STATEMENT OF REVENUE AND EXPENSE AND CHANGES IN FUND BALANCE

2020 2019
Revenue $ $
Fundraising 3,265,497 3,015,678
Net revenue from commercial activities* 196,401 1,845,881
Net investment income 515,198 655,685
Canada Emergency Wage Subsidy 135,565 -
4,112,661 5,517,244
Fundraising expenses 375,883 381,067
Total net revenue 3,736,778 5,136,177
Operating expenses 658,219 732,071
Excess of revenue over expense before the next item 3,078,559 4,404,106
Contributions to Hôpital Charles-Le Moyne 1,482,341 2,994,374
Excess of revenue over expense 1,596,218 1,409,732
Opening balance 7,875,019 6,465,287
Fund balance 9,471,237 7,875,019

Fiscal year ending December 31, 2020

*Assignment of the parking operation agreement on May 31, 2020.