Annual General Meeting June 7, 2011 Toronto, Ontario

2011 Annual General Meeting Financial Statements to December 31, 2010 Presentation to the 2011 Annual General Meeting

Auditors’ Report Standard letter As in past years, the auditors included a a qualification related to donation revenues, which are impossible to verify completely. Apart from that, the financial statements fairly present CCEDNet’s financial position at Dec. 31, 2010

STATEMENT OF OPERATIONS AS AT DECEMBER 31, 2010 REVENUE 2010 2009 Government Contributions $ 942,743 $ 1,429,561 Community/Charitable Sector 401,221 391,469 Event and Other Revenue 307,746 209,562 Memberships 53,098 60,242 $ 1,704,808 $ 2,090,834

EXPENSES: Schedule A - Project costs (excluding staff costs) 2010 2009 Intern wages and benefits $ 332,481 $ 277,411 Contractors 238,551 299,462 Advertising and design 6,199 6,326 Project partner fees 78,301 42,000 Credit card and processing fees 2,486 431 Communication 19,087 28,745 Materials and supplies 9,839 8,995 Office, meeting rooms and equipment rental 34,162 9,261 Translation 16,617 13,388 Travel and meals 117,843 220,714 $ 855,566 $ 906,733

EXPENSES: Schedule B - Board, Committees and Members 2010 2009 Meeting, Travel and meals $ 4,297 $ 19,806 Subscriptions 4,588 11,069 Total $ 8,885 $ 30,875 EXPENSES: Schedule C - Staff Costs 2010 2009 Wages and Benefits $ 717,751 $ 917,500

EXPENSES: Schedule D - Administration 2010 2009   Advertising and promotion $        693 $     2,153 Bank charges and online transaction cost 8,369 9,388 Communications 8,218 13,905 Insurance 4,227 3,161 Internet 11,802 8,693 Membership dues - 1,488 Equipment related cost 17,037 13,303 Office 13,727 36,662 Professional services 40,084 23,192 Rent 35,227 82,381 Translation 1,665 $ 141,049 $ 194,326 Amortization 6,989 10,620 $ 148,038 $ 204,946 NET INCOME $ (25,432) $ 30,780

STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2010 ASSETS 2010 2009 Current Bank $ 246,907 $ 51,734 Accounts receivable 195,456 297,290 Prepaid expenses 6,915 12,453 449,278 361,477 Capital Assets (Note 5) 15,284 23,905 TOTAL ASSETS $ 464,562 $ 385,382

STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2010 2010 2009 LIABILITIES Current Accounts payable 103,241 101,123 Deferred revenue and contribution (Note 8) $ 267.470 $ 164,976 370,711 266,099

STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2010 2010 2009 NET ASSETS Invested in Capital Assets Unrestricted Restricted $ 15,284 28,567 50,000 93,851 $ 23,905 45,378 119,283 TOTAL LIABILITIES AND NET ASSETS $ 464,562 $ 385,382

NOTE 5: CAPITAL ASSETS Description Cost Accumulated Amortization 2010 Net Book Value 2009 Computer equipment $ 32,360 $ 27,146 $ 5,214 $ 9,481 Furniture & equipment 43,124 33,054 10,070 14,424 $ 75,484 $ 60,200 $ 15,284 $ 23,905

Internally Restricted Net Assets The Board of Directors of the organization has restricted $50,000 of net assets for a reserve equal to approximately three months of non-project fixed operating costs. The net assets are not available for any other purpose without prior approval of the Board.

STATEMENT OF CHANGES IN NET ASSETS AS AT DECEMBER 31, 2010 Invested in Capital Assets Unrestricted Restricted 2010 2009 Balance, beginning of year $ 23,905 $ 45,378 $ 50,000 $ 119,283 $ 88,503 Surplus (deficiency) of revenue over expenses (6,989) (18,443) - (25,432) 30,780 Investment in capital assets (1,632) 1,632 Balance, end of year $ 15,284 $ 28,567 $ 93,851

Revenues and Expenses 2000-2010

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Annual General Meeting June 7, 2011 Toronto, Ontario