Financials
Balance Sheet
As at December 31
| 2011 | 2010 | |||
| ASSETS | ||||
| Current | ||||
| Cash and cash equivalents | $ | 226,092 | $ | 1,182,640 |
| Short-term investments | 1,512,534 | 1,000,000 | ||
| Accounts receivable | 484,771 | 160,325 | ||
| Current portion of note receivable | 232,103 | 222,523 | ||
| Program materials held for sale | 98,403 | 51,740 | ||
| Prepaid expenses | 49,851 | 30,142 | ||
| 2,603,754 | 2,647,370 | |||
| Investments, at market value | 13,484,482 | 13,130,410 | ||
| Note receivable | 1,349,274 | 1,582,160 | ||
| Capital assets, net | 282,667 | 106,547 | ||
| Other long-term assets | 169,435 | 155,773 | ||
| $ | 17,889,612 | $ | 17,622,260 | |
| LIABILITIES AND NET ASSETS | ||||
| Current | ||||
| Accounts payable and accrued liabilities | $ | 604,123 | $ | 938,689 |
| 604,123 | 938,689 | |||
| Deferred contributions | 457,380 | 274,325 | ||
| Deferred lease inducement | 190,913 | – | ||
| 1,252,416 | 1,213,014 | |||
| Net Assets | ||||
| Endowments | 14,135,649 | 13,787,528 | ||
| Board restricted | 2,298,082 | 2,467,122 | ||
| Unrestricted | 203,465 | 154,596 | ||
| 16,637,196 | 16,409,246 | |||
| $ | 17,889,612 | $ | 17,622,260 |