Wednesday, 27 October 2010

Comparison of Canadian Genealogical and FHS Finances

Each year organizations federally registered as charities in Canada for tax purposes are required to file T3010 returns with the Canada Revenue Agency. Part of the return, including financial information, is available on the Revenue Canada website.

Below is a summary of some bottom line information from the returns filed in 2009, mainly from Schedule 6 but in some cases where that is not available from Section D. Go to http://www.cra-arc.gc.ca/chrts-gvng/lstngs/menu-eng.html and search for "genealogical" or "family history" to see the complete returns.

In summary, of these ten societies five have net assests exceeding $100,000. By far the largest is OGS with net assets exceeding $2M. Half the societies report a surplus of revenues over expenditures. Again OGS has the largest surplus with BIFHSGO not far behind. On average for the ten societies net assets are 2.88 times expenditures with GANS having this ratio greater than seven.

The detail below indicates cases where societies receive government funding and indicate expeditures in management and administration,

The Alberta Genealogical Society had total assets of $148,681, and liabilities of $24,352. The total revenue was $141,098 of which the major component was revenue received from the provincial government of $76,817. Expenditures totaled $142,518 of which the largest moment was $114,692 for occupancy costs. The total expenditure on management and administration was $65,590.

The British Columbia Genealogical Society had total assets of $190,521 and liabilities of $7,490. Total revenue was $33,868, with  no revenue received from any level of government. Expenditures totaled $27,754 of which $11,351 was spent on management and administration.

The British Isles Family History Society of Greater Ottawa had total assets of $76,722 and liabilities of $28,490. Total revenue was $51,090 of which $17,855 were from memberships and $28,711 listed as other. Expenditures totaled $38,964 with $4,764 spent on management and administration.

The Manitoba Genealogical Society had total assets of $45,448 and liabilities of $15,083. Total revenue was $57,240, $20,502 from memberships and $18,852 from government sources. Expenditures totaled $58,222 of which management and administration accounted for $42,516.

The New Brunswick Genealogical Society had total assets of $177,755 including $99,350 as inventories and $74,536 as cash, bank accounts and short-term investments. Total liabilities were $12,014. Total revenue was $39,361 including $24,972 for memberships and $4,955 from government sources. Total expenditures were $37,098 including $22,159 for advertising and promotion.

The Genealogical Association of Nova Scotia had total assets of $301,042 and no reported liabilities. Total revenue was $23,058 of which $12,331 was from the sale of goods and services. Total expenditures were $42,912 of which $28,611 was spent on charitable programs, and $12,052 on management and administration.

The Ontario Genealogical Society had total assets of $2,574,939 of which $1,682,525 was held as cash bank accounts and short-term investments. Liabilities totaled $391,261. Total revenue was $641,731 including $286,328 from memberships, $27,188 received from governments, and $124,395 listed as other revenue. Expenditures totaled $628,220 of which $97,800 was spent on management and administration.

The Québec Family History Society had total assets of $54,811 of which $48,993 was held as cash bank accounts and short-term investments. Liabilities totaled $10,514. Total revenue was $49,625 the largest component of which, $34,893 was for memberships. No government revenue was indicated. Expenditures totaled $50,679 including $22,571 for occupancy costs. There were no costs for management and administration but $16,341 was reported for office supplies and expenses.

The Saskatchewan Genealogical Society had total assets of $124,741 including $104,644 in cash, bank accounts and short-term investments. Liabilities totaled $126,108 including $101,719 of deferred revenue. Total revenue of $240,414 included $132,619 from government sources. Expenditures of $261,701 included $174,927 for management and administration.

The Victoria Genealogical Society had total assets of $211,023 and liabilities of $74,150. Total revenue was $40,232 including $18,650 from government sources. expenditures totaled $36,629 with $470 spent on management and administration.

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