DARE TO DREAM FOUNDATION

The charity was not active during the fiscal period because the overall business environment and conditions were challenging for many corporate donors due to high inflation interest rate hike economic slowdown and etc. The charity mainly received funds or generated income through gifts from corporations/businesses and use of assets; therefore it was negatively affected. Its ongoing programs remain unchanged. It will receive funds or generate income through gifts from corporations and businesses and use of assets (such as investment income).The donations received by the charity will be invested with a licensed investment management service provider to earn passive investment income. The fees payable to the investment management service provider for its services would be at or below market rates. After satisfying its expenditures the trustees shall from time to time make distributions of capital and/or income from the charity to one or more qualified donees under the Income Tax Act (Canada). In exercising their discretion the trustees shall have regard to all legislative obligations imposed on them including any requirement to disburse amounts of income and/or capital pursuant to the Income Tax Act (Canada).