Toronto International Film Festival
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
D+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
64%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 64 cents are available for programs.
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OVERVIEW
About Toronto International Film Festival:
Toronto International Film Festival is a 1-star charity. It is not financially transparent, has a low results reporting grade and has high overhead costs outside of Ci's reasonable range. Before you give, read Charity Intelligence's report.
Founded in 1976, TIFF (Toronto International Film Festival) offers screenings, lectures, discussions, festivals, workshops, events, professional development, and opportunities to meet filmmakers from Canada and around the world. TIFF aims to transform the way people view the world through film. Outside of TIFF Lightbox film, which has daily movie showings, the charity runs festivals, learning programs, and community initiatives.
In F2021, TIFF ran two film festivals: the Toronto International Film Festival and TIFF Next Wave. The Toronto International Film Festival was the charity’s largest festival of the year, featuring 132 films and 45 short films. Next Wave welcomed 2,025 people under the age of 25 to watch old movies and engage in programming, giving a look into the behind-the-scenes of filmmaking.
The charity also runs one talent program called the Filmmaker Lab. Each year, 20 Canadian and international directors receive professional development experience and an introduction to the global filmmaking community.
Through community initiatives, TIFF aims to ensure that people of all ages are given the opportunity to engage in creative expression through film. TIFF collaborates with non-profit community organizations to create experiences that fit the specific needs, interests, and abilities of different groups. In F2021, the charity gave 1,462 tickets to 38 community partners across the GTA.
This is Charity Intelligence's most recent profile update on Toronto International Film Festival. Charity Intelligence contacted TIFF for its most recent information in 2023, but it has not been provided. Information in this report reflects the F2021 financial statements and annual report.
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Results and Impact
Ci could not find any publicly available quantifiable outcomes for Toronto International Film Festival. The charity is not yet rated on impact (n/r).
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Finances
Toronto International Film Festival is not financially transparent. This financial review is based on audited statements provided by the CRA.
In F2022, TIFF received donations of $11.0m. Fees for services contributed 16% of total revenues, at $4.6m in F2022. Its administrative costs are 19% of revenues, and fundraising costs are 17% of donations. This results in total overhead spending of 36%. For every dollar donated to the charity, 64 cents go to the cause. This is just outside Ci’s reasonable range for overhead costs.
The charity’s reserve funds are ($5.8m) due to the outstanding long-term construction loans of $23.2m issued by the Ontario government. Excluding the debt, TIFF could cover 110% or 13 months of its program costs with current reserves.
This charity report is an update that has been sent to Toronto International Film Festival. Changes and edits may be forthcoming.
Updated on June 28, 2023 by Krystie Nguyen.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 19.1% | 24.4% | 16.0% |
| Fundraising costs as % of donations | 17.1% | 19.9% | 21.8% |
| Total overhead spending | 36.2% | 44.3% | 37.8% |
| Program cost coverage (%) | (86.3%) | (122.3%) | (63.3%) |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 11,020 | 11,415 | 19,054 |
| Government funding | 12,849 | 9,931 | 4,317 |
| Fees for service | 4,597 | 3,925 | 17,350 |
| Business activities (net) | 454 | 642 | 4,097 |
| Investment income | 693 | 348 | 505 |
| Total revenues | 29,612 | 26,261 | 45,324 |
| Program costs | 15,902 | 14,232 | 28,669 |
| Administrative costs | 5,524 | 6,325 | 7,149 |
| Fundraising costs | 1,880 | 2,276 | 4,157 |
| Other costs | 884 | 921 | 1,167 |
| Total spending | 24,191 | 23,753 | 41,142 |
| Cash flow from operations | 5,421 | 2,508 | 4,182 |
| Capital spending | 117 | 670 | 597 |
| Funding reserves | (5,800) | (10,182) | (11,215) |
Note: Ci backed out administrative and fundraising costs from operational expenses based on the amounts that the charity reported in its T3010 filings with the CRA.
Salary Information
$350k + |
2 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
3 |
$120k - $160k |
4 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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