Issuu on Google+

today

skills determination NOW leader start-up global goals

campus 2010-2011 business

entrepreneurship

canadian projects

ACE

caring

future hands on

change

ANNUAL REPORT

college

industry

sponsor university innovation community local creativity helping students enterprise economy passion competition

success commitment SMART FAIR academic


Milun Tesovic Owner, Metroleap Media, Inc. 2009 Student Entrepreneur National Champion 2009 Global Student Entrepreneur Champion Alumnus, Simon Fraser University


Maeghan Smulders SIFE Student Mount Royal University


Scotiabank & SIFE Go Green Challenge

SIFE Financial EDUCATION CHALLENGE

Campbell’s Let’s Can Hunger Challenge

Thanks to generous support from

SIFE teams are empowered to find

As one of three participating countries,

Scotiabank, this competition focuses

unique ways to address financial

our

our students on finding economically

literacy challenges facing diverse

hunger issues as part of this global

viable

students

tackle

critical

local

groups in need. Since 2006, this

competition supported by Campbell

issues in their communities and has

challenge

has

engaged

Soup Company.

had incredible reach – since 2010,

students

across

the

country,

years, 903 students from 40 SIFE teams

1,139 students have reached 93,808

resulting in the delivery of 528

have collected 415,159 pounds of food

community participants through 158

financial

for local food banks.

green projects.

projects

solutions

to

environmental

education and

directly

3,355

outreach impacting

68,950 community participants.

Over the past two


1,000+ INDUSTRY voLunteers


287,427 hours volunteer


UNIVERSITY OF WINDSOR WINDSOR, ON

Once the leading industry in the region, manufacturing has been in steady decline in the Windsor area, negatively impacting the local economy. The SIFE Windsor team saw an opportunity to encourage small business to fill the gap, and created Start to Finish, a threephase program involving networking events, demo camps to pitch entrepreneurial ideas, and one-on-one consulting sessions. This year, the students engaged 364 entrepreneurs and after 16 pitches, helped launch six new businesses. In addition, they provided customized support to 14 businesses, resulting in $545,000 in new revenues and 17 new jobs.


ST. LAWRENCE COLLEGE KINGSTON, ON

With increasing levels of poverty in their community, SIFE St. Lawrence saw an opportunity to help a local food bank become better equipped to meet the growing demand for its services. The students conducted a business model audit for the Partners In Mission Food Bank, and developed an action plan to transform it by using green business practices and technology. Thanks to the work of the SIFE students, the food bank replaced inefficient vehicles as well as heating and cooling systems, plus created a new revenue stream through the production and sale of renewable energy from solar panel installations. Over $200,000 was donated to the food bank in goods and services to turn the plan into reality, resulting in an increased food storage capacity of 960,000 pounds, estimated savings of $7,210, the diversion of 34,000 pounds of CO2, and $10,000 in new annual revenue. The impressive results earned the team recognition from the Association of Fundraising Professionals with the 2010 Outstanding Youth In Philanthropy Award.


page

29


page

30

OUR PARTNERs ACE is fortunate to have long-term, sustainable partnerships with some of Canada’s leading enterprises. With a shared commitment to shaping the economic, social and environmental landscape of Canada, we work with our partners to find unique and customized programmatic opportunities that benefit both our students and the individuals they work with. In addition to cultivating and inspiring our emerging leaders, our partners also have access to unique business opportunities such as engaging employees in a shared cause and recruiting top talent, all while being recognized for their involvement with an elite network of Canada’s student, faculty and industry leaders. Here are a few examples of the winning partnerships we are building with our donors.


page

31

As a leading global food company, The Campbell Soup Company is committed to addressing hunger issues in the communities where they live and work. A long-time supporter of SIFE Worldwide, the company saw a unique opportunity to leverage the network to expand its impact through the Let’s Can Hunger Challenge, a competition that empowers students to raise awareness about hunger relief, satisfy urgent hunger needs, and develop long-term solutions to the causes of hunger. As one of three countries involved, Canada made an impressive impact, with 44 SIFE teams leading 146 initiatives and collecting over 315,000 pounds of food for food

The Campbell Soup Company

banks across the country, an increase of 215 percent over last year’s results. The company also provided soup to “nourish” all students at the 2011 National Exposition, a unique opportunity to further build their brand.

Since 2006, our partnership with Scotiabank has evolved from an annual donation to a wellrounded relationship that provides tremendous value to both organizations. In line with their commitment to be a responsible steward of the environment, the national bank supports the Scotiabank & SIFE Go Green Challenge, which empowers SIFE teams to provide others with the knowledge required to make positive environmental decisions in both their personal and professional lives. Since starting this challenge two years ago, nearly 94,000 community participants have been impacted through 158 projects, with 996 tonnes of CO2 diverted, over 710,000 litres of water conserved, and more than 1.7 tonnes of compost diverted from landfills.

Scotiabank

Scotiabank has also realized the opportunity to find top emerging talent through our student and alumni networks, and regularly participate in interviews and information sessions at the Regional and National Expositions, resulting in six hires this year alone. The company also led our donor network with the most volunteer hours: 67 Scotiabank employees gave 413.5 hours of service, providing them with a rewarding and valuable community involvement opportunity.


JOHN DOBSON ACE FELLOWS


PRODUCTION AND LIVE MANAGEMENT

INC.


June 30

2011

2010

$

$

ASSETS Current Cash

199,827

78,492

369,351

368,206

45,922

31,389

615,100

648,710

Long-term deposits

10,581

10,200

Capital assets [note 4]

21,316

3,382

646,997

662,292

Accounts payable and accrued liabilities

111,459

159,068

Deferred revenue [note 5]

157,200

39,700

268,659

198,768

378,338

463,524

646,997

662,292

Short-term despoits Accounts receivable [note 3] Prepaid expenses

170,623

LIABILITIES Current

NET ASSETS Unrestricted


Year ended June 30

2011 $

2010 $

Balance, beginning of year

463,524

438,613

Excess (deficiency) of revenue over expenses for the year

(85,186)

24,911

Balance, end of year

378,338

463,524


Year Ended June 30

2011

2010

$

$

Revenue Corporate

902,291

1,082,862

Foundation

151,930

187,025

Individuals

101,009

123,740

18,836

27,380

6,901

6,307

1,180,967

1,427,314

Program

878,525

973,491

Operations and administration

331,653

265,899

55,975

163,013

1,266,153

1,069,097

(85,186)

24,911

Government [note 6] Administration fees and other

Expenses

Development

Excess (deficiency) of revenue over expenses for the year


Year Ended June 30

2011

2010

$

$

OPERATING ACTIVITIES Excess (deficiency) of revenue over expenses for the year Add item not involving cash Amortization

(85,186)

24,911

3,444

3,169

(81,742)

28,080

Changes in non cash working capital items (Increase) decrease in accounts receivable

(1,145)

41,952

(Increase) decrease in prepaid expenses

(14,533)

(18,600)

Increase (decrease) in accounts payable and accrued liabilities

(47,609)

(3,288)

117,500

(142,973)

(27,529)

(94,829)

Purchase of capital assets

(21,378)

(3,856)

Net redemption (purchase) of term deposits

170,242

(57,205)

148,864

(62,278)

121,335

(157,107)

78,492

235,599

199,827

156,247

Increase (decrease) in deferred revenue

INVESTING ACTIVITIES

Net change in cash during the year Cash, beginning of year Cash, end of year


Leasehold improvements Computer equipment

Accumulated

Net Book Value

Cost

Amortization

2011

2010

$

$

$

$

19,910

1,264

18,646

-

6,541

3,871

2,670

3,382

26,451

5,135

21,316

3,382

2011

2010

$

$

Balance, beginning of year

39,700

182,673

Less amount recognized as revenue in the year

(7,500)

(153,173)

Add amounts received or pledged relating to future years

125,000

10,200

Balance, end of year

157,200

39,700


$ 2012

34,275

2013

34,275

2014

34,275

2015

34,275

2016

31,418 168,518

The organization is also committed to its share of utility costs.

8. RELATED PARTY TRANSACTIONS The organization paid rent of $48,952 (2010 ‑ $51,053) to a company of which one of the principals is a director of ACE. This transaction was in the normal course of operations and is measured at the exchange amount which is the amount of consideration established and agreed to by the related parties. At the end of the year, there were no amounts due to or from related parties.


Unrestricted net assets

2011

2010

$

$

378,338

463,524

The organization’s objectives when managing capital are to hold sufficient unrestricted net assets to enable it to withstand negative unexpected financial events. The organization seeks to minimize the exposure to capital deficiencies and to maintain sufficient liquidity to enable it to meet its obligations as they come due.

11. COMPARATIVE AMOUNTS Certain items in the prior year financial statements have been reclassified for comparative purposes to conform with the method of presentation adopted in the current year.



ACE 2010-2011 Annual Report