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Interior_Annual Report 13-10-30 4:32 PM Page 81








VANCOUVER ART GALLERY ASSOCIATION
STATEMENT OF OPERATIONS

Year ended June 30, 2012 SCHEDULE 3

GENERAL ACQUISITIONS BUILDING OPERATING
FUND FUND FUND CAPITAL FUND TOTAL

REVENUE
Admissions $ 1,695,774 $—$—$—$1,695,774
Exhibition loan fees 102,775 ———102,775
Fundraising (notes 7(c) and 11) 2,088,465 343,000 346,102 — 2,777,567
Gallery Store, Artist Editions and
Art Rentals & Sales (note 8) 1,898,932 ———1,898,932
Investment income (note 10) 29,645 308,233 ——337,878
Memberships 799,330 ———799,330
Public programming 60,420 ———60,420
Rentals and restaurant lease 541,643 ———541,643
Special events (note 9) 1,283,297 ———1,283,297
Sponsorships 863,250 ———863,250
Vancouver Art Gallery Foundation
contribution (note 11(a)) 233,562 124,957 ——358,519
Other 69,873 ———69,873
9,666,966 776,190 346,102 — 10,789,258
GRANTS
BC Arts Council 630,000 ———630,000
BC Gaming 200,000 ———200,000
Canada Council 300,000 ———300,000
City of Vancouver 2,255,827 ———2,255,827
Other 130,103 ———130,103
3,515,930 ———3,515,930
$ 13,182,896 $ 776,190 $ 346,102 $—$14,305,188
EXPENSES
Administration and finance 931,068 ———931,068
Art acquisitions (note 12) — 963,582 ——963,582
Board and management services 643,365 ———643,365
Curatorial and programs 1,471,487 ———1,471,487
Exhibitions 2,084,550 ———2,084,550
Gallery Store, Artist Editions and
Art Rentals & Sales (note 8) 1,655,033 ———1,655,033
Maintenance and security 2,331,693 ———2,331,693
Marketing, development and visitor services (note 9) 2,278,625 ———2,278,625
Relocation planning ——346,102 — 346,102
Museum services 1,184,928 ———1,184,928
$ 12,580,749 $ 963,582 $ 346,102 $—$13,890,433
Excess (deficiency) of revenue over
expenses before the undernoted 602,147 (187,392) ——414,755
Amortization of capital assets (265,193) ———(265,193)
Excess (deficiency) of revenue over
expenses before the undernoted 336,954 (187,392) ——149,562
Investment income — Building Fund (note 7(c)) 850,169 ———850,169
Excess (deficiency) of revenue over expenses 1,187,123 (187,392) ——999,731
Balance, beginning of year (453,851) 211,197 1,458,310 — 1,215,656
Operating Capital Fund contributions (note 1(a)(iv)) ———505,000 505,000
Interfund transfers (note 7(c)) (850,169) — 850,169 ——
BALANCE, END OF YEAR $ (116,897) $ 23,805 $ 2,308,479 $ 505,000 $ 2,720,387





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