2019 Annual Report

Image: Tourism Saskatoon/Greg Huszar Photography

ANNUAL REPORT 2019

The Greater Saskatoon Chamber of Commerce exists to help make your business more successful.

In doing so, we will make Saskatoon the best place in Canada to live, work, and grow a business.

As a member of the Chamber, you are part of the largest, longest-standing, and most influential business organization in Saskatoon. You are part of a legacy that has built an incredibly entrepreneurial, innovative, resilient, and internationally renowned city, over the past 117 years.

Today our focus remains unwavering: to help you grow your business and increase your competitive advantage in markets all around the world.

To do this the Chamber connects you to new business partners, helps you grow through programs, new strategies, and expands your influence with policy makers essential to your business.

Welcome to the Chamber.

You belong here.

2019 ANNUAL REPORT Our Vision The Voice of Business in Saskatoon; representing and advocating for the best business climate in Canada.

Contents Annual General Meeting Agenda.............................................................. Page 4 Chair's Report...........................................................................................................Page 5 Minutes of the 2019 Annual General Meeting.............................Pages 6-7

Our Mission Building and promoting a strong community through prosperity in business.

117 Years of building Saskatoon.............................................................Pages 8-9 By the Numbers................................................................................................. Pages 10 Chamber's Strategic Plan........................................................................Pages 11-17 Year in review images.............................................................................. Pages 18-19 Chamber Accreditation..................................................................................Page 20 2019 New Members............................................................................................ Page 21 Chamber Sponsors...................................................................................Pages 22-23

STAFF Silvia Martini, Interim CEO Kendra Cruson, VP Operations Margot Orr, Director of Policy and Government Relations Terry Lawrence, Office Administrator Roz Macala, Office Coordinator Henry Buitrago, Creative Coordinator Ryssa Mae Alarcon, Executive Assistant

2019 ANNUAL REPORT is a publication of the

Greater Saskatoon Chamber of Commerce

110-345 4th Avenue South, Saskatoon, SK S7K 1N3 Phone: (306) 244-2151 chamber@saskatoonchamber.com www.saskatoonchamber.com Twitter and Instagram: @stoonchamber Facebook: @GreaterSaskatoonChamberofCommerce Copyright 2020

2020-2021 Board of Directors......................................................................Page 24 Financial Statements....................................................................................... Page 25

ANNUAL GENERAL MEETING AGENDA Thursday, May 21, 2020 Via Zoom 4:45 pm: Welcome & Introduction of Guests, Dignitaries, and Past Chairs (Chris Sicotte) Message from our Sponsor, SaskTel Call Meeting to Order (Chris Sicotte) Chamber of Commerce 113th Annual General Meeting Motion to accept Minutes of the 112th Annual General Meeting Chair's Report (Chris Sicotte) Financial Report (Jason Aebig) Motion to accept 2019 Audited Financial Statements Consideration of Motions: (Chris Sicotte) a) Appointment of Auditors b) Actions of Officers and Board of Directors c) Approval for Signing Authority Swearing in of Chair, First Vice-Chair and Second Vice-Chair (Mayor Charlie Clark) Presentations: a) Presentation of Member of the Year Award (Chris Sicotte) b) Recognition of Outgoing Board Members (Chris Sicotte) c) Presentation of Caricature to Chair Chris Sicotte (Peggie Koenig) d) Presentation of Chair’s Gavel to Carla Browne (Peggie Koenig) Closing Remarks: a) Motion to ratify the actions of the Annual General Meeting of May 21, 2020 b) Remarks of Incoming Chair (Carla Browne) c) Introduction of the 2020-21 Board of Directors

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

CHAIR'S REPORT Dear Chamber Supporters, The time has come to wrap up my year as the Chair of the Board of Directors for your Greater Saskatoon Chamber of Commerce. It has been a year of transition and change for your local Chamber and within our community.

Early into my year as Chair, the Chamber had the opportunity to host the leader of the Conservative Party of Canada and Official Opposition, on his campaign trail as he discussed the importance of natural resources to the economy. Throughout my term as Chair we were able to host many pivotal events, such as this, as we continually seek ways to better inform and equip our members by providing opportunities to hear from political and business leaders.

This past fall, the Greater Saskatoon Chamber of Commerce was given the opportunity to partner with Saskatchewan’s Premier to rollout the province’s Next Decade of Growth – a growth plan for Saskatchewan spanning from 2020 to 2030.

Image: Gina's Portraits

Advocacy and providing engagement opportunities continues to top our priority list. The Chamber’s Center of Influence Roundtable Series connects our members with Ministers from the provincial government. We’ve also developed useful budget scorecards for members when provincial and municipal budgets are released.

This year the Board has struck two strategic committees; Advocacy and Indigenous Economic Growth. The Advocacy Committee chaired by Graham Snell and populated by various board members developed a strategy and key policy pillars and priorities as a result of the 2nd Annual Chamber SUMMIT. This year the event was broken into two parts with the roundtable engagement one month prior to the presentation of the findings at the formal SUMMIT. The three main areas of focus identified through this engagement were; competitiveness, efficiency and growth. Under each of these key areas detailed subcategories that you, our members, identified as important were focused on this year.

The Indigenous Economic Growth Committee was chaired by CeCe Baptiste. As an organization the Chamber has become a signatory of the Saskatchewan Chamber of Commerce’s Indigenous Engagement Charter, the requirements of which; the environmental scan and strategic plan, are being led by this committee. The committee has laid the roots of good governance with a strong Terms of Reference and has begun work on the environmental scan and assessment. A workplan has been developed that includes education for the Board and selected staff, roundtable sessions with Indigenous business leaders and the future creation of a comprehensive Indigenous strategic engagement plan. The Chamber will continue to foster partnerships and growth of the Indigenous business community in the name of economic reconciliation.

I am very honoured and pleased to have been part of the Chamber’s journey over the past year in the position as Chair. With such a strong slate of candidates that we had running for the Board of Directors and the energized candidates that have been elected and re-elected for the Chamber’s Board, our Chamber’s future governance is robust. The Greater Saskatoon Chamber of Commerce continues to practice good governance by providing continued training and highlighting the importance of a strong unified Board.

I thank all members of the Board for bringing their expertise and guidance throughout this year. Thank you to our volunteers and sponsors who make our events possible, in addition thank you to the Chamber Staff that are continuously available and are the backbone of the organization as we tirelessly strive to create the best business climate in Canada.

Chris Sicotte

2019-2020 Chair 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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MINUTES OF THE 112th ANNUAL GENERAL MEETING

GREATER SASKATOON CHAMBER OF COMMERCE th MINUTES OF THE 112 ANNUAL GENERAL MEETING Chair: Peggie Koenig Thursday, May 23, 2019 5:00 – 7:00 pm 1.

Darla Lindbjerg opened the meeting.

2.

The Master of Ceremonies, Peggie Koenig. welcomed guests, dignitaries and past presidents to the meeting.

2.

Peggie Koenig called the meeting to order. (There were 46 voting members present) th o Minutes of the 111 Annual General Meeting: th MOTION: That the minutes of the 111 Annual General Meeting be accepted as distributed.

(Carla Browne / Jason Yochim) - Carried Unanimously

3.

2018 Financial Report: Carla Browne o Carla Browne provided comments on the 2018 Financial Statements.

MOTION: That the 2018 audited statements of the Greater Saskatoon Chamber of Commerce be approved as circulated.

(Colton Wiegers / James Lier) - Carried Unanimously

4.

Consideration of Motions: a.

b.

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Appointment of Auditors: MOTION: That McClelland Debusschere be appointed as auditors for the Greater Saskatoon Chamber of Commerce for the fiscal year 2019.

(Colton Wiegers/ Catherine Gryba) - Carried Unanimously Approval of Amendments to Bylaws as distributed to the Chamber Membership on April 23, 2019 via email: MOTION: That the amendments to the Bylaws be approved as distributed in accordance with the requirements of the Bylaws (30-day notice to the membership).

(Penny Yeager /Tanis Taylor) - Carried Unanimously

c.

Actions of Officers and Board of Directors: MOTION: That it be resolved that all acts, contracts, by-laws, proceedings, resolutions, appointments, elections, payments, and other matters enacted, made done, and taken up to the date of this Annual Meeting by the Board of Directors and by the Officers of the Corporation are hereby approved, ratified, and confirmed.

(Todd Denzin / Dara Hrytzak) - Carried Unanimously

d.

Approval for Signing Authority: MOTION: That any two of Chair, First Vice-Chair, Second Vice-Chair, and the Chief Executive Officer of the Greater Saskatoon Chamber of Commerce have signing authority.

(Dale Lemke / Katrina German) - Carried Unanimously

| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

MINUTES OF THE 112th ANNUAL GENERAL MEETING 5.

Swearing in of Officers: o Honourable Judge Morris Baniak swore in: o Jason Aebig as Second Vice-Chair o Carla Browne as First Vice-Chair o Chris Sicotte as Chair

6.

Presentations: Peggie Koenig presented the Member of the Year award to Emmanuelle Morin. o Peggie Koenig acknowledges outgoing Board members: Kelly Bode, Stacy Dybvig, Trevor o Thiessen, and Chris Woodland Kelly Bode presents caricature to Peggie Koenig o Peggie Koenig presents Chris Sicotte with Chair’s Gavel o

7.

Incoming President’s remarks – Chris Sicotte

8.

Chris Sicotte introduced the 2019/20 Board of Directors: Jason Aebig Todd Denzin Peggie Koenig Sandra Ribeiro Penny Yeager

10.

10.

Carla Browne Katrina German Adam McInnes Colton Wiegers

CeCe Baptiste Linda Exner Dale Lemke Graham Snell

MOTION: To Ratify the action of the 2019 AGM (Jason Aebig / Chris Woodland) – Carried Unanimously MOTION: to adjourn the meeting (Trevor Thiessen)

____________________________ Executive Committee Member

___________________________ Executive Committee Member

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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117 YEARS OF BUILDING SASKATOON 1885

Saskatoon founded as a hamlet following the Northwest Rebellion

1901

Saskatoon population 113

1902

Allan Bowerman proposes the creation of a Board of Trade at a meeting in regards to the irregular operations of a river ferry

1903

The town of Saskatoon is granted a charter Saskatoon Board of Trade is formed

1906

Saskatoon becomes a city, population 3,031

1907

Saskatoon Board of Trade is Incorporated Saskatoon Board of Trade promotes that Saskatoon is chosen as home for University of Saskatchewan Saskatoon Board of Trade takes an active role in promoting the city, producing booklets annually and sending them out of the City to promote Saskatoon as a place to live and work

1908

Founders of the Saskatoon Board of Trade found the Saskatoon Club

1912

1920

Saskatoon Board of Trade promotes the growth of commercial air travel in Saskatoon

Saskatoon population 27,500

1913

Saskatoon Board of Trade publishes “Saskatoon� an illustrated book about the City

Saskatoon population 536

Top right: Saskatoon Board of Trade Office-1907 Bottom right: Delta Bessborough-1935 (ID: PH-95-78-20 courtesy of Saskatoon Public Library)

Bottom left: Traffic Bridge-1910

(D: LH-4110 courtesy of Saskatoon Public Library)

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

1935

Bessborough Hotel opens; Saskatoon Board of Trade helped bring the hotel to the City Saskatoon Board of Trade opens tourist kiosks downtown

1960s

Saskatoon Board of Trade works to develop recreation areas around Saskatoon such as Pike Lake Park Saskatoon Board of Trade publishes annual tourist maps of Saskatoon

1964

Saskatoon Board of Trade helps found the United Way of Saskatoon

1966

Saskatoon Centennial Auditorium Opens, Saskatoon Board of Trade promotes creation and development

1971

Western Development Museum opens, Saskatoon Board of trade supported the museum's creation

1975

Saskatoon Board of Trade hosts the Annual Meeting of the Canadian Chamber of Commerce

1976

Saskatoon Board of Trade funds research and advises the public about the province’s intent to take ownership of potash mines

1978

Saskatoon Board of Trade initiates a collaboration with the City of Saskatoon to create a dedicated tourism bureau for the City - Tourism Saskatoon. Tourism Saskatoon directly assumes several activities previously handled by the Saskatoon Board of Trade including tourist information booths and some marketing activities.

1988

Saskatoon Board of Trade supports the construction of the Saskatchewan Place (now SaskTel Centre)

1989

Saskatoon Board of Trade changes its name to Saskatoon Chamber of Commerce

1993

Saskatoon Chamber of Commerce works to create the Saskatoon Regional Economic Development Authority (SREDA) Saskatoon Chamber of Commerce formed the Saskatoon Enterprise Center along with SREDA and The Partnership (now Downtown Saskatoon)

1999

Saskatoon Junior Chamber of Commerce is formed

2001

Saskatoon Chamber of Commerce helped to create Leadership Saskatoon

2004

Saskatoon Chamber of Commerce supports the development of the Canadian Light Source

2006

1997

Saskatoon Chamber of Commerce changes it name to Greater Saskatoon Chamber of Commerce

1998

Greater Saskatoon Chamber of Commerce hosts the Annual Meeting of the Canadian Chamber of Commerce

Saskatoon Chamber of Commerce hosts the Annual Meeting of the Canadian Chamber of Commerce

Saskatoon Chamber of Commerce starts the Raj Manek Mentorship Program

2017

Top left: Western Development Museum Boomtown

Darla Lindbjerg takes over as CEO the Greater Saskatoon Chamber of Commerce

Bottom right: SaskTel Centre

2018

(Photo courtesy of WDM)

(Photo courtesy of SaskTel Centre)

Bottom left: Canadian Light Source at the University of Saskatchewan (Photo courtesy of CLS)

Greater Saskatoon Chamber of Commerce office moves to 345 4th Avenue South

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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BY THE NUMBERS

146

Events put on by the Saskatoon Chamber

5,071

Event Registrations

Eblast Open Rate

117

180

NEW Members in 2019

411

Members voted in the 2019-20 Board of Directors Election

32.2% 289

The Chamber has been t h e Vo i c e o f B u s i n e s s i n Saskatoon for

2,203

Certificate of Origin export documents signed by the Saskatoon Chamber

Ye a r s

6

Business Voice issues per year

Members voted in the 2020-21 Board of Directors Election

TOTAL MEMBERSHIP

SOCIAL MEDIA

2019

9,947

1,494 2018

1,466

Social Media Followers

2017

1,449 2016

3,252

1,430 2015

Twitter

1,440 NEW MEMBERS

FISCAL YEAR GROSS REVENUE

200 180 160

180

176

181

178

140

141

120 100 80 60

2019

$1,401,335

2018

$1,448,177

2017

$1,163,964

2016 Series1

$1,122,203

2015

$1,343,964

40

Facebook

1,705 Instagram

2,098 LinkedIn

20 0

2,892

2019 1

10

2018 2

2017 3

2016 4

2015 5

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

CHAMBER'S STRATEGIC PLAN

1

GOAL #

ADVOCACY The Chamber is the voice of business in Saskatoon and is a meaningful and impactful advocate of it.

OBJECTIVE 1.1

ADVOCACY & POLICY FRAMEWORK

STRATEGY:

OUTCOME:

INDICATOR OF SUCCESS:

Contribute to policies that affect business through research and business intelligence.

The Chamber is conducting research and policy development on three targeted issues, competitiveness, efficiency and growth, utilizing the advocacy model.

Public opinion has been influenced by the Chamber’s campaigns; Recommended changes to policy are adopted.

OUTCOMES: •

Hired a Director of Policy and Government Relations, a dedicated resource for policy development and research.

•

Developed a standard operating procedure for policy resolutions brought forth by members

STRATEGY:

OUTCOME:

INDICATOR OF SUCCESS:

Develop guiding principles and a process for advocacy that includes providing data and research to promote the economy.

Utilize guiding principles to develop and implement a model for advocacy on identified issues.

The Chamber promotes real data and evidence; positions are non-partisan and pro-economy.

OUTCOMES: • • •

•

To increase transparency with the membership advocacy efforts are being highlighted through media outlets, the Chamber's internal blog and social media channels.

Advocacy process developed, approved and implemented.

9 Summit Roundtables hosted and a membership survey conducted to gain insights and feedback from the membership on what issues were most impacting business in Saskatoon. Used this information to formulate advocacy priorities for 2020.

2nd annual Chamber SUMMIT held in November: » Hosted four panel sessions and a keynote address to membership . » Communicated roundtable findings to membership.

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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CHAMBER'S STRATEGIC PLAN ADVOCACY The Chamber is the voice of business in Saskatoon and is a meaningful and impactful advocate of it.

OBJECTIVE 1.2

STRENGTHEN RELATIONS & NETWORKS

STRATEGY:

OUTCOME:

INDICATOR OF SUCCESS:

Develop and maintain strong relations with government, industry and community.

Increase the Chamber’s influence in local, provincial and federal policy decisions.

Key stakeholders seek the opinion of the Chamber; decision makers in government and industry.

OUTCOMES:

Images: Saskatoon Chamber

The Chamber was present at many decision making tables in 2019, including: • Saskatchewan Business Council • Skyxe Air Services Group • Combined Business Group • Leadership Saskatoon • City of Saskatoon Client Engagement Group (CEG) • Saskatchewan Land Surveyors Association presentation on the economy • Government of Saskatchewan's Next Decade of Growth - Growth Plan 2030 • Participation on City of Saskatoon’s Bloomberg Harvard BRT team • Meetings with the High Commissioner and Commerce Minister of Bangladesh alongside the provincial government representatives and other business leaders from Saskatchewan • Invited to participate in provincial government trade mission to Japan and South Korea • Saskatchewan Freeway Functional Planning Study Steering Committee • Local Immigration Partnership

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

CHAMBER'S STRATEGIC PLAN ADVOCACY The Chamber is the voice of business in Saskatoon and is a meaningful and impactful advocate of it.

STRATEGY: Strengthen the Chamber network within Saskatchewan and Canada.

OUTCOME: Develop new relationships and expand existing relationships.

INDICATOR OF SUCCESS: The Greater Saskatoon Chamber of Commerce will take a leadership role within the Chamber network.

OUTCOMES: Develop relationships with 10 of the larger Chambers in Canada. In 2019, relationships were developed with the following Chambers: • Montreal Chamber of Commerce • Edmonton Chamber of Commerce • Calgary Chamber of Commerce • Vancouver Board of Trade • Langley Chamber of Commerce • Winnipeg Chamber of Commerce • Regina Chamber of Commerce • Halifax Chamber of Commerce • Brampton Chamber of Commerce • Cambridge Chamber of Commerce

Images: Saskatoon Chamber

The Greater Saskatoon Chamber of Commerce took a leadership role within the province of Saskatchewan: • Saskatchewan Business Council, Vice-Chair • Chamber of Commerce Executives of Saskatchewan, Vice-Chair

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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CHAMBER'S STRATEGIC PLAN

2

GOAL #

MEMBERSHIP The Chamber is the first choice for membership and provides value to members.

OBJECTIVE 2.1

NETWORKING

STRATEGY:

OUTCOME:

INDICATOR OF SUCCESS:

Offer events that are relevant and in high demand by members and the business community.

Membership finds value in attending the networking and signature events.

Events are in high demand with high attendance.

OUTCOMES:

Images: Saskatoon Chamber

60 events were planned and executed in 2019 with an attendance of 5,071. These events varied in size and type. The event stream reflected diversity through speaker's backgrounds and topics. A sample of these include: • Entrepreneurship • Education • Health • Indigenous Engagement • Female leadership • Municipal, provincial and federal political leaders • Non-profits • Science • Innovation • Workforce

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

CHAMBER'S STRATEGIC PLAN MEMBERSHIP The Chamber is the first choice for membership and provides value to members.

OBJECTIVE 2.2

GROWTH STRATEGY: OUTCOME:

INDICATOR OF SUCCESS:

Increase membership.

Membership has increased overall; Membership retention rates are high; Engagement of members increases; Increase membership of Indigenous businesses.

Membership between 12% - 14% penetration rate.

OUTCOMES: • • •

Achieved the targeted membership retention rate of 89% in 2019.

Achieved 1% membership growth.

Achieved a 12% market share.

OBJECTIVE 2.3

COMMUNICATIONS STRATEGY: Increase brand recognition of the Chamber and its value proposition.

OUTCOME: Promote the value and benefits of membership, and inform/educate our members and stakeholders on business topics.

INDICATORS OF SUCCESS: Increased awareness of programs and benefits to members. The Chamber is visible through the media and in the community.

OUTCOMES: • • •

Marketing and communications plan is 85% implemented.

Increased awareness of programs and benefits to members (Chamber 101).

Social Media channels are widely used, e.g. visits to the website have increased, Follows, Shares and Posts have increased (average increase of 36% across all channels).

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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CHAMBER'S STRATEGIC PLAN

3

GOAL #

INDIGENOUS ECONOMIC GROWTH The Chamber supports and fosters growth and sustainability of Indigenous business.

OBJECTIVE 3.1

INDIGENOUS CONSULTATION & STRATEGY DEVELOPMENT STRATEGY: Develop a strategy for prosperity of Indigenous business in Saskatoon.

OUTCOME: Engage in a conversation with the Indigenous and non-Indigenous business community.

INDICATORS OF SUCCESS: Indigenous business is thriving in Saskatoon.

OUTCOMES: Indigenous Economic Growth Strategic Committee struck by the Board.

Board and Staff took part in an information session on TRC Call to Action #92 .

Supported the Indigenous Chamber of Commerce of Saskatchewan (ICCS).

Hosted an Indigenous Business Forum at the 2019 Chamber SUMMIT. Became a signatory on the Saskatchewan Chamber of Commerce's Indigenous Engagement Charter

Image: Tourism Saskatoon

• • • • •

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

CHAMBER'S STRATEGIC PLAN

4

GOAL #

ORGANIZATIONAL EFFECTIVENESS The Chamber uses best practices to govern its operations and utilizes data to drive decisions.

OBJECTIVE 4.1

GOVERNANCE STRATEGY: The Board of Directors use best practices to govern the organization.

OUTCOME: Conduct a governance review; identifying and implementing best practices on items including Board structure, frequency of meetings, roles and responsibilities of Board Directors, Committee structure and alignment with Strategic Plan.

INDICATORS OF SUCCESS: Mandates of Strategic Committees have been established to reflect the new Strategic Plan; Board governance review is completed and implemented.

OUTCOMES: • • •

Board is timely and responsive on decisions.

Mandates of Strategic Committees have been established to reflect the new Strategic Plan.

Structure of Strategic Committees have been established to align with bylaws.

OBJECTIVE 4.2

BUSINESS INTELLIGENCE STRATEGY: The Greater Saskatoon Chamber of Commerce is known as the business intelligence hub for the city and region.

OUTCOME: Leverage technology and data to improve services and access to information for members and key stakeholders.

INDICATORS OF SUCCESS: Resources, technology and processes are in place to manage the collection, analysis and distribution of data; making it available to decision-makers. Decisions are driven by data.

OUTCOMES: •

Surveys were conducted to gather data and insight into business trends, membership perception on given issues, and gather feedback. Results were used to form policy positions and distribute data.

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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Images: Saskatoon Chamber

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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CHAMBER ACCREDITATION What is Accreditation?

Accreditation is a formal acknowledgement that member Chambers of Commerce/Boards of Trade have been successfully evaluated against rigorous national standards of policy, service, and performance.

Displaying the accreditation seal is our Chamber’s declaration of, and commitment to, our unique value proposition as “the voice of business” in communities across Canada.

Why is Accreditation Important?

Accreditation demonstrates to our members that our Chamber/Board is the best business association in our community.

Accreditation ensures: • • • • •

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Strategic focus on core Chamber activities.

Uniform practices and policies across the network.

Dependable governance procedures.

Distinctive brand identity. A competitive edge against other business organizations.

A stronger “voice of business” in our community. An increased role in national and international policy advocacy.

| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

2019 NEW MEMBERS 3D Safety Consulting Abode Crafted Wood Furnishings Action Research Consulting Alexene Immigration & Employment Services Inc. Alpha & Omega Strategies Alt Hotel Saskatoon Angeethi Flame Fine Indian Bistro Anytime Fitness University Heights AON Arbutus Properties Astro Towing Aurora Cannabis Inc. Avenue Living Communities Barga Insurance Salvage Barry Jones Beauty Home Furniture & Interior Decoration Bella Sante MD Cosmetic & Laser Clinic BizAcademi Black Rifle Academy Inc. Blair Morin Boyden Canada Buckingham Security Build Doctor Technologies Ltd. Canadian Brewhouse (Mcclocklin Rd) Canadian Indoor Air Quality Investigators Captain Taxi Ltd. Car Collector Canada Carnivora™ Chavys Consulting Cheryl Baan Clear Cutt Landscaping Combined Insurance Compugen Inc. Connor, Clark & Lunn Private Capital Conway Consulting Costco Wholesale Canada Cruson, Pieter Cultural Bridges Inc. Cut Casual Steak & Tap Dan McEachern CPA Prof. Corp.

Decora Homes Ltd. DJ's Windows & Aerial Access Dr. K. Insley Medical Aesthetics DriveNation Dufresne Furniture & Appliance Dynamic Agencies Eb's Source For Adventure Ecol Services Group Ecosmart Developments Inc. Emrose Cleaning Services Ltd. Enviroway / Ecologik Escape Manor Saskatoon Express Employment Professionals Fire & Flower Cannabis Co. Forvest Investments Inc Foundation Chiropractic and Wellness Ltd. Genesis Saskatoon GetintheLoop Gil Soanes Global Institute for Water Security Greenline Distributors

GreenSTEM Technology Corp.

Grow Personal Development Services Ltd. H2O Systems Inc. Henry Downing Architects Holly Decker Makeup Artistry Home Care by Doctors HomeStyles Home Show Honey Bun Cafe Inc. Hudson Energy J & Z Transport Inc. Jack Adams Accounting James Brown Joanne Balint Just B Coaching K&K Swim School K+S Potash Canada Karma Film Inc. Karnalyte Resources Inc. KatrinaGerman.com Kaylee Smisko Makeup Artistry KeyLeaf Kiaro Kota Graphics & Design Inc. Layer3 IT Business Solutions Inc. LeaderImpact Liberty Ventures Lica Supply & Inspection Company Ltd. Lillian Perschke Limelight Limos Inc. Linda Koch LSM Commodities Lynn Stade macbeeners business goods Make-A-Wish® Canada - Children's Wish Foundation of Canada Marco's Restaurant Equipment Martinez Lopez Transport Ltd. Medicine Shoppe #203 Midwest Laser Centre Milestones Grill + Bar Mobile Klinik MS Society of Canada - SK Division My Canada Payday Newrock Developments Odd Couple Restaurant Orangetheory Fitness Outtabounds Oxford Homes Ltd. Passion Safe Coworking + Storage Paul Maczek Real Estate P.C Inc. Pet Planet (University Heights) Peter Lucas Project Management Inc. Phillips Enterprises Inc. Pi Co. Pizza Bar Pixy Fashion Prairie Packaging Inc Prairie Pulse Inc. Prairie Records Precedence Private Wealth QuantumX Technologies, Inc. R3 Construction RE/MAX Guardian Commercial Realty Executives Saskatoon Richland Agriculture Group Corp.

Robynne Smith Physiotherapy Rumley Periodontics Ryde YXE Cycle Studio Sandy Shores Resort Saskatchewan Heart Centre Saskatchewan Landlord Association Saskatchewan Media Production Industry Association (SMPIA) Saskatchewan Research Council Saskatchewan Young Professionals and Entrepreneurs Saskatoon Auto Connection Inc. Saskatoon Clayworks Saskatoon Media Group Saskatoon Transportation Link Saskatoon Women's Network Scirulìn Site Services Ltd. Scotiabank (Stonebridge) SheNative Shercom Industries Inc. Shona Ritchie SPARTAN Advisory Services Inc. STC Industrial Contracting Strong Roots Consulting Sylvia Fedoruk Canadian Centre for Nuclear Innovations Terrance Yaskowich The Barn at Wind's Edge The Pot Shack The Smith Investigation Agency The Urban Farmhouse Trades Labour Corporation Triovest Realty Advisors Inc. (River Centre) (River Landing) Turner Event Management U of S - College of Kinesiology U of S - College Of Law U of S - College of Medicine U of S - College of Nursing U of S - Division of Science, College of Arts & Science U of S - Innovation Enterprise U of S - Native Law Centre U of S - Office of the University Secretary U of S - Office of the VP Research UEX Corporation Universal Immigration Consultancy Ltd. Unmask and Evolve Wholistic Health & Wellness UNO Printing Co. VCA Frontier Animal Hospital Wayne Starling We Move Weidner Investment Services West 71st Street Storage Inc. Western Information Management Inc. WhiteHot Smile Teeth Whitening Service Wild Spirit Education Ltd. YXE Customs YXE Family Chiropractic YXE Immigration Inc.

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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CHAMBER SPONSORS

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

NEON 360 C

Thank you for supporting the Greater Saskatoon Chamber of Commerce

2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE |

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2020-21 BOARD OF DIRECTORS

Carla Browne

First Vice-Chair Nutrien

Second Vice-Chair Chicken Farmers of Saskatchewan

Graham Snell

Chris Sicotte

CeCe Baptiste

Todd Denzin

Katrina German Director KatrinaGerman.com

Joseph Gill

Director McKercher LLP

Juan Godinez

Tara McKeown

Dr. Adam McInnes

Sandra Ribeiro

Chair Real Canadian Property Management Professionals Inc.

Director Saskatchewan Indian Institute of Technologies (SIIT)

Director KPMG LLP

Jason Aebig

Director Nutrien

Director Conexus Credit Union

Director Med Hack Enterprises Incorporated

Past Chair Aon Reed Stenhouse Inc.

Director Canadian Light Source Inc.

As a member, you can play an important part in setting the direction of the Greater Saskatoon C h a m b e r o f Co m m e r c e b y nominating another member in good standing for available spots on the Chamber's Board of Directors.

Heather Ryan

Director Federated Co-operative Limited (FCL)

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Tanis Taylor

Director CCA Consulting

Colton Wiegers Director Wiegers Financial & Benefits

| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

The Chamber's Board of Directors helps to set the strategic direction of Saskatoon's largest business organization; as such, nominees are expected to meet minimum g ove r n a n c e a n d l ea d e r s h i p requirements. In addition, they should possess desired skills, experience and attributes that align to the Chamber's strategic goals for the next five years.

GREATER SASKATOON CHAMBER OF COMMERCE FINANCIAL STATEMENTS DECEMBER 31, 2019

Auditors' Report To the Members Greater Saskatoon Chamber of Commerce Opinion We have audited the financial statements of Greater Saskatoon Chamber of Commerce, which comprise the statement of financial position as at December 31, 2019 and the Statements of operations, fund balances and cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Greater Saskatoon Chamber of Commerce as at December 31, 2019, and the results of its operations and its cash flows for the year then ended in accordance with the applicable financial reporting framework.

Basis for Opinion We conducted our audit in accordance with Canadian generally accepted accounting standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter - Restated Comparative Information We draw attention to Note 9 to the financial statements, which explains that certain comparative information presented for the year ended December 31, 2018 has been restated. The financial statements for the year ended December 31, 2018 (prior to the adjustments that were applied to restate certain comparative information explained in note 9) were audited by another auditor who expressed unmodified opinion on thoses financial statements on March 21, 2019. Our opinion is not modified in respect of this matter.

Other Information Management is responsible for the other information. The other information comprises the information included in the annual report, but does not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

McClelland Debusschere CPA P.C. Inc. | 205-502 45th Street W. Saskatoon, SK, S7L 6H2 (P) 306-242-1019 (F) 306-978-1886 www.mdcpask.com

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Auditors' Report

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. At the date of our report, the annual report was not complete and available for our review.

Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with the applicable financial reporting framework, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing these financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to a going concern and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has no realistic alternative to do so.

Those charged with governance are responsible for overseeing the company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: 

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.



Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

McClelland Debusschere CPA P.C. Inc. | 205-502 45th Street W. Saskatoon, SK, S7L 6H2 (P) 306-242-1019 (F) 306-978-1886 www.mdcpask.com

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| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

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Auditors' Report 

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.



Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.



Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Saskatoon, SK March 25, 2020

Chartered Professional Accountants

McClelland Debusschere CPA P.C. Inc. | 205-502 45th Street W. Saskatoon, SK, S7L 6H2 (P) 306-242-1019 (F) 306-978-1886 www.mdcpask.com

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Greater Saskatoon Chamber of Commerce Statement of Financial Position December 31, 2019

2019

2018 As restated, see Note 9

Assets Current Assets Cash

$

Accounts receivable

372,226 $ 111,118

86,875

42,301

52,925

525,645

501,879

90,076

81,464

8,833

8,833

Prepaid expenses

Capital assets (Note 2) Security deposit (Note 3) $

362,079

624,554 $

592,176

Liabilities and Net Assets Current Liabilities Accounts payable and accrued liabilities (Note 4)

$

56,615 $

51,481

315,710

312,706

372,325

364,187

Net Assets Unrestricted net assets

(37,838)

(52,461)

Equity in capital assets

90,076

81,464

199,991

198,986

252,229

227,989

624,554 $

592,176

Deferred revenue (Note 5)

Internally restricted net assets (Note 6)

$

Commitments- (Note 3)

Approved on Behalf of the Board: _____________________________, _____________________________,

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Statement of Operations For the Year Ended December 31, 2019

2019 Revenue Program and events

$

Membership Fees Other Total revenue Operating expenses Membership and Administration

2018 As restated, see Note 9

796,154 $

898,337

620,029

558,234

5,814

4,169

1,421,997

1,460,740

790,763

855,661

Programs and Events

586,983

654,053

Amortization expenses

20,011

14,066

1,397,757

1,523,780

Total operating expenses Excess of revenue over expenses for the year

$

24,240 $

The accompanying notes are an integral part of these financial statements.

(63,040)

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Greater Saskatoon Chamber of Commerce Statement of Fund Balances For the Year Ended December 31, 2019

Unrestricted Net Assets

Balance, beginning of the year

$

29,297

Excess of expenditures over revenue Amortization Purchase of capital assets $

81,464

20,011

(20,011) 28,623

(37,838) $

Internally Restricted (Note 6)

$

-

(22,185) (12,500)

Inter-fund transfers Balance, end of the year

(52,461) $

Equity in Capital Assets

$

(5,057)

90,076

198,986

2019 Total

$

227,989

| 2019 ANNUAL REPORT GREATER SASKATOON CHAMBER OF COMMERCE

$

24,240

291,029 (63,040)

-

-

-

(6,438)

-

-

12,500

-

-

199,991

$

252,229

The accompanying notes are an integral part of these financial statements.

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2018 Total As restated, see Note 9

$

227,989

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Greater Saskatoon Chamber of Commerce Statement of Cash Flows For the Year Ended December 31, 2019

2018 As restated, see Note 9

2019 CASH FLOWS FROM OPERATING ACTIVITIES: Excess (deficiency) of revenue over expenses

$

Non-cash items: Amortization expenses

24,240 $ 20,011

Loss on sale of capital assets Change in working capital items: Prior period adjustment

24,447

-

(212,663)

10,624

Change in prepaid expenses

14,066

-

(24,243)

Change in accounts receivable

(63,040)

63

Change in trade accounts payable

(28,533) 25,294 (16,029)

3,004

253,187

Change in wages payable

2,597

14,944

Change in taxes payable

2,474

4,441

38,770

16,114

(28,623)

(82,059)

Change in deferred revenue

TOTAL CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of capital assets

-

Security deposit

(8,833)

NET CASH USED BY INVESTING ACTIVITIES

(28,623)

(90,892)

Net cash increase (decreases) in cash and cash equivalents Cash and cash equivalents at beginning of period

10,147 362,079

(74,778) 436,857

372,226 $

362,079

Cash and cash equivalents at end of period

$

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Notes to the Financial Statements For the Year Ended December 31, 2019 The mandate of the Greater Saskatoon Chamber of Commerce (the "organization") is to build the best business climate in Canada, thereby creating a city of opportunity. The organization was incorporated federally under the Board of Trade Act as a not-for-profit organization. Due to the nature of its activities as a not-for-profit organization, it is exempt from income tax.

1.

Significant Accounting Policies a.

Basis of preparation These financial statements have been prepared in accordance with Canadian accounting standards for not-for-profit Organizations ("ASNFPO") issued by the Accounting Standards Board of CPA Canada and set out in Part III of the CPA Canada Handbook. The organization has chosen to apply the following accounting policies.

b.

Cash and cash equivalents Cash and cash equivalents includes short-term investments and highly liquid investments in money market instruments which are carried at the lower of cost and market value with a maturity date of three months or less from the acquisition date. These are valued at cost which approximates market value.

c.

Capital assets Capital assets are recorded at cost. Amortization is provided using the following methods at rates intended to amortize the cost of the assets over their estimated useful life. In the year of acquisition, one half the normal rate is applied.

Computer equipment Furniture and fixtures Tenant improvements Website

d.

30% 20% 10 years 3 years

Declining balance Declining balance Straight line Straight line

Revenue recognition The organization follows the deferral method for recording contributions. Unrestricted contributions are recorded as revenue when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Restricted contributions are recorded as deferred contributions and recognized as revenue in the year in which the related expenses are incurred.

Internally restricted funds are recognized as revenue when received and designated by the board as internally restricted.

Membership fees are recognized on a evenly over the life of the membership. The insurance rebates, chamber on business luncheons, special events, advertising and other revenue are recognized as revenue in the the period which the related expenses are incurred. Investment income is recognized in the year in which it is earned.

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Notes to the Financial Statements For the Year Ended December 31, 2019 1.

Significant Accounting Policies continued e.

Contributed services The organization values contributed services at fair market value if available. The fair market value is based on the retail value of the services provided. Volunteers contribute a substantial number of hours each year to various committees and boards. Due to difficulty in determining the fair value, contributed services are not recognized in the financial statements.

f.

Use of estimates The preparation of financial statements in accordance with Canadian accounting standards for not-forprofit organizations requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Actual results could differ from those estimates and may have impact on future periods.

g.

Financial instruments The organization recognizes its financial instruments when the organization becomes party to the contractual provisions of the financial instrument. All financial instruments are initially recorded at their fair value.

All financial assets and liabilities are subsequently measured at cost or amortized cost and include cash, accounts receivable, accounts payable and accrued liabilities.

2.

Capital assets Capital assets consist of the following:

Cost

2018

Net Book Value

Net Book Value

37,156 $

(15,317) $

21,839 $

22,171

Furniture and fixtures

42,983

(11,258)

31,724

34,473

Leasehold improvements

28,246

(4,025)

24,221

24,820

Website

14,750

(2,458)

12,292

-

123,135 $

(33,058) $

90,076 $

81,464

Computer equipment

Total

$

Accumulated Depreciation

2019

$

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Notes to the Financial Statements For the Year Ended December 31, 2019 3.

Security deposit and lease commitment The organization entered into a 5-year lease agreement for the current premises commencing July 1st, 2018 with an option to renew. The organization is obligated to pay annual base rent of $74,000 for years 2019 - 2023, as well as its proportionate share of operating cost and property taxes. A security deposit of $8,833 was paid for the last month's rent along with operating costs.

4.

Accounts payable and accrued expenses Accounts payable consist of the following: 2019 Trade accounts payable

$

Wages & vacation payable Government agencies payable Total 5.

$

2018

23,033 $

22,970

26,208

23,611

7,374

4,900

56,615 $

51,481

Deferred revenue

Membership revenue

$

2019

2018

284,905 $

260,333

10,000

SABEX

3,500

Chamber on Tap

8,438

7,000

Bridge 2 Business

7,547

-

Magazine Ads

3,820

5,425

Other

1,000

1,350

Chamber on Business

-

17,398

Trip

-

17,700

$

315,710 $

312,706

Deferred revenue consists of monies received or receivable in 2019 that relates to membership renewal and events that take place subsequent to year end.

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Notes to the Financial Statements For the Year Ended December 31, 2019 6.

Internally restricted net assets

Building reserve

$

2019

2018

167,548 $

173,986

32,443

Civic election issues reserve $

199,991 $

25,000 198,986

In 2017, the organization established a reserve fund to cover the costs of promotion of business issues during future periods relating to civic, provincial and federal elections. A minimum of fifty percent of the reserve will be allocated to activities relating to the civic election. During the fiscal year, the organization set aside $12,500.

The building reserve is held for future improvements to the existing location or future relocation of the organization.

7.

Non-cash transactions During the year the organization entered into non-cash transactions whereby the organization received goods and services in exchange for memberships and advertising. The transactions are recorded at fair market value.

Total revenue and expenditures from these transactions in the current year are $88,483 (2018 - $118,255) and $56,734 (2018 - $113,861) respectively.

8.

Financial instruments The organization's financial instruments consist of cash, accounts receivable and accounts payable. It is management's opinion that the organization is not exposed to significant interest or credit risks arising from these financial assets and liabilities. The organization's cash is held in a Canadian Schedule A Chartered bank.

The fair values of these financial assets and liabilities approximate their carrying value, except where otherwise noted.

It is management's opinion that the organization is not exposed to significant credit, currency, interest rate, market or other risks.

9.

Prior period adjustment During the year it was discovered that membership revenue was recorded at the full price of the memberships.

However, a portion of the revenue should have been deferred as the period of the memberships went over multiple fiscal periods. As a result, deferred revenue was increased by $200,099, revenue decreased by $12,565 and unrestricted net assets decreased by the same amount $212,565.

10. Comparative figures Certain comparative amounts may have been reclassified form those previously presented to conform with current year presentation.

The accompanying notes are an integral part of these financial statements.

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Greater Saskatoon Chamber of Commerce Schedule #1 Revenue and Expenditures - Special Functions included within Programs and Events For the Year Ended December 31, 2019 2019 $

64,023

Chamber on Business - Expenditures

29,338

54,077

Net

24,199

9,946

Magazine - Revenue

86,759

91,602

Magazine - Expenditures

82,213

79,398

4,546

12,204

Net

Access Invitational Dinner and PIVOT Events - Revenue

33,220

-

Access Invitational Dinner and PIVOT Events - Expenditure

29,227

-

3,993

-

Net

Golf Tournament - Revenue

25,175

21,640

Golf Tournament - Expenditure

20,007

11,114

5,168

10,526

Net

Pulse on Politics - Revenue

32,656

-

Pulse on Politics - Expenditure

23,637

-

9,019

-

Net SABEX Business Awards - Revenue

195,505

267,110

SABEX Business Awards - Expenditure

158,857

246,323

Net

36,648

20,787

Small Biz Week - Revenue

35,906

-

Small Biz Week - Expenditure

35,908

-

Net

(2)

-

Summit - Revenue

22,825

-

Summit - Expenditure

22,387

-

438

-

Net

The accompanying notes are an integral part of these financial statements.

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2018

53,537 $

Chamber on Business - Revenue

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Greater Saskatoon Chamber of Commerce Schedule of Revenue and Expenses

2019

2018

Michelle Obama - Revenue

-

163,457

Michelle Obama - Expenditure

-

162,520

-

937

$

The accompanying notes are an integral part of these financial statements.

84,009 $

54,400

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