GMDC assets, revenue down but investments up slightly

  • Dec. 12, 2011 9:00 a.m.

The Greater Massett Development Corporation’s assets were down in 2010 compared to 2009, from $6.3 to $5.8 million, mostly due to writing down the value of buildings and equipment. Revenue during 2010 was down significantly, from $719,000 to $419,000, due to fluctuations in stock value. GMDC owned $4,379,569 worth of marketable securities, and valued its buildings and equipment at $1,380,195 as of Dec. 31, 2010. It also has a $3,000,000 greenfield fund, which is set aside to return the former CFS Masset site to a ‘greenfield’ state. “The corporation’s current position improved modestly due to an improvement in the value of the investment portfolio at year end. The fair market value of the investments increased from $4,238,467 to $4,379,569 at Dec. 31, 2010,” according toe GMDC’s accountant, Carlyle Shepherd & Co. The accountant also notes that GMDC operated in the black, with $132,521 more income than it spent. “..therefore, revenues were sufficient to meet the expense of operations,” the accountant said.

Just Posted

New exhibit at Haida Gwaii Heritage Centre, Kay Llnagaay

Ubiquitous Cocoons: My metamorphosing life by Kathy Pick will be running until Sept. 1, 2019

Steve Nash Youth Basketball wraps up in Massett

RCMP coordinated the 12-week program for children between the ages of eight and 10

Smithers man receives two-year sentence for fatal car crash

Over a year after a fatal crash, a Smithers man has been sentenced to two years plus a day in jail.

Backyard burning still prohibited on Haida Gwaii, fire chief warns

Village of Queen Charlotte fire chief Larry Duke is reminding the public… Continue reading

COLUMN: The removal of the Pigeon Guillemot ‘colony’

Birds lost their place after the removal of the old wharf at Shingle Bay in Sandspit

10 facts about Father’s Day

Did you know that the special day for dads was first celebrated in 1910?

B.C. VIEWS: When farmland protection doesn’t protect farmers

Secondary residences aren’t mansions, families tell Lana Popham

Bombers down B.C. Lions 33-23 in season opener

Former Lion Andrew Harris leads Winnipeg with 148 rushing yards

Northern B.C. family remembers murdered Indigenous woman with memorial walk

Still no closure for Ramona Wilson’s family 25 years later

B.C. university to offer mentorship program for former youth in care

Students using the provincial tuition waiver program will soon be able to form a community at KPU

Cyclists competing in one of the toughest bike races on the planet pass through Fernie

Divide riders looking strong as they finish first leg of 4160 km race

You might not know these B.C. records are public

Hired a lawyer to file a civil claim? Those are published online

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

B.C. Interior First Nation family ‘heartbroken’ over loss of young mom

RCMP have released no new information since the June 8, 2019 homicide

Most Read