Banff Centre
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
B
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.
58%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 58 cents are available for programs.
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OVERVIEW
About Banff Centre:
Banff Centre is a 3-star charity. It has a B results reporting grade, which is average. Its overhead spending is outside Ci’s reasonable range and it has reserve funds to cover six months of its annual program costs.
Founded in 1933, Banff Centre aims to bring artists, leaders, and communities together. Its vision is to be a catalyst for creativity and thought. The Centre is in Banff National Park. Banff Centre is a post-secondary institution and a venue for events, summits, and festivals. It has two main programs: Education and Events. The charity does not provide a spending breakdown by program.
Education: As a post-secondary institution, Banff Centre provides educational and training programs in artistic disciplines, leadership development, mountain culture, and the environment. In the fiscal year ending March 2024 (F2024), Banff Centre reports that it offered 50 Arts and Leadership programs. In F2024, Banff Centre had 890 enrolled students. 78% of students were from Canada and 22% were international students. In F2024, Banff Centre hosted over 50 public events tied to artistic programs.
Events: In F2024, over 32,000 people attended events, festivals, performances, and exhibitions at Banff Centre. This included over 11,000 attendees at free shows and events, and over 4,000 visitors to the Walter Philips Gallery. Banff Centre is home to the Banff International String Quartet Festival and Competition. In F2024, the festival sold 1,750 tickets. Eight concerts took place during the festival. In F2024, the Banff Centre Mountain Film and Book Festival and World Tour (Mountain Fest) held over 60 on-campus events. Banff Centre reports that Mountain Fest hosted around 1,000 screenings in 45 countries as part of its World Tour. Banff Centre hosted over 275 conferences in F2024.
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Results and Impact
Banff Centre reported that in F2023, it conducted an annual alumni survey. The survey found that 78% of respondents agreed that attending a Banff Centre program contributed to their career development and that they have been paid to work within the discipline of their Banff Centre program
In F2024, Banff Centre reported that over 90% of Mountain Fest attendees expressed their intent to return or recommend the event.
While Ci highlights these key outcomes, they may not be a complete representation of Banff Centre’s results and impact.
Banff Centre is not yet rated on impact (n/r).
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Finances
In F2023, Banff Centre received $4.7m in donations. It also received $18.5m in government funding (41% of total revenue). The charity received $1.4m from fees for service (3% of total revenue) and $16.1m from business activities (36% of total revenue). Administrative costs are 11% of total revenue (excluding investment income) and fundraising costs are 30% of donations. Overhead spending is 42%, which is outside Ci’s reasonable range. For every dollar donated, 58 cents are available for the cause. In F2023, Banff Centre spent $35.9m on its programs and grants (80% of total revenue).
In F2023, Banff Centre had a surplus of $3.0m and spent $489k on capital expenditures.
At the end of F2023, Banff Centre had $62.7m in reserve funds (cash and investments). $46.5m of the charity’s reserve funds are donor endowed. Excluding donor-endowed funds, Banff Centre has enough to cover 48% or around six months of its annual program costs.
This charity profile is an update that has been sent to Banff Centre for review. Changes and edits may be forthcoming.
Updated on August 12th, 2024 by Thea Clark.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 11.4% | 12.5% | 14.1% |
| Fundraising costs as % of donations | 30.1% | 18.9% | 23.6% |
| Total overhead spending | 41.5% | 31.4% | 37.8% |
| Program cost coverage (%) | 48.1% | 72.1% | 90.7% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 4,715 | 4,584 | 3,424 |
| Government funding | 18,491 | 20,351 | 21,784 |
| Fees for service | 1,351 | 954 | 239 |
| Business activities (net) | 16,085 | 3,785 | 2,181 |
| Investment income | 3,518 | 3,392 | 2,729 |
| Other income | 934 | 3,731 | 776 |
| Total revenues | 45,094 | 36,797 | 31,133 |
| Program costs | 35,924 | 26,426 | 24,167 |
| Administrative costs | 4,750 | 4,160 | 4,013 |
| Fundraising costs | 1,419 | 867 | 809 |
| Total spending | 42,093 | 31,453 | 28,989 |
| Cash flow from operations | 3,001 | 5,344 | 2,144 |
| Capital spending | 489 | 5,323 | 8,834 |
| Funding reserves | 62,717 | 63,266 | 64,979 |
Note: T3010: The charity does not allocate expenses by activity in its audited financial statements. Ci used the charity’s T3010 filing with the CRA to determine program, administrative, and fundraising costs. AMORTIZATION: Ci removed amortization on a pro-rata basis from program, administrative, and fundraising costs. AMORTIZATION OF DEFERRED CAPITAL CONTRIBUTIONS: Ci removed amortization of deferred expended capital contributions from revenue and added deferred capital contributions received, affecting total revenue by ($626k) in F2023, $693k in F2022, and $4.5m in F2021. DEFERRED REVENUE: Ci adjusted for deferred revenue, affecting total revenue by ($2.4m) in F2023, ($1.2m) in F2022, and ($863k) in F2021. ENDOWMENT CONTRIBUTIONS AND TRANSFERS: Ci included endowment contributions and transfers in other revenue, affecting total revenue by $662k in F2023, $784k in F2022, and $1.6m in F2021.
Salary Information
$350k + |
1 |
$300k - $350k |
2 |
$250k - $300k |
0 |
$200k - $250k |
3 |
$160k - $200k |
4 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 403-762-6100