ˆˇ˚˚˘ ˚˚˛ ˚ ˝ collingwood school society · 2017. 12. 21. · t ransportation ex pense...

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2016-17 Annual Report@collingwoodschool

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Collingwood School

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Wow! Yet another amazing year at Collingwood School with so many wonderful moments across our two campuses. There’s no better way to summarize 2016-17 than with a customized version of our Facebook timeline. This stream of posts shows the diverse array of educational, social and community experiences that happen here each day. Our students enthusiasm for learning, smiles and accomplishments are unmistakable. We invite you to follow us on Facebook (and/or Instagram) and see these memories being formed in real-time. Feel free to like our posts generously. Go Cavs!

School in West Vancouver, BC

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Message from the Headmaster

Message from the Board Chair

Message from the Parents’ Council Chair

Message from the Alumni Association Chair

Society Financials

Foundation Financials

Message from the Foundation Chair

Rob Lake, Headmaster8 hrs -

As the year is coming to a close and as I look back to the 2016/2017 Academic year—my first at Collingwood—I can’t help but use the opportunity as a time for reflection and gratitude. As such, the timing for the Annual Report is perfect. There is a lot to be thankful for at Collingwood. As context, I intentionally live in a mode for sincere and continual improvement—in myself, in others, and for this remarkable school which the Board has entrusted to me. While improvement is healthy, and prevents complacency—it’s also not lost on me that there is so much we are already doing well, and which I’d like to acknowledge as I look back on my first full year as Headmaster. In Athletics, we took home numerous championships and medals in Field Hockey, Basketball, Skiing, Tennis, Rugby, Mountain Biking and Golf. Arts continues to be highlighted through the drama performances at both campuses, our award-winning music program and the work of the visual artists that lines the walls of both schools. We defined and expanded our philosophy around Service Learning, hiring a full-time Director of Service to take us to greater heights. And, our Academics remain superior—we saw 121 exceptional graduates last year, who received 702 offers from 132 of the most prestigious universities in the world. Returning to gratitude, I am so thankful for our talented faculty, our competent senior leadership team, our supportive donors, our committed alumni, our dedicated board of governors, and most of all to our incredible parents for entrusting the education of their children to us. This remarkable responsibility is never lost on me.

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Join us at the 2018 Collingwood School Spring Fair on Saturday April 28th!

Collingwood SchoolMay 26 at 2:35pm -

Earlier this week was the last Kindie Buddy visit of the year. Throughout the year, the kindergartens and Grade 12s got together for a bunch of fun seasonal events.

You and 126 others

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Brent Wolverton, ChairDecember17 -

The 2016-2017 year was a year of growth at Collingwood and as Chair, I am happy to report that I believe Collingwood is ideally positioned to leap ahead into the next chapter. Our goal is to solidify our place amongst Canada’s most prestigious schools and to build a multigenerational record of educating young minds. Rather than listing all of the things Collingwood has done this past year, I’d like to use this space to express gratitude to those in the trenches doing the work. To Rob, his senior team, the faculty, and the staff, thank you. Thank you for being the agents of improvement. Thank you for educating our children and for improving the process of education that will underwrite the School’s evolution as the world around us changes at a faster and faster pace. And thank you parents, for entrusting us with this thing called education and the task of creating, in your children, the next generation of leaders. Lastly, thank you to my fellow governors for all your time and support over the last year.

Board of Governors

Chair – Brent WolvertonPast Chair – David BustosVice Chair – Doug MasonSecretary – Ali PirbhaiTreasurer – Brent WolvertonChair, Parents’ Council – Mirjana PopescuChair, Alumni Association – Sara Pedlow

Dr. Haneef AlibhaiEtienne BrusonJames ClayPatti DaumRichard HarrisAshlee LewisStuart McLaughlinMelissa MoseleyCyrus NavabiChristopher PhilpsDavid Smith

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Collingwood SchoolNovember 23 at 12:11pm -

This year was another successful year for Collingwood Athletics with a number of trophies and championships. We also had a lot of fun, too!

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Jillian Bice-Campbell, Parents’ Council ChairDecember12 -

Wow! What an exciting year! In October I stepped into the role of Chair of Parents’ Council and since this report is focused on the 2016-2017 year, I would be remiss if I didn’t acknowledge last year’s team and their incredible work, under the leadership of Mirjana Popescu. From volunteering at the Welcome Back BBQ and celebrating the parade of 2017 Grads, to hosting our second annual Parent Conference at Morven - a “sold out” event—to successful UniShop sales and the weekly bringing together of ESL families with parent volunteers at English Corner, our events kept our volunteers’ hands and hearts full. The year had two very successful fundraising events — our CSL (Collingwood School at the Loft in Yaletown) and Spring Fair. At the end of the 2016/2017 school year, Parents’ Council transferred $160,000 to the School and a $20,000 balance was kept in the bank, representing the net profits of our events conducted throughout the year. Thank you Collingwood for your support and to our committed Parents’ Council volunteers—everything that’s accomplished is purely from a love of our school, our teachers, our families and our children.

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Collingwood SchoolOctober 23 at 12:11pm -

As always, this year featured a dizzying number of musical, theatric and artistic performances and exhibitions that allowed our students to show off their talents and hard work.

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Alumni Association Executive Committee 2016–2017

Malcolm Ert ’05Nikos Kallas ’97Brenna McLean ‘10Sara Pedlow ’03Dan Sander ‘97

Collingwood SchoolOctober 3 at 4:21pm -

Our student body is the sum of 1,263 motivated learners. One thing we all have have in common is an acute curiosity and the desire to pursue our academic best.

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Dan Sander, Alumni Association ChairDecember 11 -

This past year, the Alumni Association set out to explore, to learn, and to improve our approach to engaging with current students and with Alumni at Collingwood. Research conducted confirmed that Collingwood’s Alumni Association is relatively young with 3/4 of Alumni being 35 years of age or less. With the help of Elain Evans, Kathryn Slemko and the dedicated Alumni Executive, we focussed our attention on data collection, value-add propositions, and new engagement opportunities. We are pleased to report, with the help of Governor James Clay, we hosted the first ever Cav’s business lunch in Downtown Vancouver on November 2nd. This event sold out in less than one week, connecting Alumni in Vancouver, and seeing Alumni parents guiding some other Alumni towards employment opportunities. Other annual events included our address to the grads, the MacKenzie Awards, the Winter Social, the Dads, Lads & Grads rugby game, and the Alumni event for the World Rugby Sevens Series. There were many reunions—for the classes of 1992, 1997, 2002, and 2007 respectively, and our new Headmaster Rob Lake hosted special chapter events in California, Ontario, and the UK. On a personal note, my own class of 1997 saw over 60 guests in attendance, some all the way from Australia, England and Hong Kong—speaking to the strength of Collingwood in creating common values and deep lifelong connections amongst its Alumni. In closing, I’d like to thank Sara Pedlow ’03 for her time as Chair and am looking forward to the year ahead.

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Collingwood School Society FinancialsAugust 3 at 4:21pm -

Collingwood School Society

2016Actual

2015Actual

Revenue

Tuition fees $25,073 $24,563

Government Grants 3,271 3,313

Capital Fundraising 2,089 2,575

New Student Admission Fees 537 488

Parent Council Fundraising 89 198

Transportation Revenue 111 119

Other 280 327

Total Revenue $31,450 $31,583

Expenditure

Compensation $20,258 $19,173

Curricular 1,257 1,065

Professional Development 429 315

Building operation & maintenance 1,306 1,155

Transportation 513 517

Parent, alumni & community relations 468 356

IT Expenditure 383 373

General & Administrative 1,283 1,315

Interest 502 329

Amortization 2,657 2,430

Total Expenditure $29,056 $27,028

Excess Revenue over Expense - Before other items $2,394 $4,555

Master Campus Plan Expenses - $(345)

Fair Value Adjustment of Interest Rate Swap $(118)

Excess Revenue over Expense $2,276 $4,210

Statement of Operations ($ in 000’s)

COLLINGWOOD SCHOOL SOCIETY Statement of Operations

Year ended June 30, 2017, with comparative information for 2016

! See accompanying notes to financial statements.

Internally Externally Capital 2017 2016Operating restricted restricted assets Total Total

Revenue:Tuition fees 26,513,905$ - - - 26,513,905 25,832,346 Less: Bursaries granted (766,236) - - - (766,236) (758,983)

25,747,669 - - - 25,747,669 25,073,363

Government grants (note 11) 3,496,853 - - - 3,496,853 3,270,978 New student admission fees 539,415 - - - 539,415 537,001 Contributions received from

Parents’ Council Fundraising (note 13) - 188,518 - - 188,518 88,640 Transportation revenue (note 14) 130,133 - - - 130,133 110,835 Other (note 15) 366,366 - - - 366,366 264,903

30,280,436 188,518 - - 30,468,954 29,345,720

Expenses:Salaries and benefits 21,520,287 - - - 21,520,287 20,258,069 Professional development 387,856 - - - 387,856 429,399 Curricular expense 1,223,477 - - - 1,223,477 1,257,350 Buildings and grounds maintenance 1,336,753 - - - 1,336,753 1,306,018 Transportation expense (note 14) 531,011 - - - 531,011 512,635 Information technology 411,555 - - - 411,555 383,432 Parent, alumni and community relations 470,470 - - - 470,470 467,531 General and administrative 1,421,817 - - - 1,421,817 1,283,139 Amortization - - - 2,655,691 2,655,691 2,657,118 Interest 203,075 - - - 203,075 502,029

27,506,301 - - 2,655,691 30,161,992 29,056,720

Excess (deficiency) of revenue over expenses before other items 2,774,135 188,518 - (2,655,691) 306,962 289,000

Other:Fundraising (note 20) 472,184 - 835,803 - 1,307,987 2,104,494 Fair value adjustment on investments (125,540) - - - (125,540) -

Fair value adjustment of interest rate sw ap (note 10) 43,244 - - - 43,244 (117,543)

389,888 - 835,803 - 1,225,691 1,986,951

Net excess (deficiency) of revenue over expenses 3,164,023$ 188,518$ 835,803$ (2,655,691)$ 1,532,653$ 2,275,951$

DRAFT - September 26, 2017 !2

Collingwood Athletics

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Collingwood Arts

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Foundation Board of Directors

Chair – John O’NeillDavid BustosPat DelesalleDarrell ErtNick GeerGary HuebnerAshlee LewisStuart McLaughlinBrent Wolverton

Collingwood SchoolOctober 12 at 10:11am -

This year, our students had a multitude of service opportunities both locally and globally. One of these opportunities included an India Service Trip.

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Collingwood SchoolJune 23 at 10:11am -

Congratulations to all the 2017 Collingwood graduates. We know you’re going to do amazing things!

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John O’Neil, Foundation ChairDecember 16 -

The Collingwood School Foundation’s primary purposes are to lead the school’s fundraising initiatives, fund the school’s strategic plan, and create and build long term endowments for a variety of endeavours such as financial aid for students, and capital projects. The Foundation has been working throughout 2017 to organize itself, from an administrative and leadership perspective, to be ready to launch into a marketing and campaign phase in the year ahead. Also, the Foundation has adopted more detailed and stringent Investment Policies to better manage its funds raised and donated. We also had two Directors retire in 2017, David Bustos and Stuart McLaughlin. We thank them for their service and leadership. The Collingwood Foundation is committed to funding the school’s strategic initiatives, and to the conservative stewardship of its funds.

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Collingwood School Foundation FinancialsAugust 3 at 4:27pm -

Collingwood School Foundation

2016Actual

2015Actual

Revenues

Donations $135,425 $21,500

Investment Income 28,023 26,874

Gain (loss) on Investments 18,400 22,473

Fair Value Adjustments on Investments (21,977) (35,208)

$159,871 $35,639

Expenditure $14,747 $14,865

Donation to Collingwood School 1,600 2,100

Excess of revenue over expenses $16,347 $16,965

Fund Balances, beginning of year $849,241 $830,567

Fund Balances, end of the year $992,765 $849,241

2016Actual

2015Actual

Assets

Cash and Cash Equivalents $135,554 $-

Investments 866,188 848,422

Cash Surrender Value of Life Insurance 28,657 28,235

Total Assets $1,030,399 $876,657

Liabilities

Accounts Payable $6,100 $6,100

Due to Collingwood School Society 31,534 21,316

Fund Balances

Endowment Fund $893,165 $849,241

General Fund 99,600 -

Capital Fund - -

Total Liabilities and Fund Balances $992,765 $849,241

Statement of Operations and Fund Balances

Statement of Financial Position

COLLINGWOOD SCHOOL FOUNDATION Statement of Operations and Changes in Net Assets


!

See accompanying notes to financial statements.

General Endowment 2017 2016Fund Fund Total Total

Revenue:Donations 70,000$ 5,000$ 75,000$ 135,425$ Investment Income 4,190 30,331 34,521 46,126 Gain on disposal of investments 965 6,612 7,577 297 Fair value adjustments on investments - 27,043 27,043 (21,977)

75,155 68,986 144,141 159,871

Expenditures:Investment management fees and bank charges 251 6,832 7,083 6,628 Life insurance policy premiums - 706 706 706 Professional fees 184 8,173 8,357 7,413 Donations to Collingwood School (note 6) - 2,400 2,400 1,600

435 18,111 18,546 16,347

Excess of revenue over expenses 74,720 50,875 125,595 143,524

Net assets, beginning of year 99,600 893,165 992,765 849,241

Net assets, end of year 174,320$ 944,040$ 1,118,360$ 992,765$

DRAFT - September 8, 2017!2

COLLINGWOOD SCHOOL FOUNDATION Statement of Financial Position

June 30, 2017, with comparative information for 2016


Approved on behalf of the Board:

Director Director

2017 2016

Assets

Current assets:Cash and cash equivalents 50,302$ 135,554$

Investments (note 3) 1,086,864 866,188 Cash surrender value of life insurance policies (note 4) 30,289 28,657

1,167,455$ 1,030,399$

Liabilities and Fund Balances

Current Liabilities:Accounts payable 6,506$ 6,100$ Due to Collingwood School Society (note 6) 42,589 31,534

49,095 37,634 Net assets:

General Fund 174,320 99,600 Endowment Fund 944,040 893,166

1,118,360 992,765

1,167,455$ 1,030,399$



2016Actual

2015Actual

Revenues

Donations $135,425 $21,500




$159,871 $35,639






2016Actual

2015Actual

Assets




Total Assets $1,030,399 $876,657

Liabilities



Fund Balances



Capital Fund - -






!




75,155 68,986 144,141 159,871


435 18,111 18,546 16,347









Director Director

2017 2016

Assets



1,167,455$ 1,030,399$



49,095 37,634 Net assets:


1,118,360 992,765

1,167,455$ 1,030,399$



2016Actual

2015Actual

Revenues

Donations $135,425 $21,500




$159,871 $35,639






2016Actual

2015Actual

Assets




Total Assets $1,030,399 $876,657

Liabilities



Fund Balances



Capital Fund - -






!




75,155 68,986 144,141 159,871


435 18,111 18,546 16,347









Director Director

2017 2016

Assets



1,167,455$ 1,030,399$



49,095 37,634 Net assets:


1,118,360 992,765

1,167,455$ 1,030,399$


2

COLLINGWOOD SCHOOL FOUNDATION Statement of Operations and Changes in Net Assets Year ended June 30, 2017, with comparative information for 2016


Revenue:Donations -$ 75,000$ 75,000$ 135,425$ Investment Income 4,190 30,331 34,521 46,126 Gain on disposal of investments 965 6,612 7,577 297 Fair value adjustments on investments - 27,043 27,043 (21,977)

5,155 138,986 144,141 159,871


435 18,111 18,546 16,347



Net assets, end of year 104,320$ 1,014,040$ 1,118,360$ 992,765$ See accompanying notes to financial statements.

2

COLLINGWOOD SCHOOL FOUNDATION Statement of Operations and Changes in Net Assets Year ended June 30, 2017, with comparative information for 2016


Revenue:Donations -$ 75,000$ 75,000$ 135,425$ Investment Income 4,190 30,331 34,521 46,126 Gain on disposal of investments 965 6,612 7,577 297 Fair value adjustments on investments - 27,043 27,043 (21,977)

5,155 138,986 144,141 159,871


435 18,111 18,546 16,347



Net assets, end of year 104,320$ 1,014,040$ 1,118,360$ 992,765$ See accompanying notes to financial statements.

1

COLLINGWOOD SCHOOL SOCIETY Statement of Financial Position June 30, 2017, with comparative information for 2016

2017 2016

AssetsCurrent assets:

Cash and cash equivalents 20,958,751$ 14,853,234$ Accounts receivable (notes 3 and 18) 287,443 310,348 Prepaid expenses 499,108 304,061

21,745,302 15,467,643

Capital assets (note 4) 69,776,413 70,695,738 Investments (note 5) 9,938,835 - Long-term prepaid lease (note 6) 111,158 120,421 Other assets (note 7) 90,000 175,500

101,661,708$ 86,459,302$

Liabilities and Net Assets

Current liabilities:Accounts payable and accrued liabilities (note 10) 919,527$ 1,092,499$ Accrued salaries and benefits (note 8) 3,308,452 2,996,997 Tuition and other fees received in advance 23,286,497 5,531,612 Current portion of long-term debt (note 9) 1,050,000 16,623,615

28,564,476 26,244,723

Long-term debt (note 9) 11,350,000 -

Net assets:Unrestricted 4,272,775 6,121,630 Internally restricted 51,695 20,826 Externally restricted 46,349 - Invested in capital assets (note 12) 57,376,413 54,072,123

61,747,232 60,214,579 Commitments (note 15)

101,661,708$ 86,459,302$

See accompanying notes to financial statements. Approved on behalf of the Board: Brent Wolverton, Governor Patti Daum, Governor

1


2017 2016



21,745,302 15,467,643


101,661,708$ 86,459,302$



28,564,476 26,244,723




101,661,708$ 86,459,302$


1


2017 2016



21,745,302 15,467,643


101,661,708$ 86,459,302$



28,564,476 26,244,723




101,661,708$ 86,459,302$


1


2017 2016



21,745,302 15,467,643


101,661,708$ 86,459,302$



28,564,476 26,244,723




101,661,708$ 86,459,302$


ˆˇ˚˚˘ ˚˚˛ ˚ ˝ collingwood school society · 2017. 12. 21. · t ransportation ex pense...

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