2019–2020 ANNUAL REPORT
A MESSAGE FROM OUR GENERAL DIRECTOR AND BOARD CHAIR General Director Tom Wright Music Director Emeritus Jonathan Darlington 2019–2020 Board of Directors Chair Bill Maclagan Treasurer Richard Rees Secretary Meera Bawa Past Chair Jill Bodkin Directors Mass Abedi Alexander Bjornson Jill Bodkin Heather Clarke Catherine Dangerfield Judy Halbert Kirk LaPointe Maria Leone Jennifer Muench Roger Flowerdew Jan Sampson Pascal Spothelfer Carol Tsuyuki Susan Van der Flier Alexi White Andrea Wood
Vancouver Opera Guild Mass Abedi, President
Vancouver Opera Foundation Michael Gallagher, Chair Distinguished Honorary Patron Martha Lou Henley, C.M.
This was an extraordinary year for Vancouver Opera, shaped by a pandemic, but certainly not overshadowed by it. It will be a year to remember and a year of many firsts to celebrate. Vancouver Opera’s 59th season was meticulously curated to present a wide range of repertoire to our audiences: a classic tragic love story, a popular and well known comedy, a newly commissioned opera for young audiences, and a modern West Coast premiere. Our season opener, Verdi’s La Traviata represented a unique first-ever coproduction between five Canadian opera companies. It was a smashing success. In February, Rossini’s The Barber of Seville filled the theatre with beautiful vocal performances and laughter, exceeding both our box office and artistic expectations. In January we premiered The Flight of the Hummingbird, our first co-production and co-commission with Pacific Opera Victoria. The opera toured schools across B.C. introducing young audiences to the excitement of the human voice and inspiring them to take action against global warming. It was shaping up to be a banner season as Vancouver Opera rode the momentum into preparations for the much-anticipated Another Brick in the Wall: The Opera. In March as the pandemic rapidly progressed, we had to announce our first-ever mainstage cancellation just weeks before opening night. A disappointing, but necessary decision. What happened next was truly inspiring. Our entire community stepped up with words of encouragement, donations and support. And thanks to this incredible support, we emerged from this season stronger, more determined and more financially stable than before. We’re using this time as an opportunity to widen our reach, increase accessibility, establish new partnerships and create a vibrant vision for our organization. Our upcoming digital season will be another company first, and we’re looking forward to continuing this journey of more firsts as we discover new ways to share and experience this incredible art form. Thank you to all the donors, sponsors, patrons, subscribers, volunteers, board members, staff, artists, musicians and partners. We are proud to be part of such a wonderful community. Sincerely,
COVER PHOTO: VO’S 2020 PRODUCTION OF THE BARBER OF SEVILLE. PHOTO BY TIM MATHESON. 2019–2020 SEASON ARTWORK BY NOMI CHI.
Tom Wright, General Director
Bill Maclagan, Board Chair
VANCOUVER OPERA BY THE NUMBERS 8 Main Stage Performances
16,000+ audience members at our mainstage performances
350+ artists, staff and volunteers
200,000+ reached through digital and social media
17,000+ participants in our learning and education programs
6,000+ views of The Flight of the Hummingbird online
2019 – 2020 SEASON
EMILY DORN AS VIOLETTA IN VO’S 2019 PRODUCTION OF LA TRAVIATA. PHOTO BY TIM MATHESON.
LA TRAVIATA GIUSEPPE VERDI
October 17, 19, 24, and 27, 2019 Queen Elizabeth Theatre Conducted by Yves Abel | Directed by Alain Gouthier
Audiences were whisked away to the decadent music hall scene of 1920s Paris with lavish sets, glamorous costumes and beautiful music. Canadian soprano Emily Dorn delivered an exquisite performance to the iconic role of Violetta and Canadian tenor Andrew Haji brought a rich tenderness as the love-struck Alfredo. This unprecedented collaboration between five Canadian opera companies, Vancouver Opera, Manitoba Opera, Edmonton Opera, Pacific Opera Victoria and Opéra de Montréal, proved why La Traviata has become a well-loved classic that deserves to be revisited time and time again.
“The singing is strong, the conducting is dynamic and briskly paced, the chorus is powerful, and the sets and costumes…provide plenty of eye candy.” – The Georgia Straight
THE BARBER OF SEVILLE GIOACHINO ROSSINI
February 13, 15, 20 and 23, 2020 Queen Elizabeth Theatre Conducted by Nathan Brock | Directed by Ashlie Corcoran
This playful comedy, filled with adventure and humour, was the perfect antidote to chase away the winter blues. The young and vibrant cast included acclaimed French-Canadian Julie Boulianne as Rosina, Canadian tenor Isaiah Bell, who made his Vancouver Opera debut as Count Almaviva, and tenor Edward Nelson as Figaro, who would go on to win first prize singing the same role at the Glyndebourne Opera Cup. The catchy music and the beautiful singing in this purely joyful production left audiences with smiles on their faces.
“The production’s carefully calibrated music and comedy is extremely difficult to get right, but the cast and crew pull it off with the ease of one of Figaro’s smooth shaves.” – The Georgia Straight
VO’S 2020 PRODUCTION OF THE BARBER OF SEVILLE. PHOTO BY TIM MATHESON.
SARA SCHABAS AS DUKDUKDIYA/HUMMINGBIRD AND JAN VAN DER HOOFT AS BEAR IN VO’S PRODUCTION OF THE FLIGHT OF THE HUMMINGBIRD. PHOTO BY TIM MATHESON.
THE FLIGHT OF THE
HUMMINGBIRD January to March 2020 Music by Maxime Goulet Libretto and Creative Design by Michael Nicoll Yahgulanaas and Barry Gilson Directed by Glynis Leyshon | Music Direction by Kinza Tyrrell
After four years in the making, Vancouver Opera In Schools and Pacific Opera Victoria premiered The Flight of the Hummingbird in January 2020. In this new opera for young audiences, the animals of the forest are inspired to come together by Dukdukdiya, the Hummingbird, to save their beautiful home from a raging fire. Schools were provided with an in-depth study guide based in Indigenous worldviews and perspectives that was designed in collaboration with our Indigenous Education Advisory Council and the creative team. The tour visited 63 schools in Metro Vancouver and Vancouver Island before being cancelled due to the COVID-19 pandemic. In response, to support educators, students and families with their online learning, on May 19 we released a free broadcast and included related at-home activities and learning resources. Co-commissioned and co-produced by Vancouver Opera and Pacific Opera Victoria
MATCHING GIFT CAMPAIGN
With a generous matching gift of $50,000 from Martha Lou Henley, C.M., donors came together to support the launch of The Flight of the Hummingbird so this inspiring opera could be shared with thousands of students across our province. Thank you to the donors, educators and artists who helped Hummingbird take flight this year.
LEARNING AND EDUCATION Vancouver Opera offers a rich array of learning opportunities for children and youth to broaden creativity through opera and experience the power of a performance. We also host talks, film screenings and lectures throughout the year in relation to our main stage productions. $25 STUDENT RUSH TICKETS are made available for students to attend a night at the opera. DRESS REHEARSALS for La Traviata and The Barber of Seville welcomed over 700 students. OPERA EXPERIENCE for students includes a pre-show workshop followed by tickets to the opera and a backstage tour before the performance. PROJECT OPERA, a highly interactive program for students, brings the magic of opera into the classroom. Students and teachers work in collaboration with Vancouver Opera Teaching Artists to write, stage and perform their own opera based on source material from the classroom. VO’S WORK EXPERIENCE program is for students considering a professional or amateur career in the arts and participants are given experience working with Vancouver Opera. Participating students are introduced to the experience of working with a professional performing arts company, observe rehearsals, interview members of the artistic and production teams and complete hands-on tasks in support of preparing a major production for opening night. VANCOUVER OPERA IN SCHOOLS toured The Flight of the Hummingbird this season to 63 schools in the Lower Mainland and Vancouver Island, bringing the power of an opera performance to young audiences. OPERA SUMMER CAMP participants wrote, staged and performed their own original opera and learned about all aspects of producing an opera. OPERA SPEAKS, a series of free talks this year included a panel discussion that explored the historical context of La Traviata and the impact of modern-day portrayals of sex work on sex industry workers, featuring speakers from the B.C. Coalition of Experiential Communities and UBC. In partnership with SFU Woodward’s Cultural Programs, our Jim Green Opera Film Series offered a free screening of The Marriage of Figaro preceded by a talk about its relationship to The Barber of Seville.
COMMUNITY PARTNERSHIPS HEART PARTNER: KIDS UP FRONT Each season, Vancouver Opera partners with local non-profit organizations to support one another’s work, exchange expertise and increase accessibility. This season’s Heart Partner was Kids Up Front, a non-profit organization that makes arts, culture, sporting and recreational events accessible to children and families who would otherwise not be able to attend. We’re proud to participate in their program and to continue sharing the magic of opera with these families in the future. THE KETTLE SOCIETY Five years ago, Vancouver Opera and The Kettle Society collaborated and formed The Kettle Choir as a safe space for musical expression and community connection. Even when the COVID-19 pandemic forced the Kettle Choir to cease in-person rehearsals, the creative work continued and members were given the opportunity to develop their singing, song writing, and writing skills through online one-on-one sessions. We are honoured to be part of this program and to witness the impact opera and the arts can make in the community.
YOUNG ARTIST COACHING INTENSIVE Vancouver Opera’s Young Artist Coaching Intensive program, initiated by Moh and Yulanda Faris through the Judith Forst Fund, provides technical training and coaching at a critical time in young artists’ careers. Internationally recognized musical coaches, such as Craig Rutenberg, Carol Isaac, Robert Tweten, Judith Forst, Kinza Tyrrell, Leslie Dala and Jonathan Darlington, work with this small group of artists for a week of intensive training. This year’s coach John Fisher brought his extensive experience from major international houses including La Scala, Welsh National Opera and Metropolitan Opera as he worked alongside Vancouver Opera pianist Tina Chang to coach our six young artists. SUPPORTED BY THE DAVID SPENCER MEMORIAL FUND
VO’S YULANDA M FARIS YOUNG ARTISTS PROGRAM MEMBERS NICHOLAS BORG, DAEVYD PEPPER, GENA VAN OOSTEN AND IRINA MEDVEDEVA IN VO’S 2019 PRODUCTION OF LA TRAVIATA. PHOTO BY TIM MATHESON.
YULANDA M. FARIS YOUNG ARTISTS PROGRAM Vancouver Opera is committed to nurturing young Canadian talent through our residency, the Yulanda M. Faris Young Artists Program. Led by Program Director, Leslie Dala; Principal Coach, Kinza Tyrrell; Coach, Tina Chang; and the continued guidance of Vancouver Opera Music Director Emeritus, Jonathan Darlington; this training can be pivotal for many young artists to launch successful careers in this highly competitive field. This season, we welcomed Irina Medvedeva, Gena van Oosten, Daevyd Pepper, Nicholas Borg, Andrea Van Pelt and Amanda Testini to the distinguished program. Throughout the season, these artists participated in masterclasses, one-on-one coaching sessions and were given invaluable understudy and performance opportunities in our mainstage productions of La Traviata and The Barber of Seville. We are grateful for the Yulanda M. Faris family and the donors who sponsored the artists this season: Pat Charles, Ms. Jane McLennan, Dr. George Luciuk & Dr. Lidia Schuster, Mrs. Irene McEwen, The Edwina and Paul Heller Memorial Fund, held at Vancouver Foundation and Mike & Kathy Gallagher.
2019–2020 ANNUAL REPORT
VO’S TECHNICAL DIRECTOR, AUTUMN COPPAWAY, MODELS A NON-SURGICAL GRADE MASK CREATED BY OUR COSTUME SHOP TEAM.
RESILIENCE IN THE FACE OF COVID-19 Our 59th season was shaping up to be an extraordinary year. With strong box office attendance for both La Traviata and The Barber of Seville, the momentum was building as we excitedly prepared for one of our most ambitious undertakings, Another Brick in the Wall: The Opera. However, in March things changed. In response to the pandemic crisis, Vancouver Opera closed the theatre doors and cancelled programming for the remainder of the 2019–2020 season, including the much-anticipated west coast premiere of Another Brick in the Wall: The Opera, and VOX singing competition and gala. While the season ended prematurely, the arts community showed incredible resilience and creativity and we began to see many of our musicians and singers share performances online and through social media. Our artistic team got busy recording podcast episodes as a way to stay connected to our arts community. Working from home, the costume shop pivoted – and began researching, designing, sewing and distributing nonsurgical grade masks to organizations such as The Kettle Society, the BC Society of Transitional Housing, the YWCA Crabtree Corner and others on the front lines. This crisis has strengthened our community and together, we can make incredible things happen.
BE THE LIGHT MATCHING GIFT CAMPAIGN HEARTFELT THANKS: THE LIGHT IS ON When a theatre is “dark”, unoccupied with no production on the stage, a single light is left on at centre stage called the “ghost light”. The ghost light prevents injury to workers upon entering a completely dark stage but for us, the ghost light is symbolic of the temporary nature of our current situation. We will be back, so we left the ghost light on. Thanks to long-time supporters, Julia and Ed Levy who matched all donations up to a total of $30,000 and to the generosity of the many donors who contributed, we exceeded the campaign goal. This incredible show of support will enable our return to the stage when the ghost light can be turned off and the theatres are filled with live music and performances and you, our community, once again.
“In these moments of darkness, art reminds us that we each can be that light. Though our stages are dark, our hearts and spirits are not.” $50,000 +
– Autumn Coppaway, VO Technical Director.
2019–2020 ANNUAL REPORT
VANCOUVER OPERA DONORS Martha Lou Henley, C.M. Martha Lou Henley Charitable Foundation Yoshiko Karasawa Michael and Inna O’Brian Alan & Gwendoline Pyatt $35,000 - $49,999 The Illahie Foundation Mrs. Irene McEwen $20,000 - $34,999 The Bruendl Foundation Patricia Charles Dr. Heather F. Clarke Brigitte & Henning Freybe Mike & Kathy Gallagher The Edwina and Paul Heller Memorial Fund, held at Vancouver Foundation Signe Jurcic Ms. Jane McLennan $10,000 - $19,999 A Cappella Foundation Andrew Mahon Foundation Val & Dick Bradshaw Mrs. Alix Brown The Mary & Gordon Christopher Foundation Mohammed A. Faris & Family First Light Foundation Mr. & Mrs. Allen Fowlis Estate of Marian May Gibbons Bill & Risa Levine Dr. George Luciuk & Dr. Lidia Schuster Paul McEwen and Gwynneth Jones Dr. Ian & Mrs. Jane Strang Dr. Beverley Tamboline $5,000 - $9,999 Donors who wish to remain anonymous ( 2 ) Mr. Hans Alwart Ms. Shirley Barnett Ms. Meera Bawa Jill Bodkin Ken Spencer & Judy Gale Barry Gilson Lori Hareid in memory of Bjorn Hareid Dr. Peter Harnetty Mrs. Judith Helliwell & Dr. John Helliwell Diana and Tom Herbst Dr. Martin Hosking Huscroft Family Charitable Trust Ms. Lynn Kagan Dr. Linda Kaser & Dr. Judy Halbert Jana and Bill Maclagan Miriam Maisonville and David Sauder Mr. & Mrs. David McDonald Mr. & Mrs. Gerald A. B. McGavin
John & Peggy McLernon Mr. Ian Michaud Mirhady Family Fund, held at Vancouver Foundation Mrs. Lorna Mochinski Ms. Bev Park & Mr. Jim Logan George and Santi Pick Mr. Anthony Roper Angela and John Schanck Mr. Ross & Ms. Ursula Southam Pascal & Isabelle Spothelfer Mary Tait & Bill Sirett Dr. Barry & Mrs. Ronnie Tessler Wayne Wiens, in memory of Andrea Pinto Lebowitz Dr. Rosemary Vernon Wilkinson $2,500 - $4,999 Mr. Thomas Adair Joanie Anderson Suzanne & Brad Bailuk Stephanie A. Carlson Mr. Michael & Mrs. Eunice Chan Mr. Edward & Mrs. Dorothy Chiasson Lorna Court & John Mancini George B. Cross Catherine and Paul Dangerfield William and Emmanuelle Davis Ms. Elisabeth Dawson Senator Jack Austin & Ms. Natalie V. Freeman Ms. Judy Garner Arlene Gladstone & Hamish Cameron Mrs. Elaine Godwin Jens & Linda Lee Henriksen Mrs. Aurora R. Hernandez Mrs. Evelyn Kahn Reet Kana In Memory of Tom Blom Dr. Marla Kiess Mr. & Mrs. R. Michael LePage Mr. & Mrs. Hugh Lindsay Doris Luking in memory of Hans Luking Jane Macdonald Genny MacLean Ms. Elaine Mah Marilyn & Hart Mauritz Mathisen Family Foundation Dr. & Mrs. T. Warner Mrs. Anne Morley Simon & Carmen Murphy in memory of Brian Joe Dr. & Mrs. David R. Neima Micki & Michael Partridge Mollie Massie & Hein Poulus Richard and Elise Rees Donald & Dorothy Ritchie Abe & Leyla Sacks Bob Sewell and Susan Van der Flier
VO’S PRODUCTION OF THE FLIGHT OF THE HUMMINGBIRD. PHOTO BY TIM MATHESON.
Curtis Smecher Gillian and Russell Smith Michael Stevenson and Jan Whitford Dr. Larry Stonesifer and Mr. Ronald Angress Mrs. Neri Tischler and Dr. Aron Tischler Dr. Sandra Vestvik Ms. Alexandra Volkoff James & Veronica Weinkam Robert Laing & Edward Wilson Dr. Maurice & Mrs. Jane Wong Andrea Wood & Peter Cavanagh $1,500 - $2,499 Donors who wish to remaiin anonymous ( 2 ) Ms. Wendy G. Baker Earnest & Jean Beaudin Mr. Alexander Bjornson Dan and Ursula Bowditch John & Ruth Brock Jamie & Cindy Bruce Charitable Impact Foundation Ms. Gillian E. Chetty Mr. Michael J. Chutter Dr. Peter & Jean Cooperberg Ms. Pat Dairon Dr. Joseph De Wet Susan Drury & Dennis Perry Valerie Dunsterville & Richard Dunsterville Mr. Harry Edinger Ms. Vivian Eliopoulos Stephanie & Mark Emanuel Tom Ferries & Lisa Pankratz
Frank and Joan Lew Charitable Trust Mrs. Pamela Friedrich Mrs. San Given Mr. Earl Drake & Ms. Monica Gruder Drake Judith and Poul Hansen Penelope B.M. Hedges Ms. Nancy Hermiston Dr. Lionel & Mrs. Beryl Herscovitch John Horning and Lorraine Larkin Mr. Paul Janke Horatio & Jackie Kemeny Mr. Sharman King Mrs. Elizabeth Kirkwood Dr. Sharon Grimes Knox Peter Ko Jon & Eva LaFollette Tom and Karen Lane Maria Leone Chuck Lew In memory of Mary Helen Lew Mr. & Mrs. Harold & Jenny Locke Dr. Alistair MacKay Marlene Mackenzie Mr. Charles & Mrs. Phyllis Maclean Mr. & Mrs. John and Sidney Madden Vladimir Marquez Mr. & Mrs. Robert & Mary McIlwaine Ms. Ann McKinnon Dr. Paul Mitchell-Banks Dr. Peter & Mrs. Eve Munns Mr. & Mrs. D. Murray June Nicolay John & Troy Ormiston 2019–2020 ANNUAL REPORT
Mrs. Mary Orr Joyce Pearkes Ms. Lorraine Portier James & Mona Radelet David Radler Mrs. Margot & Mr. Klaus Richter Mr. John Robinson Ruth E. and Dr. William Hy Ross Foundation Ms. Sheila Ross Dr. Wes Schreiber David & Cathy Scott Dr. Cecil Sigal Dr. Hilda Stanger Dr. Paul & Mrs. Dorothy Stanwood Mr. Donald Steele Dr. and Mrs. Peter Stevenson-Moore Lisa Westermark Mrs. Gwyneth Westwick Mr. Paul Westwick Alexi White & Audra Fediurek Eric and Shirley Wilson John and Mia Wong Tom and Denise Wright Mr. Joe D. Wurz & Mrs. Kathleen M. Wurz Dr. Edwin & Mrs. Patricia Yen $1,000 - $1,499 Donors who wish to remain anonymous ( 1 ) Norman Barr and Bernice Bell Mr. Al Botteselle Nic Boyde Mrs. Marianne Brockmann Ms. Johanne Vincent & Dr. David Chercover Elisabeth Grant Hoole Drs. P. Ratner & J. Johnson Robert Goldstein and Christine Kerr Cameron and Wendy Killick Mike & Jean Kovich Wolfgang and Anne Lippert Dr. Andrew Louie Linda & Larry Marshik Mrs. Nancy Macdonald E.J. Makortoff Sheila Nash Jaime A. Peschiera
Government $10,000+ City of Vancouver Canada Council for the Arts BC Arts Council BC Government, Ministry of Municipal Affairs and Housing, Community Gaming Grants Branch Heritage Canada Foundations $10,000+ Vancouver Foundation Victoria Foundation George W. Norgan Fund, held at the Vancouver Foundation
Edward & Patricia Powers Robert E. Radke Diane Roscoe Mr. Donald Steele $500 - $999 Donors who wish to remain anonymous ( 6 ) Mr. David Agler Ms. V. Barrett Ms. Karly Black Mr. Joost Blom David Branter Mr. Kenneth Broadway Sandra M. Campbell Joanne Challenger Mr. & Mrs. J Stuart Clyne Ms. Joan Cosar Robert Dales in memory of Dr. Irving Guttman C.M., O.B.C. Mrs. Elizabeth Dropko Brian & Mary Forster Mr. & Mrs. Glen Greene Mr. Vitalius Gudaitis Ms. Evelyn Harrison C. Douglas Henning Mr. John Hickey John Hooge Mr. Hua Jiang & Ms. Alina Liu Mr. & Mrs. Leonard Kelsey Pierre Laurin Dr. Barbara J. Low Mr. Marc Dee Mont Mr. Frank Moscone Dr. Brian Norford Mr. Bernard Olfman Mr. Dhruva Pathak Mr. Thomas Przywara Vi Roden Dinesh Samarasekera Mr. Brent Sutton Ms. Karen Elaine White W. Watheson Catherine Ann Wedge Mr. Daniel R. Worsley
Dennis & Phyllis Washington Foundation The McGrane-Pearson Endowment Fund, held at the Vancouver Foundation Corporate $10,000+ Blake, Cassels & Graydon LLP BMO Financial Group Mark Anthony Group Inc. Telus TD Bank
EDWARD NELSON AS FIGARO IN VO’S 2020 PRODUCTION OF THE BARBER 2019–2020 OF SEVILLE. PHOTO BY TIM MATHESON. ANNUAL REPORT
2019–2020 SEASON TOTAL REVENUE
Fundraising Revenues 45% Earned Revenues 26%
3%
VOF
Public Sector Grants 26%
2019–2020 SEASON FUNDRAISING REVENUES
Individual Donations 44%
Lotteries & Special Events 28%
16% 7%
Corporate In-Kind advertising /products Foundations & Other
5%
FINANCIAL SUMMARY VANCOUVER OPERA ASSOCIATION Vancouver Opera Association (“VOA”) is a registered charity with a mandate to produce professional presentations of opera at a high musical and theatrical standard for a wide audience. VOA ended the season with net income of $494K and reduced its accumulated deficit to $916K to better position VOA for the future. Condensed Statement of Financial Position (As at June 30, in thousands)
Condensed Statement of Revenues, Expenses, and Changes in net assets
(For the year ended June 30, in thousands)
ASSETS 2020 2019 REVENUES 2020 2019 Current assets Box office $ 1,635 $ 2,456 Cash and cash equivalents $ 887 $ 2 Other earned revenues 136 84 Restricted cash 275 91 Fundraising 3,134 2,932 Investments - 120 Grants from the VOET - 1,475 Accounts receivable 726 1,669 Grants from the VOF 200 1,303 Prepaid expenses 24 247 Public sector grants 1,794 1,752 $ 1,913 $ 2 ,129 $ 6,899 $ 10,002 Prepaid expenses $ 2 $ 2 Other receivables 26 26 EXPENSES Capital assets 516 588 Progamming $ 3,292 $ 5,157 $ 2,457 $ 2,745 Fundraising 848 1,211 Marketing 839 1,156 General and administrative 870 834 LIABILITIES AND NET ASSETS Facilities 459 452 Current liabilities Net production write off - Bank indebtedness $ 40 $ 634 Amortization of capital assets 96 121 Accounts payable and accrued liabilities 464 389 Loss on disposal of capital assets - Loans payable 738 857 $ 6,405 $ 8,931 Deferred revenue and contributions 1,873 1,975 $ 3,115 $ 3 ,855 Deficiency of revenues over expenses 494 1,071 Loans payable - - Net deficit, beginning of year (1,410) (2,481) Deferred capital contributions 257 300 Net deficit, end of year $ $(916) $ (1,410) $ 3,372 $ 4,155 Net deficit (916) ( 1,410) $ 2,456 $ 2 ,745
VANCOUVER OPERA FOUNDATION Vancouver Opera Foundation (“VOF”) is a registered charity with the primary objective to solicit, hold and administer funds for the benefit of the VOA. These funds are not included in the financial statements of the Vancouver Opera Association. The VOF is the sole trustee of the Vancouver Opera Endowment Trust (the “VOET”), which is an independent registered charity that supports the VOA. The net assets, revenues and expenses of the VOET are not consolidated in the Foundation’s financial statements. Net assets of the VOET at December 31, 2019 were Nil. Condensed Statement of Financial Position Condensed Statement of Revenues, Expenses, and Fund Balance (As at December 31, in thousands) (For the year ended December 31, in thousands) ASSETS 2019 2018 REVENUES 2019 2018 Cash $ 216 $ 125 Fundrasing and grants $ 82 $ 123 Loans receivable 729 837 Investment income 717 592 Investments 13,241 12,485 $ 799 $ 715 Other assets 2 2 $ 14,188 $ 13,449 EXPENSES Disbursements to VOA $ 800 $ 503 LIABILITIES AND FUND BALANCES Professional Fees 71 82 Due to Vancouver Opera Association $ 11 $ 57 Scholarships and bursaries 16 8 Accounts payable & accrued liabilities 9 8 Administration 6 9 Deferred contributions & investment income 1,432 1460 $ 893 $ 602 Fund balance 12,736 11,924 $ 14,188 $ 13,449 (Deficiency) excess of revenues over expenses before the following $ (94) $ 113 Changes in fair value of investments 25 (51) (Deficiency) excess of revenues over expenses $ (69) $ 62 Full audited financial statements are available. Please contact Doug Querns, Director of Finance & Administration at dquerns@vancouveropera.ca
Fund balance, beginning of year $ 11,925 Change in fair value of endowment funds 780 External contribution to endowment funds 100 Fund balance, end of year $12,736
$ 13,831 (2,170) 201 $ 11,924
2019–2020 ANNUAL REPORT
Creating extraordinary experiences that engage, inspire and entertain our community
vancouveropera.ca