Regent Park School of Music

585 Dundas Street East, Suite 220
Toronto, ON M5A 2B7
Executive Director: Jane O'Hare
Board Chair: Michelle Roth

Website: www.rpmusic.org
Charitable Reg. #: 87211 6025 RR0001
Sector: Social Services - At-Risk Youth
Operating Charity

Social 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 available only upon request [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #4

Avg. Compensation $162,708

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 1
$40k - $80k 0
< $40k 3
Information from most recent CRA Charities Directorate filings for F2014

About Regent Park School of Music:

Founded in 1999, the Regent Park School of Music (RPSM) provides nearly free music lessons to kids who can't afford it. For children and youth aged between 3-18, RPSM provides a safe, caring environment for children to take group and private music lessons. Through engaging with music, RPSM's lessons are a tool teaching dedication, focus and collaboration. Evidence-based research shows that music lessons increase math scores, reading and other school marks.

In 2014, RPSM provided music lessons to 1,750 children in Regent Park, Jane & Finch, Parkdale and 5 other high priority neighbourhoods. This is approximately 50% more children served than the 1,100 in 2013. RPSM provides weekly programs throughout the school year and summer music programs. In 2014, RPSM brought music lessons to 95 students at the First Nations School of Toronto through a 6 week program. RPSM offers ensembles (for 6-40 students with most ensembles at 12 students). After a minimum of 2 years in group programs (groups of a maximum of 5 children), children may be considered for private lessons. RPSM offers music lessons on different instruments including piano, violin, trumpet, iPads, DJ-ing, steel drums, percussion, voice, music theory and many others and programs including early childhood music.

RPSM highlights for 2014 include 100 students from the Regent Park and Parkdale choirs performing with the Toronto Symphony Orchestra, 22 students spend a day with Sarah McLaughlin, In 2014, 60 students progressed through to pass Royal Conservatory of Music exams and 8 students graduated from RPSM programs, all going on to attend university.

Charity Intelligence calculates that the costs of providing these music programs is $351 on average. Of this cost, more than 90% is subsidized by donations. Donations makes music lessons available to children living in poverty who would likely not have the opportunity to afford music lessons. In addition, RPSM Foundation provided $20,000 in scholarships in 2014. RPSM's previously stated strategic goal is to provide music education to 3,000 children by 2015.

Financial Review:

In 2014, RPSM and the RPSM Foundation agreed that the Foundation would take on substantially all the fundraising activities for RPSM. In 2013 RPSM sold its building on Queen Street in Toronto, moving into the new Regent Park hub. The net proceeds of this sale were transferred to the Foundation. Accordingly, Charity Intelligence has consolidated the funding reserves, revenues and spending of RPSM and the RPSM Foundation for F2013 and F2014.

In F2014, the combined fundraising costs for RPSM were 6.3% of donations and special events. Combined administrative costs were 31.1% of total revenues. RPSM and RPSM Foundation together have $2.3m in funding reserves (of which $111k is donor endowed.) These funding reserves cover annual program costs 4.0 times.

Updated November 11, 2015

This update is being reviewed by RPSM. Comments and edits may be forthcoming.

Financial Ratios

Fiscal year ending June
201420132012
Administrative costs as % of revenues 31.1%11.7%9.5%
Fundraising costs as % of donations 6.3%5.7%18.8%
Program cost coverage (%) 408.1%350.0%218.7%

Summary Financial Statements

All figures in $s
201420132012
Donations 664,827493,336357,712
Government funding 40,00015,00020,470
Fees for service 59,37464,51957,449
Special events 79,88385,12779,454
Investment income 253,72485,53313,746
Other income 1,1826581,938
Total revenues 1,098,990740,173530,769
Program costs 562,197558,285496,241
Administrative costs 263,25177,34149,275
Fundraising costs 47,27732,96482,281
Cash flow from operations 226,26571,583(97,028)
Funding reserves 2,294,1341,954,0541,085,065

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