“The Citizens Foundation Canada” released its finacial statment:
TCF Canada recently received “unqualified” audit report from E&Y (Ernst & Young) for its 2019 financial results. This is itself a recognition of the transparency, and best practices being employed in governance structure of TCF. This is quite significant since TCF Canada is largely a volunteer run organization rather than primarily being dependent on salaried staff and still we have been able to get unqualified opinion by the prestigious auditor. Highlights of the fiscal 2019:
• Total Revenue on cash basis was $3,001,492. This represents a 25.43% growth over 2018;
• TCF Canada spent $3,100,860 on school support, construction and Aagahi by paying this amount to TCF Pakistan; Canada supported some 100 school units consistently throughout 2019; Vancouver chapter raised $107,712 during the year 2019. This is way higher than $46,780 that was raised in 2018. This has enabled Vancouver chapter to support 2 primary schools and Aagahi program in the respective communities. The schools that Vancouver chapter supported were located in Sheikhupura and Gujranwala region. They are located in remote communities in villages which have benefited a lot from TCF presence. It has only been possible because of strong, continued and committed support of TCF’s donors in BC.
We also want to highlight that since we are going through difficult times because of COVID19 pandemic, we are indeed having trouble in sustaining and increasing our donations during 2020 but TCF’s prudent management practices have ensured that all of 18000 staff employed by TCF Pakistan continues getting paid their salaries since most of the staff i.e. school teachers, drivers, security guards, peons also belong to a very vulnerable strata of society. This step has ensured that they do not fall into the poverty trap caused by pandemic and in turn can help their families and communities. TCF Pakistan also ran a COVID relief campaign with 20% of the donations they raised in communities where they are located and provided relief to needy families.