National Music Centre
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
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.
64%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 64 cents are available for programs.
My anchor
OVERVIEW
About National Music Centre:
National Music Centre is a 2-star charity. It is not financially transparent and has overhead spending outside of Ci’s reasonable range and a below-average results reporting grade. Before you give, read Charity Intelligence's report.
The National Music Centre (NMC) is a museum and performance venue in Calgary, AB. NMC focuses on Collections and Programs. It has a collection of more than 2,000 pieces that help tell the stories of music in Canada. It also has a “living” collection of instruments that artists can access to make music. Along with these collections, the charity has an online collection that features 150 of its most popular pieces. NMC’s Programs include performances, education and youth programs, an Artist in Residence Program, music therapy, and an artist development program.
In F2021, NMC launched four new physical exhibitions and three digital exhibitions. It also added 251 new items to its collection in 2021. NMC’s living collection was used for 8,848 hours in F2021. The charity also held 50 recording hours over 118 days in F2021 and had 1,062 studio recording hours.
NMC served 2,547 artists in F2021. It held 67 live performances, 15 live streams, and six co-productions. The charity released 16 online learning videos in F2021. It also hosted five artist residencies.
During F2021, NMC had 34,668 general admission visitors. Its live events and co-productions had 3,954 attendees. In F2021, total guests were 58,137, a 45% increase from F2020.
My anchor
Results and Impact
Charity Intelligence did not find any quantified outcomes on National Music Centre’s website.
The charity is not yet rated on impact (n/r).
My anchor
Finances
National Music Centre is not financially transparent. This financial review is based on audited statements provided by the CRA.
In F2021, National Music Centre received $5.1m in donations. It also received $2.5m in government grants, representing 23% of total revenues. Administrative costs were 16% of revenues, and fundraising costs were 20% of donations in F2021. This resulted in total overhead spending of 36%. For every dollar donated to NMC, 64 cents went to the cause, which is just outside of Ci's reasonable range for overhead spending.
NMC had negative net funding reserves of ($52.3m) due to $14.7m in gross reserves and $67.0m in long-term debt. This included donor-endowed funds of $567k. Without this debt or endowed funds, it could cover its program costs for about three years and seven months with its funding reserves.
NMC has 100% ownership in King Eddy, a restaurant and live music venue. NMC recorded an equity gain (loss) of $nil in F2021, ($81k) in F2020, and ($340k) in F2019. This has been included in investment income.
This charity report is an update that is currently being reviewed by National Music Centre. Comments and edits may be forthcoming.
Updated on July 31, 2023 by Krystie Nguyen.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 16.0% | 14.4% | 10.0% |
| Fundraising costs as % of donations | 19.7% | 19.4% | 19.2% |
| Total overhead spending | 35.6% | 33.8% | 29.3% |
| Program cost coverage (%) | (999.9%) | (1,237.0%) | (889.2%) |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 5,132 | 5,045 | 8,170 |
| Government funding | 2,500 | 1,441 | 425 |
| Business activities (net) | 784 | 919 | 4,086 |
| Investment income | 2,525 | 858 | (108) |
| Other income | 13 | 183 | (691) |
| Total revenues | 10,954 | 8,446 | 11,882 |
| Program costs | 3,958 | 4,123 | 5,975 |
| Grants | 159 | 297 | 66 |
| Administrative costs | 1,345 | 1,092 | 1,203 |
| Fundraising costs | 1,010 | 978 | 1,572 |
| Other costs | 2,058 | 2,393 | 2,720 |
| Total spending | 8,530 | 8,883 | 11,535 |
| Cash flow from operations | 2,424 | (438) | 347 |
| Capital spending | 656 | 513 | 259 |
| Funding reserves | (52,282) | (53,759) | (52,898) |
Note: Ci adjusted for deferred capital contributions, amortization of deferred capital contributions, amortization to revenue from disposal of rental property, and deferred contributions. This affected total revenues by $493k in F2021, ($230k) in F2020, and $801k in F2019. Ci reported gain (loss) on disposal of rental property as other income, affecting revenues by $13k in F2021, $183k in F2020, and ($691k) in F2019. Ci reported amortization as a non-cash expense, affecting total expenses by $7.0m in F2021, $7.3m in F2020, and $7.9m in F2019. Ci included interest expenses as other expenses, affecting total spending by $2.1m in F2021, $2.4m in F2020, and $2.7m in F2019. Ci used NMC’s T3010 filing with the CRA to report grant information and backed out the amount from program costs.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
0 |
$160k - $200k |
1 |
$120k - $160k |
0 |
$80k - $120k |
8 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 403-543-5115