Royal Conservatory of Music Foundation
Public foundation · Toronto, Ontario · BN 894763432RR0002 · Foundations Advancing Education · website
Source: T3010 return, FPE 2024-08-31. Split of total expenditures ($3,983,688) as filed with the CRA.
Royal Conservatory of Music Foundation is a public foundation based in Toronto, Ontario, classified by the CRA under foundations advancing education. In its fiscal year ending August 31, 2024, it reported $8.6M in revenue and $4M in expenditures.
Its funding that year was roughly 13% from donations, 7% from government. In 2024, 1 other registered charity reported granting it a combined $1.2M.
Compared with 632 education charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 56% of peers.
As a grantmaker, it reported gifts to 1 qualified donee totalling $3.5M in 2024, the largest being $3.5M to The Royal Conservatory of Music. Revenue has grown substantially over its filings on record here, from $4M in 2020 to $8.6M in 2024. Its filed list of directors and trustees shows 21 names.
In its own words
Royal conservatory of music (the 'foundation') was incorporated under the canada corporation act of february 07 1996. The foundation has continued under the canada not-for-profit corporation act. It was created to receive and maintain funds to support and promote the objectives of the royal conservatory of music ( the rcm).
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $8.6M | $4M | — | — | $3.5M | $71.1M |
| 2023 | $12.4M | $3.3M | — | — | $2.8M | — |
| 2022 | $3.2M | $3.4M | — | — | $2.9M | $57.4M |
| 2021 | $16.4M | $2.8M | — | — | $2.4M | $57.5M |
| 2020 | $4M | $2.5M | — | — | $2.2M | $43.9M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Public foundation — endowment and payout, August 31, 2024
- Investment income$6,887,650
- Receipted donations$1,166,187
This ratio is gifts made divided by total assets at year end. It is not the CRA disbursement quota, which is calculated on the average value of property not used in charitable activities and cannot be derived from these filings.
Money between charities, 2024
Granted $3.5M to 1 qualified donee:
Received $1.2M from 1 charity:
As reported on the donors’ own T3010 qualified-donee schedules.
Directors & trustees (2024)
Timothy Price (chairman of the board); Alexander Brose (president); Charles Baillie (director); Janelle Lassonde (director); Allan Kimberley (director); Sondra Lindros (director); David Goldbloom (director); Wendy Hannam (director); Ian Ihnatowycz (director); Michael Koerner (director); Willard L'Heureux (director); Heather Edwards (director); Jenifer McDonald (director); Donna Novakavic (director); Rayla Myhal (director); James Temerty (director); Okan Altug (director); Jeffrey Hillis (secretary/treasurer); Paul Beeston (director); Jack Curtin (director); Kevin Doyle (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from Royal Conservatory of Music Foundation’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 894763432RR0002), or read how we compute the receipt.