Calgary Philharmonic Orchestra
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.
C-
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.
57%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 57 cents are available for programs.
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OVERVIEW
About Calgary Philharmonic Orchestra:
Calgary Philharmonic Society, better known as Calgary Philharmonic Orchestra, is a 2-star charity. It has a C- results reporting score, which is below average. Its overhead spending is outside Ci's reasonable range, and its reserve funds can cover program costs for 2 years and 1 month.
Founded in 1955 when the Alberta Philharmonic and Calgary Symphony merged, Calgary Philharmonic Orchestra (CPO) is a live music ensemble. Through live orchestral music, CPO aims to bring people together and inspire them. CPO states that it is one of two major symphony orchestras in Canada with its own volunteer chorus. It is also a member of the National Alliance for Audition Support (NAAS). NAAS aims to increase diversity in North American orchestras. CPO has two main programs: Orchestra, and Education and Community Access.
In the fiscal year ending June 2023 (F2023), the Orchestra performed 77 concerts. Concerts featured 27 guest conductors and 77 guest artists and groups. In F2023, CPO sold 77,105 tickets. 63% of audience members were first-time patrons. 21% of audience members identified as Indigenous, Black, South Asian, East Asian, Arab, or mixed ethnicity. 18% of audience members were from outside of Calgary.
Education and Community Access: In F2023, 5,650 students attended Education Concerts. Education Concerts aim to teach and inspire students. 1,097 students experienced a live orchestra for the first time at an Education Concert. PhilKids offers students ages 6-11 free lessons from orchestra musicians. In F2023, 100 students received free music lessons twice a week through PhilKids. In F2023, Calgary Philharmonic Orchestra also donated tickets through Community Access programs. CPO donated 390 tickets to local charities through the Heartstrings program. It donated 2,010 tickets to newcomers to Canada through the Canoo program. CPO donated 146 tickets to Ukranian refugees and volunteers. It donated 738 tickets to the Military Family Resource Centre and first responders.
Calgary Philharmonic Orchestra has an associated foundation. The foundation supports the long-term operations of the CPO. The foundation’s fund is one of the largest endowments held by a Canadian orchestra.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Calgary Philharmonic Orchestra’s website. This may not be a complete representation of CPO’s results and impact.
Calgary Philharmonic Orchestra is not yet rated on impact (n/r).
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Finances
Ci has consolidated the audited financial statements of Calgary Philharmonic Society and Calgary Philharmonic Foundation.
In F2023, Calgary Philharmonic Orchestra received $2.5m in Canadian donations. It made $3.8m (29% of total revenue) from ticket sales and other sold services. It also received $4.0m in government funding (31% of total revenue). The charity made $2.4m in investment income (19% of total revenue) in F2023. Administrative costs are 13% of total revenue (excluding investment income) and fundraising costs are 29% of donations. Overhead spending is 43% which is outside Ci’s reasonable range. For every dollar donated, 57 cents are available for the cause.
In F2023, CPO had a surplus of $480k and spent $24k on capital expenditures.
At the end of F2023, CPO has $44.9m in reserve funds. The federal government has agreed to match donor-endowed donations to CPO. CPO has received $12.8m in donor-endowed donations. Including funds from federal government matching, $25.6m of reserve funds are donor-endowed (57% of funding reserves). Excluding donor-endowed funds, CPO has reserve funds to cover 211% or 2 years and 1 month of its annual program costs.
In October 2020, Calgary Philharmonic Orchestra launched the Ad Astra capital campaign. Its goal is to grow the endowment established by the CPO Foundation. The CPO foundation endowment was $38m in October 2020 when the campaign was launched. The goal is to reach $61m by 2025.
This charity report is an update that was sent for review to Calgary Philharmonic Orchestra. Changes and edits may be forthcoming.
Profile created on June 10, 2024 by Thea Clark
Financial Review
Fiscal year ending June
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 13.2% | 13.2% | 8.5% |
| Fundraising costs as % of donations | 29.3% | 30.0% | 16.4% |
| Total overhead spending | 42.5% | 43.2% | 24.9% |
| Program cost coverage (%) | 211.1% | 235.3% | 396.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 2,497 | 2,170 | 3,218 |
| Goods in kind | 5 | 251 | 5 |
| Government funding | 4,035 | 5,145 | 7,245 |
| Fees for service | 3,847 | 1,586 | 6 |
| Investment income | 2,410 | 3,138 | 2,689 |
| Other income | 260 | 163 | (13) |
| Total revenues | 13,054 | 12,453 | 13,151 |
| Program costs | 10,430 | 8,864 | 7,220 |
| Donated goods exp | 5 | 251 | 5 |
| Administrative costs | 1,408 | 1,233 | 884 |
| Fundraising costs | 731 | 650 | 528 |
| Total spending | 12,574 | 10,998 | 8,637 |
| Cash flow from operations | 480 | 1,455 | 4,514 |
| Capital spending | 24 | 22 | 53 |
| Funding reserves | 44,907 | 42,231 | 47,151 |
Note: CONSOLIDATION WITH FOUNDATION: Ci has consolidated the audited financial statements of Calgary Philharmonic Society and Calgary Philharmonic Foundation. DEFERRED ADJUSTMENT: The charity uses deferred accounting. To show donors this information on a consistent basis, Ci adjusts for these deferred revenues. This affected revenue by $948k in F2023, ($1.0m) in F2022, and ($83k) in F2021. Ci accounted for additions to deferred capital contributions, which increased revenues by $4k in F2023, $nil in F2022, and $18k in F2021. LINE-ITEM COSTING: The charity uses line-item costing without allocating expenses by activity. Ci referred to the charity’s T3010 filing with the CRA for program, administrative, and fundraising expenses in F2023, F2022, and F2021. AMORTIZATION: Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis. Ci backed out amortization of deferred capital contributions from investment income, increasing investment income by $12k in F2023, $80k in F2022, and $80k in F2021. FOREIGN EXCHANGE: Ci included gains (losses) on foreign exchange in investment income, affecting total revenues by $38k in F2023, $50k in F2022, and ($73k) in F2021. LIFE INSURANCE: Ci included decrease in cash surrender value of life insurance in other revenue, affecting revenue by ($1k) in F2023, $nil in F2022, and $nil in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
3 |
$80k - $120k |
3 |
$40k - $80k |
3 |
< $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
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Tel: (403) 571-0849