OWN THE PODIUM

ANNUAL REPORT 2014-2015

To be a world leader in high performance sport
at the Olympic and Paralympic Games

VISION

For Canada to be a world leader in high performance sport at the Olympic and Paralympic Games

MISSION

To lead the development of Canadian sports to achieve sustainable podium performances at the Olympic and Paralympic
Games

MANDATE

To strengthen the high performance sport system by leading the delivery of programs and services to increase Olympic
and Paralympic podium results through an evidenced based, expert driven, targeted and collaborative model

VALUES
Excellence
Podium Driven
Without Compromise
Solutions Focused
Relentless

Integrity and Trust

Bold Leadership
Ethical
Nimble and Flexible
Performance Partner
Challenging
Open and Transparent
Collaborative
Respected
Outcome Focused
Accountability

FUNDING PARTNERS

TABLE OF CONTENTS
3
5
6
8
11
15
16
17
19
21
24
27

Message from the Chair and Chief Executive Officer

Board of Directors
Operational Objectives
Podium Excellence - Summer
Podium Excellence - Winter
Sport Science, Medicine, Research and Innovation Excellence
System Excellence
Organizational Excellence
Funding Report
Audited Financial Statements
Notes to Audited Financial Statements
Supported National Organizations
Annual Report 2014-2015

Innovative
Ground Breaking
Creative
Visionary
Calculated Risk

MESSAGE FROM THE CHAIR AND CHIEF EXECUTIVE OFFICER

It can be said that sport has changed our country, inspired
us all and lifted us up. We are a country strengthened
by men and women of sport. So much so that on this
past October 16th, the Right Honorable David Johnston,
Governor General of Canada, declared that 2015 would
be the Year of Sport in Canada. Own the Podium is proud
of the role it plays, with its partners to help spread the joy
and exhilaration of sport for all and the pursuit of athletic
success against the best in the world. We too aspire to be
great and hold ourselves accountable to deliver success
every day. We live for sport.
The past year began with a $3 million funding lift for the
Canadian Olympic and Paralympic Sport Institute Network
provided by the Canadian Olympic Committee through its
Foundation, plus support from the Canadian Paralympic
Committee. This funding is focused on enhancing the
Networks mandate of delivering world-class daily training
environments for athletes and coaches across Canada.
Building on support provided by the Government of
Canada and various provincial governments, this kind of
collaborative partnership will help keep our athletes on a
level playing field with the worlds best.
Own the Podium accepted the challenge put to us by The
Honorable Bal Gosal, Minister of State for Sport when he
agreed to match $1 million in corporate funding raised in
support of Innovations 4 Gold. Thanks to Canadian Tire,
the Canadian Olympic Foundation, the Canadian Olympic
Committee, MITACS, the Institute national du sport
du Quebec, and the Canadian Paralympic Committee,
Canadas research and innovation program took a giant
leap forward.
With the support of Canadian Tire, Innovations 4 Gold
pioneered a revolutionary new advantage for Canadian
athletes with a project that demystifies and harnesses
the power of sport analytics. Canadian Tires dedicated
team of analysts are today working side by side with top
coaches, officials and athletes helping to inspire excellence,
elevate attention to every detail and grow and sustain
winning habits. Analytics will help coaches and athletes
of tomorrow refine training programs and identify
opportunities for improvement. OTP is convinced that data
analytics will be a new difference-maker in our relentless
quest to close the gap on the worlds top nations and
deliver more medals for Canada.
As a result of the 2015 Pan Am and Parapan Am Games
in Toronto, Canadas sport system has been gifted with
a number of spectacular new world-leading facilities.
These venues will make a huge difference in our efforts
to achieve podium success at the 2016 Olympic and
Paralympic Games and beyond. Hosting the Games in
Toronto will also inspire a whole new generation of youth

to get involved in sport, strengthen communities across

Canada, elevate civic pride, and motivate young Canadians
to strive for excellence in sport and in life. For Own the
Podium, Toronto 2015 will deliver new knowledge and
experiences that will help us more fully prepare Canadas
Olympic and Paralympic athletes to win in Rio 2016.
With an eye on future podium success, the Government
of Canada reinforced its determined leadership in helping
advance a new culture of winning in Canada by boosting
its financial support during this Year of Sport. Budget 2015
delivered new funding for the development of Canadas
next generation of champions. Beginning in 2016-17, the
Government of Canada will match up to $20 million of
private sector investment to support athletes who are fiveto-eight years away from potential Olympic or Paralympic
success.
With support and continued collaboration from our
partners at the Canadian Olympic Committee, Canadian
Paralympic Committee, and Sport Canada, Own the
Podium is ever more focused on creating winning
conditions.
Like all Canadians, we know that when the Canadian flag
is raised anywhere in the world, or O Canada is sung to
celebrate sporting success, we all win. We know that sport
can be a powerful force for positive change, can contribute
to nation building and inspire us all to live better lives. In
a world filled with challenges and adversity, sport is still a
beacon for hope and humanity. Sport matters!
In these coming months and the pending countdown
to Rio, all eyes will once again be on our finest young
athletes wonderful ambassadors of the Canadian spirit
as they seemingly make time stand still. OTP will be there
every step helping each one deliver the performance of a
lifetime.
We live to contribute in this way to a better Canada.

John Furlong
Chair

Anne Merklinger

Chief Executive Officer

Annual Report 2014-2015

Elissa Alarie and Bianca Farella

Members of Canadas Womens Rugby Sevens Team

Annual Report 2014

BOARD OF DIRECTORS

John Furlong

Therese Brisson

Duncan Fulton

Patrick Jarvis

Dr. Guy Larose

Chris Overholt

Julie Payette

Keith Pelley

Tricia Smith

Dr. Mike Wilkinson

Martin Boileau
Board Observer
Annual Report 2014-2015

OPERATIONAL OBJECTIVES

Increased Medal Performance at

Olympic and Paralympic Games

Podium Excellence

Summer Sport

Winter Sport

System Excellence

Sport Science, Medicine, Research,

and Innovation Excellence

High
High
Performance Performance
Directors
Athlete
and Coaches Development

Canadian
Sports
Institute
Strategy

Integrated
Support
Team

Research
and
Innovation

Performance
Intelligence
and Analysis

World-leading podium performance pathways and

plans for all targeted sports

HP Directors
and Coaching
Strategy

HP Athlete
Development
Framework and
Strategy

CSI Network
Strategy and
Investment
Framework

Integrated
Support Team
Professional
Development

Think Tank
Advisory Groups

Performance
Analysis and
Analytics

Optimal daily training and competition

environment driven by world-leading coaches
and technical leaders supported by optimal SSSM
practitioners for all targeted sports

Model to
Develop
NextGen HP
Directors and
Coaches

Podium
Pathways and
Gold Medal
Profiles

NextGen
Programs and
Capacity
Building

National Sport
Science
Medicine
Advisory
Committee

Innovations 4
Gold

Performance
Intelligence

Next generation of podium potential athletes and

teams identified and developed for podium success

Professional
Development

Front-line
Initiatives

System
Harmonization

Athlete
Intake and
Monitoring
(AIM)

Strategic
Partnerships

At Games
Delivery

Organizational Excellence

Business
Foundation

Annual Report 2014-2015

Business
Operations

Mark de Jonge

Gold medal in K-1 200m at 2014 World Championships, Moscow

Bronze medal in K-1 200m at 2012 Olympic Games, London

Photo Credit: Balint Vekassy

PODIUM EXCELLENCE - SUMMER

Rio Mid-Quad Update
Half-way through the 2016 Rio Quadrennial, Canadian athletes are poised to surpass the medal results achieved in the
London Olympic and Paralympic Games. The following table provides an overview of Canadas medal performance
heading into the third year of the Olympic quadrennial.

Nation

Rio Mid Quad

Medal Rank

AUS
JPN
NED
BRA
CAN
ITA
KOR
UKR
ESP
HUN

7th
8th
9th
10th
11th
12th
13th
14th
15th
16th

Rio Mid Quad

Rolling Medals
Won*
36
32
24
23
23
22
20
20
20
19

London 2012
Medal Rank

London 2012
Medals Won

Medal
Difference

7th
6th
11th
16th
14th
10th
9th
12th
15th
13th

35
38
20
17
18
28
28
20
17
18

-1
-6
+4
+6
+5
-6
-8
0
+3
-1

* Rolling Medal count refers to the medals from the most recent World Championships as not all sports have a World Championships each year of the
Olympic quadrennial

Some of the exceptional highlights from the 2014 World Championship season include:
Two Canadian World Champions are crowned in 2014 with Catherine Pendrel winning the womens cross-country
World Championships and Mark de Jonge in the mens K-1 200m at the ICF World Championships
Cycling Canada converted on two additional medals to lead all sports with three world championship medals
Canadas combative sport community reached the podium three times in wrestling, judo and boxing
Rowing produced two medals and trampoline yielded one medal at their respective world championships
Multiple 2013 World Championship medal winning sports athletics (5), diving (3) and swimming (2) continue to trend
well in 2014 with numerous podium results at the 2014 Commonwealth Games and multiple Top-3 world ranked
performances in a year without a world championship
Rugby Canada continued to shine with the Womens Sevens finishing the 2013-14 season ranked 3rd in the World
Rugby rankings
Canadas Team Sport Strategy continues to demonstrate excellent positive return on investment with an impressive
5th place finish by womens basketball at the 2014 FIBA World Championships, the mens sevens 6th place finish in the
World Rugby rankings, the mens volleyball 7th place result at the mens world championships and the 8th place world
ranking by Canadas womens water polo squad

Annual Report 2014-2015

PODIUM EXCELLENCE - SUMMER

Equally stellar performances were realized from Canadas
Paralympic athletes in the 2014 Para-championship
season. Some highlights were:
Canadas womens wheelchair basketball team was
crowned world champions
Para-cyclist Shelley Gautier collected 2 gold at the 2014
IPC Para Road Worlds Championships
Canadian para-cyclists achieved three additional
medals at the 2014 IPC Para Road and Track World
Championships
Para-canoe and para-triathlon, para-equine and
wheelchair rugby each reached the podium in their
respective Para-world championships
Canada is the 3rd ranked nation at the 2014 IFDS World
Championships including a silver in the Sonar
Para-Swimming and para-athletics collectively have
over 30 athletes ranked in the top-5 in a year without a
para-world championships
Over the next fourteen months, OTP will work closely with
Canadas summer sport organizations to ensure that no
stone is left unturned in converting our podium potential
events to medals at the 2016 Rio Games. Some of the
critical elements being addressed include:
Maximizing Canadas performances at the 2015 Pan
American and Parapan American Games as a critical
rehearsal for the 2016 Rio Games;
Maximizing early Olympic and Paralympic qualification
opportunities;
Delivering on world leading daily training environments
and competition strategies for athletes and coaches;
Accessing quality sport science and sport medical
services relative to the performance gaps; and
Implementing key research and innovation projects.
Own the Podium has been quite deliberate in its efforts to
lay down the foundation required to increase the pool of
podium potential athletes. We will continue to evolve our
NextGen strategy using the following four key tactics:
1. Collaborate with targeted sports in developing and
validating their Podium Pathways and Gold Medal
Profiles;
2. Invest in NSOs coaches and programs directed towards
podium potential for Tokyo2020 and beyond;
3. Invest in existing and new NextGen Institute Programs;
and
4. Support strategic investments aimed at building
Canadas pool of podium potential athletes.

Annual Report 2014-2015

Alex Harvey

Silver medal in individual sprint

classic at FIS Nordic World Ski
Championships 2015, Sweden

PODIUM EXCELLENCE - WINTER

The first year following a Games can be a significant portal for change and certainly 2014-15 brought a measure of this
element into the winter high performance sport landscape in Canada.
Although change can be healthy for a system, it can also pose potential threats. There were a number of significant
organizational changes within the Canadian winter sport community in 2014-15. Five of Canadas winter NSOs, which
produced over half of our medals in Sochi, either changed or were embarking on a change in staff leadership. This, coupled
with changes in senior volunteer leadership, left a large number of our medal producing NSOs potentially vulnerable. OTP,
in collaboration with other partners, was able to assist in ensuring that most of the transitions had little to no effect on the
high performance programs of the respective organizations. This certainly reinforced the assertion that, although change
may be inevitable, our ability to monitor and manage that change in a productive manner is not only improving but will
become an even more important factor in ensuring Canadas long term success.
With a number of marquee athlete retirements over the last 12 months, there has been and will continue to be some
effect on Canadas medal production in the short term. Although our interim results, as measured by performances at
World Championships, still demonstrated a retention of overall strength, it is clear that retraction is a theme with respect
to both the pool of podium potential athletes and ultimately podium performances. On the positive side however, once
the addition of the new disciplines (April of 2015) were retroactively factored in to the 2015 overall results, there was
little net shift in Canadas overall medal position. As the competitive landscape in our circle becomes more crowded,
Canada is at a stage where we must start to engage on new fronts and employ a broader spectrum of strategies and tools
in order to ensure our position as a leading winter nation does not erode further.

Canada

2001
(Q3)
18
5

Total Medals
Total Rank

2002
(Q4)
17
4

2003
(Q1)
21
4

2005
(Q3)
28
3

2006
(Q4)
24
3

2007
(Q1)
27
2

2009
(Q3)
29
1

2010
(Q4)
26
3

2011
(Q1)
33
2

2013
(Q3)
29
2

2014
(Q4)
25
4

2015
(Q1)
24
4

Canadian Medal Ranking 2001-2015

Total Rank
2001
(Q3)

2002
(Q4)

2003
(Q1)

2005
(Q3)

2006
(Q4)

2007
(Q1)

2009
(Q3)

2010
(Q4)

2011
(Q1)

2013
(Q3)

2014
(Q4)

2015
(Q1)

0
1
2
3
4

Total Rank

5
6
7

Annual Report 2014-2015

11

PODIUM EXCELLENCE - WINTER

Canadian Medals Won 2001-2015
Total Medals
35
30
25
20
15
Total Medals

10
5
0
2001
(Q3)

2002
(Q4)

2003
(Q1)

2005
(Q3)

2006
(Q4)

2007
(Q1)

2009
(Q3)

2010
(Q4)

2011
(Q1)

2013
(Q3)

2014
(Q4)

2015
(Q1)

With the final sprint to a Games comes the need to laser focus on the optimization of medal opportunities and conversion
at the coming set of Games. As a result of this narrowing of focus, it is inevitable that a number of longer term, potentially
more sustainable system lifting projects may be paused in the short term. This was certainly the case with the Podium
Pathway and Gold Medal Profile initiatives which largely had to be left until after Sochi for the winter sports to attend
to. Over the last year however work has started in earnest in this very important area along with the cornerstone data
analytics projects being spearheaded through a key partnership with Canadian Tire. Through the work already undertaken
we have seen glimpses of the profound impact this initiative will have on everything from identifying and monitoring
athletic talent to determining the true medal potential of athletes and sports. Ultimately this work will also allow sports to
better craft curriculum for developing athletes, guide and track athletes through their athletic pathway, and make better
decisions around the allocation of resources, both human and financial. With a majority of winter sports now either on the
pathway or scheduled to start in the near future, this will be an important focus and become a key contributor to Canadas
future successes as a winter sport nation.
One of the other very important and complementary undertakings over the past year was the focus on NextGen
programing for winter sport. Through key partnerships with system ready NSOs, the COPSI Network, provincial partners,
and other funding partners such as CPC and COC, we were able to embark on nine NextGen Olympic and Paralympic
programs. All have proven to be very productive and will become critical tools in ensuring that the pool of podium
potential athletes grows in a systemic fashion moving forward.
In a very short time, the future of winter sport will again shift significantly with the naming of the host city for the 2022
Olympic Winter Games. As we have seen many times over, the hosting of a Games transforms the sporting trajectory of a
nation. Given this along with the many other factors which make the world of high performance sport an ever increasingly
competitive landscape, Canada must continue to commit to use every experience and tool at our disposal to ensure that
we remain a leading winter nation.

12

Annual Report 2014-2015

Mikal Kingsbury

Silver medal in Freestyle Moguls at

2014 Olympic Winter Games and 2015 World Championships

Brendan Green
Canadian biathlete
Photo Credit: Dave Holland

SPORT SCIENCE, MEDICINE, RESEARCH, AND INNOVATION EXCELLENCE

Integrated Support Team (IST) Professional
Development

The Sport Innovation (SPIN) Summit is Canadas cutting

edge applied high performance sport science, medicine
and research conference, organized annually by Own
the Podium. The 2014 SPIN held in Montreal was a
tremendous success with over 250 sport science and
medicine experts who assist targeted programs with athlete
preparation in the daily training environment. Many of the
interactive sessions were delivered at the newly completed
Institut National du Sport du Qubec providing the
opportunity to showcase this world class high performance
training facility.

innovative thinking to solve sport performance questions

about how we could Own the Podium. These future interns
will be the conduit between the Canadian National Teams,
CSC/CSIs, and Universities to bring together a winning
equation for future Olympic and Paralympic Games. The
results will not only impact podium performances but will
also contribute to healthy and active lifestyles across the
country. We are currently supporting three PhDs and one
Post Doctoral Fellow with a new group of five to begin next
year.

March, 2015 also brought together sport scientists from

the COPSI Network for collaborative skill development. This
three day workshop culminated in the drafting of a national
position paper outlining Olympic and Paralympic athlete
intake assessment and monitoring protocols.
Working creatively with the Sport Information Resource
Centre, Own the Podium led the development of three new
issues of the High Performance SIRCuit which captures the
essence of merging the art of coaching with the science of
sport.

Innovations for Gold Campaign

Innovations 4 Gold (I4G) is Own the Podiums applied sport

research program to support cutting edge/competitive
advantage initiatives in proactive sports medicine, human
performance and sports engineering. I4G supports
research projects, which are helping Canada win more
medals at the Summer and Winter Olympic and Paralympic
Games. The I4G initiative has come to fruition via
significant contributions from Sport Canada, the COC, the
COF, the CPC, and corporate Canada (Canadian Tire) to
ensure that our country is poised for continued success in
high performance sport.

Next Generation of Applied Sport Researchers:

OTP-MITACS

Through unique research and training programs, Mitacs

is developing the next generation of Canadian innovators
with vital scientific and business skills. In partnership
with companies, government and academia, Mitacs is
supporting a new economy using Canadas most valuable
resource its people. One of these partnerships is with
Own the Podium. A contribution to Canadas success
in Vancouver, London and Sochi was including talented
graduate and post-graduate research interns to engage with
Annual Report 2014-2015

15

SYSTEM EXCELLENCE
The goal of the System Excellence priority is to increase
the number and quality of world class athletes, coaches
and technical leaders supported by fully functional CSC/
CSIs. During the past year, a number of initiatives have been
delivered which have contributed to this strategic priority.

High Performance Directors and Coaches

Flowing from the National Strategic Action Plan for the

development of High Performance Directors and Coaches,
a series of initiatives were delivered in support of this
strategy. OTP in conjunction with the CAC, various NSOs,
Sport Canada, P/T governments, CSC/CSIs, CCUPEKA, COC
and CPC established an action plan with four key goals and
related tactics in order to: 1) recruit, retain and improve
worlds best high performance directors; 2) recruit, retain
and improve worlds best coaches; 3) build pool of expert
coaches with potential to become worlds best and; 4)
develop strategic funding support for high performance
directors and coaches.
In September 2014, a very successful High Performance
Directors retreat was held in Toronto. The event brought
together 65 delegates from winter and summer sports,
funding partners and OTP technical staff. The focus of
the retreat was to provide a world class professional
development learning opportunity for Canadas high
performance directors of Olympic and Paralympic
NSOs, share expertise and experiences and enhance
key competencies and training for our key technical
leaders. The retreat identified several areas related to the
relationship with NSOs and CSC/CSIs which led to a followup meeting convened by OTP where opportunities were
identified to strengthen these critical relationships.

Canadian Tire Analytics Team

Canadian Tire Corporation has continued its partnership

with Own the Podium and is using its best-in-class
data analytics division to provide valuable insights and
information to help Canadian athletes win more medals on
the world stage. The information will also be used to help
coaches and athletes refine their training programs and
identify opportunities on the path to the podium.

Canadian Olympic and Paralympic Sport Institute

Network (COPSI Network)

OTP continues to work with the CSC/CSIs to implement

Canadas Strategy and Investment Framework for the COPSI
Network. With the development of new world class training
and competition spaces in Toronto, Montreal and Calgary,

16

Annual Report 2014-2015

the COPSI Network is quickly becoming a key component of

our high performance delivery system offering state of the
art support services to our national teams.
A key focus for 2014-15 was the completion of Memoranda
of Understanding with Provincial Governments, NSOs, CSIs
and PSOs to deliver Next Generation Institute Programs
which focus on supporting Canadas next generation of
Olympic and Paralympic medalists who are 5-8 years away
from the Podium. A total of 24 such agreements were
concluded in 2014-15 involving 248 athletes and 35 coaches
in four CSIs.

ORGANIZATIONAL EXCELLENCE
As recognized by OTPs funding partners, (Sport Canada,
COC, CPC), in order to achieve organizational goals,
organizations need to focus on how the organization is
run, including the various processes, systems, and controls
that are used to strategically direct and lead them. OTPs
focus on Organizational Excellence permeates all aspects
of the organization from the dedication and passion of our
volunteer board, to the experience and expertise of our
staff team. In order for us to achieve our vision for Canada
to be a world leader in high performance sport at the
Olympic and Paralympic Games, OTP must exemplify the
same dedication, effort and discipline as Canadas athletes.
Deloitte Best In Class
In 2014-15, OTP continued to implement measures to
improve its leadership and business operations flowing
from the COC Best In Class Enhancement Initiative
conducted by Deloitte LLP in late 2013-14. Areas of
assessment included Governance and Risk, Strategy
and Planning, Leadership and Culture, People, Revenue
Generation & Engagement, and, Support Services. Of the
31 business process areas that were assessed, OTP scored
Advanced and Best-in-Class in 26 areas, Defined in 2 areas
and Developing in 3 areas. From the OTP assessment,
Deloitte assisted us in developing the priority breakdown
and roadmap to help OTP achieve our targets in the high
priority areas. This process continues to help validate
many of the outlined strategies in the current OTP Strategic
Plan and helps focus our efforts on the business process
areas that will yield the best return on investment. OTP
is grateful to the COC for allowing the organization to be
assessed under this program.
In addition to the above, in 2014-15, OTP:
Reorganized the senior staff leadership roles by
merging the Director of System Excellence and the
Director of Planning and Operations into a single
position in order to streamline responsibilities as well as
contain costs.
Updated key internal policies in order to remain current
with accountability requirements as well as best
practices in the non-profit sector.
Delivered prudent financial management and
maintained open and transparent financial reporting.
Fully implemented a new performance management
system with clear goals, professional development
plans, regular feedback and year-end performance
reviews.

Annual Report 2014-2015

17

Janet McLachlan

Gold medal at 2014 Womens World Wheelchair

Basketball Championships, Toronto

Photo Credit: Wheelchair Basketball Canada / Phillip MacCallum

FUNDING REPORT

NSO and CSC/CSIs Funding

year ended March 31, 2015
This report summarizes Own the Podiums recommendations to funding parties who distribute funds directly to National
Sport Organizations and the Canadian Sport Centres / Canadian Sport Insitutes.
Source of Funds
Sport Canada
COC - NSO and CSC/CSIs
COC - Olympic Legacy Coaching Fund
CPC
Total

$61,100,000
$4,697,500
$400,000
$500,000
$66,697,500

Distribution of Funds
NSO - Winter
NSO - Summer
NSO - Team
NSO - Olympic Legacy Coaching Fund
Total NSO Funding

$21,532,500
$34,965,000
$5,600,000
$400,000
$62,497,500

CSC/CSIs Funding

$4,200,000

Total

$66,697,500

Source of Fund

92%

Sport Canada

Sport Canada
COC - NSO and CSC/CSIs
COC - Olympic Legacy Coaching Fund
CPC

Annual Report 2014-2015

19

INDEPENDENT AUDITORS REPORT

To the Board of Directors of Own the Podium
We have audited the accompanying financial statements of Own the Podium, which
comprise the balance sheet as at March 31, 2015, and the statements of revenue and
expenses, changes in net assets and cash flows for the year then ended, and a summary of
significant accounting policies and other explanatory information.

Managements Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial
statements in accordance with Canadian accounting standards for not-for-profit
organizations, and for such internal control as management determines is necessary to
enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with Canadian generally accepted auditing standards.
Those standards require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditors
judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entitys preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
entitys internal control. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of accounting estimates made by management, as well
as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial
position of Own the Podium as at March 31, 2015, and the results of its operations and its
cash flows for the year then ended in accordance with Canadian accounting standards for
not-for-profit organizations.
Chartered Professional Accountants, Chartered Accountants
Licensed Public Accountants
25 July, 2015

20

Annual Report 2014-2015

Deloitte LLP
1600 - 100 Queen Street
Ottawa ON K1P 5T8
Canada
Tel: (613) 236-2442
Fax: (613) 236-2195
www.deloitte.ca

AUDITED FINANCIAL STATEMENTS

Balance Sheet
as at March 31, 2015
CURRENT ASSETS
Cash
Short-term investments (Note 4)
Accounts receivable
Prepaid expenses

2015
$ 2,923,484
344,938
27,149
39,261
$3,334,832

2014
$5,584,383
118,198
5,852
$5,708,433

Investments (Note 4)
Capital Assets (Note 5)

$2,062,433
48,063
$5,445,328

$72,056
$5,780,489

2015
$993,972
$993,972

2014
$1,499,692
$1,449,692

$48,063
4,403,293
$4,451,356

$72,056
4,208,741
$4,208,797

$5,445,328

$5,780,489

CURRENT LIABILITIES
Accounts payable and accrued liabilities

NET ASSETS
Invested in capital assets
Unrestricted fund

See accompanying notes to the financial statements

Annual Report 2014-2015

21

AUDITED FINANCIAL STATEMENTS

Statement of Revenues and Expenses
for the year ended March 31, 2015
REVENUES
Canadian Olympic Committee (Note 3)
Government of Canada
Government of Ontario
Canadian Paralympic Committee
Investment Income
Sponsorships
Other (Note 9)
EXPENSES
Projects
Sports Science, Medicine, Innovation
System Excellence
Podium Excellence
Organizational Excellence
Salaries and benefits
Staff travel
General administration
Business systems - Database, IT
Communications
Governance
Amortization
Total expenses
Excess of revenues over expenses
See accompanying notes to the financial statements

22

Annual Report 2014-2015

2015

2014

$3,058,295
3,000,000
555,000
400,000

$3,160,997
2,732,500
555,000
396,206

161,058

34,989

55,500
377,900
$7,607,753

57,033
$6,936,725

2015

2014

$2,470,774
550,454
761,723
$3,782,951

$2,059,456
515,032
598,997
$3,173,485

$2,541,167
513,165
310,905
138,220
65,778
48,628
36,380
$3,654,243

$2,691,440
476,325
230,761
157,290
57,895
36,318
36,191
$3,686,220

$7,437,194

$6,859,705

$107,559

$77,020

AUDITED FINANCIAL STATEMENTS

Statement of Changes in Net Assets
year ended March 31, 2015

Balance, beginning of the year

Excess of revenue over expenses
Amortization of capital assets
Acquisitions of capital assets

INVESTED IN
CAPITAL ASSETS
$72,056
(36,380)
12,387

Balance, end of the year

$48,063

UNRESTRICTED

2015

2014

$4,208,741
170,559
36,380
(12,387)

$4,280,797
170,559
-

$4,203,777
77,020
-

$4,403,293

$4,451,356

$4,280,797

2015
$170,559

2014
$77,020

(103,017)
36,380
103,922

36,191
113,211

$91,049
(33,409)
(505,720)
$(344,158)

$3,594,947
22,834
374,118
(96,207)
$4,008,903

2015
$(2,304,354)
(12,387)
$(2,316,741)

2014
$(13,855)
$(13,855)

(2,660,899)

3,995,048

5,584,383

1,589,335

$2,923,484

$5,584,383

See accompanying notes to the financial statements

Statement of Cash Flows

year ended March 31, 2015
OPERATING ACTIVITIES
Excess of revenues over expenses
Item not affecting cash
Change in unrealized gains on investments
Amortization of capital assets
Changes in non-cash operating working capital items:
Accounts receivable
Prepaid expenses
Accounts payable and accrued liabilities
Deferred contributions
INVESTING ACTIVITIES
Net purchase of investments
Acquisition of capital assets
NET CASH INFLOW (OUTFLOW)
CASH, BEGINNING OF YEAR
CASH, END OF YEAR
See accompanying notes to the financial statements

Annual Report 2014-2015

23

NOTES TO AUDITED FINANCIAL STATEMENTS

1. DESCRIPTION OF ACTIVITIES AND STATUS

8069557 Canada Association operating as Own the Podium

(the Organization) was incorporated under the Not-For-Profit
Corporations Act (NFP Act) on March 13, 2012. The Organization
is a registered not-for-profit organization and commenced
operations on April 1, 2012. As a not-for-profit organization under
the Income Tax Act, the Organization is exempt from income tax.
The purpose of the Organization is to strengthen a high
performance system by leading the delivery of programs and
services to increase Olympic and Paralympic podium results
through an evidenced based, expert driven, targeted and
collaborative model.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation
These financial statements are prepared in accordance with Part
III of the Chartered Professional Accountants of Canada (CPA)
Handbook, Accounting standards for not-for-profit organizations.
The Organization also applies the standards for private
enterprises in Part II of the CPA Handbook to the extent that Part
II standards address topics not addressed in Part III. Significant
accounting policies include the following:
Financial instruments
Financial instruments consist of cash, investments, accounts
receivable, and accounts payable and accrued liabilities.
All financial assets and financial liabilities are initially recorded
at fair value. Subsequently, financial assets and liabilities are
measured at amortized cost with the exception of cash and
investments which are measured at fair value. Changes in fair
value are recognized in the statement of revenue and expenses.
The carrying values of accounts receivable, and accounts payable
and accrued liabilities approximate their fair value due to their
short-term nature. The fair value of investments is disclosed in
note 4.
Credit risk arises from the potential other parties will fail to
honour their obligations. It is managements opinion that the
Organization is not exposed to any significant credit risk arising
from its financial instruments.
Related party transactions
Related party transactions in the normal course of operations are
recorded at the exchange amount.
Revenue recognition
The Organization follows the deferral method of accounting
for contributions. Restricted contributions are recognized as
revenue in the year in which the related expenses are incurred.
Unrestricted contributions are recognized when received and/
or receivable, if the amount to be received can be reasonably
estimated and collection is reasonably assured.

24

Annual Report 2014-2015

The Organization accounts for contributed materials and in-kind

services, when a fair value can be reasonably estimated and
when the materials and services are used in the normal course of
operations and would otherwise have been purchased.
Capital assets
Capital assets acquired by the Organization are recorded at cost.
Assets are amortized on a straight-line over their estimate useful
lives as follows:
Furniture and equipment
5 years
Computer equipment and software
3 years
Leasehold improvements
Term of the lease
Acquisitions of capital assets for research and development are
charged to operations at the date of acquisition. During the year
$48,810 (2014 - $97,619) was expensed.
Foreign exchange
Monetary assets and liabilities are translated at the rate in effect
at the balance sheet date. Revenue and expenses are recorded
at the rate in effect at the date the transaction occurs. Gains
and losses on foreign exchange transactions are recorded in the
statement of revenue and expenses when they arise.
Use of estimates
The preparation of financial statements requires management
to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent
assets and liabilities as at the date of the financial statements and
the reported amounts of revenues and expenses during the year.
The main estimates used include the useful lives of capital assets
and the amount of accrued liabilities. Actual results could differ
from these estimates.

3. RELATED PARTY TRANSACTIONS

The Organization is related to the Canadian Olympic Committee

(COC) and the Canadian Paralympic Committee (CPC) by virtue
of Board representation. Prior to the Organization commencing
operations on April 1, 2012, the COC administered the program
known as Own the Podium (OTP) and collected revenues and paid
costs on behalf of the OTP program. On commencement of the
Organization, the COC transferred to the Organization net assets
of $3,844,685.
A Memorandum of Understanding (MOU) between the
Organization, COC and the Canadian Olympic Foundation
(COF) for funding exists for the period from April 1, 2013 to
December 31, 2016. The total commitment is dedicated to the
Organizations operating and program funding in addition to
funding directed to National Sport Organizations and Canadian
Sport Institutes. The total commitment is as follows:

NOTES TO AUDITED FINANCIAL STATEMENTS

Quadrennial financial commitment
Best efforts from previous quadrennial
Carry-forward balance from previous quadrennial
Total commitment

$ 32,000,000
*5,000,000
169,442
$ 37,169,442

1,959,451

Foreign currency risk

Foreign currency exposure arises from the Organizations holdings
of non-Canadian denominated investments in the mutual funds.
Interest rate risk
Interest rate risk is the exposure of the Organizations earnings
that arises from fluctuations in interest rates. The Organization is
exposed to interest rate risk on its investments.
The Bankers acceptance matures in 2015 and has an effective
interest rate of 0.84%.

The investments are summarized as follows:

Cost
2015

Fair Value

Cost
2014

344,903

$ -

$ -

1,185,072

Canadian fixed
791,830
774,379
income
Total investments $ 2,407,371 $ 2,304,354

$ -

19,251,957
$ 17,917,485

4. INVESTMENTS

1,270,603

$ -

Concentration risk
Concentration risk exists when a significant proportion of the
portfolio is invested in securities with similar characteristics or
subject to similar economic, political or other conditions. Management believes that the investment portfolio is well diversified.

In addition to related party transactions disclosed elsewhere in

these financial statements, as at March 31, 2015, the Organization had a payable of $302,082 owing to COC (2014 - payable of
$234,862).

Mutual funds

344,903

$ 11,496,163
1,354,243
1,704,051
3,058,294
*4,697,500

* This funding flows directly from COC/COF to the third parties, and as such it is
not recorded as a revenue or expense of the Organization.

344,938 $

2,062,433

Cost
2014

The Organization has adopted investment policies, standards and

procedures to control the amount of risk to which it is exposed.
The investment practices of the Organization are designed to
avoid undue risk of loss and impairment of assets and to provide
a reasonable expectation of fair return given the nature of the
investments. The maximum investment risk to the Organization is
equal to the fair value of the investments.

The 2014/15 funding usage and outstanding commitment are as

follows:

344,938 $

Fair Value

Investment Risks
Investment in financial instruments renders the Organization
susceptible to the potential risks arising from changes in interest
rates, in rates of exchange for foreign currency, and in equity markets both domestic and foreign. They also include the risks arising
from the failure of a party to a financial instrument to discharge
its obligation when due.

A Memorandum of Understanding (MOU) between the Organization and the Canadian Olympic Foundation (COF) for funding
exists for the period from December 18, 2014 to December 31,
2015. This MOU outlines a one-time grant in the amount of
$250,000 to support initiatives within the Organizations Innovations 4 Gold program. The full amount was recognized in the
current year.

Bankers
acceptance

Cost
2015

$ 2,407,371 $ 2,304,354

A 2014/15 contribution agreement with COC, dated September

29, 2014 (2014 - October 3, 2013) provided for up to $4,190,281
(2014 - $4,244,825) in operating and program funding on
as needed basis up to June 30, 2015. As at March 31, 2015,
$3,058,295 (2014 - $3,160,998) in COC funding was recognized.

Fair Value

Short term
Long term

*Includes up to $8,000,000 in funding for operating expenses, contingent upon

matching Sport Canadas operating support.

Total quadrennial funding usage as of March 31, 2014

Organizations operating funding
Organizations program funding
Total funding recognized as revenue during the year
Total funding directed to NSOs and CSIs during the
year
Total quadrennial funding usage as of March 31, 2015
Total outstanding commitment from COC/COF as of
March 31, 2015

Fair Value

The bonds mature at face value on a staggered basis over the

next six years. Effective interest rates to maturity for these securities range from 0.62% to 2.41%.

Annual Report 2014-2015

25

NOTES TO AUDITED FINANCIAL STATEMENTS

5. CAPITAL ASSETS

2015
Cost

Furniture and
equipment
Computer equipment
and software
Leasehold
improvements

Accumulated
Amortization

1,718

Net Book
Value

1,031

687

24,499

7,143

17,356

47,578

17,558

30,020

$ 73,795

$ 25,732

$ 48,063

Cost

Accumulated
Amortization

Net Book
Value

2014
Furniture and
equipment
Computer equipment
and software
Leasehold
improvements

60,375
95,308

50,795

69,648

9,580
25,660

47,578

10,762

36,816

$ 203,261

$ 131,205

$ 72,056

6. RETIREMENT BENIFITS

The Organization provides registered retirement saving plans to

employees based on a percentage of gross salary. The employers
contribution for the year was $98,472 (2014 - $103,888).

7. COMMITMENTS

The Organization rents its premises and office equipment under

various operating leases. The future minimum annual lease
payment and amount required under the operating leases is as
follows:
2016
2017
2018
2019
2020 and thereafter

8. CAPITAL MANAGEMENT

113,120
98,575
97,497
92,107
38,378
$ 439,677

The Organizations capital consists of net assets. The

Organizations objectives when managing capital are to fund
working capital needs and to safeguard its ability to continue as
a not-for-profit organization in an effort to carry out its mission.
The Organizations capital management framework is designed
to ensure there is sufficient short- and long-term flexibility. A
key objective is to maintain a financial structure that covers the
equivalent of one year of operating expenses. There have been
no changes to the management of capital over the previous year.

26

Annual Report 2014-2015

9. OTHER REVENUE

During the year $127,900 (2014 - $NIL) of in-kind contributions

were recognized as other revenue for Sports Science, Medicine
and Innovation expenses. Also included in other revenue was
$250,000 (2014 - $NIL) of funding from the Canadian Olympic
Foundation for the Innovations 4 Gold program.

10. COMPARATIVE FIGURES

Certain comparative figures have been reclassified to conform to

the current years presentation.

SUPPORTED NATIONAL ORGANIZATIONS

Alpine Canada
Alpin

Archery Canada

Athletics Canada

Basketball Canada

Biathlon Canada

Bobsleigh Canada
Skeleton

Boccia Canada

Boxing Canada

Curling Canada

Canadian
Freestyle Ski
Association

Canadian Luge
Association

Canada
Snowboard

Canadian Soccer
Association

Canadian
Weightlifting
Federation

Canadian
Wheelchair Sports
Association

Canoe Kayak
Canada

Cross Country
Canada

Cycling Canada

Diving Canada

Equine Canada

Field Hockey
Canada

Gymnastics
Canada

Hockey Canada

Judo Canada

Rowing Canada
Aviron

Rugby Canada

Sail Canada

Skate Canada

Speed Skating
Canada

Swimming Canada

Synchro Canada

Taekwondo
Canada

Tennis Canada

Triathlon Canada

Volleyball Canada

Water Polo
Canada

Wheelchair
Basketball Canada

Wrestling Canada

Annual Report 2014-2015

27

Calgary

85 Canada Olympic Road SW

Calgary, Alberta T3B 5R5
T: 403-202-6300
www.anouslepodium.org