2009 Audited Statements

8/2/2019 2009 Audited Statements

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2 0 0 9 A U D IT E D F I N A N C IA L S T A T E M E N T SJanuary 1 - December 31 , 2009


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The Paradigm Shift Proj,edFiI auei 9 i J , Shl~em~nu:31 D r : !: :e r n .b~ 'rlU 09


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f bu U l1 c i: d S 'I:: :: lIt em e'W}~. 'J '31 Deeem belt 2 n l l ' 1 9

StaL!:'lnent of Fin,01m:lal POsition .~ +, , __ l.5tat~r1lerrt of p.c~iv:lt ..le:5 ilndNc:'i;; ",SSel;,s. - - - - -- - - - - - ................ - .

Sta;,!" emerrr or Ca,sb F1Q....s - - - - - - - _ ,1_ . . . .. . ' : : 1 1 :


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M i c .1 \ M . t geo"e finnoc'k.,IMICH,A,RTICR, I lD ACC:OUNTANT

39 P@, t ,e . rl in ' ann S ' 1 i :i fi e& "A l iJ l "t :I :l '< I l. .Onta'rlo L4G ' 7W 9

To the: Board of DIrectors ofThe Pa ra d i,g m Shl' ift ProjlectJ hav@ audlred the statement of Fmancial Position of The Paradigm Shift Proj,ed asatpeeember 31, 2'00'9 and the statemen s of Activtties and N , e , Assetsand cashFlows for the yearhe.n ended. Th'ese financial! statements are the res,Ponsibll1ty of theBoard of [Jiredms of The paradigm Shift i?rrljec:t. My responsibil'ity is to express, a.n0 1 ' t n 1 0 I i ' ! on these fInan c ia I sta te m e n ts b ase d Ion my a i , . M : IH :;Except ,as explained in tMe~ollow~ng paraqraph, Lconducted my , flL.U;II, t m eccordencewIth amad~an 9,eneraBy accepted ijudJtmg stemdar'ds. Those standards reqUire that Iplan and perform an audit to obtarn reasonable assurance whether the financ!a'istatements are free of rnatenal mlssratemenrs, An autBt includes exal"llining, on ill teslbasis. aVidence supporting, the amounts and dtsciosures In ll1e flnendal statements, Anaudit also Includes assessing the acc,ounting principles used and signf'flcant estimatesmade: by managernen, as. well as evahJ(ilUngkhe overall financial statementpresentatl on.In commnn with m an y n an -pro fit o rgan lzatto ns. The Paliadlgm Shift Proj@d dertvastncoms from donancns and fYndrai5fng. the corrtpleteness of whlch ls not susceptlclet o : sa f i: ls fE lc t c u y audit ver l fu : : I I : t to ' l l . Act:nrdlng~y, my v~r~ficationof m c c m e was limited tothe amounts recorded in tb~ records of The P~li'radlgm Shift ProJect and TwaS not BMeto determine whether amy adjustments might be MC$Sarv to the denattcns and'fundralsing, excess of re .venue .s over expenses and net assets.In my opinionl, axcep for I he .effec of ad ustments, i f any, whicli might have beenrequired had 1been able: to satisfy myself with respect tn the' completeness of ~ncomedescribed in he precedlnq paraqraph, these financial statements present fClklyJ in allmaterial respects, the flnancla1 pcsrnon of The' Pi : l ra ,d~gm Shifl: Projed as, at Dacernber31, 2009 and tlie results oFactlvmes arid cash flows for the y'eareflded In accordencewith Canadhm gef ' le r~By accepted (li;couIlUng prlnclples,

'Mieh a 91 G. 6" .P inn O IC I I < : , e J ! ! .CI1~ Q,r ter ,edAcc oun tallAurora, OntenoNovember 24, 201.0


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St;;rltemelilt of Adi:vi:U..sillilnd Net As~~bii.31 . December 20{ l l9

2008RIEVENI i l IE

Fuml,raisil'1g actrvities:L~.5S:DJFELt acuvitles eostN,et fundrQls~ngDonationsO~her

4~249[582) 3,120(770)3,.66.7

19!j.52Jj;24

2,3505,194

{lSi}

IEXPI : :N iSEA d rnlrustreticnAdvertlsm 9 & . Pro motionArnortlzationRank charg~s1ns Ur im r :eLlc~rlses & perrrutsOff] ce 5 L L 1 p pliesP ro fe ssi o n a I f eesProject productionSalanes

26:1.2922611502:im1301651384

1610642~OOO

2~151ue49

146:nn5041343,705

7i179336

fi,ilet Assets - Openmg lNetAs:sets - Closmg 336


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The Pa_:radjgmShlft ProjectS'[email protected]~.l l lof Cash Flows3 _ l D e ce mb er 20 0'9

to peraJJn 9E );:c ess of re ve nUe s Qve r e x pe nd 1tLl ru sCh~ng~s in not! cash woridng E.f:Iplta.1cornpcnantsA01or t i3 "1 : i t l 01 l o r G i : lp ~b f ll a s se t si\C;COU n ts rce ~~b Ie an d Prepa ,d expe nsesAccounts Datable andeccrueo liiilbl~lt:i!as

2,.76'0 3362.(;il424(2.!.717]

n o(424)3,0773,Q99

I~nvest in.glP lJ n: : :hasp- o f C ! ; j I P lta i A ' S S e t p,Hn)(l,llH)

43o

Cash and cash aqulvelents, end of ye.ar 1,998

;REPRESENTED BV,Cash E I nd cash eaurvalents1..998


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N utes l : u , the F i rsa ucla ~_Statements3 1 D ecember 20U 9

G f ~ l ' 1 l ! r r J { Sta nda rds oj F m,m 'C ra l Suuem em P resen ta no S~C'!Wfj I WO w h i c h < ' b p p l y to : b o l ' b profiL-erlented enrcrpnses am i T1I) \ f or p ro fi ts m!(arllUlllOm; ...e re A Sec lio n ] 0 e l O r III a n em .1 Statement Coru ; ep [Ol! . Ianmny 1,2009, the Organ izationadopted th e ruw.:m.: ime.nts made to Seerion WOO r h ! ; : ame:nd~dSt: : t : : lHJL1 requires. an em i l y W demonstrate that aily I;)WOllut.'i thlilll ~5 presented as all asse t IH0t;;tS theCOJ]t:~ptuill defiruncn of anasset or ls permirted W berecorded as assets uudL::tspecific CleA 'Iland~()dkSet.; .[ iOIiThe adoption of'these standard ~mj 311 ' : l t . :nW'l lUIHS ha s nOll resulted in ; :m y : c: Jmng ; ;: :~uhow Lh t :Oq~,a['li'~~onaeceuars Jo r IT " transacnons nor the r! ; . l .~Uts of irs ope ranons D r financial srarernents.T I1 e Or~.HI~i .a i i l " i [~.aDLJpl ' [ ldthese changes rdl'Q(lctivd~w itho ut rc stn tc un , III

T he lm . l l n . . i'l r . . . ltuL!menU: h av e b t: : . J : : 1 Ip~'Hlred illJit:icprdllllC~witl~ Canad ino lIem:rtL~ly ~I~pted a c c o u n t i n gprinciples for non-profit organizations, The f rutn C 1 11 I sta tem en ts reflect the fo llo win g sign ifican tI l e ,count ing policies.

Excepl tor revenue trcrn do unno ns w hseh I. ') recorded on a casb basis w ith no accru al b ein g madefl1r amounts pledged bu t not recerved, revenues find ~~p~n,(hluFeS are rer:(lrdl!d on the accrualha s I~, "" he r e b y rh e y .a~ re n~cll!d In !he ac e o u n ts iB the ve a l in w h]d I !h(;y hlJ ve b e e u earned andi n cu r red re~ptctivd:r, w he tha r o r n ~t slleh tron~actwH~ IWVt;h~t ' :n ; : i ~ ' u t r ; : d b y t h t : receipt rr rpaym en t o f IHilmer

1'lH,!O. OlnLLalWH consrdered deposes in bank , m u sl nJMtcnu iuvcsuneuts with 0! .grnalmamrttiesI , ) f QOd a V~ o r I e ss !!~ e ash an d ca sh cg u iv a 'te n ts,


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Notes f[Q~he'Fin.ullClal Sta,tetuenh., 3 , ' ~ D . . c , e m n b e r 2 U I J 9

. ..J.rhl: P .i'ladig ,m S~n l1 ! )r o je c t f0 Ilo w $th e ReSlrded Fun d Me~hod (lrace ounu nl'; f a r c o n tn b u tic n s.Resiru.tcd contr ibut ious re la Led lu g tln em . t o pe ra rio n s a re recognized as tt't:Vt':~W~ ofthe GL:H.! ! ra~Fund ill th,~ y~r in w h ic h 111t ' . ndalllil expenses ase incurred ,\1' ~I~B::(es t rktr :d ccnntl ihutions ar ere co gl1 lJ ')~ d as re ve nu e o f the : .appfo~:lIi'H~estricted fun d. Th ere


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Noeesto the finrmciaJ] S~atemmts3 1 l) ,c ,c cmb e r 2U0 9

The w ork o r the o r~ an rz~ mou b en e fn s from vo h ru te e rse rv ice s. sin ce t he s e s e rv ic e s a re nO: l11Qrma l ! y pLJrc.lH -IS 'CUythe otgaEtJ/..ntiofl au\.! because L : l f [he d j r fi o l1 l ie$ of uc tc rnnn ing their fu.i.r~'.ihll;co run bute d se rvices ! 'Ire n et reccgn l zed III th ese fin au ciu l state me nts

There arc ! 1 (1 al1m, ' : l l l cd iur\ I C C ,

2009 i .QDBrdp.t l:took

1J'i'l~lI..Ie&C.Q!!II q - l ~ t E 1 damorti?'arLOn Net ~QO~\~

C amel a 8 : video equrpment 1,35571 9911,726 371 1,355 991

The Orgamzancn's fjnil~cijlinSlUlll1(fll:) 1 ;C111Sis lo l C,lshand c as h e q uiv al en ts nnd A'CIjUht~ IP


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Nub: :S i tOU l .e fluanda] Statements31 Uecembe~lU09

The OrgaTliz.aU"n'l; ~ .Ip ual is i t s : N .;! 'lvsse ts o f $ 3,0 96 t20 08 - $J,J6); ~ L l , J d i~out : : ; u l ' _ i eC : - l ! ! d toeXle. .nul]]Y irn pe se d re qu ire m u n t T he Qr ,\ i nizAl iu n 's o b je c. liv ~ when managing " : 1 lp l~ ll ~~W g~ rB ; :r "l cs~~fficu,:;ntcash nov.'S to suppo rt an d enhance th e Orgal'li1.aliQn.~ activities,

Documents

2009 Audited Statements