Results by Year
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 36 different suppliers that generously donated an incredible amount (i.e. best estimate range) of free/discounted services of goods of over (unaudited) $100,000 -$125,000.
As part of this financial statement release below, Games for Hope is very proud to announce and is very important to note that:
- 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.
- 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.
- 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 $1 before incurring it. Over the years, we have incurred less than 10-15% in direct event expenses (over revenues) which for our event is one of the best meaning ~85%-90% is excess of revenues over expenditures.
- We screen each children’s charity before selecting them before each event. That is, we ask for their financial statements and see if they have solid management stewardship in how they spend their money on program costs vs administration costs (over ~80% bottom line)
- We ask each children’s charity beneficiary for a letter after the event confirming how much they have received from Games for Hope and how the monies were spent. We attach these letters to Games for Hope Website (www.gamesforhope.com)
2013 EVENT- FINANCIAL SUMMARY
Once again, as one part of The Games for Hope Foundation’s objectives, when it comes to fundraising & donations, we strive to meet the paramount importance of full transparency, accountability & the highest standard for management stewardship.
This includes showing everyone involved how much monies were generated, the details of the individual event fundraising expenses ($ for $), written confirmation by each beneficiary charity of how much they received to the penny and where the net monies specifically went.
2013 was another phenomenal year. That is, in 2013, in an effort to raise more monies for the causes, The Games for Hope Foundation and its 100% based volunteer team made another monumental decision, in order to cut cost and add ice hockey, to move the event from the Olympic Stadium to our new venue partner at Le Complexe Sportif Bell in Brossard.
As such, please find enclosed 2013 financial results please click on link to see detailed results of 2013 revenues over expenditures. Once again, thanks to the generosity of the volunteers, teams, sponsors and suppliers, the 2013 event raised an incredible amount of approx. $315 K (in 2012= $220,000; representing $94K or ~30% increase) and the day itself was another wonderful, magical day. Please note, the ~$315 K includes a very generous UPS Grant of $50,000 that was applied in January 2013 but was only confirmed as being granted after the event around July 2015. Day of event in May 2013, we were understandably conservative and announced an approx. amount of $275,000 which did not include the UPS grant of $50,000. For accounting purposes, in accordance with accounting rules and our internal accounting policies in handling post-event contributions, we recognized the UPS grant in our December 31, 2013 fiscal year-end.
In addition, 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 2013 as either a price reduction or completely for free an amount totaling in the incredible range of approximately (unaudited) $100,000 - $125,000. This means that the event saved about $100,000- $125,000 in costs and ultimately delivered $100,000 - $125,000 more to the causes mentioned above.
Please click here to see the list of the 36 generous companies & volunteers that donated between $100,000 - $125,000.
In terms of the bottom line, keeping in mind we are strictly a non-profit event fundraising organization, we are proud to announce that ~87% the net monies distributed in 2013 to both The Starlight Children’s Foundation Quebec, The Shriner’s Hospital for Children Canada and FitSpirit. In other words, ~$8.70 out of $10 received went directly to the charities. The other $1.30 went to only to direct event expenses described above such as Facilities 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 Shriner’s Hospital for Children Canada and FitSpirit approximated a total of ~$315,000. These monies were specifically earmarked to:
- 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
- SHRINER’S HOSPITAL to help pay for
a) a new room at the new Shriner’s Hospital for Children Canada
b) The Philipps Cardiac Monitor is used for post-operative care following anesthesia in the recovery room and inpatient unit.
FitClub - The program engages teenage girls in 90 min of physical activity per week for 8 weeks and includes various workshops. The program helps girls discover the fun of physical activity, in a positive environment, open to everyone and that promotes a healthy self-image.
Mentoring program - Girls who have been touched by the program previously and who are now studying in any field related to physical activity give back through the mentoring program, through school presentations, education and awareness, as well as supporting the phys ed teachers in their role for the FitSpirit challenges.
In fact, please see the signed letters from Starlight, Shriner’s and FitSpirit indicating how much they each received in 2013 from Games for Hope and where the monies were spent.
Of course, if anyone has any questions on the 2013 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 2013 fundraiser event.
Nick Kritikos, CPA, CA
Peter Staveris, CPA, CA
Email - email@example.com
Phone - 438-823-4403