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AIESEC INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS AS AT MAY 31, 2020
12. Memberbership fees
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The memberbship fees consist of the following:
8)
13. Government assistance
The Organization applied for the CEWS program which helps organizations by subsidizing a portion of the employees' wages during the COVID-19 pandemic. Management has determined that the Organization met the following criteria to be eligible for this program: w Remained in operations w Continued paying salaries and other remunerations to eligible employees w Experienced a decrease in gross revenues
Under the CEWS program, the Organization applied and accrued wage subsidies of approximately $130,000 during this fiscal year.
14. Contractual obligation
The minimum rentals payable under long-term operating leases for which the Organization is reponsible are approximately as follows:
