Annual Report 2017–2018 | Page 38

36 Annual Report 2017 – 2018 Financials Crofton House School Foundation Financials The Crofton House School Foundation manages financial endowments and restricted funds for the ongoing support of Crofton House School. The income from the funds managed by the Foundation is distributed for the purpose of CHS bursaries, scholarships and awards. This year, the Foundation received a $3 million donation from Dr. Sherman Jen: $1 million in support of the School’s strategic Bursary Program and $2 million in support of the School’s other strategic priorities. The Foundation has received a clean audit opinion from KPMG. Revenues $3.4m Expenses $0.3m $3.0m $0.2m Donations (88.2%) Bursaries & Scholarships (66.7%) $0.4m $0.1m Investment income (11.8%) Investment management, administrative services and professional fees (33.3%) What we own $8.3m How we paid for it $8.3m $8.3m $3.6m Investments (100%) Endowment Funds (43.4%) $3.0m Restricted Funds (36.1%) $1.7m General Unrestricted Fund (20.5%) Crofton House School Foundation > > Registered charitable organization > > Board of Governors > > Independent 3rd party audited financial statements > > Investment entity Financial objective: > > To act as an investment manager of endowed and restricted funds