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Regent Park School of Music

585 Dundas Street East, Suite 220
Toronto, ON M5A 2B7
Executive Director: Richard Marsella
Board Chair: Martin Abel

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

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 for current and previous years available on the charity's website [Audited financial statement for most recent year]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #3

Avg. Compensation $61,498

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 2
< $40k 0
Information from most recent CRA Charities Directorate filings for F2017

About Regent Park School of Music:

Founded in 1999, Regent Park School of Music (RPSM) offers affordable music lessons to kids from low-income families in the Toronto neighborhoods of Regent Park and Jane & Finch. Children and youth aged 3-18 can take group and private lessons which teach concepts like rhythm, melody, harmony, and tone, and aim to encourage creativity. Program costs are subsidized based on household income, and students are loaned instruments and music books for free.

Regent Park School of Music reports that 1,000 students participated in its programs during F2017. This includes 500 students in Regent Park programming, 200 in Jane & Finch, 141 at First Nations School of Toronto, 107 who learned alongside the Syrian Children’s Refugee Choir, and 52 in various pilot projects. In F2017, pilot projects involved youth with special needs, in refugee camps, and within the justice system. Per student, operating cost less amortization is $1,129.

RPSM runs some programming from the Daniels Spectrum building where a fire occurred on May 30, 2018. Affected programs are expected to continue offsite until the space is fully functional in Fall 2018.

Results and Impact: Regent Park School of Music reports that its programs help students build self-esteem, grow into confident leaders, and be well-equipped to succeed in life. In F2017, 12 students graduated from RPSM, all of which are expected to attend college or university.

Financial Review:

Charity Intelligence has scored Regent Park School of Music as a zero in financial transparency because the charity has failed to provide full financial statements when requested. The financial analysis completed by Charity Intelligence uses the most recent, full financial statements available to Ci at the time of writing this report.

Charity Intelligence has consolidated the financial statements from the Regent Park School of Music operating charity and Regent Park School of Music Foundation.

Regent Park School of Music is a Small charity, with donations and special events revenue of $942k in F2015. Administrative costs are 28% of revenues and fundraising costs are 7% of donations. For every $1 donated, 65 cents go to the cause, falling just within Ci’s reasonable range for overhead spending. RPSM has $2.4m in funding reserves of which $139k is donor-endowed. Excluding donor-endowed funds, the charity could operate programs for 2.9 years using funding reserves.

This charity report is an update that has been sent to Regent Park School of Music for review. Changes and edits may be forthcoming.

Updated on August 30, 2018 by Madison Kerr.

Financial Ratios

Fiscal year ending June
Administrative costs as % of revenues 28.1%30.7%10.4%
Fundraising costs as % of donations 6.6%6.4%5.7%
Program cost coverage (%) 310.3%408.8%353.6%

Summary Financial Statements

All figures in $s
Donations 925,649664,827493,336
Government funding 43,00040,00015,000
Fees for service 104,57663,01664,519
Special events 16,48576,24185,127
Investment income 103,900253,72481,533
Other income 01,182658
Total revenues 1,193,6101,098,990740,173
Program costs 739,979537,477551,542
Grants 20,00020,0000
Administrative costs 306,678259,54368,626
Fundraising costs 62,29847,27732,964
Cash flow from operations 64,655234,69387,041
Funding reserves 2,358,1292,279,0661,949,986
Note: Ci has adjusted for amortization of deferred capital contributions, affecting revenues by ($2k) in F2015, ($3k) in F2014, and ($8k) in F2013. Ci has reported salary information as reported on the operating charity’s most recent T3010 filing.

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