Canadian Hemophilia Society Meeting the challenge

Canadian Hemophilia SocietyMeeting the challenge2011 annual report

NATIONAL OFFICE400-1255 University StreetMontreal, Quebec H3B 3B6Tel.: 514-848-0503Toll-free: 1-800-668-2686Fax: 514-848-9661E-mail: chs@hemophilia.caPROVINCIAL OFFICESMANITOBA CHAPTER944 Portage AvenueWinnipeg, Manitoba R3G 0R1Tel.: 204-775-8625Toll-free: 1-866-775-8625E-mail: chsmb@hemophilia.mb.caNATIONAL STAFFDavid PageNational Executive DirectorJoyce ArgallNatonal Individual Giving ManagerHélène BourgaizeNational Director of Chapter Relations andHuman ResourcesClare CecchiniNational Program ManagerDeborah Franz CurrieNational Director of Resource DevelopmentCanadian Hemophilia SocietyHEMOPHILIA ONTARIO501-65 Wellesley Street EToronto, Ontario M4Y 1G7Tel.: 416-972-0641Toll-free: 1-888-838-8846Fax: 416-972-0307E-mail: hemont@hemophilia.on.caQUEBEC CHAPTER1102-2120 Sherbrooke St. E.Montreal, Quebec H2K 1C3Tel.: 514-848-0666Toll-free: 1-877-870-0666Fax: 514-904-2253E-mail: info@schq.orgStéphane LemieuxChief AccountantRachel LeslieNational Executive AssistantMichel LongNational Program ManagerChantal RaymondNational Communications Manager2To contact our 7 other provincial chapters, visit us at www.hemophilia.ca.

our missionThe Canadian HemophiliaSociety is committed toimprove the health and qualityof life of all people withinherited bleeding disordersand ultimately to find a cure.our visionA world free from the painand suffering of inheritedbleeding disorders.2011 Annual Report3

Craig UpshawPresidentDavid PageNational Executive DirectorNew challenges… new opportunitiesCanadian Hemophilia SocietyTHIS ANNUAL REPORT focuses on the Canadian Hemophilia Society’s achievements in 2011, the first yearof our five-year strategic plan… and they are considerable. A top-notch medical and scientific meeting inCalgary. An ever-more active research program with record levels of support to Canadian researchers. Highqualityeducation programs for people with bleeding disorders. Strong support for the health care providers inCanada’s 25 comprehensive care clinics. At the same time, we have worked to maintain access to an optimal supply ofclotting factor concentrates at no cost to the end user.However, we must already look to the future where there are new challenges and, hopefully, newopportunities.Since the introduction of factor concentrates in the late 1960s, we have seen some important changes,including major advances in safety, but none of these changes significantly altered how well the productsworked. This is about to change. In the not-so-distant future, perhaps in 2014, the first longer half-life products willbe approved for use. For some, this could mean a reduction in the frequency of treatments required for prophylaxis.For others, these products could mean higher “trough” levels and better protection against bleeds (a trough is thelowest factor level between doses of prophylaxis). And there has even been a breakthrough in gene therapy, bringingthe hope of a cure. Indeed, these changes point to an exciting future, but there are also storm clouds on the horizon.For the last 25 years, the CHS has successfully advocated for physician/patient choice and access to the mostadvanced treatment products. Doing so will be even more critical when the next generation of products hits themarket. With the current health funding challenges, we are already hearing questions around the cost of factorconcentrates, monitoring of product utilization and the merit (or lack of merit) of prophylaxis care for adults. We areseeing the emergence of evidence-based medicine and the need to show positive outcomes to justify all the dollarsinvested. The importance of documenting utilization of expensive factor concentrates has never been greater.Documenting product use with modern tools and linking it to health outcomes will be crucial to maintaining ouraccess to an optimal supply of the safest, most efficacious products.4

More than ever, our national organization needs to stay abreast of safety and supply issues. Ourchapters must be informed, proactive and able to advocate on behalf of people with bleeding disorders andour bleeding disorder treatment centres. Access to the most advanced therapies at no cost to the end user,delivered by well-resourced clinics, will be the key advocacy focus for the CHS in coming years.Another challenge is under-diagnosis. There may be 30,000 Canadians with symptoms of bleeding disordersserious enough to require specialized care, yet only 8,500 are registered in Canada’s comprehensive carecentres. In 2011, the CHS developed its CODErouge program to reach out to women with bleeding disorders.The program was officially launched in May 2012. Over the next three years, the CHS will be working closelywith the Association of Hemophilia Clinic Directors of Canada and the Society of Obstetricians andGynaecologists of Canada to raise awareness about bleeding disorders in women, and to improve diagnosisand care.There are challenges within the CHS as well. We are re-defining our membership categories to include ourpartners in the clinics. We are working more closely with staff in those clinics to make sure that all people withbleeding disorders know of, and can have access to, CHS programs and services. We are reviewing our by-lawsin light of the recently adopted Canada Not-for-profit Corporations Act (CNCA). In 2012, in an effort to domore with less, the Board of Directors has decided to discontinue most face-to-face committee meetings andone of its two annual board meetings. We are required to work smarter, adopt communication tools such aswebinars and increase the frequency of teleconferences. In addition to these changes, the CHS will also bemaking a decision to restructure the national board, reducing its size almost in half from its current 25directors. The goal of the restructuring is not only to reduce expenses but also to enhance directoraccountability, and increase collaboration and board effectiveness.Challenges can be barriers to progress but they can also be opportunities to innovate and grow.We are optimistic for the future of the organization and our collective ability to advocate for optimalcare and treatment.2011 Annual Report5

Important to know… One in 100 Canadians, men and women,carry an inherited bleeding disorder gene,and more than 35,000 of them havesymptoms severe enough to requiremedical care. Yet many have not beenproperly diagnosed! There are no cures for inherited bleedingdisorders. They are lifelong conditions. Effective treatment is available for thosediagnosed. Left untreated, however,bleeding disorders are life-threatening. Blood products, their recombinantsubstitutes and other drugs are effectivein treating people with bleeding disorders,but they are not a cure! The Canadian Hemophilia Society isactive in ensuring the safety of the bloodsupply in Canada through constantvigilance and monitoring for allCanadians.2011 Annual Report7

Working to meet the challengeThe CHS is committed to offering quality services to individualswith inherited bleeding disorders.THESE SERVICES could not grow, much less exist, without the incredible support of ourpartners. From the teams of health care professionals at the comprehensive care clinics, toour generous partners in the pharmaceutical industry, our corporate and individual donors,and our invaluable volunteers-all are responsible for the success of our programs and services.With their support, the CHS is able, year after year, to achieve its goals in the following fields: Care and treatment Support and education Awareness Research Safe and secure supplyCanadian Hemophilia Society8

Care and treatmentCARE AND TREATMENT for people with inherited bleeding disorders requires theexpertise of a multidisciplinary team of health care professionals: physicians, nurses,physiotherapists, social workers and a range of other specialists such as psychologistsand gynaecologists. For decades now, the CHS has worked tirelessly to build anetwork of treatment centres for bleeding disorders serving people in every province.In 2011, to maintain standards of care across the countryand to make constant progress in CARE and TREATMENT:▪▪▪We hosted a successful Rendez-vous 2011 – New Challenges, our biennial medicaland scientific symposium which included key sessions on rare inherited bleedingdisorders, mild hemophilia and ageing.We supported annual meetings of the physiotherapists, nurses and social workersassociated with the 25 hemophilia treatment centres across Canada.We continued to promote the CHS Transition Toolkit and supported chapters andclinics holding transition orientation events to facilitate a more harmonious shiftfrom guardian-directed care to more autonomous adult care for young peopleand their families.‘‘One of the highlights of Rendez-vous 2011 -New Challenges was the panel discussion wherefamilies and individuals related personalexperiences and shared their stories. With alleyes on the panel, wiping away silent tears, weall realized why we work so hard at this job andwalked away with more skills to confront thenew challenges.– A nurse in hemophilia careDuring the afternoon focus group on ageingwith hemophilia/bleeding disorders held duringRendez-vous 2011, I had the pleasure andhonour to share in facilitating the session. Twoor three passing phrases from participants seemfitting conclusions to this brief discussion andset the stage for the challenges of the next25 years. Several voiced with convictionswrought from years of personal experience,“We are the survivors of what is past! We arethe pioneers of where we came from and wherewe’re going! We are strong in confidence earnedfrom what we have overcome. We are committedto meeting the challenges of ageing that liebefore us.”– John R. (Jack) McDonald, Ph.D.’’CHS Honorary Life Member, Calgary2011 Annual ReportA C H I E V E O P T I M A L C O M P R E H E N S I V E C A R E F O R A L L P E O P L E W I T HI N H E R I T E D B L E E D I N G D I S O R D E R S .9

Support and educationThe quality of work of the CHS is best represented throughits exceptional publications and life-changing workshops.THE CHS IS VERY PROUD of and has often been recognized internationally for the high-quality, upto-date,easy-to-understand educational material it has produced as well as the powerful meetingsit has organized that bring together people with bleeding disorders, their families and health careprofessionals.In 2011, the CHS again impressed with its work in EDUCATIONand SUPPORT:Canadian Hemophilia SocietyHem philiaMarch 2011Vol 46 No 1CanadianTodayHemophiliaSocietyServing theBleeding DisordersCommunitywww.hemophilia.ca Hem philiaTodayRARE inherited bleeding disordersMILD hemophiliaAugust 2011Vol 46 No 2CanadianHemophiliaSocietyServing theBleeding DisorderCommunitywww.hemophilia.caAGINGLearning and Sharing in Calgaryat Rendez-vous 2011Hem philiaTodayThe newCHSprogramfor womenwithinheritedbleedingdisorderswww.coderougewomen.caNovember 2011Vol 46 No 3CanadianHemophiliaSocietyServing theBleeding DisorderCommunityHemophilia Today November 2011 | 1“We always enjoy reading Hemophilia Today. You are doing some great work in Canada!”– The Hemostasis and Thrombosis Center at Children’s Hospital Los Angeles10P R O V I D E E F F E C T I V E D E L I V E R Y O F I N F O R M A T I O N A N D S U P P O R T T O P A T I E N T SA N D T H E I R F A M I L I E S A C R O S S C A N A D A I N B O T H E N G L I S H A N D F R E N C H.

▪▪▪▪▪To keep the bleeding disorder community informed, we distributed three issues of our highly informative newsmagazineHemophilia Today.To increase knowledge, networking and peer support among people who suffer from rareinherited bleeding disorders, two Rare Bleeding Disorders Through the Lifespan regionalworkshops were held.To increase the understanding about the impact of ageing on people affected by aninherited bleeding disorder, the topic of ageing was addressed at Rendez-vous 2011 duringthe CHS Medical and Scientific Symposium and through a focus group. Also, a new columnon ageing, The Sage Page, now appears in Hemophilia Today and a Partners in Care cardwas developed for use with other specialists such as dentists and general practitioners.To enable parents to increase their skills and knowledge regarding raising a child with a bleeding disorder, two regionalParents Empowering Parents (PEP) workshops were delivered across Canada.To increase awareness and knowledge among women and health care providers about symptoms, diagnosis andtreatment of bleeding disorders such as von Willebrand disease, we developed a targeted outreach program entitledCODErouge | WHEN WOMEN BLEED TOO MUCH.2011 Annual Report11

AwarenessProper care following an accuratediagnosis is certainly one of theCHS' most important goals.TO ACHIEVE OPTIMAL COMPREHENSIVE CARE for all people withinherited bleeding disorders, awareness initiatives need to beundertaken at two levels: the health care providers who may comeinto contact with people with inherited bleeding disorders, and thegeneral population.In 2011, the CHS has worked hardto increase awareness:▪In April, World Hemophilia Day was the perfect occasion toraise public awareness. Activities were held across the countryto reach out and educate people potentially suffering from ableeding disorder.Canadian Hemophilia Society▪▪The new CHS awareness program, CODErouge | WHEN WOMEN BLEED TOO MUCHwas developed to increase awareness and knowledge among women andhealth care providers about symptoms, diagnosis and treatment of bleedingdisorders such as von Willebrand disease.To increase awareness and knowledge among family physicians and gynaecologists about symptoms, diagnosisand treatment of von Willebrand disease (VWD), we participated as exhibitors at the Primary Care Conference inToronto and the Family Medicine Forum in Montreal targeting approximately 4,000 family physicians.12R A I S E A W A R E N E S S A M O N G P E O P L E W I T H I N H E R I T E D B L E E D I N G D I S O R D E R S,T H E I R I M M E D I A T E C O M M U N I T I E S A N D H E A L T H C A R E P R O V I D E R S.

ResearchCHILDREN WITH HEMOPHILIA rely on research toimprove their quality of life. It is also true for womensuffering from heavy menstrual bleeding due to aninherited bleeding disorder and for men withhemophilia facing new challenges brought on byageing. They can all count on the relentless work ofresearchers to reach new heights in treatment as well asto gain a better understanding of all inherited bleedingdisorders.▪▪The CHS provides clinical and research fellowships andfunds to leading Canadian researchers working in thefield of bleeding disorders.Over the past20 years, thanksto the HemophiliaResearch Million DollarClub endowment,generous individualdonors, committedcorporate sponsors andCHS chapters and regions across the country, the CHShas invested more than four million dollars in research inCanada.RESEARCH means HOPE for thoseaffected by an inherited bleeding disorder.This is why in 2011, the CHS funded six research projectsthrough three different research programs:▪▪▪The CHS Dream of a Cure Research ProgramThe Care Until Cure Research Program in collaborationwith PfizerThe CSL Behring – Canadian Hemophilia Society (CHS)– Association of Hemophilia Clinic Directors of Canada(AHCDC) Hemostasis Fellowship ProgramDetailed descriptions of the funded research projects are available atwww.hemophilia.ca/en/research.2011 Annual ReportPROMOTE AND FUND RESEARCH TO IMPROVE TREATMENT AND ULTIMATELY TO FIND A CURE.13

Safe and secure blood supplyTHE CHS IS THE LEADING patient organization in Canada toindependently monitor the safety and supply of blood and bloodproducts within the Canadian blood system. To help ensureall Canadians have access to safe blood products in adequate supply,CHS representatives participate actively and continue to be a strongvoice on Health Canada, Canadian Blood Services, Héma-Québec andprovincial government blood advisory committees.Commemorationof theTainted BloodTragedyIn 2007, the CHS launched a program to commemorate the tainted blood tragedy... lest we forget. As part of this initiative,commemorative Trees of Life have been planted each year since then.In 2011, the CHS continued to build its forest of commemorative trees across the country…Canadian Hemophilia Society▪ To remember and pay tribute to those whosuffered and lost their lives as a result of thetainted blood tragedy and to emphasize theimportance of maintaining a safe and secureblood supply, members of the Toronto andCentral Ontario Region volunteered to planttrees at a public planting in Heathercrest. Aprivate ceremony followed with a movingspeech by Antonia “Smudge” Swann, widowof James Kreppner, a victim of this terribletragedy. The trees planted at the park were asymbol of the strength and resilience of theinherited bleeding disorder community.The occasion allowed for reflection and amoment of inner peace while bringingtogether long-time members for a chance toreconnect.▪To contribute to a safe blood system for all Canadians, we continued our vigilance asthe “watchdog” of the blood system and published the 2008-2010 Report Card onCanada’s Blood System. This is the fifth report card to be released since the reform ofthe blood system in 1998 following the Krever Commission. For the complete report,please visit our Web site at www.hemophilia.ca/en/safe--secure-blood-supply.2008-2010REPORT CARDONCANADA’SBLOOD SYSTEMPREPARED BY THEBlood PREPARED Safety BY THE and Supply CommitteeOF THE Blood Safety and Supply CommitteeCanadian OF THE Hemophilia SocietyCanadian Hemophilia SocietyJANUARY 27, 2011JANUARY 27, 201114A D V O C A T E F O R A C C E S S T O A S E C U R E S U P P LY O F T H E S A F E S T A N D M O S TE F F I C A C I O U S T H E R A P I E S F O R T R E A T M E N T O N I N H E R I T E D B L E E D I N G D I S O R D E R S.

YouthFOR THE LAST FIVE YEARS,the CHS has workeddiligently to train itsfuture leaders throughits dynamic NationalYouth Committee.Members of thiscommittee, composed ofrepresentatives from eachregion of Canada, areresponsible for reachingout and engaging theirpeers to join andparticipate in theircommunities andultimately ensure thesustainability of theorganization.In 2011,▪To provide young adults the opportunity to increase their knowledge about bleeding disorders andtake greater control of their own bleeds, as well as learn to be the safest drivers possible, the secondnational Drive Your Car/Drive Your Care workshop was held in Calgary during Rendez-vous 2011.International developmentCANADA’S ROLE at the international level has been invaluable.The CHS, its provincial chapters and Canadian hemophiliatreatment centres have been world leaders in twinningprojects, having participated in 12 twinning partnerships overthe last decade.By linking emerging and established hemophilia organizationsand treatment centres, the Twinning Program has improvedtreatment and care for people with hemophilia around theworld and the CHS can be proud to have been instrumental inthat success.2011 Annual Report15

A grassroots organizationCanadian Hemophilia SocietyTHE CHS would not bewhat it is today withoutthe innumerablecontributions of aremarkable group ofdedicated volunteers.The CHS volunteers arevery special individualswho give countlesshours to the success ofevents and programs.In addition, our chaptersdo tremendous workreaching out to thebleeding disordercommunity. Theyorganize local activities,operate children’ssummer camps, keepmembers informedthrough newsletters andcoordinate numerousand creative fundraisingevents.OUR CHAPTERPRESIDENTSIN 2011Haydn HendricksBritish ColumbiaStacey JohnsonJamie PytelRyanne RadfordAlbertaMaia MeierSaskatchewanCory PrestaykoManitobaPaul WiltonOntarioFrançois LarocheQuebecBrent BuchananNew BrunswickJoAnn CraigPrince Edward IslandDianna CunningNova ScotiaJonathan PearceNewfoundland andLabrador16

OUR BOARDOF DIRECTORSIN 2011DIRECTORSDavid BouffardJoAnn CraigDianna CunningTara CurwinVenanz D’AddarioMaury DrutzStacey JohnsonMartin KulczykKathy LawdayJonathan PearceDavid PouliotCory PrestaykoJamie PytelBruce RempelRick WainesSteven Van DusenDr. Bruce RitchieMedical AdvisorMaxime Lacasse GermainYouth RepresentativeOUR EXECUTIVE COMMITTEE IN 2011Craig Upshaw Pam Wilton, RN Mylene D’Fana Dan Doran Paul Wilton Maia Meier Bill FeatherstonePresident Past-President Vice-President Vice-President Vice-President Secretary Treasurer2011 Annual Report17

Corporate philanthropy programWe would like to thank the following companies, corporate foundations and employee fund programs for their generous support.Our way of recognizing them for their generosity is through our Corporate Philanthropy Program which acknowledges thecumulative support given to the CHS for core programming needs and program sponsorship.S A P P H I R EP L A T I N U MG O L DNovo NordiskCanadian Hemophilia SocietyB R O N Z EB I O G E N I D E C H E M O P H I L I AE N T E R P R I S E H O L D I N G S F O U N D AT I O NF O N D AT I O N D E B I E N F A I S A N C E T.A. ST-GERMAIN (LA)H É M A-QUÉBECI N D U S T R I A L A L L I A N C EL E O N’SMAW CHARITA B L E T R U S TO C TA P H A R M AP OW E R C O R P O R AT I O N O F C A N A D AR O N A L D A N D A R N O L D H O F F M A N F O U N D AT I O NYLT CONSULT I N GWe would also like to thank our numerous additional donors – individuals, corporations and foundations – who each year expresstheir confidence in us by making substantial supporting donations.Working together with individuals and the corporate sector in Canada helps the CHS accomplish its mission and vision byextending our reach and reinforcing our messages.18

The BeneFACTORs ClubCorporations that make annual gifts of $10 000 or more to the core programs of our organization are recognized as members of theBeneFACTORs Club. The Canadian Hemophilia Society recognizes their tremendous investment.VisionariesBaxterBayerInnovatorPfizerBuildersCSL BehringNovo NordiskBelieversBiogen IdecOctapharmaGrand benefactor - multi-year commitmentOur partnersThe CHS is fortunate to be surrounded by exceptional partners helping us to fulfill our mission.▪ Association of Hemophilia Clinic Directors of Canada (AHCDC)▪ Canadian Association of Nurses in Hemophilia Care (CANHC)▪ Canadian Physiotherapists in Hemophilia Care (CPHC)▪ Canadian Social Workers in Hemophilia Care (CSWHC)▪ World Federation of Hemophilia (WFH)[PARTENAIRESANTÉ logo]The Canadian Hemophilia Society is proud to be a member of Healthpartners. Healthpartners is a partnership of 16 nationalhealth charities raising funds exclusively through workplace charitable giving programs. Each Healthpartners memberorganization is a national health charity, providing services to Canadians in all regions of our country.Member organizations share goals in two primary areas:Research - Supporting medical research toward improved treatment and ultimately a cure for debilitating diseases.Programs - Sponsoring education as well as prevention efforts and services that assist Canadians living with disease.2011 Annual Report19

Canadian Hemophilia SocietyBalance SheetAs at December 31, 20112011 2010AssetsRESEARCH FUND- ENDOWMENT FUND-GENERAL PROPERTY AND CONTINGENCIES MILLION MILLIONFUND EQUIPMENT FUND FUND DOLLAR CLUB DOLLAR CLUB TOTAL TOTAL$ $ $ $ $ $ $Current assetsCash 728,897 - - - - 728,897 637,270Term deposits 200,000 - 600,000 - - 800,000 1,004,589Accounts receivableProvincial chapters 14,939 - - 40,284 - 55,223 29,544General Fund - - - 50,000 - 50,000 -Other 169,887 - - 26,900 - 196,787 151,490Prepaid expenses 7,725 - - - - 7,725 7,3381,121,448 - 600,000 117,184 - 1,838,632 1,830,231Term deposit, 2.7%, maturing inFebruary 2014 - - 400,000 - - 400,000 400,000Investments – Million Dollar Club - - - 197,787 1,959,700 2,157,487 2,053,145Property and equipment - 25,041 - - - 25,041 24,679Liabilities1,121,448 25,041 1,000,000 314,971 1,959,700 4,421,160 4,308,055Current liabilitiesAccounts payable and accrued liabilities 225,794 - - - - 225,794 150,216Account payable to Research Fund –Million Dollar Club 50,000 - - - - 50,000 -Deferred contributions 854,627 - - - - 854,627 1,088,519Fund Balances1,130,421 - - - - 1,130,421 1,238,735Unrestricted (8,973) - - - - (8,973) (53,786)Canadian Hemophilia SocietyInvested in property and equipment - 25,041 - - - 25,041 24,679Internally restrictedContingencies Fund - - 1,000,000 - - 1,000,000 1,000,000Research Fund – Million Dollar Club - - - 314,971 - 314,971 208,052Endowment Fund – Million Dollar Club - - - - 175,277 175,277 175,277Externally restricted - - - - 1,784,423 1,784,423 1,715,098(8,973) 25,041 1,000,000 314,971 1,959,700 3,290,739 3,069,3201,121,448 25,041 1,000,000 314,971 1,959,700 4,421,160 4,308,05520Extract from the audited financial statements prepared by PriceWaterhouseCoopers. The complete audited financial statements are available upon request by mail or on our Web site.

Canadian Hemophilia SocietyStatement of Revenue and ExpensesFor the year ended December 31, 20112011 2010GENERAL PROPERTY AND RESEARCH FUND-FUND EQUIPMENT FUND MILLION DOLLAR CLUB TOTAL TOTALRevenue$ $ $ $ $Public support 354,100 - 7,872 361,972 416,218Corporate support 1,969,204 - 22,638 1,991,842 2,025,655Investment income 23,908 - 131,576 155,484 93,844Government support 3,505 - - 3,505 -2,350,717 - 162,086 2,512,803 2,535,717ExpensesPrograms 1,615,123 2,716 94,000 1,711,839 1,667,551Resource development 375,251 2,690 - 377,941 549,816Governance 78,502 - - 78,502 122,860Administration 180,405 855 11,167 192,427 190,1442,249,281 6,261 105,167 2,360,709 2,530,371Excess of revenue over expenses(expenses over revenue) for the year101,436 (6,261) 56,919 152,094 5,346Canadian Hemophilia SocietyStatement of Changes in Fund BalancesFor the year ended December 31, 20112011 2010RESEARCH FUND– ENDOWMENT FUND–GENERAL PROPERTY AND CONTINGENCIES MILLION MILLIONFUND EQUIPMENT FUND FUND DOLLAR CLUB DOLLAR CLUB TOTAL TOTAL$ $ $ $ $ $ $Balance – Beginning of year (53,786) 24,679 1,000,000 208,052 1,890,375 3,069,320 2,951,974Excess of revenue over expenses(expenses over revenue) for the year 101,436 (6,261) - 56,919 - 152,094 5,346Endowment contributions - - - - 69,325 69,325 112,000Investment in property and equipment (6,623) 6,623 - - - - -Transfer to Research Fund –Million Dollar Club (50,000) - - 50,000 - - -Balance – End of year (8,973) 25,041 1,000,000 314,971 1,959,700 3,290,739 3,069,3202011 Annual ReportExtract from the audited financial statements prepared by PriceWaterhouseCoopers. The complete audited financial statements are available upon request by mail or on our Web site.21