Voluntary Sector Reporting Awards

Voluntary Sector Reporting Awards

November 29, 2010 08:49 ET

Kingston Literacy & Skills Wins Voluntary Sector Reporting Award

Local Charity Honoured for Financial Reporting Excellence

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2010) - Kingston Literacy & Skills was among the winners of the third annual Voluntary Sector Reporting Awards (VSRAs), which were announced at a luncheon ceremony in North York on November 26. At a time when financial reporting is becoming increasingly important to organizations of all types and sizes, the VSRAs recognize those organizations within Ontario's diverse and growing not-for-profit sector that have achieved best practices.

Kingston Literacy & Skills won in the Total revenues from over $1 million to $10 million category. "We're delighted to have been recognized by the Voluntary Sector Reporting Award's expert judges for our annual report to stakeholders," said Marilyn Shurtleff, President of the Board of Directors of Kingston Literacy & Skills. "We received valuable feedback when we entered this annual competition earlier. The feedback was right on point and provided insights that allowed us to improve our reporting to stakeholders. It is gratifying to have the work we have put into ensuring that we are accountable and transparent to stakeholders recognized with this award." 

Kingston Literacy & Skills is a community-based program in the heart of the Thousand Islands region of Ontario. Kingston Literacy & Skills, one of the first community-based literacy programs to be developed in Ontario, has over three decades of experience delivering literacy training to adults and families in Eastern Ontario. It is competing in the total revenues from over $1 million to $10 million category. For more information on this charity, see: www.kingstonliteracy.com.

The winners in the four categories are:

National and international organizations headquartered in Ontario:
World Vision Canada
Ontario organizations
Total revenues over $10 million (tied)
Canadian Paraplegic Association Ontario
United Way Toronto
Total revenues from over $1 million to $10 million:
Kingston Literacy & Skills
Total Revenues up to $1 million
Sarnia-Lambton "Rebound" A Program for Youth

Sarnia-Lambton "Rebound" and United Way Toronto won for the third time, with the United Way Toronto sharing the honours in the Total revenues over $10 million category with the Canadian Paraplegic Association Ontario. World Vision Canada won in its category for the second year in a row.

"In 2008, the Voluntary Sector Reporting Awards (VSRAs) program was launched by CA-Queen's Centre for Governance with an eye towards promoting timely and accurate financial statements," said Steve Salterio, Director of the CA-Queen's Centre for Governance. "If this type of award can help charities show current and potential supporters that they practise assessable, clear and transparent reporting about how they handle their resources and fulfill their mandates, then only good things can happen."

Sponsored by PwC, the awards recognize best practices for financial reporting by registered charities that produce annual reports in Ontario. Their annual reports are rated for availability, clarity, user friendliness, accessibility and impact. Organizations competed in five categories based on revenue size with the winner in each category receiving $5,000 and recognition as leaders in the field.

"Many Chartered Accountants generously donate their time and money to a variety of worthy charitable causes," said Brian Leader, the Institute's Vice-President of Learning. "We believe this type of competition can motivate the entire sector to continually raise the bar for financial reporting and helps them accomplish the many wonderful things they do in communities across Ontario."

About the CA-Queen's Centre for Governance at Queen's School of Business

CA-Queen's Centre for Governance (business.queensu.ca/centres/CA-QCG/) goal is to raise the bar on Canadian governance research with respect to transparency and financial accountability and convey that research's implications to academics, students and the public at large. Situated at Queen's School of Business (business.queensu.ca), one of the world's premier business schools, the Centre conducts cutting edge basic and applied research on governance dealing with such issues as fraud prevention and detection and improving the quality of Canadian securities' regulation. The Centre's premiere not for profit program is the Voluntary Sector Reporting Awards that rewards voluntary sector organizations for transparent Annual Reports and financial accountability.

About the Institute of Chartered Accountants of Ontario:

The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario's 34,000 Chartered Accountants and 5,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession's internationally recognized standards of qualification and the enforcement of its rules of professional conduct. Chartered Accountants are the professionals Canada's business leaders trust to help make the financial, strategic and leadership decisions that matter. The Institute's website is: www.icao.on.ca and the student website is www.guidetorulingtheworld.ca.

About PwC:

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,300 partners and staff in offices across the country.

About PwC Canada Foundation:

In 2004, PwC established the PwC Canada Foundation ("The Foundation") to expand upon the firm's philanthropic activities and to build and empower community leadership by sharing of our time, expertise and resources. The Foundation currently operates a suite of community engagement programs that include Team Volunteering, Volunteer Grants, Volunteer Recognition, Leadership Grants and Volunteer Education and Engagement.

Over the past six years, PwC partners and staff have participated in over 1,300 meaningful volunteer experiences across the country contributing over 70,000 total volunteer hours back to the community. In recognition of the volunteer efforts made by employees and through the Foundation's grant programs, over 2,800 donations have been made to registered charitable organizations across Canada amounting to over $1.6 million and financial support. For more information about the Foundation, please visit www.pwc.com/ca/foundation.

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