The Royal Conservatory of Music
Charitable organization · Toronto, Ontario · BN 107935413RR0001 · Arts · website
Source: T3010 return, FPE 2024-08-31. Split of total expenditures ($52,022,794) as filed with the CRA.
The Royal Conservatory of Music is a charitable organization based in Toronto, Ontario, classified by the CRA under arts. In its fiscal year ending August 31, 2024, it reported $50.4M in revenue and $52M in expenditures.
Its funding that year was roughly 10% from donations, 17% from other charities. In 2024, 64 other registered charities reported granting it a combined $9.6M.
Compared with 39 arts charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 44% of peers. Its fundraising cost per donated dollar was higher than 87% of that peer group. Its highest-paid positions fell in the $350,000 and over range (2 positions in that band). The charity reported 186 permanent full-time positions.
It reported gifts to 1 qualified donee totalling $1.2M in 2024, the largest being $1.2M to Royal Conservatory of Music Foundation. Its filed list of directors and trustees shows 21 names.
In its own words
RCM provides music and arts education across Canada.
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $50.4M | $52M | $40.8M | $7.2M | $1.2M | $44.1M |
| 2023 | $47.5M | $49.4M | $39.4M | $6M | $1.2M | $49.8M |
| 2022 | $51M | $55.1M | $36.3M | $4.4M | $12M | $52.8M |
| 2021 | $47.8M | $41.1M | $30.8M | $4.3M | $3.6M | $58.2M |
| 2020 | $50.4M | $42.3M | $34.7M | $4.4M | $647K | $53M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Granted $1.2M to 1 qualified donee:
Received $9.6M from 64 charities:
- Royal Conservatory of Music Foundation$3.5M
- Temerty Foundation$1.5M
- The Michael and Sonja Koerner Charitable Foundation$1M
- Brookfield Partners Foundation$1M
- Charitable Gift Funds Canada Foundation$353K
- BenefAction Foundation$349K
- Ihnatowycz Family Foundation$250K
- Ontario Arts Foundation/fondation des Arts de l'Ontario$144K
- Myhal Family Foundation$141K
- The Slaight Family Foundation$105K
- The Dalglish Family Foundation$100K
- Weston Family Foundation$100K
- Aqueduct Foundation$82K
- The Clearview Foundation$80K
- J.P. Bickell Foundation$60K
- J.P. Bickell Foundation$60K
- The Azrieli Foundation$60K
- Judy and Wilmot Matthews Foundation$50K
- RBC Foundation$47K
- Lamb Foundation$38K
- Butterfield Family Foundation$38K
- The Rogan Foundation$36K
- Abundance Canada$35K
- The Lewitt Family Foundation$30K
- Cidel Foundation$30K
As reported on the donors’ own T3010 qualified-donee schedules.
What it pays
Its ten highest-paid positions, by band:
- $350,000 and over2 positions
- $300,000–349,9992 positions
- $250,000–299,9993 positions
- $200,000–249,9993 positions
- Permanent full-time positions186
- Total compensation, all staff$24M
Schedule 3 of its 2024 return. The CRA discloses bands, not names or exact salaries.
Directors & trustees (2024)
Timothy Price (chairman of the board); Charles Baillie (director); Paul Beeston (director); David Goldbloom (director); Wendy Hannam (director); Jeffrey Hillis (secretary/treasurer); Ian Ihnatowycz (director); Michael Koerner (director); Willard L'Heureux (director); Jenifer McDonald (director); Rayla Myhal (director); James Temerty (director); Michael Vukets (director); Okan Altug (director); Kevin Doyle (director); Jack Curtin (director); Sondra Lindros (director); Alexander Brose (president and ceo); Janelle Lassonde (director); Heather Edwards (director); Donna Novakavic (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from The Royal Conservatory of Music’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 107935413RR0001), or read how we compute the receipt.