Breaking down Ritchie’s finances

Get the complete picture of Ritchie Community League finances at the Annual General Meeting May 23, 2019. By then, figures now available will be audited.

However, un-audited financial statements are tabled at monthly board meetings and posted to the league’s website (Follow this path: / About Us / The League / Finances (bottom of page). The most recent are for the last fiscal year: April 2018 to March 2019.

They show Ritchie’s revenue surpassed expenses by $18,387...and that’s without a boost from casino funds!

Where is the money from?

A look at the revenue breakdown ($105,292) provides a partial answer, but it is not the whole story. Some programs and social events for which expenses are recorded do not yet have their corresponding revenue included, and vice versa.

  • 30% Hall Revenue ($31,317)

  • 24% City Grant to the Ritchie Hall Revitalization Committee ($25,500 from Misc. Revenue)

  • 19% Programs ($10,615 + Soccer from Misc. Revenue $9,625)

  • 13% City of Edmonton Operating Grant ($13,693 from Misc. Revenue)

  • 6% Other ($5,780 remaining after Soccer and City grants removed + Fundraising $264)

  • 5% Social ($4,880)

  • 3% Membership sales ($3,617)

How do league expenses for these categories compare?

Note that some program and social event expenses have not been reported.

  • Hall costs top the list, incurring 45% of the league’s expenses. And, while it also generates the most income, that revenue only covers two thirds of its expenses.

  • Programs are breaking even

  • Social Events only cover 30% of their expenses.

Which league activities cover their costs?

Last year, the three top money makers were:

  • Outdoor soccer

  • Karate

  • Oktoberfest.

Isn’t the league an official non-profit?

Absolutely. Money is not everything! Fostering community spirit and connections is important too. So many activities are offered free to members, while others are free for all who attend, league members or not. The most expensive to host include:

  • Community League Day ($4,655)

  • free swimming for members at designated city pools ($2,088 in 2017-2018)

  • Mill Creek Ravine Clean Up ($1,000).

Are there any initiatives that don’t cover their costs, despite collecting fees?

Just a few.

  • Yoga (recouping 88% of its costs)

  • Margareta Monday classes (Zumba, Core Fitness and Total Body Challenge) which cover only 27% of their combined costs.

  • Youth Shakespeare (recouping 19% of its costs)

What does casino money support?

Some casino money supports other league activities.

In the seven fiscal years between 2010-2017, Ritchie spent an average of $17,959 casino funds annually to balance its books. Only twice were casino funds unnecessary, when other league revenue surpassed expenses (in 2012-13 and 2013-14).

Ritchie Community League has been squirreling away casino funds for years and going into this month’s event, has banked $493,651. Alberta Gaming, Liquor and Cannabis (AGLC) agency, which oversees casinos, has allowed this sum to accumulate because the league has earmarked it for a new hall. Planning that major capital project is the work of the Ritchie Hall Revitalization Committee (RHRC).