2021-22 Annual Report

Empowering a New Generation: Fulfilling our purpose

Financial Overview

Financial Overview

For JA Central Ontario, the 2021-2022 school year marked the beginning of our recovery from the COVID-19 pandemic and related operational challenges. We continued to adapt and develop our learning experiences and fundraising activities in an online world, learning from the successes of the previous year to ensure student impact in this ever-changing environment.

This year’s revenue of $2.5 million is a year-over-year increase of 25%. This reflects a significant rebound from the previous fiscal year, which was negatively impacted by the challenges of operating in pandemic conditions. Our 2021-22 revenue was spurred by a mix of one-time and multi-year funding agreements, as well as generous individual donations and foundation grants. 

While revenue has begun to recover, operating in a virtual and pandemic environment has increased expenses across the organization. This year’s mix of learning experiences had a higher cost structure, fundraising during the pandemic was challenging, and the effects of inflation took their toll on financial results. Government COVID-19 subsidies also came to an end during this fiscal year.

Nevertheless, throughout the year we saw a path to recovery as pandemic restrictions ease, building back a sustainable foundation for the future of our organization.


Statement of Financial Position as of June 30, 2022

Assets 2022 2021
Cash & Investments $2,398,803 $2,921,018
Accounts Receivable & Other Assets 372,126 175,819
Total Assets 2,770,929 3,096,837
Accounts Payable & Accrued Liabilities 146,766 152,340
Deferred Contributions 176,391 213,166
Total Liabilities 323,157 365,506
Net Assets
Unrestricted 747,772 1,031,331
Endowment Fund 500,000 500,000
Internally Restricted 1,200,000 1,200,000
Total Net Assets 2,447,772 2,731,331
Total Liabilities & Net Assets $2,770,929 $3,096,837
Statement of Operations for the year ended June 30, 2022
Program Designated Contributions $1,823,589 $1,477,257
Donations and Other Contributions 182,729 179,451
Special Events 397,015 314,765
Interest and Other Income 128,854 58,203
Total Revenue 2,532,187 2,029,676
Program 961,370 712,888
Special Events 130,020 77,906
Resource Development 442,811 420,560
Administration & Program Support 812,292 709,657
Facilities 155,074 155,900
Marketing 67,245 72,822
Total Expenses 2,568,812 2,149,733
Excess/ (Deficiency) of Revenue Over Expenses Before Undernoted Items (36,625) (120,057)
Government Subsidy 88,702 279,067
Unrealized Gain (Loss) on Investments (335,636) 200,698
Excess/ (Deficiency) of Revenue over Expenses $(283,559) $359,708