The Canada Council for the Arts reported a surplus of $10,153,000 in the fiscal year ending March 31, 2023, the federal agency has stated in its latest annual report. Revenues were $450,131,000 and expenses were $439,978,000. The bulk of revenue comes from the council’s parliamentary appropriation.
In the previous year, ending March 31, 2022, total revenues were $556,516,000, revenues were $529,731,000 and the surplus was $26,785,000. The revenues were higher that year because of extra money given to the council from Parliament to help artists and other creative folks weather their lost income during Covid-19.
Some other key figures in the report include:
- 2,188 arts organizations received $228.9 million in funding; 274 were first-time recipients awarded $10.5 million.
- 569 groups received $22.9 million; 241 were first-time recipients awarded $7.1 million.
- 4,728 artists received $113.6 million; 2,133 were first-time recipients awarded $44.1 million.
- 2,077 communities across Canada received grants, prizes and payments.
- 683 artists and arts professionals served as peer assessors; 299 were first-time assessors.
- The Art Bank’s assets increased in the 2022-23 fiscal year to $19,849,000 from $19,363,00 the previous year,
- The Art Bank acquired art valued at $542,000 in the 2022-23 fiscal year compared with $37,000 the previous year.
- Current Art Bank holdings include 17,226 works of art in all media by 3,235 artists.
Source: Canada Council for the Arts