You may also like:
Banff Centre
Inspiring creativity
Arts & Culture
Banff, AB

Toronto International Film Festival

350 King Street W
Toronto, ON M5V 3X5
Executive Director: Michèle Maheux
Board Chair: Jennifer Tory

Website: www.tiff.net
Charitable Reg. #: 11930 4541 RR0001
Sector: Arts & Culture
Operating Charity

Donor Accountability

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 ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #233

Avg. Compensation $73,049

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 2
$160k - $200k 1
$120k - $160k 4
$80k - $120k 2
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Toronto International Film Festival:

Founded in 1976, TIFF (Toronto International Film Festival) aims to “be the global centre for film culture”. Its mission is to transform “the way people see the world, through film”. TIFF’s priorities centre on four strategic areas: artistic excellence, visitors experience, people and culture, and sustainability. TIFF offers film screenings, lectures, discussions, festivals, workshops, industry support and the chance to meet filmmakers from Canada and around the world.

In F2016, Toronto International Film Festival featured 296 movies with 1,200 screenings and, throughout the year, 2.9 million people attended TIFF’s activities. It hosted twice as many film premieres in 2016 than in 2015, building its reputation as the blockbuster festival with the ability to generate "Oscar buzz". In February 2017, TIFF announced that its 2017 lineup will be more tightly curated, downsizing its movie lineup by 20 per cent and dropping 2 of the festival's 11 venues. TIFF has significant economic impact; in previous years it brought in $189m to Toronto in tourism (4-5x the cost of putting on TIFF).

In its charity work, more than 2,000 youth participated in its Special Delivery program, bringing film screenings, workshops and special guests to Toronto youth with limited access to arts programming. More than 1,000 mental health patients participated in its Reel Comfort program with the intent to help them connect with their creativity, community and film. 

TIFF curates the largest collection of English-language Canadian film-related artifacts. In F2016, Toronto International Film Festival was gifted four major film collections consisting of 1,460 film prints, in 16mm and 35mm formats, which will be archived in the TIFF reference library.

One of TIFF's new initiatives is to improve the representation of women in front of and behind the camera. It reports that women now comprise 50% of participants In TIFF's Rising Stars, Talent Lab and Studio programs, women are now 50% of participants, 55% of the speakers were female at the TIFF ’16 Industry Conference, and 28% of films in TIFF’16 were directed by women.

Financial Review:

Toronto International Film Festival is a large-cap charity, with donations of $19.4m in F2016. These donations include corporate sponsorships of $12.0m in F2016 and $14.4m in F2015, with philanthropic donations being $7.2m in F2016 and $5.7m in F2015. Ticket sales and memberships contribute 39% of total revenues, at $17.3m in F2016. Its administrative costs are 13% of revenues, and its fundraising costs are 18% of donations. For every $1 donated to Toronto International Film Festival, 69 cents is put towards its programs, falling within Ci’s reasonable range. The charity’s funding reserves are ($22.9m) due to $34.2m in outstanding long-term construction loans issued by the Ontario government. 

There is a material discrepancy between TIFF's salary information filed with the CRA Charities Directorate and Ontario's "Sunshine List". Ontario's Sunshine List shows the ten highest salaries at TIFF: one TIFF executive is paid over $350,000 ($364k), with two staff paid $250k-$300k, one staff paid $200k-$250k, four staff paid $160k-$200k, and two staff paid $120k-$160k.

This charity report is an update that is being reviewed by Toronto International Film Festival. Changes and edits may be forthcoming.

Updated on July 13, 2017 by Josh Lam.

Financial Ratios

Fiscal year ending December
201620152014
Administrative costs as % of revenues 13.0%12.5%11.5%
Fundraising costs as % of donations 18.0%16.9%15.0%
Program cost coverage (%) (73.7%)(78.9%)(95.5%)

Summary Financial Statements

All figures in $000s
201620152014
Donations 19,40020,30420,652
Government funding 4,6964,5644,769
Fees for service 17,26616,63915,914
Business activities (net) 2,9473,1813,118
Investment income 500371606
Total revenues 44,80945,06045,059
Program costs 31,06631,42330,041
Administrative costs 5,7655,5815,132
Fundraising costs 3,5003,4243,100
Other costs 1,5581,6811,799
Cash flow from operations 2,9212,9514,987
Funding reserves (22,893)(24,805)(28,692)
Note: Ci has removed amortization affecting expenses by ($4.7m) in F2016, ($4.9m) in F2015, and by ($4.8m) in F2014.  

Comments added by the Charity:

Sources:

Barry Hertz, "Guess who's coming to TIFF", Globe and Mail, July 13, 2017

Peter Debruge, "Has the Toronto Film Festival Gotten Too Big"..., Variety Sept. 16, 2016 

Karissa Donkin, "TIFF's economic impact reaches $189 million, study says", Toronto Star, July 18, 2013 

Ontario 2015 "Sunshine List" https://www.ontario.ca/page/public-sector-salary-disclosure-2015-all-sectors-and-seconded-employees

Go to top