Kensington Health Foundation Financial Statement

Independent Auditor's Report on Summary Financial Statements To the Board of Directors and Members of THE KENSINGTON HEALTH FOUNDATION The accompanying summary financial statements, which comprise the summary balance sheet as at June 30, 2018 and summary statement of revenue and expense for the year then ended are derived from the audited financial statements of The Kensington Health Foundation for the year ended June 30, 2018. We expressed an unqualified audit opinion on those financial statements in our report dated October 29, 2018.

The summary financial statements do not contain all the disclosures required by Canadian accounting standards for not-for-profit organizations. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of The Kensington Foundation.

Management's Responsibility for the Summary Financial Statements Management is responsible for the preparation of a summary of the audited financial statements on the following basis: The summary financial statements include all information contained in the complete audited financial statements, except for a statement of net assets, statement of cash flows, notes and other explanatory information.

Auditor's Responsibility Our responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, "Engagements to Report on Summary Financial Statements".

Opinion In our opinion, the summary financial statements derived from the audited financial statements of The Kensington Health Foundation for the year ended June 30, 2018 are a fair summary of those financial statements on the basis described above.

TORONTO, Ontario October 29, 2018

The Kensington Health Foundation Summary Balance Sheet As at June 30,

2017

2017

Assets Cash Receivables and prepaids Investments - at market value Mortgage loan receivable from The Kensington Health Centre Promissory notes receiveable from the Kensington Health Centre Capital assets

$ 2,583,614 388,965 2,972,579 32,612,081 3,500,000 3,500,000 5,445,806 $ 48,030,466

$ 1,590,981 240,412 1,831,393 33,756,445 3,500,000 4,750,000 5,643,431 $ 49,481,269

$

$

Liabilities and Net Assets Accounts payable and accrued liabilities Rent deposits Due to related organizations Due to The Kensington Eye Institute Net assets

808,222 135,327 264,122 3,500,000 4,707,671 43,322,795 $ 48,030,466

971,452 139,223 1,676,977 3,500,000 6,287,652 43,193,617 $ 49,481,269

The Kensington Health Foundation Summary Statement of Revenue and Expense Year ended June 30, Revenue: Donations Investment income Net rental income

Expenses: Administrative and professional fees Salaries, wages and benefits Event

Excess of revenue over expense before grants and donations Deduct grants and donations paid or payable to: - The Kensington Health Centre - The Kensington Cancer Screening Centre - The Kensington Eye Institute - The Second Mile Club of Toronto - Community organizations Excess of revenue over expense for the year

$

2017

2017

941,699 1,954,160 1,795,038 4,690,897

$ 1,008,363 2,610,584 2,030,634 5,649,581

563,951 361,494 87,107 1,012,552

420,299 259,212 74,909 754,420

3,678,345

4,895,161

2,894,921 555,296 30,666 21,284 47,000 $ 129,178

1,863,689 215,719 179,411 11,925 206,500 $ 2,417,917