Ontario Chess Association Inc.

Operating Statement

For the year ended March 31

Revenue 2007 2006

Membership Fees $ 5,761 $ 5,785

Trillium Foundation Grant $55,000 $65,000

Events $23,200 $ 2,500

Other $14,000 $ 2,354

Total Revenue $97,300 $75,639

Expenses

Salaries and Wages – York Region Program $44,000 $47,000

League Rebates $ 4,000 $ 4,000

Program Costs:

Ontario $ 1,450 $ 2,850

Youth $ 1,100 $ 300

Canadian $33,505 $ 5,500

York Region $ 7,617 $ 7,586

Equipment $ 4,600 $ 3,890

Administration $ 161 $ 217

Total Expenses $96,433 $72,009

Net Surplus / (Deficit) $ 867 $ 3,630

Ontario Chess Association Inc.

Balance Sheet

As at March 31

Assets 2007 2006

Cash $ 148 $ 4,981

Accounts Receivable 1,100 -

Total Current Assets $1,248 $ 4,981

Fixed Assets $8,107 $ 3,507

Total Assets $9,355 $ 8,488

Liabilities

Accounts Payable $ 600 $ 1,600

Equity

Other Reserves $ 8,755 $ 6,888

Total Liabilities & Equity $ 9,355 $ 8,488

Ontario Chess Association Inc.

Treasurer’s Report

For the Year Ending 30 March, 2007

This year has been very busy, with most significant financial added revenues and sponsorships because of the OCA hosting the Canadian Closed Chess Championships.

Private Sponsorships increased to $14,000, and our second year of Trillium Support added $55,000. The Trillium Program was specifically for a Two Year Program with decreasing contributions as we work towards other income to continue our programs. We submitted our program specifically for only two years so we could then expand to a Five Year Province-Wide Trillium Support Program. This new program is being submitted in June for hopeful approval by 1 October 2007. However it must be clearly understood that many other provincial organizations compete for this type of Ontario Government support and there is no guarantees of this future funding.

Despite reduced membership fees being collected by the CFC on our behalf, we continued to issue League Rebates of $4,000 which recognizes the importance of our Leagues, and helps them to budget consistently. Our main provincial activity will continue to be based on the success of our corporate and government support.

The format of these accounting statements has been determined by our accountant, Marlene Sikkema, in accordance with industry practise for Non-Profit Organizations. The attached is our Draft Financial Statements, which will be subject to our Accountant’s review prior to the end of June.

Jim Ferrier

Treasurer