Stratford Festival

P.O. Box 520
Stratford, ON N5A 6V2
Executive Director: Anita Gaffney
Board Chair: Daniel Bernstein

Website: www.stratfordfestival.ca
Charitable Reg. #: 11920 0103 RR0002

Sector: Arts & Culture

Operating Charity

Charity Rating

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Donor Accountability

Grade: C-

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

♦	♦	♦
			95¢



			75¢
			avg
			65¢


			50¢

2013	2014	2015

For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #159

Avg. Compensation $67,435

Top 10 Staff Salary Range

$350k +	1
$300k - $350k	1
$250k - $300k	0
$200k - $250k	1
$160k - $200k	3
$120k - $160k	4
$80k - $120k	0
$40k - $80k	0
< $40k	0

Information from most recent CRA Charities Directorate filings for F2014

About Stratford Festival:

In 1953, the Stratford Shakespearean Festival (SSF) began with two productions staged in a tent. It now features fourteen productions in five venues ranging in size from the 1,826-seat Festival Theatre down to the 72-seat Studio Theatre Annex. SSF’s mission is to produce Shakespeare’s plays, to examine other classical plays, and to support the development of theatre practitioners. Musical theatre, Shakespearean comedy, history, and tragedy are some of the genres of plays produced by SSF.

Throughout the seasons, countless famous actors have appeared at SSF. Julie Harris, William Petersen, Christopher Plummer, Sarah Polley, William Shatner, Peter Ustinov, and Christopher Walken are a just few of these actors.

SSF offers numerous educational activities, including acting apprenticeships, and assistant designer and director programs that enable artists to work with, and learn from, seasoned professionals. At Shakespeare School, for a fee, students in grades 5 to 12 may attend a 1-3 week class. Older students may enrol in credit courses offered jointly with five universities. Public activities (some at no cost to participants) include Q&As with actors and talks by english or drama scholars.

Financial Review:

The Stratford Festival is a large charity, with donations of $16m in F2015. The majority of its revenues are generated from performances (at $30.7m in F2015), representing 48% of total revenues. Its administrative costs at 8% of revenues and fundraising costs at 10% of donations fall within Ci’s reasonable range. For every $1 donated to Stratford Festival, 82 cents is put towards its programs. Stratford Festival has funding reserves of $83m, resulting in a program cost coverage ratio of 161%. This means that the charity can fund its programs for 1.6 years using its current reserves.

This charity report is an update that is being reviewed by Stratford Festival. Changes and edits may be forthcoming.

Updated on May 26, 2016 by Lynn Tay.

Financial Ratios Fiscal year ending December	2015	2014	2013
Administrative costs as % of revenues	7.6%	7.6%	6.8%
Fundraising costs as % of donations	10.3%	9.0%	12.9%
Program cost coverage (%)	161.1%	160.2%	145.1%

Summary Financial Statements All figures in $000s	2015	2014	2013
Donations	16,020	17,457	12,722
Government funding	3,636	3,871	5,013
Fees for service	39,984	35,657	37,673
Investment income	3,720	7,498	7,448
Total revenues	63,360	64,483	62,855
Program costs	51,284	48,527	47,830
Grants	425	483	403
Administrative costs	4,517	4,355	3,746
Fundraising costs	1,656	1,571	1,638
Cash flow from operations	5,478	9,547	9,238
Funding reserves	83,294	78,504	69,977

Note: Ci has consolidated the financial statements for The Stratford Shakespearean Festival of Canada and the Stratford Shakespearean Festival Endowment Foundation. Ci has adjusted amortization of deferred capital contributions and grant from the Foundation to the Festival affecting revenues by ($4m) in F2015, by ($3.8m) in F2014, and by ($2m) in F2013. Ci has adjusted amortization of capital assets and grant from the Foundation to the Festival affecting expenses by ($5m) in F2015, by ($4.8m) in F2014, and by ($3.1m) in F2013.

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