wideman education foundation · 2017-03-12 · towards the end of year, ruby lu submitted her...

WIDEMAN EDUCATION

FOUNDATION 2015 Annual Report

Prepared by Véronique Labeau

WIDEMAN EDUCATION FOUNDATION

15435 80A Ave, Surrey BC, V3S 7X7 www.widemaneducationfoundation.org

Teaching and developing future project

leaders

February 16, 2016

WEF 2015 Annual Report Page 1 of 24


TABLE OF CONTENTS

AGENDA ........................................................................................................................................................ 2

Minutes of 2014 ANNUAL GENERAL MEETING ............................................................................................. 3

INTRODUCTION TO ANNUAL REPORT FOR 2015 .......................................................................................... 5

About the Wideman Education Foundation ............................................................................................. 5

WEF's Mission Statement (short form) ..................................................................................................... 5

WEF Vision and 5-Year Goals Summary .................................................................................................... 5

Members of the WEF Board as at December 31st, 2015 ........................................................................... 6

REPORTS: ....................................................................................................................................................... 7

Message from WEF President ................................................................................................................... 7

Message from WEF Immediate Past President ......................................................................................... 9

Message from WEF Director at Large ..................................................................................................... 10

Message from WEF Secretary ................................................................................................................. 11

2015 Wideman Prize Competition .......................................................................................................... 12

Target Audience .................................................................................................................................. 12

Objective ............................................................................................................................................. 12

Competition Outline ........................................................................................................................... 12

D-DAY .................................................................................................................................................. 12

TREASURER’S REPORT: ................................................................................................................................ 20

Statement of Financial Position as at December 31, 2015 ..................................................................... 20

Statement of Operations as at December 31, 2015 ............................................................................... 21

Budget vs Actual and 2016 Proposed Budget ......................................................................................... 22

2015 Donor's List .................................................................................................................................... 23

MISCELLANEOUS ......................................................................................................................................... 24

Nominations for WEF Board 2016 .......................................................................................................... 24

Special Thanks ......................................................................................................................................... 24



AGENDA

Annual General Meeting, February 16, 2016

Suite 950 – 555 Burrard Street

Two Bentall Centre

Vancouver, BC

1. Confirmation of Quorum

2. Approval of Agenda for 2015 Annual General Meeting

3. Approval of Minutes of 2014 AGM (held on Monday, February 16, 2015)

4. Presentation of Annual Report for 2015

5. Proposed Budget for 2016

6. Nominations and Election of Foundation Officers

7. Other business

8. Adjourn



MINUTES OF 2014 ANNUAL GENERAL MEETING

Held on February 16th 2015 - At Annex Consulting Group

Suite 1300 – 1075 West Georgia, Vancouver, BC

In Attendance: Joan Vincent, President

Li Yang, Vice President

Véronique Labeau, Secretary

Ruby Lu, Treasurer

Harry Wong, Marketing Director

Tina Chahal, Director at Large

Regrets: Estelle L’Heureux, Director at Large

Kamal Masri, Board Liaison SFU

Eamonn O’Laocha, Board Liaison West Coast PMI Chapter

1. Confirmation of Quorum

A quorum of paid up WEF Directors was present and the AGM started at 6:45 PM.

Aside from correction of minor typos, the following AGM agenda was approved:

1. Confirmation of Quorum 2. Approval of Minutes of 2013 AGM (held on Thursday, March 13, 2014) 3. Presentation of Annual Report for 2014 4. Proposed Budget for 2015 5. Nominations and Election of Foundation Officers 6. Other business 7. Adjourn

2. Minutes of 2013 AGM - Approved

Aside from correction of minor typos, the minutes of AGM held on March 13th, 2013 was approved unanimously.

3. 2014 Annual Report - Approved

The 2014 Annual Report was presented together with all its associated sections as

previously circulated. Aside from correction of the section of Budget vs Actual and 2015

Proposed Budget the following were discussed.

4. Proposed Budget for 2015 - Approved

The board has discussed, revised and approved the proposed budget for 2015:

Total Revenues: $ 5,400

Total Project Competition: $ 3,075

SFU High School Events: $ 500

Total Administrative: $ 1,075

Gain(Loss): $ 750 5. Nominations and Election of Foundation officers



Joan presented the main changes on the board for 2015:

Marietta Heily-Van Os, resigned on September 9, 2014 as Director at-large

Jette Helin, resigned on September 16, 2014 as Director at-large

Estelle L’Heureux – stepped in as Director at Large

Tina Chahal – stepped in as Director at Large

Joan Vincent stepped down as President and nominee Immediate Past President

Li Yang stepped in as President

The Vice President position is now vacant

The following nominees have agreed to stand and are proposed as the slate for the Board of

Directors for 2015:

Position Name

President Li Yang

Vice President Vacant

Immediate Past President Joan Vincent

Secretary Véronique Labeau

Treasurer Ruby Lu

Director, Marketing Harry Wong

Director at-large Estelle L’Heureux

Director at-Large Tina Chahal

Board Liaison SFU Kamal Masri (non-voting)

Board Liaison West Coast BC Chapter PMI Eamonn O’Laocha (non-voting)

Joan moved that the nomination of Board members be approved. Approved Unanimously

6. Other business:

There being no other business for the AGM, the meeting was adjourned at 7:30 PM



INTRODUCTION TO ANNUAL REPORT FOR 2015

Max Wideman, Founder

P.Eng, FCSCE, FEIC, RICE, Fellow PMI

ABOUT THE WIDEMAN EDUCATION FOUNDATION

The Wideman Education Foundation ("WEF" 2007) is a registered charity tax-exempt status

under the Canadian Federal Government Income Tax Act. WEF offers a win-win opportunity for

donors and sponsors with a simple value proposition:

Project competitions that introduce high school and University students to basic project skills and experience

Identification of enthusiastic students capable of teamwork and leadership that benefit themselves, their families and communities

Planting the seeds of a future project-ready workforce for companies in need of project talent

Our motto is:

"Great oaks from little acorns grow"

WEF'S MISSION STATEMENT (SHORT FORM)

To teach, develop, promote and encourage the use of proven, successful project management

skills that are needed every day by everyone

WEF VISION AND 5-YEAR GOALS SUMMARY

To have the governance in place to allow self-managed teams to operate a standard model competition through various educational establishments constrained only by funding and volunteers - including volunteers from previous competitions.



To build a solid foundation of core processes and volunteers on subcommittees to enable this

To increase the number of University/School Board partnerships from the current one (SFU/Surrey School Board) to three.

To move from random solicitation of donations to include a committed group of donors

To move to an independent, fully maintained web site

MEMBERS OF THE WEF BOARD AS AT DECEMBER 31ST, 2015

1. Li Yang – Vice President

2. Joan Vincent – Immediate Past President

3. Véronique Labeau, Secretary

4. Ruby Lu, Treasurer – Resigned on December 21, 2015

5. Harry Wong - Director, Marketing

6. Tina Chahal – Director at-large

7. Estelle L’Heureux – Director at-large

8. Kamal Masri – Liaison SFU

9. Eamonn O’Laocha - Liaison West Coast Chapter PMI – Resigned from PMI CWCC Chapter board as of October 2015 (1)

(1) Note as of October 2015, Eammon has stepped down from PMI CWCC Chapter board.

As a result, he was no longer the PMI CWCC Chapter liaison to the WEF board. That

position has since become vacant.



REPORTS:

MESSAGE FROM WEF PRESIDENT

Li Yang, WEF President

2015 was a year for the WEF board to re-evaluate its mandate and to further

explore opportunities. In addition to organizing the Wideman Prize

Competition (Competition), we deepened our relationship with PMI CWCC

chapter, established new relationship with Project Management Association

of Canada (PMAC), expanded our reach to Douglas College, Langara

College, and Capilano University, and continued WEF’s connections with

Project Management organizations in the community.

Building on our past experience organizing the Competition, WEF engaged PM Volunteers to

recruit a Project Manager. Ahmed Nabeel Alvi, an experienced Project Management

professional who is passionate about education and a new comer to Vancouver, worked closely

with the board to plan and manage of the competition. Students from UBC, SFU and Langara

College took part in the competition, and learning and excitement were beneficial to all. Many

thanks to Estelle L’Heureux, who obtained the sponsorship from Douglas College and produced

the first ever competition handbook. The winning team from UBC and the runner up team from

Langara College were recognized at a PMI CWCC Chapter dinner event.

In March, with the support of PMI CWCC Chapter, WEF organized a heart-warming farewell for

the foundation’s funder and supporter Max Wideman and his wife Audrey Wideman. Many of

Max and Audrey’s long-term friends and colleagues came and celebrated the tremendous

contribution that Max had made to the Project Management community. Even though Max is

Toronto now, he continues to support WEF both with his wisdom and his wallet.

In May, WEF held a strategic session, facilitated by Tina Chahal, where the board discussed

about what WEF meant and how WEF could grow. The board concluded that: “WEF is an

inclusive community that promotes Project Management competencies and skills and connects

individuals and organizations to the world of Project Management.” In addition to high school

and post-secondary students, WEF should also explore opportunities working with professional

and industry associations and potentially targeting adults who have no formal training or

Canadian experience in Project Management.

In June, four (4) WEF board members became mentors of the pilot Project Management

Apprenticeship Program (PMAP) of PMI CWCC Chapter. In the second half of year, the mentors

and mentees had regular meetings. The hands on portion of the program meant that three of

the PMAP mentees became actively involved in the planning and promoting the Competition for

2016. They will also manage the Competition if it is held.

To increase the awareness of WEF and the Competition among post-secondary students, WEF

board decided over the summer of 2015 to change the Competition by removing the

requirement that all student teams need to be actively enrolled in project management courses.

A comprehensive competition package was developed and shared with post-secondary

institutions in lower mainland and University of Victoria with the help of Project Management



professors, the past Competition participants, and PMAP mentees. To provide guidance to

students who have not taken Project Management courses, WEF planned to offer a workshop.

The Competition date for 2016 was originally set for February. However, due to limited number

of teams that signed up by the deadline, the WEF board and PMAP mentees decided to extend

the deadline to mid-January and hold the Competition in April. A minimum of 10 teams was set

as the threshold to facilitate the go/no-go decision.

In the fall, WEF exhibited at Project World conference once again, thanks to the support from

the conference organizer Diversified Communications Canada, and especially Senior Group

Director Amy Ruddell. Keegan Wong, a member from the runner up team of 2015 Competition,

attended the conference free of charge. WEF will continue its effort for making such conference

assessable to students.

For the second year, Joan Vincent represented WEF and exhibited at BC Hydro’s Project

Management Conference.

PMAC collaborated with UBC Continuing Studies and organized a speaker/networking event for

the alumni of Program Management, Project Management, and Business Analysis certification

programs. I witnessed the well-attended event but did not speak about WEF. Both UBC and

PMAC are interested in hosting similar events in the future, and WEF should become an active

supporter in the future.

Towards the end of year, Ruby Lu submitted her resignation from the board as of December

31st. During her years on the WEF board, Ruby had been an active contributor to the board not

only with her accounting skills but her willingness to take on responsibilities to further WEF’s

mandate. Ruby’s service is much appreciated and will be missed. Ahmed Nabeel Alvi accepted

the invitation to join the board to serve as the Treasurer.

Looking into 2016, I am excited about growing the board’s maturity and further pursuing

opportunities that bring real benefits to all involved.

Sincerely,

Li Yang, CBAP



MESSAGE FROM WEF IMMEDIATE PAST PRESIDENT

Joan Vincent, WEF Immediate Past President

My work as Past President of the Wideman Education Foundation was,

in many respects, similar to my work as President. As there was no

Vice President for 2015 my duties seemed to blend between Past

President and VP. This blending suited me very well and, with the

support of the President and the Board following are some of the

“highlights” of my activities:

Participated in the West Coast Chapter of PMI Annual Conference

Worked as part of the team delivering The Wideman Prize Annual Competition

Acted as a Mentor for the Project Management Apprentice Program (an initiative of SFU

students)

Represented WEF at the “Project World” Conference

Represented WEF at the B.C. Hydro International Project Management Day event

Managed the “Raise a Glass for Max” event (Max Wideman's send-off)

Assisted in negotiating a new venue for our 2016 Wideman Prize event

Participated in team planning, and implementation of the “new model”* for our 2016

Wideman Prize Competition.

Created content for the “Crash Class” offered to participants of the 2016 Wideman Prize

Competition.

Secured appropriate Judges” for the2015 Wideman Prize Competition Evaluating Panel.

WEF chose 2015 as a time to experiment with and expand the traditional “Competition Model”

with full knowledge of the unknowns and risks involved. Results to date have been successful –

with corrections and new strategies being developed along the way as needed. The Board

worked together very effectively providing energy and motivation necessary to move this new

concept forward. In my opinion, this success is directly related to the strength and leadership

skill of our President – as well as an outstanding team!

My achievements as Past President would not have been possible without the support of the

Board. Thank you. Serving the Wideman Education Foundation has been an honour and

privilege. My thanks to the Foundation for providing me with many opportunities.

Joan Vincent

Founder, Past President

Wideman Education Foundation



MESSAGE FROM WEF DIRECTOR AT LARGE

Tina Chahal, WEF Director at Large

In May, WEF held a strategic session, where the board discussed

about what WEF meant and how WEF could grow. The board

concluded that: “WEF is an inclusive community that promotes Project

Management competencies and skills and connects individuals and

organizations to the world of Project Management.” In addition to high school and post-

secondary students, WEF should also explore opportunities working with professional and

industry associations and potentially targeting adults who have no formal training or Canadian

experience in Project Management.

In June, 4 WEF board members became mentors of the pilot Project Management

Apprenticeship Program (PMAP) of PMI CWCC Chapter. The three of the PMAP mentees were

actively involved in different activities such as project managing the completion, planning and

promoting the Competition for 2016.

To increase the awareness of WEF and the Competition among post-secondary students, WEF

board decided to change the Competition requirements by removing the need for all student

teams to be actively enrolled in project management courses. A comprehensive competition

package was developed and shared with post-secondary institutions in lower mainland and

University of Victoria with the help of Project Management professors, the past Competition

participants, and PMAP mentees. To provide guidance to students who have not taken Project

Management courses WEF planned to offer a Project Management workshop.

The Competition date for 2016 was originally set for February. However, due to limited number

of teams that signed up by the deadline, the WEF board and PMAP mentees decided to extend

the deadline to mid-January and hold the Competition in April. A minimum of 10 teams was set

as the threshold to facilitate the go/no-go decision.

We continue efforts of networking and marketing by exhibiting at Project World conference,

exhibiting at BC Hydro’s Project Management Conference, meeting with post-secondary

professors, post on social networks, etc.

Tina Chahal

Director-at-Large




MESSAGE FROM WEF SECRETARY

Veronique Labeau, WEF Secretary

“The Secretary position requires more than being present at board

meetings. The Secretary is an important and active link for critical

communication; meeting notices, agenda’s, distribution of materials,

taking Minutes and being the voice for the organization’s

documentation management”.

This is the WEF advertisement listed on Annex Consulting website that

immediately caught my attention in September 2013. At that period, I had recently relocated to

Vancouver from Paris and was looking for an engaging opportunity such as this to get involved

in the project management community and continue to develop my skills and qualities as well.

Today, I acknowledge that I have learned a lot from this unforgettable and positive experience.

It was a great opportunity to work with extraordinary professional and talented board members,

while improving my English communication by taking effective and organised notes. This

experience also leads me to meet PM professionals throughout different events related to WEF

mandate such as:

SmartKidz as a judge,

Project World, participating in the WEF’s booth management

Wideman Prize Competition.

I participated in the two (2) last Wideman Prize Competition and I found that it was an amazing

event for the young people. It gave them the opportunity to get a better understanding of project

management from professionals and also provided them with great tools above and beyond the

requirement of classwork. What did I like best about the competition experience? The

excitement prior the event and the impressive level of skills of the students. What have I learned

from the Wideman Competition? Always having fun in whatever I am doing!

Yes, I have enjoyed serving on the WEF Board and I am very grateful for the opportunity that

Joan Vincent and Li Yang gave me two (2) years ago. Today, it is with enormous regret that I

resign from my position of Secretary on the Board of Wideman Education Foundation. I had

some great times working with you all.

My achievements as Secretary would not have been possible without the support of the Board.

It was an honour and privilege to serve the Wideman Education Foundation. Thank you.

Veronique Labeau

Secretary




2015 WIDEMAN PRIZE COMPETITION

Ahmed Nabeel Alvi

2015 Wideman Prize Competition Project Manager

For the sixth consecutive year, WEF hosted its annual Wideman

Prize Competition in Project Management at SFU’s Surrey Campus

on April 11, 2015 from 9:30am to 3:00pm. The purpose of the

competition is to promote project management and leadership skills

that are critical components in today’s professional toolkit.

The theme of the competition was “Giving Back”.

TARGET AUDIENCE

The annual prize is awarded to teams of students who demonstrate excellence in Project

Management skills by following PM principles and stages from its conception to execution.

The competition was open to students enrolled in Wideman Education Foundation approved

PM under-graduate classes.

OBJECTIVE

By introducing the element of competition to student’s educational environment, the prize is

designed to lift the bar on student’s achievement levels and to attract a broader cross section

of under-graduate students to Project Management as a profession

The Wideman Prize helps students experience Project Management in the real world and

encourages them to develop the skills needed to succeed in today’s complex and fast paced

projects. This “hands-on” experience enables the participants to get exposure, professional

guidance and confidence to meet the expectations of their future employers.

COMPETITION OUTLINE

Original estimate of teams who would participate in the final 10

Teams actually selected to go through to the finals 10

Actual count participating in the final 10

Confirmed Teams who cancelled (1 day before event) 1

Number of participating judges 9

D-DAY

10 teams represented by SFU, UBC and Langara participated in the competition.



Institutions Team Name

UBC-Team 1 Timeless Talent

UBC-Team 2 E-Bike Revolution

Langara Team 1 National Nutrition Month

Langara Team 2 Go out and Vote!

SFU Team 1 Cash Cows

SFU Team 2 Flying Fish Consulting

SFU Team 3 Paallikot

SFU Team 4 Pacific Giants

SFU Team 5 Power Rangers

SFU Team 6 Team 361

2015 Wideman Prize Competition Crew

The Judges

Team projects were judged by a 9 -member panel represented by diverse industry professionals on project value delivered, sustainability and specific project management outcomes.



Key note Speaker:

In order to engage more professionals and give exposure to students on real

challenges of project management, Eileen Iverson facilitated a session for the

competition participants.

Eileen is a certified Project Management Professional (PMP), a Lean Six Sigma Green

Belt (LSSGB), holds a Diploma in Management Studies and Certification in

Information Technology. She is an experienced senior project manager with over 30

years of a proven track record as a leader and ability to manage and deliver results in

both public and private sectors and is currently employed at the City of Surrey.



The keynote covered areas on:

What qualities you need to be successful as a Project Manager in the public sector?

What are employers looking for?

Skills you need to be successful and how you can build your toolkit to complement these skills today to excel in an exciting career of Project Management.

The presentation was followed by a Q/A session which was very beneficial for the

students

The Winners

The E-Bike Revolution team from the University of British Columbia (UBC), Vancouver campus demonstrated to the panel of nine judges their skill and leadership in planning and executing their project to the highest of standards. Working as a team, e-Bike Revolution partnered with OHM Cycles, an e-bike manufacturer based in Abbotsford, to hold a test drive event for the UBC community that had over 120 participants trying an e-bike – double the team’s original target.

The winning team among finalists received a prize award of $2,500 to develop their project management objectives and skills and was also recognized at PMI CWCC Chapter Annual Conference & Industry Showcase Conference on May 20, 2015.



2015 Wideman Prize winners – E-BIKE REVOUTION

WEF at the West Coast BC Chapter “Annual Conference & Industry Showcase Conference”

Lesson Learned for future competitions:

The 2015 Wideman competition was a great opportunity for students to build valuable

connections and focus on developing their project management skills. The introduction

of key note speaker was a great idea as it gave an opportunity for students to get a

better understanding of project management from professionals.

Some judges felt that more time on analysing projects would improve the assessment

of the hard work put up by students. More interaction with instructors and students will



help improve the competition at large.

Exposure through social media and electronic media can help build this competition

more than its current state as it could attract more corporate sector in sponsoring the

competition, draw attention to issues and projects delivered by participants and

acquire talent for its workforce.

2015 Competition Budget

Event came in just under budget.

Budget was for $ 3,075

Actual cost was $ 1,765

Survey

This year again, WEF conducted a survey for the 6th Annual Wideman Prize

competition towards the participants on the D-Day that includes judges, students,

observers, and guest. The survey method included a questionnaire that was designed

to capture the respondents’ feedback about the competition processing before and on

the day of the competition. The data will be used to improve and expand the future

competitions, including the marketing effort, judging criteria and process as well as the

general communication prior the competition.

The overall sentiment among the respondents for the 2015 Wideman Prize

competition was 4-Good. The students found it was a positive experience and

excellent to practice presenting, networking, and a fantastic opportunity to get

feedback from PM professionals. Majority of the students indicated that they would

recommend the competition to a friend and are willing to help WEF promoting future

competitions.

The respondents’ recommendations for the future competitions:

The judges recommended improvements should be done about the project

documentation (50%), the competition structure (21%) as well as about the

organization prior the event.

They suggested to get students (winning or runner-ups) who have participated

in competition to promote experience in the next semester' project

management course at their respective schools and towards other institutions.

The students recommended more communication prior the competition as well

as a clear deadline and expectation of the competition.

Feedback from participant

From: Raman Johal [mailto:[email protected]] Sent: Monday, June 08, 2015 6:04 PM To: [email protected]; [email protected] Subject: My Thoughts on the WEF Competition

mailto:[email protected]





Hi Li and Joan,

I apologise for this email being rather late. I have been extremely busy these past few weeks with my 2 jobs. The WEF Project Management Competition has been an incredible experience, I truly learnt so much. I wanted to mention 4 items in particular:

1) Take Part - When Rob first mentioned the competition in our project management class, I immediately dismissed it. As someone who, unfortunately, likes to take a back seat in proceedings, I shied away from the competition. I was actually quite close to not even taking the class! The thought of completing a real life project scared me, but I bit the bullet and signed up, and let me tell you I am so glad I did. Rob is an incredible professor: his knowledge and experience with project management is considerable, and his approach to teaching kept the class content fresh and interesting. After our e-Bike Revolution event occurred, Rob approached the team once again and asked whether we would be interested in the competition. To my initial dismay, the rest of my team were completely onboard. After realising how much I'd learnt during the class and that none of it would've happened if I didn't take the leap and sign up, I decided I needed to recognise the incredible opportunity the WEF Competition was. I jumped headfirst into the competition along with my teammates and it truly was an amazing experience. I've learnt that I should be more proactive and take part in things as they can lead to wonderful experiences.

2) Be Positive - I am, by nature, a pessimist. I always look on the bad side of things. In the lead-up to the event, I had some major doubts about whether it would be successful. The same occurred on the day of the competition. However, both our event and the competition ended up going extremely well. We doubled our target participants for the event and won the competition. I've learnt that I should be more optimistic and keep a positive attitude even when things look bad. Getting bogged down during hard times doesn't help anyone whereas positivity can lift the entire team's spirits.

3) Have Confidence - I have always hated presenting. I get extremely nervous and don't think I get my point across very well. On the day of the competition, I received unbelievable praise in regards to my presentation skills. It was very reassuring hearing the positive comments from the judges on my skills and that our presentation format was a key deciding factor in our win. The highlight, however, was having members of the other competing teams ask if I took part in presentation competitions often. When I told them that I didn't, they said that I should, they thought I was that good! This single piece of encouragement is worth more than any amount of money we could've received for winning. I've learnt to have more confidence in my abilities and not write myself off.

4) Don't Underestimate - When I first heard that Langara College were competing, I didn't think much of them. I know, it's terrible. But boy did I learn my lesson. I was blown away by the incredible quality of both Langara teams' presentations. I am thoroughly looking forward to Douglas College entering the competition and I hope I get to see them in next year. I've learnt not to underestimate my competition, I can learn a lot from them.

Finally, I want to say a huge thank you to both of you. The WEF Competition has been one of the best experiences of my life thus far. I will cherish it for the rest of my days. I can't wait for next year's competition! Raman Johal Research Assistant, Sustainability and Ethics Group Sauder School of Business University of British Columbia

Competition Planning for 2016



The 2016 Wideman Competition is planned for April 30, 2016 at Langara College. A

total of 11 teams signed up: 5 from UBC, 5 from SFU, and 1 from Langara College. So

the competition will go ahead and WEF will follow the timeline as planned, starting with

a Q & A session for students registered to the 2016 Competition on Saturday February

6th at SFU Surrey Campus.



TREASURER’S REPORT:

Ruby Lu, WEF Treasurer

To summarize the 2015’s activities:

Total donation received: $2,539.13 Total interest revenue: $889.64 Total GST refund: $32.53 Total membership: $70 Total expenditures: $1,900.92

Cash balance at the end of the year: $4,439.45

In 2015, we raised $1,869 less fund than budgeted, however, we spent $2,749 less than budgeted due to cost saving in competition and the absence of BoD liability insurance.

STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2015


Statement of Financial Position

As at December 31, 2015

Assets: Cash Operating Fund $ 4,439.45

Investments Term Deposit 12 month - Emergency reserve 1,500.00

Term Deposit 12 month - Emergency reserve 1,500.00 Term Deposit 12 month - Non-Redeemable 50,000.00 Other Assets

Membership share at VanCity 67.63 Total Assets

$ 57,507.08

Liabilities: Accounts Payable $ -

Total Liabilities

$ -

Restricted Fund 53,067.63 Operating Fund Surplus 4,439.45 Total Liabilities and Surplus

$ 57,507.08

Note: Financial Statement prepared on a cash basis.



STATEMENT OF OPERATIONS AS AT DECEMBER 31, 2015


Statement of Operations

31-Dec-15

Operating Fund Balance Beginning

$ 2,809.07

Revenues Revenues from Donations and GST rebates $ 2,572.66

Revenues from Investments 889.64 Revenues from Membership Fees 70.00 Total Revenues

$ 3,532.30

Expenditures Expenditures on charitable programs $ 1,764.99

Expenditures on management and administration

BC 2014 Registry 25.00 Other administrative expenses 111.93

Total Expenditures

$ 1,901.92

Net Income (Loss)

$ 1,630.38

Operating Fund Ending Balance

$ 4,439.45

Membership Account Membership account opening

$ 65.34

Membership Dividend

2.29

Membership account closing

$ 67.63

Note: Financial Statement prepared on a cash basis.



BUDGET VS ACTUAL AND 2016 PROPOSED BUDGET


Budget vs. Actual

As at Feb 16, 2016

2014 2015 2016

Revenue Budget Actual Variance Budget Actual Variance Proposed

Fund raising and investments 5,200 3,071 2,129 5,400 3,532 1,868 5,000

Total Revenues 5,200 3,071 2,129 5,400 3,532 1,868 5,000

Expenditures

Project Competition

Site Expenses 0 0 0 0 0 0 0

Administrative 120 234 -114 250 59 191 200

Cash Award 2,500 2,500 0 1,250 1,000 250 500

Frame for winning school 0 0 0 75 0 75 75

Dinner for runner-up 0 0 0 300 0 300 300

Gift vouchers 0 0 0 0 50 -50 0

Finalist book voucher 0 0 0 0 0 0 0

Catering 700 659 41 900 481 419 635

Event insurance 175 125 50 175 175 0 175

Contingency 125 0 125 125 0 125 150

Total Project Competition 3,620 3,518 102 3,075 1,765 1,310 2,035

SFU High School events

Catering & refreshment 500 0 500 500 0 500 500

Administrative

Annual report filing 25 25 0 25 25 0 401

Misc. for postage etc. 100 0 100 100 0 100 100

BoD liability insurance 750 0 750 750 0 750 750

Fundraising 0 258 -258 100 48 52 100

WEF web hosting 150 55 95 100 64 36 125

Marketing/Promotion

500

Total Administrative 1,025 338 687 1,075 137 938 1,615

Total Expenditures 5,145 3,856 1,289 4,650 1,902 2,748 4,150

Gain (Loss) 55 -785 840 750 1,630 -880 850

1 $ 25 + $15 for updating address



2015 DONOR'S LIST

Donor Name Amount

Excess from Christmas dinner $16.00

LAD Custom Publish, USD $25 $30.53

Li Yang (thru Canada Helps) $50.00

Max Wideman $50.00

IACT Consulting (Li Yang) $1,000.00

Max Wideman $82.60

Anonymous (thru Canada Helps) $15.00

Leah Stasik (thru Canada Helps) $250.00

Ruby Lu (thru Canada Helps) $20.00



Max Wideman (thru Canada Helps) $1,001.00

$2,540.13



MISCELLANEOUS

NOMINATIONS FOR WEF BOARD 2016

The following nominees have agreed to stand and are proposed as the slate for the Board of

Directors for 2016:

Position Name

President Li Yang

Vice President Vacant

Secretary Vacant - Recruiting in progress

Treasurer Ahmed Nabeel Alvi

Director, Marketing Harry Wong

Director at-large Estelle L’Heureux

Director at-Large Tina Chahal

Director at-Large Mitra Kiamanesh

Board Liaison SFU Kamal Masri (to be confirmed)

Board Liaison West Coast BC Chapter PMI Vacant

SPECIAL THANKS

B.C. West Coast Chapter of PMI

Annex Consulting Group

Project World

Simon Fraser University – Surrey Campus

Beedie Scool of Business, SFU

wideman education foundation · 2017-03-12 · towards the end of year, ruby lu submitted her...

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