Toronto Symphony Orchestra

212 King Street West, 6th Floor
Toronto, ON M5H 1K5
President & CEO: Andrew R. Shaw 
Board Chair: M. George Lewis

Website: www.tso.ca
Charitable Reg. #: 10525 5335 RR0001
Sector: Arts & Culture
Operating Charity

Social Results Reporting

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 upon request [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #75

Avg. Compensation $54,961

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 2
$160k - $200k 2
$120k - $160k 1
$80k - $120k 5
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2012

About Toronto Symphony Orchestra:

Founded in 1922, the Toronto Symphony Orchestra (TSO) is one of Canada's leading cultural institutions that provides orchestral performances and serves the musical needs within the Toronto community. Every year more than 225,000 patrons and over 50,000 students visit the Orchestra, and over 5 million Canadians tune in to concert broadcasts on CBC Radio. TSO celebrated its 90th season in F2012.

Apart from producing performances and touring, TSO offers a variety of programs to supplement and enhance the music education of students and youth. TSO also offers community programs named Young People's Concerts and Toronto Symphony Youth Orchestra (TSYO). TSYO is a unique programme that encourages high achievement for young people aged 22 and under. In F2012, TSO presented 130 performances with 45 Canadian artists, including 28 TSO debut artists. Through its education programs for youth TSO offered curriculum-based education programs to 79,000 students. 50 schools throughout the Greater Toronto Area worked with TSO in their classrooms.

Financial Review:

Ci has consolidated TSO audited financial statements with TSO Foundation statements. In F2012, TSO's administrative costs were 10% of revenues and its fundraising costs were 37% of donations. TSO had $22.9m in funding reserves (with $24.6m in donor-endowed funds) covering annual program costs 1.1 times.

Financial Ratios

Fiscal year ending June
201220112010
Administrative costs as % of revenues 10.3%9.4%9.7%
Fundraising costs as % of donations 37.2%29.9%24.0%
Program cost coverage (%) 108.8%117.6%117.1%

Summary Financial Statements

All figures in $000s
201220112010
Donations 5,0405,9157,283
Government funding 5,8665,8085,250
Fees for service 10,63510,7519,883
Special events 7692750
Investment income 2,3462,6554,558
Other income 543350699
Total revenues 25,19825,75527,674
Program costs 21,00020,39019,221
Administrative costs 2,3612,1632,251
Fundraising costs 2,1621,8501,749
Other costs 1088349
Cash flow from operations (434)1,2694,404
Funding reserves 22,85423,98822,504
Note: Ci has consolidated TSO’s audited financial statements with Toronto Symphony Foundation’s financial statements affecting revenues, expenses and funding reserves. Ci has adjusted amortization of capital assets affecting administrative costs by ($119k) in F2012, by ($108k) in F2011 and by ($100k) in F2010.

Comments added by the Charity:

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