Administration

The Canada Post Foundation for Mental Health (registered charity number: 801 839 010 RR 0001) is a not-for-profit Foundation with fully audited annual financial statements available to the public. The Foundation funds projects in any given year from donations received in the prior year. As a result, the Foundation's balance sheet for 2009 showed net assets of $1,578,339. These funds were used to fund 32 projects, with grants totalling $1,569,234, in 2010. More than 97.5 per cent of all donations received by the Foundation are used to provide funding for projects undertaken by community-based organizations. Less than 2.5% of contributions are used to cover overhead costs such as meetings of the Grants Advisory Committee, legal advice, contract administration for grants awarded and bookkeeping.