Art Gallery of Ontario

317 Dundas Street West
Toronto , ON M5T 1G4
CEO: Stephan Jost
Board President: Rupert Duchesne

Charitable Reg. #:11879 0401 RR0001


Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 2/5]


Audited financial statements available only through official request for information from Charities Directorate.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 69 cents are available for programs.

My anchor


About Art Gallery of Ontario:

Art Gallery of Ontario is a 2-star charity that is not financially transparent. It has a C- results reporting grade, which is below average. For every dollar donated to the charity, 69 cents are available to go to the cause, which is within Ci's reasonable range. 

Art Gallery of Ontario (AGO) was founded in 1900 by a group of private citizens as the Art Museum of Toronto. Today, AGO is one of the largest art museums in North America, with a physical facility of 583,000 square feet. Its mission is to “bring people together with art to see, experience and understand the world in new ways.” AGO runs two programs: Exhibitions and Education & Programming. The charity does not provide a financial breakdown of these two programs. In F2022, 404,463 people visited Art Gallery of Ontario.  

AGO’s fiscal year ends in March. Despite this, its most recent annual report is its F2022.

Art Gallery of Ontario’s Exhibition program runs large exhibitions and smaller installations, acquires art, and sends travelling exhibitions to other museums. In F2022 AGO acquired 213 works of art: three European, seven African, 29 Canadian and Indigenous, 26 modern and contemporary, 131 photographs, and 17 prints. The charity highlighted four special exhibitions it ran in F2022: Andy Warhol (July 2021 – October 2021), Picasso: Painting the Blue Period (October 2021 – January 2022), Fragments of Epic Memory (September 2021 – February 2022), and Robert Houle: Red is Beautiful (December 2021 – April 2022). The charity’s Anthropocene travelling exhibit was on display in Stockholm, Sweden until January 2022. In 2024, the charity will open eight new exhibits.

Art Gallery of Ontario’s Education and Programming program runs talks for the public, camps for children, and various events to promote local artists. In F2022, it ran seven Education and Programming events. AGO and RBC’s Emerging Artists Program finished its tenth year in F2022. This program received over 200 submissions and selected four winners. Each winner’s art was showcased publicly. AGO’s Portraits of Resilience event received over 650 art submissions in an online exhibit.

My anchor

Results and Impact

Charity Intelligence was unable to find any quantified results on AGO’s programs. This may not be a complete representation of AGO’s results and impact.

Art Gallery of Ontario is not yet rated on impact (n/r).

My anchor


Charity Intelligence consolidated the operating and foundation’s audited financial statements for this review. Charity Intelligence has done its best to reconcile the Foundation's 2022 year-end with the operating charity's 2023 year-end. 

Art Gallery of Ontario Foundation’s audited financial statements are not posted publicly. The charity refused to provide Ci with the foundation’s audited financial statements upon request. Ci received these statements after a request from the CRA.

In F2023, AGO received $26.2m in donations and $21.1m in gifted works of art. AGO also received $26.0m in government funding, representing 37% of total revenue. Administrative costs are 11% of revenue (excluding investment income) and fundraising costs are 20% of donations. Total overhead spending is 31%. For every dollar donated to AGO, 69 cents are available to go to the cause, which is within Ci’s reasonable range.

AGO has $133.9m in reserve funds less interest-bearing loans, and $81.6m in donor-endowed funds. Excluding donor-endowed funds, AGO’s net reserves can cover 146%, or one year and six months of its annual program costs.

In F2023, AGO’s $138.0m in cash and investments returned a loss of $11.1m, and a return of -8%. Over the past 12 years, AGO’s investments returned an average of 5%.

In F2023, AGO paid external fundraisers $293k to collect $775k, at a cost of $0.38 on every dollar.

Charity Intelligence has sent this update to Art Gallery of Ontario for review. Changes and edits may be forthcoming.

Updated on February 13, 2024 by Liam Chapleau.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 11.0%17.9%22.0%
Fundraising costs as % of donations 19.6%30.9%25.7%
Total overhead spending 30.6%48.7%47.6%
Program cost coverage (%) 145.6%149.6%166.6%

Summary Financial Statements

All figures in $000s
Donations 26,23514,97915,293
Goods in kind 21,1289,41614,544
Government funding 25,98833,56336,881
Fees for service 6,9395,667870
Business activities (net) 139(2,155)(3,422)
Investment income (11,626)14,0616,634
Other income 1,9361,4982,087
Total revenues 70,73977,02972,887
Program costs 40,01334,07627,925
Donated goods exp 21,1289,41614,544
Administrative costs 9,06411,26214,556
Fundraising costs 5,1394,6223,925
Other costs 261225241
Total spending 75,60559,60161,191
Cash flow from operations (4,866)17,42811,696
Capital spending 3,8411,6041,866
Funding reserves 133,905136,524119,847

Note: Charity Intelligence consolidated the operating and foundation’s financials for this review. Ci accounted for deferred revenue, affecting revenue by ($2.2m) in F2023, ($5.4m) in F2022, and ($6.0m) in F2021. Ci included investment counselling fees within Investment income, affecting revenues and expenses by ($461k) in F2023, ($567k) in F2022, and ($330k) in F2021. Ci reports business net expenses, affecting revenue and expenses by ($12.6m) in F2023, ($6.3m) in F2022, and ($4.5m) in F2021. Ci excluded transfers from the two charities, affecting revenue by ($6.0m) in F2023, ($7.7m) in F2022, and ($1.7m) in F2021. Ci excluded proceeds from sale of deaccessioned art, affecting revenue by $49k in F2023, $124k in F2022, and $147k in F2021.

Salary Information

Full-time staff: 323

Avg. compensation: $104,028

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2023

My anchor

Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416 979 6648


Charity Intelligence researches Canadian charities for donors to be informed and give intelligently. Our website posts free reports on more than 800 Canadian charities, as well as in-depth primers on philanthropic sectors like Canada’s environment, cancer, and homelessness. Today over 500,000 Canadians use our website as a go-to source for information on Canadian charities reading over 1.6 million charity reports. Through rigorous and independent research, Charity Intelligence aims to assist Canada’s dynamic charitable sector in being more transparent, accountable and focused on results.


Be Informed. Give Intelligently. Have Impact


Charitable Registration Number: 80340 7956 RR0001