Financial Results 2009

Results by Year

           
Dear Friends,

As one part of our non-profit Foundation's objectives, when it comes to fundraising & donations, we strive to meet the paramount importance of full transparency. This includes showing everyone involved how much monies were generated, the details of the individual event fundraising expenses($ for $) and ultimately where the net monies went.

As such, in this section, please find enclosed (click on link here) the unaudited (in-house) statement of operations for the 2009- 8th Annual JSS Medical Research Corporate Volleyball Tournament benefiting the Ste-Justine Hospital Foundation.

Based on the huge generosity of many Montreal volunteers and the dedicated ongoing efforts of our fundraising team commitment to minimize our costs, it is important to note that, although not reflected in our statement of operations, our organization received donated services or goods in 2009 as either a price reduction or completely for free an amount totaling in the range of approximately (unaudited) $20,000 - $30,000. This included services/goods for the fundraiser event such as media communication consulting, volunteer photography, website development, event branding, marketing, first-aid, translation, DJ services, food, truck rental, large refrigeration unit rental, cheque presentation printing, etc. This means that we saved about $20,000- $30,000 in costs and ultimately delivered $20,000 - $30,000 more to Ste-Justine Hospital Foundation.

As you will see in the statement of operations, our Foundation is also proud to disclose that our event is 100% volunteer based and has $0 salaries paid, $0 paid as reimbursement to any of the event organizers or board of directors for mileage expenses, $0 for reimbursement for incremental cell phone costs and $0 for any event meeting expenses (i.e. coffee, food, etc..) which can be significant when looking at things in totality.

Additionally, when reviewing the expenses, it is important to note the nature of the some expenses are unavoidable. In other words, most of our suppliers, who supply a vast number of other fundraising events, cannot provide for free every fundraising request they get. Case in point is the gym rental and inflatable games suppliers who get approached a multitude of times every year. Nevertheless, these suppliers did provide a generous discount for their services. For some other expenses, please keep in mind that there are costs involved but they directly generate incremental revenues. For example, there were costs we incurred for the team posters, photo cards and t-shirts of approx. $3,500 but ultimately they helped generate corporate sponsorship revenues of approx. $25,000.

In terms of the bottom line, keeping in mind we are strictly a non-profit event fundraising organization, we are proud to announce that the net monies distributed in 2009 to the Ste-Justine represented 90% of our revenues. In other words, $9 out of $10 received went directly to the Ste-Justine Hospital Foundation. The other $1 went to direct event expenses described above such as gym rental, inflatable games rental, team posters printing costs, etc.(or please see link above for all the detail).

That being said, besides being a fully transparent fundraising event, we invite our participants, contributors, sponsors and volunteers to review our expenses and provide some suggestions and/or provide some contacts where we could possibly obtain items at a further discount or for free.

For 2009, which was a unique year, it must also be noted that, for the 1st time in the event's history, a significant amount of $8,200 was not ultimately received due to $7 K of pledged amounts not being upheld as well as some overestimates of $1K. Unfortunately, the recession in 2009 had a huge impact on many pledged amounts not being ultimately remitted by some companies.

So in the end, despite the major recession, the net amount raised and handed over to the Ste-Justine Hospital Foundation approximated $119,000 (2008 = $110,000). These monies were specifically earmarked to buy 4 pieces of equipment for the intensive care unit to help the staff at Ste-Justine Hospital do their job better and less fortunate kids. Please see the photos of a recent 2010 tour of the intensive care unit that displayed the equipment purchased in relation to the volleyball fundraiser event.

If anyone has any questions on the 2009 event, please do not hesitate to contact us.

On behalf of the entire THE GAMES FOR HOPE FOUNDATION, we sincerely thank everyone for their heartfelt contribution to the 2009 fundraiser event.

Yours Sincerely,

Nick Kritikos,
President
Cell#: 514-264-5667
Yours Sincerely,

Haleh Ghezel-Ayagh,
Treasurer
halehg@msn.com


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