The Community Foundation of PEI

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The Community Foundation of Prince Edward Island

Annual Report - 2006

President's Message

The Community Foundation of Prince Edward Island had a very successful year in 2006. Ten new endowments were added to funds under management and there was an increase of approximately $350,000 in assets. The total Fair Market Value of the consolidated Trust fund at year end was $866,866.80.

One of the major events held in 2006 was a reception on July 4 for American Summer Islanders. The reception, which was a great success, provided an opportunity for the Foundation to thank America summer islanders for their friendship and contributions to the Island. It also enabled people to meet one another and establish new friendships.

Other highlights during 2006 include:

The formation of the David A. MacKay fund which is our first endowment in the health field
The establishment of a Fund by an American Summer Islander
The commencement of a Summer islanders Legacy Fund
The launching of a Living Memorial Trust
A fund for the purchase of books for Islands schools, and
A rate of return on investments in the double digits.

The success achieved in 2006 was made possible by the efforts of a great many people including the Directors, Volunteers, our Office Administrator, Committee Members, Donors and Friends. A very special word of thanks to each one of you and I encourage you to continue the good work in the years to come.

Norman Carruthers

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Our Mission

To improve the quality of life in Prince Edward Island by providing a vehicle for donors to meet their charitable interests in perpetuity at a minimum cost and maximum convenience.

Our Vision

An organization that provides people and communities with opportunities to enhance their quality of life.

Charitable Numbers

Canada #: 890011190RR001

US IRS #: 30 0050801

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New Funds

Dr. Marlene Bryenton-Ghiz Park Fund in support of beautification of the Ghiz Park
David A. MacKay Fund for grants for improving response to cardiac emergencies
A partnership with the LM Montgomery Land Trust
Jessie Drummond public speaking award
Hesta MacDonald Legacy Fund for the purchase of books for Island schools
Summer Islanders Legacy Fund provides support for a wide variety of interests
Upson Fund available to support any cause
Cumberland Rocky Point Women.s Institute Fund for the support of literacy
T. Arthur Dawson Masonic Scholarship Fund
Living Memorial
Trust to support plantings in public spaces.

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Directors - 2006

Norman Carruthers, President
John Ives, Vice President
John Robinson, Past President
Bruce Lewis, Secretary
David Campbell, Treasurer
Heather MacDonald
Anne Nicholson
Joyce Gaudet
Margaret Ching
Myron MacKay
David Anderson

Office Administrator ~ Marla MacDonald

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Volunteers

Wendy Corrigan		Deborah Lavers
Lois MacMillan		Bob Ramsay
Tom Hall		Tony Glencross
Gerry Johnston		Greg Peters

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Donors 2006

Joan Auld & Keith Pigot	Phil Grubbe	Annette Purro
Katy Baker	Douglas B. Hall	John & Hazel Robinson
Kathleen Barbour	Dr. Thomas Hall	Susan Robinson
Nancy Barrett	Reg & Helena Hamill	Dr. Alan Robinson
David Bergmark	Douglas & Brenda Handyside	Andrew Robinson
Charles and Myrna Bond	Jerome Hannah	Deborah Robinson Annear
Keith M. Boswell	JoAnne Harrington	Lori J. Robinson
E. Vance Bridges	W. Douglas Henry	Mary Robinson
Dr. Marlene Bryenton	Blanche Hogg	Hilda Szaly
Aubrey & Marjorie Buchanan	John Howatt	Judy MacKay
Clare Butler	John Ives	Garth P. Toombs
William Callbeck	Arleon Kelly & Donna Meinhard	Charles & Lois Thurgood
David Campbell	John Klauck	Judge Thomas Upson & Katherine Upson
Mary Campbell	Timothy J. Klauck	George & Sheila Watson
Thane Campbell	Estate of Dr. Charles S. Keuper	Victoria Whitmore
Norman & Diana Carruthers	Elinore Keuper	James Wilmot
Edward & Margaret Ching	Mariano & Jana Laiz	Dorothy Wilson
Erin J. Coffey	Paul Lawrence	Anne Wood
Molly H. Colburn	Gordon & Leta Leard	Brenda Worrad
Rob & Alevia Colwell	Bruce & Kay Lewis	A. Buchanan Floor Coverings Ltd.
John Costello & Mara Foster	Leigh & Doris Linkletter	ADL
Shirley M. Crane	Don Livingstone	Aliant Telecom
Dr. Mike & Donna Daly	Harry & Anne Love	Cavendish Farms
Fred R. Daniels	Wilbur & Pauline MacDonald	Cooke Insurance
Carol A. Dawson	Dunstan & Heather MacDonald	Diagnostic Chemicals Ltd.
Stuart Drummond	Dr. Hesta MacDonald	Fast Foods (PEI) Inc.
Mary Mills Dunea	Norman MacDonald	GAIA Management
William R. & Donna Dutton	Marguerite MacEwen	Kool Breeze Farms Ltd.
Robert Farquharson	Kim MacKay	The Master Foundation
Don & Helen Flynn	Myron MacKay	O'Leary Farmers' Association Ltd.
Wallace Ford	Lois MacMillan	PEI Mutual Insurance Co.
Brian & Kate Gallen	Bruce MacNaughton	PEI Potato Marketing Board
Wendy Gardiner	Helen McBrien	R. B. Lowry Resources Ltd.
Linda Gee	Bernice McGee	RBC Royal Bank
Marguerite Ghiz	June McKarris	Rodd Management Ltd.
Roger Ghiz	Florence McNichol	Royalty Oaks Limited
Janet E. Glendenning	James & JoAnn McQuaid	Russell Ching Lt.
Donald & Carol Glendenning	Ken & Deanna Merriam	Scotiabank
Ken & Verne Glendenning	Helen Michael	South Shore Villa
Harold Godfrey	Robert & Dianne Mundy	Strait Crossing Bridge Ltd.
Vernon & Donna Goodfellow	Anne Nicholson	Veseys Seeds Ltd
Mark & Lulu Gordon	Tom O'Leary	Wilson & Detheridge
Bruce & Anne Grubbe	Joel Palter & Dr. Rachel Kassner
Debra Grubbe	Ross & Vodia Parker

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New Directors:

David Anderson became the Managing Director of Resources West Inc. in April 2004. Resources West Inc. is a community economic development agency tasked with stimulating the economy of Western PEI. Prior to his position at Resources West Inc. David managed real estate and development for the Summerside Regional Development Corporation. For 10 years prior to that, David worked with Irving Oil Ltd. as the retail supervisor and manager of the Charlottetown Business Office and PEI operations. David is a current member and past president of the Summerside Rotary Club, a member of the fundraising committee for the Summerside Wellness Centre, an executive member of the Tourism Industry Association of PEI and a member of the West Prince Chamber of Commerce. David resides in Summerside with his wife Terri.

Myron MacKay recently retired as owner and CEO of Fair Isle Ford Sales Ltd in Charlottetown; Myron had come to PEI in 1973, after 10 years with the Ford Motor Company in both Nova Scotia and Oakville, Ontario. In 1995, he was selected as MacLean.s National Dealer of Excellence, a recognition of leadership roles in both the both industry and his community. Over the years Myron has been, and still is, active in many community organizations. He was a founding member of the Rotary Club of Charlottetown Royalty, Past Chair of the Holland College Foundation, Past President of the PEI Automobile Dealers Association, Past President of the Belvedere Golf and Winter Club, and a Multiple Paul Harris Fellow to name but a few. Myron lives in Charlottetown with his wife, Diane.

Joyce Gaudet grew up in Wellington P.E.I. She retired in March 2006 after 33 years as a librarian with Unit 3 School Board and with Veterans Affairs Canada. She joined the Board in December 2006 and serves on the Granting Committee. Joyce is also involved in several community, church and professional organizations.

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Financial Reports: The financial records of the Foundation have been audited and a complete report is available upon request.

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Island Arts & Heritage Stabilization Program

In May 2004, under an agreement with Department of Canadian Heritage and the PEI Department of Community and Cultural Affairs, and with significant funding from the above and the Samuel and Sadye Bronfman Family Foundation, CFPEI launched the Island Arts and Heritage Stabilization Program. The sole purpose of the Program, IAHSP, is to build stronger and more viable organizations in the non-profit arts and heritage community of Prince Edward Island with the goal of long term viability.

Participating Organizations
Round One
Carrefour Theatre
College of Piping
Indian River Festival
Jubilee Theatre
PEI Symphony Orchestra
Victoria Playhouse

Outreach
Ars Longa Inc./The Guild
Friends of the Farmers. Bank, Rustico
PEI Crafts Council
PEI Music Awards Association

Arts & Heritage Stabilization Board
Ken Gillis, Chair
Jeanette Arsenault
Don Glendenning
Harry Holman
Dr. Ron Irving
Ms. Tanya O.Brien
Hon. Marion Reid
Darrin White

Executive Director ~ Katy Baker

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Funds Under Management

Community Foundation of PEI Consolidated Trust Fund Fair Market Value	31-Dec-06	31-Dec-05	Change
Unrestricted
Community Fund	$61,804.22	$57,534.16	$4,270.06
Foundation Fund (Combined)	$55,647.35	$53,056.35	$2,591.00
Fund # 1	$10,835.20	$9,316.29	$1,518.91
Eric C Robinson Fund	$70,233.01	$55,462.97	$14,770.04
Upson Fund	$1,033.37	$0.00	$1,033.37
Unrestricted Sub	$199,553.15	$175,369.77	$24,183.38

Interest Funds

Agricultural Equipment Fund	$5,366.20	$400.00	$4,966.20
Dr Marlene Bryenton Fund	$9,165.89	$0.00	$9,165.89
Beach Tennis Club Trust Fund	$0.00	$0.00	$0.00
J. Melville Campbell Fund	$10,496.59	$5,490.97	$5,005.62
Cumberland Rocky Point WI	$30,424.97	$0.00	$30,424.97
Jessie Drummond Fund.	$2,152.44	$0.00	$2,152.44
Glendenning Family Fund	$12,013.71	$10,540.53	$1,473.18
Living Memorial Trust	$7,517.80	$0.00	$7,517.80
Hesta MacDonald Legacy Fund	$1,074.04	$0.00	$1,074.04
David A MacKay Fund	$97,437.34	$0.00	$97,437.34
LM Montgomery Land Trust Fund	$551.72	$0.00	$551.72
Souris Fund	$17,061.87	$15,748.73	$1,313.14
Summer Islanders Legacy Fund	$5,979.10	$0.00	$5,979.10
Taylor Memorial Fund	$13,586.02	$12,294.75	$1,291.27
Visual Arts Fund	$3,698.86	$3,414.18	$284.68
Interest Sub	$216,526.55	$47,889.16	$168,637.39

Scholarship Funds

Auld Fund	$11,414.21	$10,627.72	$786.49
Bonnell Scholarship Fund	$23,617.08	$22,610.77	$1,006.31
Carver Scholarship Fund	$125,234.38	$118,386.45	$6,847.93
Phillips Scholarship Fund	$17,462.71	$16,624.95	$837.76
Summerside Natick	$12,300.10	$11,606.56	$693.54
Scholarship Sub	$190,028.48	$179,856.45	$10,172.03

Agency Funds
Architects Assn of PEI	$56,442.24	$52,098.27	$4,343.97
ALS Society of PEI	$0.00	$0.00	$0.00
T Arthur Dawson Masonic Fund	$13,000.41	$0.00	$13,000.41
Highfield Cemetery	$22,341.16	$21,602.55	$738.61
Island Shrine Club	$0.00	$0.00	$0.00
C.Gorden Lord Scholarship Fund	$13,035.59	$12,032.33	$1,003.26
MacMillan-Bagnall Shrine Trust	$0.00	$0.00	$0.00
Old Protestant Burial Ground	$54,310.38	$40,226.05	$14,084.33
P.E.I.Hospice Association	$101,628.84	$97,301.45	$4,327.39
Agency Sub	$260,758.62	$223,260.65	$37,497.97

Total Portfolio	$866,866.80	$626,376.03	$240,490.77

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Revenues and Expenditures for the year ending Dec. 31, 2006

2006	CFPEI	IAHSP	Combined Operations

Revenues

Contributions & Donations	225,135	65,976	291,111
Admin Fees Collected	10,080	0	10,080
Investment Income	19,356	20,432	39,788
Other Income	3,338	0	10,292

Revenues	$257,909	$86,408	$351,271

Expenditures
Wages and Levies	8,785	46,785	55,570
Grants & Scholarships	44,046	124,534	168,580
Agency Redemption	4,823	0	4,823
Professional Fees	1,161	1,718	2,879
Marketing & Advetizing	1,175	1,344	2,519
Office & Misc	3,488	6,156	9,644
Technical & Organizational Assistance	0	44,101	44,101
GST	2,038	0	2,038
Admin Fees	12,012	165	12,177
Rent	5,040	0	5,040
Insurance, Travel, Misc	2,969	1,945	4,914
Expenditures	$85,537	$226,748	$312,285

Excess revenue	$172,372	-$140,340	$38,986

Fund Balance B O Year at cost	$484,398	$360,654	$845,052

Fund Balance E O Year at cost	$656,770	$220,314	$884,038

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Investment Returns 2003-2006

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The Community Foundation of Prince Edward Island
Suite 105, 119-121 Queen Street, Charlottetown, PE C1A 4B3
Phone: (902) 892-3440; Fax: (902) 892-3880;
Email: foundation@cfpei.ca; Website: www.cfpei.ca

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