Statement of Operations

Summarized Statement of Operations

Operating Revenue

2017 2016
Government 4,724,958 3,153,658
Fundraising 2,441,314 2,427,578
Frontier College Foundation Grants 652,000 866,321
New Readers Bookstore 179,421 113,139
Fee for Service & Other Income 529,319 454,785
Total Operating Revenue 8,527,012 7,015,481

Operating Expenses

2017 2016
Salaries and Benefits 5,858,352 4,952,911
Program Materials & Delivery Costs 1,387,013 989,163
Operational Costs 719,323 695,838
Fundraising and Communications 209,611 164,718
Cost of Sales 112,417 71,978
Amortization & Interest on Capital Leases 69,136 60,873
Total Operating Expenses 8,355,852 6,935,481
Excess of Revenue over Expenses 171,160 80,000

Summarized Statement of Financial Position

2017 2016
Assets
Cash & Equivalents 6,085,979 2,619,880
Accounts Receivable 534,516 416,624
Inventory & Prepaid Expenses 221,146 152,428
Capital Assets 341,203 275,151
Total Assets 7,182,844 3,464,083
Liabilities and Net Assets
Accounts Payable & Accrued Liabilities 218,485 172,466
Deferred Contributions 6,309,214 2,787,808
Other Obligations 105,861 125,685
Net Assets 549,284 378,124
Total Liabilities and Net Assets 7,182,844 3,464,083

Full audited financial statements and notes are available

Revenue Sources

Pie graph
Percentage of Total Revenue Source
10% Federal Government
45% Provincial & Territorial
Governments
1% Municipal Government
28% Fundraising
8% Frontier College
Foundation Grants
2% New Readers Bookstore
6% Fee for Service & Other
Income