The 30 anniversary of the Terry Fox Run proved to be a financial boon for the foundation named for the Port Coquitlam hero.
According to its annual audited report, released to The Tri-City News recently, the Terry Fox Foundation collected $28.7 million in the fiscal year ending March, 31, 2011.
The 2011 revenue, from domestic and international donations as well as investment income, merchandise sales, bequests, government grants and royalties was up more than $3.3 million over the previous year.
But the expenses for the 23 year old family run foundation also rose last year to $683,147 more than in 2010, with most of that going towards fundraising efforts to collect cash for the organization’s sole cause: cancer research.
The financial statements show fundraising cost $2.8 million in the last fiscal year versus $2.3 million the year before.
Of the $2.8 million, $1.6 million was paid to employees whose main job was to bring in money.
For every dollar donated, 15 per cent goes to administrating and fundraising for the Chilliwack-based foundation, a two per cent increase over the last three years.
Last month, the Canadian Cancer Society (CCS) was criticized for spending more on fundraising campaigns and administrative costs than on actual cancer research, advocacy programs and support. A CBC report showed CCS spent 40 per cent of its funds on research in 2000 but, this year, that number dropped to 22 per cent.
The Terry Fox Foundation’s financial statements indicate $32 million was distributed over the past year: $21 million to Canadian Cancer Society; $6 million to the Terry Fox Research Institute (TFRI); $1.1 million to international cancer research groups and $4.1 million to the Canadian Institutes of Health Research (CIHR).
All of that left a $9.2-million deficit.
“It doesn’t concern us that we show a deficit at the end of the year. We just want to get the money out to the groups,” said national director Brett Kohli, noting the foundation’s assets stand at around $93 million. He also said distributions are up more than $11 million over the previous year.
Set up in 2007, the TFRI focuses on cancer research projects; the foundation has committed $50 million for its programs and operations and, to date, it has provided $15 million to TFRI.
In past years, the foundation’s cash was directed to the National Cancer Institute of Canada (NCIC) but, two years ago, the NCIC amalgamated with CCS.
Since then, the Terry Fox Foundation has agreed to let CCS administer the multi year grants to NCIC until 2015. As well, CIHR now administers certain research programs for the foundation.
To date, more than $500 million has been raised worldwide for cancer research through the annual run.
Last year the local community raised a total of $13,415 for the Terry Fox Foundation.
The 31 annual Terry Fox Run will be held in Burns Lake on Sept. 18, 2011 at the Francois Lake Hall. Registration starts at 12 p.m. Walk/run starts at 1 p.m. For more information please call Carla 692-7438 or Tammy 692-6195.
Janis Warren, Tri-City News
