CAFA Finance Report - Inception to July 31, 2001

Statement of Revenue and Expenses


Sponsorship 4

Membership fees


Competition fees


Fundraising (net)


Bank Interest received




Team Canada expenses 5 5,096

Legal 6 1,081

Competition expenses


AIDA fees

Bank charges


Net excess of revenue over expenditure 2,007

Member's equity - beginning of period 0

Member's equity July 31, 2001 2,007

Notes to the Financial Statements

1. Incorporation

Canadian Association of Freediving and Apnea (CAFA) was incorprated on June 30, 2000 as a non-profit organization.

2. Accounting Principals

These financial statements have been prepared by the executive using the cash method of accounting. No review or audit of these statements has been completed.

3. Deposits Received

These deposits represent deposits received from competitive freedivers to secure their positions on Team Canada for the World Championships in Spain in October 2001. These deposits will go towards paying entry fees into the competition and associated expenses.

4. Sponsorship

Sponsorship represents cash contributions from sponsors towards expenses incurred in competing in the AIDA World Cup in France in October 2000. It does not represent sponsors who contributed equipment to the Team or sponsprships that team members may have received individually. It also includes one sponsorship for the World Championship in Spain in October 2001. These funds were used to pay expenses incurred by Team Canada, or distributed directly to the Team members.

Consists of:

Royal Canadian Legion$1,000
Cayman Turtle Farm$1,500
Individual Sponsors$1,500
Miscellaneous Spain sponsor$400

5. Team Canada Expenses

These expenses relate to expenses incurred by Team Canada primarily for the AIDA World Cup competition in France in October 2000. It also includes $400 for expenses relating to the AIDA World Championships in Spain

6. Legal

This expense represents the legal fees for incorporation and setting up of CAFA.


Updated 29 September 2001