Vancouver Symphony Society

500-833 Seymour ST.
Vancouver, BC V6B 0G4
President & CEO: Jeff Alexander
Board Chair: Fred Withers

Charitable Reg. #: 11928 2283 RR0001
Sector: Arts & Culture
Operating Charity

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 available only through official request for information from Canada Revenue Agency [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #31

Avg. Compensation $62,682

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 4
$40k - $80k 5
< $40k 0
Information from most recent CRA Charities Directorate filings for F2012

About Vancouver Symphony Society:

Founded in 1919, The Vancouver Symphony Society operates as Vancouver Symphony Orchestra (VSO). VSO’s mission is to enrich the quality of life and to bring prestige to Vancouver, British Columbia and Canada through the presentation of high-quality performances of classical and popular music, and the delivery of education and community programs.

In F2012, VSO performed over 140 concerts with a total attendance of 200,000. VSO opened its VSO School of Music in 2011. Through its educational and community programs, VSO reached over 50,000 children with a mission to develop and offer symphonic music education programs incorporating the latest technologies that integrate into the existing BC Ministry of Education curriculum, as well as provide lifelong learning for all ages. VSO has partnerships with educational and community organizations, through which it supports the growth of music and advocates for music education in schools and community music organizations.

Financial Review:

Ci has consolidated the audited financial statements of Vancouver Symphony Society with those of Vancouver Symphony Foundation. In F2012, VSO received 33% of its funding from donations, 31% from government funding, and 34% from fees for service and ticket sales. Its administrative costs were 9% of revenues and its fundraising costs were 22% of donations raised. It has $9.8m in funding reserves (including $3.8m in endowment funds) covering 87% of annual program costs.

Financial Ratios

Fiscal year ending June
Administrative costs as % of revenues 8.5%9.0%9.4%
Fundraising costs as % of donations 21.6%20.0%22.9%
Program cost coverage (%) 86.8%84.5%74.3%

Summary Financial Statements

All figures in $000s
Donations 4,5374,5274,350
Government funding 4,1964,4244,231
Fees for service 4,5764,7595,323
Investment income 322287150
Other income 435152
Total revenues 13,67514,04814,106
Program costs 11,32711,10910,837
Administrative costs 1,1331,2441,311
Fundraising costs 982917994
Cash flow from operations 232778965
Funding reserves 9,8329,3838,050
Note: Ci has consolidated audited financial statements of Vancouver Symphony Society with statements of the Vancouver Symphony Foundation. Ci has adjusted unrealized loss (gains) of the foundation affecting revenues by $4k in F2012, by ($595k) in F2011 and by ($193k) in F2010. Ci has excluded inter-fund transfer of revenues from the foundation to Vancouver Symphony Society affecting revenues and expenses by ($284k) in F2012, by ($254k) in F2011 and by ($243k) in F2010.

Comments added by the Charity:

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