Financials

2021/22 Financial Overview

The 2021/22 financial statements reflect the return to live performances after a hiatus of over 19 months, with revenues of $37.4 million and expenses of $37 million, resulting in a modest surplus of $400,000. Audience support for the return was exceptionally strong but remained below pre-covid levels due to ongoing impacts. This gap was mitigated by $3.1 million in Covid-19 support from the Government of Canada’s Wage and Rent subsidies and the Canada Tourism and Hospitality Recovery Program, and a special Covid-19 Relief grant from the Canada Council for the Arts.

We are so grateful to our loyal donors, who continued to provide much-needed ongoing membership support and our leadership donors who helped to fund several new commissions, the landmark Swan Lake production and a documentary film of Angels’ Atlas. The Endowment provided a record $4.7 million donation, including a $1 million donation towards Swan Lake from the Walter Carsen Spend Down fund, which is now fully expended. With the return to the stage, expenses also increased commensurately to launch the new season, including the recognition of prepaid new production expenses in the year.

We are deeply grateful to the entire ballet family of dancers, musicians, artistic, production and administrative staff who worked so hard to return to the stage and were also sensitive to the challenges of an uncertain year. It truly was a collective effort to bring the year in successfully.

Krista Kerr
Chair, Audit and Finance Committee
Board of Directors

2021/22 Audited Financial Statements

Revenue Sources

Fundraising Sources

Expenditures

Annual Reports: Prior Years