Financial Results 2012

Results by Year

           
Dear Friends,

As we do every year, as we follow-up on all outstanding pledges to the best of our ability, please find below the link to the detailed revenues & expenditures statement for 2012. As you will see below, this includes outlining 33 different suppliers that generously donated an incredible amount (i.e. best estimate range) of free/discounted services of goods of over (unaudited) $130,000 -$160,000.

As part of this financial statement release below, Games for Hope is very proud to announce and is very important to note that:


  1. Games for Hope Foundation does not retain 1 penny. 100% of the net proceeds, after direct event expenses are paid out and are remitted to children’s charity beneficiaries.

  2. Games for Hope Foundation is a 100% VOLUNTEER BASED NON-PROFIT ORGANIZATION.
    We do not hire a fundraising company. Nobody on the board or event committee is paid nor is anybody reimbursed car mileage (for the many trips to sponsors, teams, suppliers, site, logistics,etc..) nor for direct & incremental cell phone costs. Nor do we expense any board meeting food costs as well. When you consider this is a 12-month project and we have over 30 volunteers on the team, these costs become significant.

  3. Games for Hope Foundation has one of the best cost ratios for any fundraiser event in Montreal. Thanks to the generosity of many suppliers and that we work hard to find generous suppliers and avoid any cost, even $1 before incurring it. Over the years, we have incurred less than 15% in direct event expenses (over revenues) which for our event is one of the best meaning ~85% is excess of revenues over expenditures.

  4. We screen each children’s charity before selecting them before each event. That is, we ask for their financial statements and see if they have solid management stewardship in how they spend their money on program costs vs administration costs (over ~80% bottom line)

  5. We ask each children’s charity beneficiary for a letter after the event confirming how much they have received from Games for Hope and how the monies were spent. We attach these letters to Games for Hope Website (www.gamesforhope.com)


2012 EVENT- FINANCIAL SUMMARY

Once again, as one part of The Games for Hope Foundation’s objectives, when it comes to fundraising & donations, we strive to meet the paramount importance of full transparency, accountability & the highest standard for management stewardship.
This includes showing everyone involved how much monies were generated, the details of the individual event fundraising expenses ($ for $), written confirmation by each beneficiary charity of how much they received to the penny and where the net monies specifically went.

Without a doubt, 2012 was a very special year. That is, in 2012, in an effort to raise more monies for the causes, The Games for Hope Foundation and its 100% based volunteer team made the monumental decision to move the event from Vanier College after 8 years to The Montreal Olympic Stadium.

Obviously, the 2012 event faced huge logistical challenges as well as a challenge to keep its costs down. However, as the enclosed 2012 financial results show , please click on link to see detailed results of 2012 revenues over expenditures, thanks to the generosity of the volunteers, teams, sponsors and suppliers, the 2012 event raised an incredible amount of approx. $220 K  (in 2011= $156,000; representing $64K or ~30% increase) and the day itself was a wonderful, magical day.

Moreover, 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 2012 as either a price reduction or completely for free an amount totaling in the incredible range of approximately (unaudited) $130,000 - $160,000. This means that the event saved about $130,000- $160,000 in costs and ultimately delivered $130,000 - $160,000 more to the causes mentioned above.

Please click here to see the list of the 33 generous companies & volunteers that donated between $130,000 - $160,000.

In terms of the bottom line, keeping in mind we are strictly a non-profit event fundraising organization, we are proud to announce that ~85% the net monies distributed in 2012 to both The Starlight Children’s Foundation Quebec & The Montreal Children’s Hospital Foundation (MCHF). In other words, $8.5 out of $10 received went directly to the charities. The other $1.5 went to only to direct event expenses described above such as Olympic Stadium Rental, inflatable games rental, etc.. (or please see this link for all the details). This is one of the best ratios in Montreal for a fundraising event especially when you consider the event is run strictly by volunteers.

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.

So in the end, the net amount raised and handed over to The Starlight Children’s Foundation Quebec & The MCHF approximated a total of $220,000 (2011 = $156,000). These monies were specifically earmarked to:

1) STARLIGHT to help buy “Activity Kits” for families at the hospitals and the wonderful "Great Escapes" programs to help those less fortunate kids and their families

2)
MCHF to help pay for
   a) Giraffe' specialized incubator for the Neonatal Intensive Care Unit
   b) Specialized staff for the Autism Spectrum Disorder Program
   c) Trauma center d) etc...


In fact, please see the signed letters from MCHF and Starlight indicating how much they each received in 2012 from Games for Hope and where the monies were spent.

Of course, if anyone has any questions on the 2012 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 2012 fundraiser event.


Yours Sincerely,

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

Peter Staveris, CPA, CA
Treasurer
Email - pstaveris@yahoo.com
Phone - 438-823-4403


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