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Originally Posted by SuperMatt18
He’s clearly using the data from the annual report listed at $538k in expenses. He didn’t just make up a random number, it’s the number shared in their public financial report.
Difference probably truly come between what the Flames are stating as expenses in that “Other Expenses” line item in the CRA report but are choosing to remove from the Annual report.
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Yes of course.
EXCEPT THERE IS NO PUBLIC FINANCIAL REPORT. The annual report is non-audited info-graphic with an intended aim of saying how great the foundation is. It doesn't scratch the surface of an actual financial report and could be much more bias with the numbers used. I'm not saying the annual report is necessarily incorrect in its reporting of the expenses, but let's not confuse the two.
Still, the difference is he actually would know what those other expenses are and could have taken all of 20 seconds to give us an explanation. If he actually wanted to be transparent. And I don't know why a Charity, who truly believes they are run well, would not want to explain as much as possible whenever they get a chance. I mean charities love going off on their numbers when they know they are killing it, try and find someone high up in the United Way and get them to shut up about their expenses and costs vs dollars sent to charities.
It's very possible that of the 1.2M in expenses, as reported to the CRA, that 700K of it was to provide puppies to orphans with terminal illnesses. The point was, for the sake of transparency, he could have discussed it. He could explain why the annual report is stating 538,000 (2017-2018) while the expenses to the CRA is saying 1.2M (2017).
I mean, he's a COO and President of the Flames, treasurer of the Foundation He knows where Charity Intelligence was getting their numbers from, CRA reports and past financial statements. I don't know why he was pretty much feigning ignorance of it. And 100% this could all be avoided if they were just transparent. It's a charity foundation for Gosh sake, post your financial statements on your website so everyone knows. It shouldn't be a secret. And to clarify, the annual report is not the same as a financial statement that the Foundation should be posting.
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Poor financial transparency is particularly curious at Edmonton Oilers Foundation and Calgary Flames Foundation. Financial transparency is a best practice, widespread among many other Western Canadian charities, particularly in Alberta.
Financial transparency is a core value in Charity Intelligence’s objective rating. If these team foundations simply posted audited financial statements for the two most recent years, overall star ratings would likely increase 1 star.
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Also I would be hesitant in claiming that Charity Intelligence's assertion about the 960,000 spent on the special events is a lie or wrong. They received the financial information from the Flames Foundation and have no reason to be dishonest about it. Again, if a independent, non-profit, charity watchdog is calling you out, especially when your peers in the exact same situation are performing so much better than you, you should sit down and try to figure out why exactly (unless of course you already know why...).
Here's the financial statement of the MLSE Foundation. It took me literally 3 seconds to find:
http://www.mlsefoundation.org/getatt...31910.pdf.aspx
Here's the financial statement of the United Way Calgary and Area. It took me all of two seconds to get:
https://www.calgaryunitedway.org/ima...2018-03-24.pdf
Good charities have no problem showing them, it's very much encouraged.