Banff Centre for Arts and Creativity

107 Tunnel Mountain Drive, PO Box 1020
Banff, AB T1L 1H5
President & CEO: Janice Price
Board Chair: David Weyant

Charitable Reg. #: 11921 4955 RR0001
Sector: Arts & Culture
Operating Charity

Results Reporting

Grade: B+

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

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #399

Avg. Compensation $67,219

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 3
$160k - $200k 3
$120k - $160k 3
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Banff Centre for Arts and Creativity:

The Banff Centre was founded in 1933 with the mission to inspire creativity. Its vision is to advance Canada’s role in creativity and knowledge through the arts. It works with artists, leaders and researchers to develop creative thinkers and uncover new solutions. The Banff Centre promotes Arts and Culture by providing artists with advanced education and hosting world class festivals. The Centre also provides leadership programs aimed at developing leaders that will strive to advance their communities. In particular, it focuses on developing Indigenous Leaders from diverse Indigenous communities.

In F2015, The Banff Centre held over 400 events and programs on its site, attended by over 80,000 audience members. It also hosted over 500 conferences, attended by 20,000 participants. In F2015, the Centre worked with 3,000 artists, 2,400 researchers and 1,700 leaders.  Of its artists, 70% were Canadian, with the other artists coming from 16 different countries.

In F2015, The Banff Centre reported that 90% of its alumni work professionally in their fields. Further, 81% had secured a position, role or exhibition within a year of taking a Banff Centre program. Finally, 78% earned their living from artistic practice, and serve as mentors and teachers within their community. These outcomes demonstrate the Centre’s role in developing artists who are contributing members within their field. 

Financial Review:

The Banff Centre is a big charity, with donations of $7m in F2015. Its administrative costs were 36% of revenues in F2015, falling from its high of 40% in F2014. Banff Centre did not report its fundraising costs in its audited financial statements. Using the T3010 CRA filing, its fundraising costs were 12% of donations in F2015, significantly lower than F2014 at 23%. For every $1 donated to the Banff Centre, 52 cents goes towards its programs. The Banff Centre has funding reserves of $54.6m, and does not report the amount of donor-endowed funds in its reserves. This results in a program cost coverage ratio of 180%, meaning that the charity can continue its programs for another 1.8 years using its existing funds.

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

Updated on May 17, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 36.2%40.0%31.6%
Fundraising costs as % of donations 12.0%22.6%11.8%
Program cost coverage (%) 179.5%139.1%114.3%

Summary Financial Statements

All figures in $000s
Donations 15,3646,96714,867
Government funding 20,10820,36219,816
Fees for service 2,9333,7634,173
Business activities (net) 26,94124,77024,389
Investment income 936817370
Total revenues 66,28256,67963,615
Program costs 19,36819,01819,473
Grants 11,02910,47010,228
Administrative costs 23,65922,34819,969
Fundraising costs 1,8411,5731,750
Cash flow from operations 10,3853,27012,195
Funding reserves 54,56441,00733,945
Note: Ci used the charity’s T3010 CRA filing to get fundraising expenses as fundraising costs were not reported on its audited financial statements. Ci has adjusted deferred capital contributions, deferred grants and contributions, unearned revenue and deposits and endowment contributions and transfers affecting revenues by $4.1m in F2015, by ($3.1m) in F2014, and by $5.7m in F2013. Ci has adjusted amortization of capital assets affecting expenses by ($5.9m) in F2015, by ($5.9m) in F2014, and by ($5.2m) in F2013.

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