Canadian Opera Company
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.
63%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 63 cents are available for programs.
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OVERVIEW
About Canadian Opera Company:
Canadian Opera Company is a 2-star charity. It is not financially transparent and has a below average results reporting grade. Its overhead costs are just outside of Ci's reasonable range. Before you give, read Charity Intelligence's report.
Founded in 1950, the Canadian Opera Company (COC) is the largest producer of opera in Canada and one of the largest in North America. COC strives to bring the opera experience to local, national, and global audiences every day. The opera presents six fully staged productions at the Four Seasons Centre for the Performing Arts in Toronto annually. The opera is led by General Director Alexander Neef who was appointed in June 2008. The COC’s orchestra is comprised of more than 50 permanent instruments and is the oldest opera orchestra in Canada. Outside of its mainstage performances, COC also runs education and outreach programs. In total, COC put on 598 performances, concerts, and events across its two programs.
In F2018, Canadian Opera Company’s mainstage performance had a total audience of nearly 125,000 people across its six productions. These six productions were: Arabella by Richard Strauss, The Elixir of Love by Gaetano Donizetti, Rigoletto by Giuseppe Verdi, The Abduction from Seraglio by W.A Mozart, The Nightingale and Other Short Fables by Igor Stravinsky, and Anna Balena by Gaetano Donizetti.
Through its education and outreach programs, the opera offers school, family, and adult-specific programming. In F2018, COC’s education and outreach events were attended by over 23,000 people, down from 31,807 in F2017. COC also performed 76 free concerts in downtown Toronto that were attended by nearly 14,000 people in F2018, an increase from 11,469 in F2017. At these concerts, 522 artists performed a variety of work that included 8 world premieres and 2 Canadian performance debuts.
This is the most recent Charity Intelligence update on Canadian Opera Company. Ci requested COC's most recent financial statements but did not receive them. The information in this report reflects F2018.
August 31, 2022.
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Finances
The Canadian Opera Company is a large charity with donations of $10.9m in F2018. Its administrative costs are 16% of revenues and fundraising costs are 21% of donations. For every dollar donated to the charity, 63 cents go to its programs. This is outside of Ci’s reasonable range for overhead spending. The charity has $45m in funding reserves. Reserves can cover program costs for 22 months. Ci consolidated the operating charity's financials with its foundation.
This charity report is an update that has been sent to Canadian Opera Company. Changes and edits may be forthcoming.
Updated on August 8, 2019 by Stefan Tetzlaff.
Financial Review
Fiscal year ending June
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 15.6% | 13.9% | 14.6% |
| Fundraising costs as % of donations | 21.1% | 19.7% | 20.6% |
| Program cost coverage (%) | 185.8% | 159.0% | 167.2% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 10,933 | 11,062 | 9,906 |
| Government funding | 6,171 | 6,172 | 6,023 |
| Fees for service | 8,234 | 9,508 | 9,968 |
| Business activities (net) | 3,216 | 3,227 | 3,026 |
| Other income | 1,099 | 1,408 | 1,272 |
| Total revenues | 29,653 | 31,377 | 30,195 |
| Program costs | 24,174 | 25,582 | 24,234 |
| Grants | 0 | 820 | 0 |
| Administrative costs | 4,613 | 4,357 | 4,399 |
| Fundraising costs | 2,303 | 2,180 | 2,038 |
| Other costs | 495 | 807 | 658 |
| Total spending | 31,585 | 33,746 | 31,329 |
| Cash flow from operations | (1,932) | (2,369) | (1,134) |
| Capital spending | 983 | 653 | 0 |
| Funding reserves | 44,918 | 41,987 | 40,511 |
Note: Ci removed amortization of deferred capital contributions from revenues, affecting total revenue by ($3.8m) in F2018, ($3.8m) in F2017, and ($3.8m) in F2016. Ci is presenting bar, event and parking revenue net of expenses. Ci removed transfers from the foundation from revenue, affecting total revenue by (2.1m) in F2018, ($2.6m) in F2017, and ($1.4m) in F2016.
Salary Information
$350k + |
1 |
$300k - $350k |
1 |
$250k - $300k |
1 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
2 |
$80k - $120k |
3 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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