Salmon Steward is the official publication of the Pacific Salmon Foundation in British Columbia, Canada
Issue link: http://digital.canadawide.com/i/1379981
18 spring 2021 psf.ca Unaudited financials. Audited Financial Statements available upon request. 2020 FINANCIALS NOTES REVENUE GOVERNMENT Since 2012, 100 per cent of proceeds generated through sales of the Salmon Conservation Stamp have been directed to PSF by the federal government in support of the Community Salmon Program. From 1989 through 2020, in combina- tion with part proceeds from the Commercial Fisheries Conservation Stamp, $22.5 million in revenue has been directed to 2,747 projects with a total value of $158.3 million once community funds and in-kind donations were included. RESTRICTED CONTRIBUTIONS Includes the Pacific Salmon Endowment Fund Society, which contributes to the core operations of the Pacific Salmon Foundation, enabling 90 per cent of donations to projects to be applied di- rectly to salmon initiatives. The Society is also a major contributor to the Pacific Salmon Explorer, the International Gulf of Alaska Expedition, Chinook recovery efforts in the Yukon and other PSF activities. Other organizations and non-profit partners in this category that support specific projects include: RBC Foundation and Sitka Founda- tion for initiatives through PSF's Marine Science Program; Duncanby Lodge, Ocean Trailer and Haywood Securities for the PSF-managed Percy Walkus Hatchery/Rivers Inlet Salmon Recovery Program ( percywalkushatchery.org); Neptune Terminals, Seaspan and Mosaic For- est Management for the Community Salmon Program; and finally, Trans Mountain and the Vancouver Foundation for supporting a variety of the projects listed above. UNRESTRICTED CONTRIBUTIONS This category includes fundraising and events for unrestricted use toward PSF programs. It under- reports actual donations because the Foundation uses deferred contribution accounting, which only records revenues once expenses have been incurred. In some cases, donations are received late in the year and are not utilized until the next fiscal year. OTHER This revenue is derived from billable staff time and management fees related to specific activities. This category also includes interest, miscellaneous revenues and other administrative fees. EXPENSE CONSERVATION, EDUCATION & MANAGEMENT SERVICES Includes personnel and other costs associated with major project management, stakeholder relations and communications with governments. OVERHEAD Includes facility and infrastructure costs, as well as personnel and other costs associated with general administration. REVENUE $ % Government 4,555,083 46.0 Restricted Contributions (Non-Government) 2,839,541 28.7 Unrestricted Contributions (Non-Government) 2,043,572 20.6 Other 458,405 4.7 TOTAL 9,896,601 100 EXPENSE $ % Project Grants & Awards 7,944,546 80.6 Overhead 668,798 6.8 Development, Marketing, Communications & Outreach 661,078 6.7 Conservation, Education & Management Services 587,200 5.9 TOTAL 9,861,622 100 2020 Revenue 4 % OTHER UNRESTRICTED CONTRIBUTIONS 21 % RESTRICTED CONTRIBUTIONS 29 % GOVERNMENT 46 % Project Grants & Awards SALMON WATERSHEDS PROGRAM MARINE SCIENCE PROGRAM RIVERS INLET SALMON RECOVERY PROGRAM 30 % COMMUNITY SALMON PROGRAM GULF OF ALASKA EXPEDITION 12 % OTHER 11 % 16 % 22 % 9 % 2020 Expense CONSERVATION, EDUCATION & MANAGEMENT SERVICES OVERHEAD DEVELOPMENT, MARKETING, COMMUNICATIONS & OUTREACH PROJECT GRANTS & AWARDS 80 % 6 % 7 % 7 % PROJECT GRANTS & AWARDS $ % Marine Science Program 2,353,129 29.6 Community Salmon Program 1,765,444 22.2 Salmon Watersheds Program 1,246,828 15.7 Gulf of Alaska Expedition 946,084 11.9 Other 911,658 11.5 Rivers Inlet Salmon Recovery Program 721,403 9.1 TOTAL 7,944,546 100