The non-profit foundation established by Langley, B.C. Mayor Eric Woodward has reported a mere $8,117 in donations over its first five years, a figure that starkly contrasts with earlier promises of significant charitable contributions. This revelation comes after a lengthy process to access the foundation's financial statements, raising questions about its operations and the mayor's pledges.
Key Takeaways
- The Eric Woodward Foundation (EWF) reported only $8,117 in donations between 2019 and 2023.
- Previous commitments totaling nearly $1.4 million were reportedly made by Woodward's for-profit company, not the EWF.
- Significant foundation expenditures were allocated to events, despite claims they were no longer managed by the EWF.
- Financial statements were released late, over six years after the foundation's incorporation, contrary to provincial regulations.
Foundation's Financials Under a Microscope
Mayor Eric Woodward, a real estate developer, announced the formation of the Eric Woodward Foundation (EWF) in 2018, pledging to transfer $55 million worth of property and direct all profits from its development and rental to local charities. However, newly released financial documents covering 2019 to 2023 show a total of just over $8,000 listed under "donations" in 2023. This minimal figure has drawn criticism from former local councillor Angie Quaale, who questioned the discrepancy between the promises made and the reported financial activity.
Discrepancies in Charitable Contributions
While the EWF's financial statements show meager donation figures, previous announcements between 2018 and 2021 indicated charitable commitments of almost $1.4 million. Organizations like the Langley Community Health and Hospital Foundation and the Langley Hospice Society had reported receiving contributions from the EWF. However, Woodward stated that these donations were actually made through his for-profit company, Fort Langley Properties, to leverage tax receipts. He has been reluctant to provide details on donations made since 2021.
Event Spending and Liabilities
Further scrutiny has fallen on the EWF's spending, with over $80,000 allocated to events in 2023. This is despite Woodward's earlier assertions that the foundation had ceased managing events like the Cranberry Festival and summer night markets after his election as mayor in 2022. He later clarified on Reddit that these expenses were primarily for the Fort Langley Night Market up to 2024. In total, the foundation listed nearly $325,000 in event expenses over five years, constituting about 69% of its total expenditures. The foundation's sole revenue source is listed as "sales" exceeding $463,000. Additionally, annual liabilities of up to $40,000, noted as "due to director," have raised questions, with Woodward explaining they represent funds he provided to cover event operational costs due to unprofitability and a desire to limit corporate sponsorship.
