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2015 Finance Report & Audited Financial Statements

2015 Finance Report
& Audited Financial Statements

Dr. Michael Nickerson

CIFST’s financial position at the end of 2015 remains strong. Our net assets have provided sufficient cash flow to allow the Institute to meet its yearly financial obligations, and also has a significant amount in low risk investments. This has also allowed us to draw on these resources to continue with implementing and developing new strategic initiatives for our members.

Excess of revenues over expenditure was reduced from about $57,000 in 2014 to $15,000 in 2015. The principal reason for this decline in 2015 was that in 2014 we hosted the 2014 World Congress in Montreal which generated ~$50,000 in surplus funds.

We have a very conservative approach to our spending, keeping our expenses as low as possible for our members, while at the same time implementing new projects and programs which required new expenditures. Examples of such initiatives include:

  • We invested more in marketing, communications and networking areas in an effort to expand our visibility and membership base.
  • We are working to revamp our web site, database and association management system.
  • We have continued to support our highly acclaimed quarterly digital publication Canadian Food Insights and our very popular weekly newsbrief DIRECTIONS.

 Download 2015 Audited Financial Statements (PDF)

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        This page was last updated on 2016-06-23 2:06:22 PM