Annual Report 2014/15 - CESO | SACO · business partners, government officials, and the media. The...

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CESO | SACO ANNUAL REPORT 2014/15 1 Annual Report 2014/15

Transcript of Annual Report 2014/15 - CESO | SACO · business partners, government officials, and the media. The...

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CESO | SACO ANNUAL REPORT 2014/15 • 1

Une économie plus solide pour une vie meilleure.

Annual Report 2014/15

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MESSAGE FROM THE CEO & BOARD CHAIRAt CESO, we believe generating economic value is critical to sustainable poverty reduction. Now more than ever, the international development community supports the role economic development plays in these objectives. With nearly 50 years of experience operating at the intersection between trade and development, we are more confident than ever that private sector development and institutional strengthening are fundamental levers and powerful drivers of both economic and social change. Further, with every year we know we are unique in our ability to prepare both the public and private sector to embark on national and international trade platforms.

Having shed the cocoon of a period of restructuring, 2014/15 oriented around the new life brought out by the development of a new corporate mission, values and strategic plan for 2015-20. It also marked the end of the tenure of our Board Chair, Peter Chiddy, who skillfully guided the strategic renewal of CESO, positioning the organization extremely well for growth over the next five years. Through this transformation, but particularly in this last year, CESO strengthened our profile and relationships in Ottawa and across stakeholder groups, built strong corporate partnerships, refined our operations and refocused on communications, all the while producing greater, more measurable impacts in the communities where we work.

Internationally, our flagship program, funded by Foreign Affairs, Trade and Development Canada (DFATD), operated within the context of an extension year. For CESO, this one-year extension further proved the adaptability and nimble nature of our model. We generated deep impacts for our clients, our partners and our funders, surpassing our increased assignment target under budget. In a fiscally frugal development climate, we also added three new countries: Benin, Tanzania and Vietnam, demonstrating DFATD’s support of the efficacy of our model. These three pilot country programs are now part of our recently approved, significantly expanded five-year flagship volunteer cooperation program, “STRIVE”, funded through DFATD – another endorsement of the government’s trust in our approach.

Nationally, we continued to work in partnership with Aboriginal communities across Canada to support their readiness to engage in economic opportunities and to actively participate in the mainstream economy. Simultaneously, we worked closely with communities on building fundamentals, such as strong governance, leadership development, financial stewardship and health planning and management – elements critical to successfully navigating complex, systemic challenges. We gratefully acknowledge continued funding support for our national program by Aboriginal Affairs and Northern Development Canada (AANDC) and the RBC Foundation.

None of this would be possible without the excellent work of our Volunteer Advisors (VAs), who share their knowledge and expertise with clients in a collaborative advisory and mentorship approach. Last year alone they collectively gave over 6,000 days of their time to support our clients and partners in Canada and around the world. The conservative estimated value of those days equals nearly $3.1 million dollars. CESO VAs are highly-skilled, senior-level professionals from the public and private sector who have on average 25 years of experience in their given field. They are passionate about sharing the wealth of knowledge they’ve accumulated over their careers in meaningful ways. We are humbled by their dedication and commitment to CESO and to our vision of creating stronger economies and better lives in Canada and around the world.

In the pages that follow, we share just a few examples of many of our activities and impacts from the past year. We hope you will find the inspiration to see a role for yourself in helping achieve that vision.

TABLE OF CONTENTSBy the Numbers .....................................................1

Canada ................................................................2-3

Americas & Caribbean ........................................4-5

Africa ...................................................................6-7

Asia .....................................................................8-9

Learnings and Best Practices .................................10

Partnership Model ................................................10

Financials ........................................................11-13

CEO & President

Wendy Harris, CPA, CA

Board Chair

Martine Normand

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CESO | SACO ANNUAL REPORT 2014/15 • 1

$377assignments completed

5,97756%people trained & mentored

were women

of SMEs reported significant improvementsto operational procedures

of VAs provided follow up support to clients after completing an assignment (since 2009)

3,084,000of services donated by

VAs to CESO clients

Over 1,600 days donated by CESO VAs to provide follow-up support to clients and partners after completing an assignment (since 2009)

81

275unique clients and partners

of every donation dollar goes directly to CESO programming

6,167 days donated by CESO VA to complete assignments

15 average number of days spent by VAs post-assignment to follow-up with clients (since 2009)

%of clients indicated VA work as effective (since 2009)94%

1,460international assignments completed

nearly 2 new job opportunitiescreated for every VA activity

CESO’S INTERNATIONAL REACH SINCE 2009

1 2VA

717 number of active VAs on roster

1 NEW JOB created

perassignment

75%BY THE NUMBERSAll statistics used throughout the report are results from FY2014 - 15 unless otherwise stated.

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CANADAOur work with Aboriginal communities in Canada focused on developing the capacity of its leaders and members, enabling participants to determine their long-term economic development goals and to actively engage in the mainstream economy. The following three case studies are some examples of our work with Aboriginal communities.

Supporting a Robust Communications Structure in Northwest TerritoriesThe Yellowknives Dene First Nations (YKDFN) is an association comprised of two independent and distinct communities. Both communities are governed by their own Chiefs and five councillors, and their collective governance structure meets monthly to collaboratively discuss plans and resolve issues. The YKDFN sought assistance to improve the organization’s communications structure both internally among the association and across the membership, as well as with external business partners, government officials, and the media.

The CESO VA worked with the YKDFN to analyze their situation and to develop a comprehensive strategic communications plan. The VA conducted a two-day workshop with the Chiefs, Council and senior staff to present the plan and to build communications capacity. Afterwards, the VA stayed connected remotely with the YKDFN, and returned later that year to review implementation progress and to support the development of communication protocols, processes and responsibilities.

Supporting SME Growth and Operational Excellence in AlbertaWoman-led Niwihcihaw Acceptance Ltd. provides personal consumer loans to approved First Nations and agencies through the Ermineskin Cree Nation’s loan fund. The company sought support in the development of policies and other key operational activities.

CESO provided assistance in analyzing the company’s lending practices and suggested ways to improve loan collection policies and procedures. CESO VAs focused on developing and building capacity across operations, specifically in loan collection, policy development, identification of operational procedures, and risk management within the microfinance sector.

Strengthening Local Government and Advancing Economic Opportunities in Northeastern OntarioThe Mushkegowuk Tribal Council represents seven First Nations across northeastern Ontario – a heavy extractives area in the mineral-rich lower James Bay region. The Council sought to build the skills and capacity of their communities in order to assume more control and to engage effectively in the economic activities in their larger region.

Through the First Nations Partnership Program with RBC Foundation, a CESO VA assisted the Council in developing a strategic plan to strengthen regional governance and advance economic development in their region. Additionally, the CESO VA provided advisory services and training in both employment and entrepreneurship, particularly in transportation, communications, and energy supply.

Read the full stories on our website www.ceso-saco.com

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No. of beneficiariesNo. of VA daysNo. of partners/clients

57

No. of assignments completed

82

851 10,945

181(57%)No. of people trained/mentored

(% women)

Meet the Cowichan Tribes.

CESO Volunteer Advisor, Ron Grainger is helping the Cowichan Tribes bring their vision of a regional health centre to life.

www.youtube.com/watch?v=KGyiXRaDzuI

Video Link

IMPACTS IN CANADA

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AMERICAS & THE CARIBBEANOur work in the Americas and the Caribbean in the past year supported various sectors and actors. Our three main areas of focus across this region included improving transparency and accountability among governments, supporting capacity, particularly in hospitality and tourism, and facilitating export readiness of small and medium-sized enterprises (SMEs) and the agro-industry, more broadly. The following three case studies exemplify our work in these areas.

Supporting Trade between Honduras and CanadaFIDE Investment and Exports is a private non-profit organization that promotes investment, develops export operations, and works closely with the government and other private organizations to create new legislation aimed at improving the business climate in Honduras.

In light of the free trade agreement between Honduras and Canada, CESO VAs and TFO Canada consultants collaborated with FIDE Honduras to identify, qualify, and train several Honduran SMEs in skills and techniques necessary to market their agro-food and home décor products in the Canadian marketplace.

They mentored and consulted with select owners and executives on a one-to-one basis, suggesting improvements to their products, marketing and communication strategies. CESO VAs also provided training in packaging and product adaptation to Canadian consumers, particularly relating to the Canadian preferences in the market.

Building Sustainable Business Practices in ColombiaThe Ecological Park of Pionono is an ecotourism destination located in the Municipality of Sopo, Colombia.

CESO Volunteer Advisors assisted management in identifying strategies to develop and manage the park sustainably while integrating the community (particularly women) as part of the development, and ensuring the sustainable use of resources while increasing visitors to the park. The assignments also resulted in the development of policies aimed at offering equal opportunities to women and men in every aspect of the organization, particularly in management and tour guiding.

Supporting Tax and Regulatory Compliance in GuyanaThe Guyana Revenue Authority (GRA) is a national tax agency working to promote compliance with Guyana’s tax, trade and border laws, and regulations through education, quality service and responsible enforcement programs.

CESO VAs trained 150 people in audit techniques, sector analysis, and report writing, and an additional 130 individuals (half of whom were women) to plan and manage a comprehensive audit program to improve auditing processes. CESO VAs also trained staff in international taxation, risk assessment and computer auditing. As a result, the GRA significantly improved processes and reporting, as well as increased client satisfaction, and improved efficiency and productivity of staff and management.

Read the full stories on our website www.ceso-saco.com

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Visit the Surama Eco-Lodge Inc. in Guyana.

Surama Eco-Lodge Inc. is a community-based ecotourism business in rural Guyana, managed and owned by the Amerindian Makushi people. CESO VAs trained its staff in skills related to food preparation, sanitation and hospitality. Surama Eco-Lodge Inc.business continues to grow and benefit the community.

75No. of assignments

completed

117

No. of VA days

2,477No. of beneficiaries

9,723

1,298 (54%)No. of people trained/mentored

(% women)

https://youtu.be/6cpINIOdEP0

Video Link

No. of partners/clients

IMPACTS IN AMERICAS & THE CARIBBEAN

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AFRICAOur work in the African region varies from assisting small and medium-sized enterprises (SMEs), to helping develop the alternative energy sector, to strengthening the hospitality and tourism industry. However, one of CESO’s main focus areas last year was to improve the region’s agribusiness and strengthen food security. Over the year, we worked with clients and partners across the sector to help create better products and services regionally, but also to prepare them to export and trade internationally. The following case studies showcase some of our work within the broad industry of agribusiness.

From Client to Institutional Partner in SenegalThe Fédération Nationale des Boulangers du Sénégal (FNBS) is an organization of over 1,100 member bakeries in Senegal – a net food importing country. The Association employs nearly 19,000 people and impacts an additional 40,000 people more broadly. It promotes baking as a profession and encourages the consumption of locally produced baked goods.

Over 2014/15, CESO Volunteer Advisors continued to work with FNBS to build capacity within the association to organize, grow and better represent the interests of independent bakers in Senegal. As a result, the relationship between CESO and FNBS transitioned into a formal partnership under our flagship program, STRIVE. Through STRIVE, CESO will continue to provide mentorship support to the association and its individual members.

Agro Export Readiness in West AfricaSince 2013, CESO Volunteer Advisors have trained agribusiness SMEs, particularly in West Africa (Burkina Faso), to improve the quality of product and meet regional and international export standards. VAs also supported the improvement of packaging and labelling, as well as marketing promotion favouring the consumption of local products.

Those specific supports to individual members led to the establishment of AAFEX as a CESO regional partner. The launch of this partnership took place in Benin (January 2015) around a three-day practice-sharing workshop that included AAFEX regional representatives as well as representatives from national chapters of three of CESO program countries (Benin, Senegal and Burkina Faso). Overall, participants embraced the CESO partnership model as the optimal framework to position the organization in this sector and to enhance the skills of its members. Through ongoing collaboration with AAFEX over the following five years, CESO will continue to strengthen its governance as a regional institution, simultaneously supporting its national chapters and individual agribusiness SMEs across Africa to ensure exceptional standards and export readiness.

Strengthening Apiculture Practices in TanzaniaBeekeeping is recognized globally as one of the most important forms of agriculture; roughly one third of seed yield from agricultural food crops results from insect or bee pollination. Farmers also frequently see dramatic increases in the quality and size of their fruits, vegetables or grains. The combination of these impacts makes apiculture vital to food security while also offering farmers a secondary stream of supplemental income through sales of derived products.

Beekeeping Development Tanzania Ltd. (BDTL) is a honey-producing enterprise looking to become an industry leader in Tanzania. BDTL also aims to increase its competitiveness in East Africa and internationally.

CESO Volunteer Advisors provided both practical and theoretical training to BDTL on topics such as queen bee rearing and pest management. The VAs also supported BDTL to develop a quality specification booklet and derived products, such as soap and lip balm.

Read the full stories on our website www.ceso-saco.com

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Video Link

Meet Madame Diallo Aminata Sow, Senegalese Entrepreneur.

Aminata wants to grow her business and export internationally. To do so, she’ll have to increase production and meet international quality standards. CESO Volunteers share knowledge and expertise to help business owners like Aminata develop and grow their business.

No. of partners/clients

57

No. of assignments completed

83

1,737 (62%)No. of people trained/ mentored (% women)

No. of VA days

1,433

No. of beneficiaries

10,419

https://youtu.be/Z0a4BWimsDw

IMPACTS INAFRICA

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ASIAOur work in Asia over the last year focused on strengthening micro, small and medium-sized enterprises (SMEs) and on working at the government and institutional levels to create an enabling environment for private sector growth. The following case studies showcase just a few examples of the breadth of our work in this region.

Building Strong Partnerships in Kazakhstan (CESO-DAMU)In 2013, CESO signed an agreement with the Entrepreneur Development Fund (DAMU) to support the Senior Experts Component of the Kazakhstan government’s four-pronged Business Roadmap 2020 initiative, intended to stimulate private sector growth. Through the CESO-DAMU partnership, CESO experts worked closely with DAMU regional offices to assist local entrepreneurs. Since the launch of the program in 2013, CESO’s experts successfully completed 62 assignments through the partnership (32 in 2014-15), providing training and technical assistance to Kazakh entrepreneurs throughout the country.

As a result of CESO’s support, entrepreneurs from a broad range of industries and businesses enhanced their productivity, aligned their product quality with international standards, promoted business linkages, and improved their marketing and export capacity.

Facilitating Regional Collaboration and Partnership between Vietnam and the PhilippinesBeekeeping is not only vital to food security, but provides two channels by which farmers can increase and stabilize their income. First, through supplementary income from the development and sale of honey or bee-related products; second, from improved quality and size of crop yields due to natural pollination and fertilization by the bees. The natural pollination also frees farmers from their reliance on chemical fertilizers, strengthening their revenue streams while also providing environmental benefits.

South-South collaborations enable CESO partners to share best practices and to help establish business relationships between countries, such as the Philippines and Vietnam. A long-time institutional partner, CESO supports National Apiculture Research and Development and Training Institute (NARTDI) members to deliver training programs in different aspects of apiculture, from pollination and beekeeping techniques and best practices, to increasing year-round production in the Philippines.

Through CESO, a representative of NARDTI in the Philippines visited Vietnam to share knowledge and expertise regarding pollination best practices through a series of workshops and training sessions. The assignment successfully trained 36 participants, which included members from Daklak Beekeepers’ Association (DBA) and staff of the Department of Agriculture and Rural Development of Daklak (DARD).

eGovernance as a Means to Streamline and Strengthen Government Transparency in the PhilippinesFor over six years, CESO Volunteer Advisors have worked in cross-collaboration with the League of Municipalities of the Philippines (LMP), the League of Cities, and eGov4MD Inc. to develop and initiate an Electronic Business Permit Licensing System (eBPLS) in 120 municipalities across the country. The development of the electronic systems followed a systematic, sequential and long-term approach, but continues to yield significant benefits. The benefits range from increases in tax revenue across all municipalities (one municipality saw a 150 per cent increase), reduction of government corruption, increased productivity and efficiencies, expansion of the tax base, as well as enhanced citizen satisfaction.

Over the duration of the project, more than 650 municipal department leaders and staff (45 per cent women) have been trained on relevant technologies and project management. Over the course of 2014-15, CESO VAs completed 16 assignments to train approximately 96 municipal IT personnel (42 per cent of them women) in system networking, data security and server management. CESO’s significant contribution nationally continues to improve service to businesses and greater transparency of transactions, dramatically reducing corruption across the country.

Read the full stories on our website www.ceso-saco.com

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Improving Water Sanitation in a small Filipino municipality.

As part of a larger effort to formulate a municipal development plan, the municipality of Sampaloc asked CESO for advice on managing and improving their water supply system. CESO Volunteer Advisors helped the municipality improve their water system to better serve its citizens.

https://youtu.be/cbfRyER2HCI

Video Link

No. of partners/clients

86No. of assignments

completed

94

No. of VA days

1,406No. of beneficiaries

14,653

2,761(54%)No. of people trained/mentored

(% women)

IMPACTS IN ASIA

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2014-15 Board of DirectorsWe gratefully acknowledge the leadership, commitment and support of our esteemed Board of Directors:

Peter Chiddy, ChairMartine Normand, Vice ChairMeredith (Sam) HayesWendy EvansYves GauthierEwan (Nick) HareHarry HobbsPaul LavelleRobert B. NobleGlenn NolanDanièle AyotteScott WetmoreLee Anne CameronAnthony Pagano

Evolving outcomes: Full implementation of CESO’s partnership model led to results beyond those anticipated and prompted an overhaul of our Monitoring, Learning and Evaluations framework to capture new outcomes.

Greater reach: This model enabled more linkages and networking locally, and by the end of the cycle, led to engagement of regional partners and enhanced knowledge-sharing.

Partner selection criteria: To increase reach and scope, we refined our partner criteria to focus more on the partner’s reach and status within the sector, as well as their ability to commit resources to supporting CESO activities.

Improved stakeholder participation: Securing a commitment from a senior representative at the partner institution, while also identifying and engaging key points of contact, both among the partner staff and with influential clients or members of their network, helps drive partnership activities amid fluid circumstances.

Linking monitoring to capacity: Thirty-five per cent of clients from the beginning of the last programming cycle saw results materialize in the second or third year following their CESO assignment, which falls outside of CESO’s typical reporting cycle. By assessing client capacity more accurately, we can better tailor our monitoring efforts to capture the full impact of our VAs.

Potential of the Partnership Model

Partnership Management

Assessment of Client Capacity

Over the 2014-15 year, CESO placed a major emphasis on assessing our overall performance over the last programming cycle and setting the stage for continuous improvement under CESO’s new international project, STRIVE (2015-20).

After examining results and data from almost 50 local multi-year partnerships and activities with almost 900 clients among 15 countries, we identified several key learnings and best practices:

Learnings & Best Practices

THE PARTNERSHIP MODELCESO bases its approach to development on the value of building and strengthening the knowledge and skills of local or regional partners, expanding scope and impact through both direct and indirect work with the partner’s clients, members or stakeholders. CESO’s Partnership Model is based on a participatory, bottom-up approach to defining needs and designing interventions and assignments based on a long-term partnership of three to five years. CESO’s partnership model has evolved to provide targeted assistance on two levels:

Level 1: Assignments directly with the regional partner for institutional strengthening or governance, with the goal of long-term sustainability and to improve services to members, clients or constituents.

Level 2: Assignments with individual members or stakeholders with the objective of building the capacity of the client to achieve their own objectives.

Level 1 & 2 Combined: Assignments delivered to the partner and one or more of its members or stakeholders, typically with a shared or common objective of building skills or knowledge in the same area.

Level #1 – CESO Partner

Level #2 – CESO Client & VA

Level 1 & 2 Combined – CESO Partner, Client & VA

PARTNER

MEMBERS CLIENTSSTAKE- HOLDERS

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CESO | SACO ANNUAL REPORT 2014/15 • 11

Discussion of Financial ResultsThe financial statements for the year ended March 31, 2015 show consistent, balanced results with $11,133 revenues in excess of expenses compared to prior year’s $32,261. Total revenues in 2015 were $8.0 million – slightly lower than the prior year’s $8.1 million. Programming revenue decreased by $209,745 or 5 per cent due to the completion of our DFATD-funded consortium project with TFO Canada, and a small reduction in funding from AANDC for our national flagship program. The decreases were partially offset by a major donation from the RBC Foundation in support of our national programs. During the year, we incurred $8.0 million in total expenses, compared to $8.1 million in the prior year. Overall, percentage allocation of expenses remains consistent. Corporate expenses decreased slightly by $46,202 or 16 per cent, mainly due to non-recurring fundraising expenses incurred in the prior year. Included as both revenues and expenses are 6,167 days of time and talent donated by CESO VAs, valued at $500 per day, amounting to a total in-kind contribution of $3.1 million.

The ongoing hard work and dedication of our volunteers and staff has laid the groundwork for CESO’s long-term growth as an organization. Near the end of the 2014-2015 year, we learned DFATD approved a $22 million contribution for our new flagship international program, enabling significantly increased activities in 16 countries around the world. For fiscal 2016, and as a part of renewing CESO’s five-year strategic plan, we commit to continuous improvement in excellent service to all our stakeholders as we grow and strive forward.

Michelle Ng Director of Finance

Report Of The Independent Auditor on the Summary Financial Statements To the Members of Canadian Executive Service Organization

The accompanying summary financial statements, which comprise the summary statement of financial position as at March 31, 2015, the summary statement of operations, the summary statement of changes in net assets for the year then ended, and the related notes, are derived from the audited financial statements of Canadian Executive Service Organization (the “Organization”) for the year ended March 31, 2015. We expressed an unmodified audit opinion on those financial statements in our report dated June 19, 2015.

The summary financial statements do not contain all the disclosures required by Canadian accounting standards for not-for-profit-organizations. Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of the Organization.

Management’s Responsibility for the Summary Financial StatementsManagement is responsible for the preparation of a summary of the audited financial statements on the basis described in the notes to the summary financial statements.

Auditor’s ResponsibilityOur responsibility is to express an opinion on the summary financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standards (“CAS”) 810, “Engagements to Report on Summary Financial Statements.”

OpinionIn our opinion, the summary financial statements derived from the audited financial statements of Canadian Executive Service Organization for the year ended March 31, 2015 are a fair summary of those financial statements, on the basis described in the notes to the summary financial statements.

Chartered Professional Accountants, Chartered Accountants Licensed Public Accountants June 19, 2015

FINANCIALS

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12 • CESO | SACO ANNUAL REPORT 2014/15

Summary statement of financial position as at March 31, 20152015 2014

$ $

AssetsCurrent Assets

Cash and cash equivalents 290,087 758,291Operating advances to representatives 7,924 50,297Accounts receivable 158,486 258,012Prepaid expenses 61,872 68,438

518,369 1,135,038

Long-term investments - designated 1,262,978 1,264,427

Capital assets 96,354 100,367

Total assets 1,877,701 2,499,832

LiabilitiesCurrent liabilities

Accounts payable and accrued liabilities 241,657 273,066Deferred revenue 559,404 1,113,728Loan payable to landlord - current portion 4,129 47,531

805,190 1,434,325

Long-term liabilityLoan payable to landlord - 4,129

Total liabilities 805,190 1,438,454

Net assetsUnrestricted 1,072,511 1,061,378

Total liabilities and net assets 1,877,701 2,499,832

Approved by the Board

Director

Director

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1. Summary financial statementsThe Organization has prepared these summary financial statements to be included as part of its annual report. These summary financial statements present the same information as the audited financial statements, except for the statement of cash flows and the notes to the audited financial statements. Complete audited financial statements are available upon request.

2. Subsequent eventThe Organization signed a five year agreement on April 17, 2015 with the Department of Foreign Affairs, Trade and Development (“DFATD”) to implement a project to improve the social and economic well-being of communities in 16 developing countries. Under the terms of the agreement, and based on the agreed-upon cost-sharing provisions, DFATD will make a contribution to the Organization of up to $22 million for direct Eligible Costs, plus any applicable allowance for indirect/overhead costs.

Summary statement of operations year ended March 31, 20152015 2014

$ % $ %

RevenueProgramming revenue 3,752,030 47 3,961,775 49Private sector, clients and other 728,206 10 705,243 9Donations 193,793 2 100,703 1Value of volunteer services at assignment sites and subsistence paid by clients 3,295,762 41 3,365,587 41

7,969,791 100 8,133,308 100

ExpensesSalary and fees 1,890,663 24 1,884,704 23Assignments costs 2,525,250 32 2,557,571 32Corporate expenses 246,983 3 293,185 4

Value of volunteer services at assignment sites and subsistence paid by clients 3,295,762 41 3,365,587 41

7,958,658 100 8,101,047 100

Excess of revenue over expenses 11,133 32,261

Summary statement of changes in net assets year ended March 31, 20152015 2014

$ $

Net assets, beginning of year 1,061,378 1,029,117Excess of revenue over expenses 11,133 32,261

Net assets, end of year 1,072,511 1,061,378

Notes to the Summary Financial Statements March 31, 2015

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Une économie plus solide pour une vie meilleure.

Charitable # 1183 0850 RR 0001

FSC - need dimensions

CESO gratefully acknowledges financial support from Foreign Affairs, Trade and Development Canada; and Aboriginal Affairs and Northern Development Canada.

TORONTO700 Bay Street,

8th Floor. Box 800

Toronto, ON M5G 1Z6

MONTREAL1001 Sherbrooke East,

Suite 500

Montreal, QC H2L 1L3

1 800 268 9052

[email protected]

Become a Volunteer AdvisorYou have the power to directly impact the lives of others as a CESO Volunteer Advisor.

Through the excellent work of our Volunteer Advisors, we strengthen economies and build better lives in Canada and around the world. Our Volunteer Advisors are highly skilled and experienced professionals from across sectors and industries. They find professional challenge and personal value by sharing the wealth of knowledge and experience they’ve accumulated over their careers with our clients and partners. Their impacts ripple out in meaningful and lasting ways.

Your skills and experience will make a difference. Find out how to become a Volunteer Advisor: ceso-saco.com/volunteer

Donate to CESODid you know that more than 85 per cent of every dollar donated to CESO goes directly to our international or national programs? And, for every dollar of value donated (to our international program), the Foreign Affairs, Trade and Development Canada (DFATD) contributes three dollars to our volunteer cooperation program.

Whether you choose to make a monthly donation, a one-time contribution, or an estate bequest, your gift will help build stronger economies and better lives.

To donate to CESO: ceso-saco.com/donate