2023-2024 Annual Report

ANNUAL REPORT October 1, 2023 – September 30, 2024 A

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“Art appreciation is a subjective matter, and we each bring our own experience, knowledge and taste to the party.”

- Michael Audain

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CONTENTS MESSAGE FROM THE CHAIR AND

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AUDAIN GALA & AUCTION

DIRECTOR & CHIEF CURATOR

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AUDAIN PRIZE

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SPECIAL EXHIBITIONS

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FOUNDATION

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TOURING EXHIBITIONS

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SUPPORTERS

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PERMANENT COLLECTION

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BOARD OF TRUSTEES

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ACQUISITIONS & LOANS

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VOLUNTEERS & COMMUNITY

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PUBLICATIONS

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MUSEUM STAFF

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MUSEUM SHOP

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AUDITED FINANCIAL STATEMENTS

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PUBLIC ENGAGEMENT

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Front cover Jin-me Yoon, Untitled 9 (Long Time So Long), 2022, inkjet print, Purchased with Audain Art Museum Acquisition Fund

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MESSAGES THE CHAIR AND DIRECTOR & CHIEF CURATOR The Audain Art Museum (AAM) is firmly established as a premier cultural venue in British Columbia and continues to exert a formidable profile across Canada. Our Board of Trustees provides expert guidance in all aspects of the institution’s operations, while the staff work diligently to fulfill the vision of Michael Audain and Yoshiko Karasawa.

In-house produced touring exhibitions over the 2023-24 fiscal year included the first national travelling effort by the AAM. Wolves: The Art of Dempsey Bob concluded at the Kelowna Art Gallery in February 2024 following its opening in Whistler in 2022, with stops in Calgary, Toronto, and Montreal along the way. The incredibly popular Ikeda Manabu: Flowers from the Wreckage exhibition that drew record visitors to the AAM in 2023 moved onto the Museum of Contemporary Art Cleveland from February to May of 2024. An international first for the Museum!

The AAM’s Upper Galleries offerings in 2023-24 included the Karen Bubaš: A Garden of Shadows exhibition with a newly commissioned piece for the Permanent Collection entitled Alexander Falls.

Adad Hannah, Jake Kimble, Michelle Sound, and Jin-me Yoon were selected for the Otherwise Disregarded exhibition that was part of the 2024 Capture Photography Festival. Purchases from this show, a video piece by Hannah and a photograph by Yoon, marked an ongoing effort to embed a history of the AAM’s important in-house productions within the Permanent Collection.

The Tom & Teresa Gautreau Galleries played host to Gathie Falk: Revelations followed by Tom Thomson: North Star, both organized by the McMichael Canadian Art Collection.

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A special moment during Revelations occurred when Gathie came for a Saturday afternoon visit to the AAM, facilitated by Founders Suzanne Bolton and Jeff Moonie. The Thomson exhibition proved to be a milestone in the AAM’s history, as the pleinair studies and studio-based canvases on display by this iconic Canadian painter were very well received by our members and visitors alike.

Additions to the Museum’s Permanent Collection in 2023-24 included donations and acquisitions featuring the work of Emily Carr, Dana Claxton, Ann Kipling, Manabu Ikeda, Michael Nicoll Yahgulanaas, Mungo Martin, and Gordon Smith. Such works represent the continued strategic growth of the AAM’s holding of BC’s most important artists, while allowing for a constant refreshment of the Permanent Collection galleries.

The 2024 Audain Gala & Auction at the Fairmont Chateau Whistler was the AAM’s most successful fundraiser to date, grossing over one million dollars under the guidance of Gala Chair Catherine Dangerfield and her amazing gala committee.

Funds raised allow the Museum to enhance its’ Special Exhibitions and Permanent Collection, while offering a wide variety of educational opportunities and engagement experiences for children and adults alike.

These successes over the course of 12 months are only possible with the support of our Founders, Trustees, members, volunteers, the Audain Art Museum Foundation, the Audain Foundation, corporate sponsors, and supporters. Thank you for your unwavering commitment to our shared vision of artistic excellence. We look forward to seeing you again in 2025!

Audain Art Museum Chair Rob Bruno

Audain Art Museum Director & Chief Curator Dr. Curtis Collins

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SPECIAL EXHIBITIONS Manabu Ikeda: Flowers from the Wreckage June 24 - October 9, 2023 Tom & Teresa Gautreau Galleries June 24 - September 11, 2023 Upper Galleries

Karen Bubaš: Garden of Shadows September 23, 2023 - January 29, 2024 Upper Galleries

Gathie Falk: Revelations November 25, 2023 – May 6, 2024 Tom & Teresa Gautreau Galleries

Otherwise Disregarded April 21 – September 9, 2024 Upper Galleries

Tom Thomson: North Star June 29 – October 14, 2024 Tom & Teresa Gautreau Galleries

AAM visitors admiring Gathie Falk, Night Sky #3 , 1979, oil on canvas, Private Collection Gathie Falk, Lizzie, 2002, bronze on steel base, National Gallery of Canada

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M A N A B U I K E DA

F L OW E R S FROM THE

W R E C K AG E June 24 - October 9, 2023 Tom & Teresa Gautreau Galleries June 24 - September 11, 2023 Upper Galleries Manabu Ikeda: Flowers from the Wreckage showcased the stunning pen-and-ink drawings of Japanese artist Manabu Ikeda, known for his meticulous detail and thought-provoking imagery. Through his work, Ikeda explored themes of environmental disasters, grief, and human resilience, drawing attention to the uncontrollable forces of nature and the impact of catastrophic events. Curated by Kiriko Watanabe, the Gail & Stephen A Jarislowsky Curator at the Audain Art Museum, this retrospective marked Ikeda’s first solo exhibition in North America consisting of over 60 works from national and international collections.

Presenting Sponsor The Audain Foundation Major Sponsor April 1 Foundation Supporting Sponsors Michael & Inna O’Brian

Family Foundation Generously Supported by The Japan Foundation Susan I. Roop Hotel Partner Fairmont Chateau Whistler Printing Partner Hemlock Transportation Partner Total Fine Arts Manabu Ikeda, Propeller Flowers, 2017, pencil, pen, acrylic ink and transparent watercolour on paper, mounted on board, Saga Prefectural Art Museum

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KARIN BUBAŠ

GARDEN OF SHADOWS September 23, 2023 - January 29, 2024 Upper Galleries Garden of Shadows is an exploration of Karin Bubaš’ ongoing Studies of Women in Landscapes series, featuring enigmatic photographs of women in remote outdoor settings, alongside her innovative photographic sculptures that layer images to depict West Coast forests and floral arrangements. Both types of work invite viewers to contemplate the hidden aspects of nature and human experience.

Karin Bubaš: Garden of Shadows, the first solo exhibition by Bubaš, opened in the Museum’s Upper Galleries on September 23, with the artist in attendance. In Bubaš’ photographs, the interplay between figures and landscapes, as well as the relationship between nature and culture, blurs the line between reality and illusion. The aesthetic exploration showcased in Bubaš’ works challenges of perceptions and invites viewers to immerse themselves in contemplation.

Generously Supported by Janet & Chris Bowell Anne Ferreira

Jane Irwin & Ross Hill

Karin Bubaš, Woman at Blue Lagoon, 2019, archival pigment print

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November 25, 2023 – May 6, 2024 Tom & Teresa Gautreau Galleries Gathie Falk: Revelations offers a journey through time as visitors explore the life’s work of a renowned Canadian artist. Opening on November 25, this Special Exhibition delivered an extraordinary experience, inviting art enthusiasts, collectors and the culturally curious to delve into the rich tapestry of Falk’s artistic legacy.

Curated by Sarah Milroy, Executive Director and Chief Curator of the McMichael Canadian Art Collection, Gathie Falk: Revelations is drawn from public, corporate and private collections across Canada and is organized and circulated by the McMichael Canadian Art Collection. Among the exhibition’s highlights are The Problem with Wedding Veils (2010-2011), Red Angel (1977), Picnic with Dog (1976) and 168 Apples (1969).

Major Sponsor Supporting Sponsors

Additional Support Hotel Sponsor Government Sponsor

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Polygon Burgundy Asset Management Ltd. Grosvenor Andy Sylvester Terrance and Lisa Turner Fairmont Chateau Whistler The Government of Canada

Gathie Falk, Eighteen Pairs of Red Shoes with Roses, 1973 red-glazed ceramic with decals, National Gallery of Canada

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Otherwise Disregarded Capture Photography Festival Adad Hannah, Jake Kimble, Michelle Sound and Jin-me Yoon April 21 – September 9, 2024 Upper Galleries

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In a time of profound change, the four artists featured in Otherwise Disregarded harness the transformative power of art to nurture creative expression, challenge notions of justice, and foster a deep connection between the mind, body, and society at large. They use visual tools for selfreflection, addressing complex social, political, and environmental issues that should not be dismissed.

This Capture Photography Exhibition presents compelling photographic and video works that invite viewers to reflect deeply on the current state of the world. It confronts the painful legacies of colonial injustice, social discrimination, intergenerational trauma, and environmental devastation, advocating for accountability, and a sustainable future.

Co-organized by the Audain Art Museum and Capture Photography Festival, and curated by Kiriko Watanabe and Emmy Lee Wall.

Presenting Sponsor Generously Supported by

RAB Foundation Scandinave Spa Whistler

Installation view of Otherwise Disregarded in partnership with Capture Photography Festival featuring the works of Jake Kimble

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June 29 – October 14, 2024 Tom & Teresa Gautreau Galleries Tom Thomson’s catalytic achievement changed the face of Canadian painting forever. The subject of many catalogues, books, plays, musical compositions, films and exhibitions, Thomson has a canonical place in Canadian culture, and each generation must reckon with his legacy anew, bringing to bear the fresh perspectives of their time. Gathering selected works from the leading collections of the McMichael Canadian Art Collection and the National Gallery of Canada, as well as a host of other Canadian museums and private collections, Tom Thomson: North Star, organized and circulated by the McMichael Canadian Art Collection, provides a fresh view of one of Canada’s most luminary talents for audiences across the country.

This exhibition is an account of Thomson fit for the 21st century, offering a close look at Thomson’s legacy, focusing on the small en plein air oil sketch, of which he is the supreme master.

Presenting Sponsor The Audain Foundation Major Sponsor D.R. Sobey Foundation Supporting Sponsors Heffel Fine Art Auction House Toys R Us VBCE Generously supported by Sue I. Roop Government Sponsors The Resort Municipality of Whistler The Government of Canada Hotel Sponsor The Fairmont Chateau Whistler

Founder Michael Audain and Dr. Curtis Collins, Director & Chief Curator admiring the Tom Thomson: North Star exhibit

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TOURING EXHIBITIONS NATIONAL TOUR Wolves: The Art of Dempsey Bob Montreal Museum of Fine Arts, Montreal, Quebec May 15 – September 10, 2023 Kelowna Art Gallery, Kelowna, British Columbia October 14, 2023 – February 18, 2024 INTERNATIONAL TOUR Manabu Ikeda: Flowers from the Wreckage Museum of Contemporary Art (moCa), Cleveland, Ohio February 2 – May 26, 2024

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Wolves: The Art of Dempsey Bob ATTENDANCE

AUDAIN ART MUSEUM

15,429 MONTREAL MUSEUM OF FINE ARTS

6,663 KELOWNA ART GALLERY

6,729 Manabu Ikeda: Flowers from the Wreckage ATTENDANCE

AUDAIN ART MUSEUM

20,142 MUSEUM OF CONTEMPORARY ART

11,212 Dempsey Bob with his sisters and family at the opening of Wolves: The Art of Dempsey Bob at the AAM

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PERMANENT COLLECTION The Permanent Collection is an essential component of the Audain Art Museum, underpinning scholarship, fostering engagement, and shaping future growth. The AAM’s exceptional holding of visual art from British Columbia’s coastal region exemplifies this, offering deep insights into the creative minds of the region’s most gifted and influential artists.

Throughout the fiscal year, the Museum’s collection grew significantly through notable acquisitions supported by the Audain Art Museum Acquisition Fund, contributions from the Audain Foundation, and generous donors, including Michael Audain, Yoshiko Karasawa, and Joan Tuey. A highlight was Emily Carr’s watercolor War Canoes, Alert Bay c. 1908, complementing the Museum’s oil-oncanvas version.

The Museum’s Art Acquisition Committee, chaired

by Martha Sturdy and including Michael Audain, Tom Gautreau, and Emmy Lee Wall, guides the strategic development of the collection. Their focus is acquiring works by British Columbian artists with national and international acclaim, ensuring every addition meets the highest standards.

Beyond building its collection, the Museum actively engages in the cultural dialogue by lending and borrowing artworks for major exhibitions, fostering connections with private, corporate, and institutional lenders worldwide.

Adad Hannah, What Fools These Mortals Be, 2022, three channel 4k video with stereo sound, 1 of 3 edition, Donated by the Artist

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AQUISITIONS

2023-2024 Acquisitions

Douglas Coupland Tobacco Iceberg, 2023 oil and acrylic on canvas Purchased with Audain Art Museum Acquisition Fund

Manabu Ikeda Five Windows, 2023 pen, acrylic ink, pencil and transparent watercolour on paper, mounted on board Gift of Michael Audain and Yoshiko Karasawa

Dana Claxton NDN Ironworkers Tool Still Life, 2018 photographic print, mounted on dibond Purchased with Audain Art Museum Acquisition Fund Jin-me Yoon Untitled 9 (Long Time So Long), 2022 inkjet print Purchased with Audain Art Museum Acquisition Fund

Jan Wade Served Coloured Entrance, 2023 paint, found objects, vessel Purchased with funds from the Audain Foundation Ann Kipling Self Portrait, 1967 ink on paper Purchased with funds from the Audain Foundation

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Emily Carr War Canoes, Alert Bay, c. 1908 watercolour on paper Acquired with funds from Michael Audain and Yoshiko Karasawa

Michael Nicoll Yahgulanaas Gwaa, 2024 acrylic on canvas Acquired with funds from Michael Audain and Yoshiko Karasawa

Mungo Martin Kingfisher Mask, c. 1947 red cedar, cedar bark, paint Gift of the Tuck and Ward Families

“I think that one’s art is a growth inside one. I do not think one can explain growth.

It is silent and subtle. One does not keep digging up a plant to see how it grows.”

- Emily Carr

Mungo Martin Untilted, before 1950’s copper Gift of the Tuck and Ward Families Mungo Martin (designer) and Abaya Martin (weaver) Chilkat Apron, c. 1958 wool fibre, dye, fibre Gift of the Tuck and Ward Families Gordon Smith Summer Pond, 2002 acrylic on canvas Gift of Joan Tuey

Adad Hannah What Fools These Mortals Be, 2022 three channel 4k video with stereo sound, 1 of 3 edition Gift of the Artist 20

PROMISED GIFT Gathie Falk Night Sky # 3, 1979 oil on canvas Gift of Patricia Charles in memory of Richard Charles

Collection of Chris Bredt and Jamie Cameron Dempsey Bob Beaver Eagle Mask, 1989 alder, acrylic paint, fur Collection of Cheryl Gottselig, QC and Yves Trépanier, Calgary Dempsey Bob Transformation, 2011 yellow cedar Private Collection Dempsey Bob The Smart One, 1989 alder, beaver fur, acrylic paint Dempsey Bob Eagles and Bears, 2017 alder Equinox Gallery Dempsey Bob Bear Chief’s Box, 2017 red and yellow cedar

LOANS 2023-2024 National and International Loans

Dempsey Bob Beavers Traveling, 2014 alder, operculum shells, acrylic paint

INCOMING LOAN Collection of Ken Fowler and Family Dempsey Bob Eagle Transformation Mask, 2013 yellow cedar, acrylic paint, horsehair, mirror

Dempsey Bob Eagle Mask, 2001 bronze, edition 4 of 6

Collection of Brian and Trish Hurl Dempsey Bob Raven Following the Salmon, 2016 birch Canadian Museum of History, Gatineau Dempsey Bob Hawk Portrait Mask, c. 1974 alder, synthetic fibre, acrylic paint Dempsey Bob Raven Forehead Mask, c. 1973 alder, abalone, copper, synthetic fibre, textile, ermine skin, ermine fur Dempsey Bob Killer Whale Helmet, 1986 alder, acrylic paint, hair

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Collection of Vida Foubister and Tim van Biesen Dempsey Bob Listen to the Frogs, 2018 alder, acrylic paint Private Collection Dempsey Bob Hine Moana Canoe Bailer, 2022 alder Collection of Eric Savics Dempsey Bob The Eagle Forehead Mask, 1996 alder, acrylic paint, horse hair Dempsey and Linda Bob Eagle Chief’s Robe, c. 1992 melton, leather, abalone shell buttons, acrylic paint, deer hooves Dempsey Bob Eagle Chief’s Rattle, 1992 alder, acrylic paint, leather, ermine fur, lead shot, beads

Dempsey Bob Raven Rattle, 1996 alder, acrylic paint, leather, lead shot, beads Dempsey Bob and Linda Bob Knife Sheath, 1992 melton, glass meads Dempsey Bob Wolf Chief’s Hat, c. 1993 red cedar, acrylic paint, operculum, horse hair, leather, ermine Dempsey Bob Frog’s World, c. 2006 alder, acrylic paint Dempsey Bob Eagle Human Vessel, 2009 birch Dempsey Bob Hawk Human Portrait Mask, 2003 totara, acrylic paint Dempsey Bob Wolf Eagle Fontlet, 1996 alder, acrylic paint, abalone shell, sea lion whiskers Dempsey Bob Bears Mask, 2006 alder, acrylic paint, operculum shell Dempsey Bob Raven and Frog Mask, 1997 alder, acrylic paint Dempsey Bob Wolf Human Mask, 1992 alder, acrylic paint Dempsey Bob Chief’s Headdress-Human, 1993 alder, acrylic paint, abalone shell, ermine fur, melton Dempsey Bob Frog Bowl and Raven Spoon, c. 1992 alder, acrylic paint Dempsey Bob Killer Whale Portrait Mask, 2001 alder, acrylic paint Dempsey Bob Killer Whale Forehead Mask, c. 1997 alder

Dempsey Bob Wolf, Eagle and Human Mask, 1997 alder, acrylic paint Dempsey Bob War Boss, 2011 yellow cedar, operculum, acrylic paint Dempsey Bob Killer Whale Headdress, c. 1998 bronze, edition 6 of 6 Private Collection Dempsey Bob Wolf Headdress, 1988-89 alder, acrylic paint, fur, operculum shell Dempsey Bob Raven and Frog Headdress, 1988-89 alder, acrylic paint, abalone shell, horse hair Glenbow Museum, Calgary Dempsey Bob Sculpin Bowl, 1980 alder, acrylic paint Private Collection Dempsey Bob Little Frog Sculpture, 1989 alder, acrylic paint, horse hair Indigenous Art Collection, crown-Indigenous Relations and Northern Affairs Dempsey Bob Young Killer Whale Mask, 1986 yellow cedar, alder, acrylic paint, human hair, moose hide

Mandalay Investments Inc. Dempsey Bob Khoh Dene, 2017 yellow cedar McMichael Canadian Art Collection Dempsey Bob Shark/Human Mask, 1997 alder, acrylic paint Dempsey Bob and Linda Bob Wolves in the Snow Blanket, 1999-2002 felt, wolf fur, buttons, thread, alder wood, acrylic paint, leather fastenings Museum of Anthropology Dempsey Bob Bear Mother, 2012 yellow cedar, operculum shell, acrylic paint

Collection of Paula Palyga and David Demers Dempsey Bob Frog Raven Forehead Mask, 2007 alder, acrylic paint Collection of Rod and Kira Dales Dempsey Bob Raven Frog Chief’s Hat, 1988-89 alder, ermine, acrylic paint, ermine fur, sealion whiskers Dempsey Bob Mosquito Mask, 1989 alder, acrylic paint, sealion whiskers Dempsey Bob Rain Frogs, 2012 yellow cedar

Dempsey Bob Eagle-Human Mask, 1987 alder, yellow cedar, acrylic paint, hair, leather, wax, fibre, metal, adhesive, glass Dempsey Bob Eagle-Chief’s Hat, 1982 red and yellow cedar wood, acrylic paint, hair, leather, metal, adhesive Dempsey Bob Killer Whale Headdress, 1987 alder, abalone shell, acrylic paint, hair, adhesive Dempsey Bob People’s Moon Mask, 1980 alder, abalone shell, hair, acrylic paint Dempsey Bob Raven and the Box of Daylight, 2013 red cedar, yellow cedar, acrylic paint Dempsey Bob Eagle-Bear Mask, 1987 alder, acrylic paint, black bear fur National Gallery of Canada Dempsey Bob Eagles North, 2013 yellow cedar, acrylic paint Dempsey Bob Wolf Warrior Helmet and Visor, 2014 alder, operculum shells, horse hair, acrylic paint

Royal Ontario Museum Dempsey Bob Blanket, Raven and Salmon, 1985 cloth, wool, buttons, beads Stephen Jarislowsky Dempsey Bob Frog Dance Staff, 2013 yellow cedar Private Collection Dempsey Bob Old Woman Mask, 1974 alder, moose antler, copper, abalone, human hair, moose hide Private Collection Dempsey Bob Frog Stories, 2017 alder, acrylic paint

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Vancouver Art Gallery Dempsey Bob Eagle Mask, 2000 alder, acrylic paint Dempsey Bob Eagle and the Bear People, 2013 yellow cedar Dempsey Bob Eagle, Hawk and Humans Mask, 2011 yellow cedar Dempsey Bob Eagle Mask, 2017 alder, acrylic paint, horse hair Royal BC Museum James Hart Dogfish Screen, 1979 red cedar, pigment Madrona Gallery James Hart Wasco, 1998-99 red cedar, pigment, horsehair, copper Collection of Jarrod and Mary Levitan Karin Bubaš Icelandic Poppies, 2022 laser-cut archival pigment prints, archival foam core, adhesive

Courtesy of the Artist, and Monte Clark Gallery, Vancouver Karin Bubaš Coral Rose in Glass Jar (Moonlight), 2019 laser-cut archival pigment prints archival foam core, adhesive Karin Bubaš Woman in Dahlia Field, 2022 archival pigment print Karin Bubaš Woman and Autumn Garden, 2023 archival pigment print Karin Bubaš Woman and Sunflowers, 2022 archival pigment print with matte laminate, edition 1 of 6 Karin Bubaš Woman in Black Rock Cave, 2021-22 archival pigment print, edition 1 of 6 Karin Bubaš Woman and Glacier (Iceland), 2020 archival pigment print Collection of Clark Kedziora and Jasmina Egeler Karin Bubaš Silversword Seascape, 2013 archival pigment print, AP 1 Collection of Dwight Mann Karin Bubaš Woman at Blue Lagoon, 2019 archival pigment print, edition 1 of 8 Karin Bubaš Woman and Airplane Wreckage, 2023 archival pigment print Collection of Janet Hiebert Karin Bubaš Yellow Ranunculus in Black Vase, 2019 laser-cut archival pigment prints, archival foam core, adhesive

Collection of Lucia Lundin Karin Bubaš Woman on Bench, 2006 archival pigment print

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Collection of John and Debbie Hungerford Karin Bubaš Woman in Leopard Dress, 2013 archival pigment print with matte UV laminate

Collection of Jane Irwin and Ross Hill Karin Bubaš Ranunculus on Red, 2022 laser-cut archival pigment prints, archival foam core, adhesive

Collection of Chris and Janet Bowell Karin Bubaš Woman with Rope Braid, 2014 archival pigment prints Collection of Osler, Hoskin and Harcourt LLP. Karin Bubaš Mossy Tree Branches and Collapsed Tree, 2014-15 laser-cut archival pigment prints, archival foam core, adhesive Karin Bubaš Early Summer Forest Growth, 20142015 laser-cut archival pigment prints, archival foam core, adhesive Collection of Polygon Homes Ltd. Karin Bubaš Late Summer Forest No. 1, 2015 archival pigment print Collection of Randy and Patricia Bartsch Karin Bubaš Old Growth Stump and Diagonal Log, 2022 laser-cut archival pigment prints, archival foam core, adhesive Collection of Ross and Melissa Bonetti Karin Bubaš Woman with Hollowed Tree, 2016 archival pigment prints, edition 5 of 6

Chazen Museum of Art, University of Wisconsin Manabu Ikeda くさかまきり Grass Mantis 2004 pen and acrylic ink on paper

Manabu Ikeda 航路 Waterway, 2008 pen and acrylic ink on paper, mounted on board

Private Collection Manabu Ikeda スキー武者（興亡史より）Ski Warrior (Episode from History of Rise and Fall), 2006 pen and acrylic ink on paper, mounted on board

Manabu Ikeda Meltdown 2013 pen and acrylic ink on paper, mounted on board

Manabu Ikeda 誕生 Rebirth, 2013–2016 pen, acrylic ink, and transparent watercolour on paper, mounted on board

Collection of Chinami Nakajima Manabu Ikeda 森 Forest, 1998 pen on paper, mounted on board

Manabu Ikeda プロペラの花 Propeller Flowers, 2017 pencil, pen, acrylic ink, and transparent watercolour on paper

Courtesy of Mizuma Art Gallery Manabu Ikeda 青い侍（興亡史より）Samurai Blue (Episode from History of Rise and Fall), 2006 pen and acrylic ink on paper, mounted on board

Collection of Kazuhito Igarashi Manabu Ikeda 紙武者 Paper Warrior (Episode from History of Rise and Fall), 2006 pen and acrylic ink on paper, mounted on board

Manabu Ikeda 生命の花 Flowers of Life, 2017 pencil, pen, acrylic ink, and transparent watercolour on paper

Manabu Ikeda 海の階段 Sea Stairs 2010 pen and acrylic ink on paper, mounted on board

Manabu Ikeda がれきの花 Flowers of Wreckage, 2017 pencil, pen, acrylic ink, and transparent watercolour on paper

Manabu Ikeda 居住区 Settlement, 2009 pen and acrylic ink on paper

Collection of Kazunari Hirota Manabu Ikeda はなかまきり Flower Mantis, 2004 pen and acrylic ink on paper Collection of The Obuse Museum The Nakajima Chinami Gallery Manabu Ikeda 巌ノ王 King of Rocks, 1998 pen on paper, mounted on board Private Collection of Takashi Kaneko, on deposit at Saga Prefectural Art Museum, Saga, Japan Manabu Ikeda けもの隠れ Refugee of the Wild, 1999 pen on paper, mounted on board Private Collection Manabu Ikeda ブッダ Buddha, 2000 pen and acrylic ink on paper, mounted on board Collection of Saga Prefectural Art Museum, Saga, Japan Manabu Ikeda 記憶 Memories, 2002 pen and acrylic ink on paper Manabu Ikeda 氷窟 Ice Cavern, 2010 pen and acrylic ink on paper, mounted on board

Collection of Michael and Joan Salke and The Salke Family Trust Manabu Ikeda 存在 Existence, 2004 pen and acrylic ink on paper, mounted on board Takahashi Ryutaro Collection Manabu Ikeda 興亡史 History of Rise and Fall, 2006 pen and acrylic ink on paper, mounted on board

Manabu Ikeda 放射能の花 Radiation Flowers, 2017 pencil, pen, acrylic ink, and transparent watercolour on paper

Manabu Ikeda 領域 Territory, 2004 pen and acrylic ink on paper, mounted on board

Manabu Ikeda 開墾 Reclamation, 2017 pencil, pen, acrylic ink, and transparent watercolour on paper

Collection of Mori Art Museum, Tokyo, Japan Manabu Ikeda 方舟 Ark, 2005 pen and acrylic ink on paper, mounted on board

Collection of Seán W. McCarthy Manabu Ikeda 二の丸御殿（興亡史より）Ninomaru Palace (Episode from History of Rise and Fall), 2007 pen and acrylic ink on paper, mounted on board

Private Collection Manabu Ikeda 灯台 Lighthouse, 2009 pen and acrylic ink on paper, mounted on board

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Private Collection Manabu Ikeda 蛸 Octopus, 2004 pen and acrylic ink on paper, mounted on board

Collection of Scott Mueller Manabu Ikeda 爪痕 Claw Marks 2010 pen and acrylic ink on paper, mounted on board Manabu Ikeda Untitled, 2013 pencil on paper, mounted on board Manabu Ikeda Green Expressions, 2019 pen, acrylic ink, and transparent watercolour on paper, mounted on board

Private Collection, New York Manabu Ikeda Victim, 2009 pen and acrylic ink on paper, mounted on board Manabu Ikeda 氷流（予兆より）Ice Stream (Episode from Foretoken), 2009 pen and acrylic ink on paper, mounted on board Collection of Koji Nakao Manabu Ikeda Bait, 2010 pen and acrylic ink on paper, mounted on board Collection of Harvey Sawikin and Andrea Krantz Manabu Ikeda ふたつの水面 Two Water Surfaces, 2010 pen and acrylic ink on paper, mounted on board Manabu Ikeda 痕跡 Imprint, 2011 pen and acrylic ink on paper, mounted on board Manabu Ikeda 嘆きの花 Flowers of Grief, 2019 pencil, pen, acrylic ink, and transparent watercolour on paper, mounted on board Private Collection, Vancouver Manabu Ikeda Waves, 2010 pen and acrylic ink on paper 25

Manabu Ikeda Red Flower, 2020 pen, acrylic ink, transparent watercolour and coloured pencil on paper Private Collection Manabu Ikeda Gate, 2010 pen and acrylic ink on paper, mounted on board

Collection of Anthony Santoso Manabu Ikeda 枯渇 Exhaustion, 2020 pencil, pen, acrylic ink, and transparent watercolour on paper Private Collection Manabu Ikeda 蓬莱山 Mt. Horai, 2021 pen, acrylic ink, and transparent watercolour on paper, mounted on board Collection of Michael Audain and Yoshiko Karasawa Manabu Ikeda Three Surfaces, 2021 pen, acrylic ink, and transparent watercolour on paper, mounted on board Manabu Ikeda Maple City 2013 pencil on paper, mounted on board

Collection of Sustainable Investor Co., Ltd. (Kagura Salon) Manabu Ikeda 予兆 Foretoken, 2008 pen and acrylic ink on paper, mounted on board Collection of Mr. Masanari Matsui Manabu Ikeda 終着 Terminal, 2009 pen, acrylic ink on paper, mounted on board Private Collection Radsch Endowment Fund purchase Manabu Ikeda 山と雲 Mountain and Clouds, 2012 pen and acrylic ink on paper, mounted on board Collection of Mr. Shigeru Yasuda Manabu Ikeda 起点II Terminal II, 2013 pen, acrylic ink on paper Private Collection Manabu Ikeda Wire Willow, 2019 colored pencil, pen, acrylic ink, and transparent watercolor on paper, mounted on board

Private Collection, Whistler Manabu Ikeda In the Woods, 2013 pencil on paper, mounted on board Collection of Taku City, Sathreega, Japan Manabu Ikeda コヨーテ Canis latrans, 2008 pen and acrylic ink on paper Manabu Ikeda ニホンカモシカ Capricornis crispus, 2008 pen and acrylic ink on paper Manabu Ikeda ミゼットホース Equus ferus caballus, 2011 pen and acrylic ink on paper

Manabu Ikeda アフリカ タテガミヤマアラシ Hystrix cristata, 2013 pen and acrylic ink on paper

Jake Kimble Grow Up # 2, 2022 archival inkjet print mounted on dibond

Jin-me Yoon Hin Saek Piper 1 (Long Time So Long), 2022 inkjet print

Jake Kimble Grow Up # 3, 2022 archival inkjet print mounted on dibond

Jin-me Yoon Untitled 9 (Long Time So Long), 2022 inkjet print

Jake Kimble Grow Up # 19, 2022 archival inkjet print mounted on dibond

Manabu Ikeda マレーグマ Helarctos malayanus, 2010 pen and acrylic ink on paper Manabu Ikeda サーバル Leptailurus serval, 2006 pen and acrylic ink on paper Manabu Ikeda オオコノハズク Otus lempiji, 2009 pen and acrylic ink on paper

Jake Kimble I Bunt the Candle So the Candle Burnt Back, 2023 archival inkjet print mounted on ultramount

Jake Kimble I Want To be You When I Grow Up, 2023 archival inkjet print mounted on dibond Courtesy of Coleen and Howard Nemtin Michelle Sound Strawberry Creek, 2022 monochrome print on paper embroidery thread, seed beads, metallic pony beads

Manabu Ikeda カワセミ Alcedo atthis, 2010 pen and acrylic ink on paper Manabu Ikeda タンチョウ Grus japonensis, 2016 pen and acrylic ink on paper

Courtesy of the Burnaby Art Gallery Michelle Sound Second, 2022 monochrome print on paper, embroidery thread, cord, seed beads, dyed porcupine quills, dyed fox fur, vintage beads

Courtesy of Adad Hannah Adad Hannah What Fools These Mortals Be, 2022 3 channel 4K video with stereo sound

Jake Kimble Go Fix Yourself, 2021 archival inkjet print mounted on ultramount

Jin-me Yoon Inside broken Worlds, 2022 inkjet print

Jake Kimble When The Lights Come On That Means It’s Time to Go Home, 2023 archival inkjet print

Manabu Ikeda ヒツジ（コリデール）Ovis aries, 2014 pen and acrylic ink on paper

Collection of Gabrielle Campbell Jake Kimble Grow Up # 4, 2022 archival inkjet print mounted on dibond

Jin-me Yoon Prosthetic Portal 3, 2022 inkjet print

Collection of Robert Kardosh Jake Kimble Grow Up # 5, 2022 archival inkjet print mounted on dibond Jin-me Yoon Untitled 1 (Long Time So Long), 2022 inkjet print

Courtesy of Michelle Sound and Ceremonial/Art Michelle Sound Birthday, 2022 Monochrome print on paper, embroidery thread, seed beads, bakers twine, caribou tufting Michelle Sound Foster Care, 2022 Monochrome print on paper, embroidery thread, seed beads, intage beads, caribou tufting 26

PUBLICATIONS Curve! Women Carvers on the Northwest Coast Curve! Women Carvers on the Northwest Coast offers an extensive 80 year overview of wood and argillite carvings by Indigenous women artists from the Northwest Coast.

While these women have long been creators of poles, canoes, panels, and masks, their recognition outside their communities has often been limited compared to their male counterparts. Within their communities, however, they are esteemed for preserving traditional carving practices and sustaining the dances, songs, and ceremonies intertwined with visual art production. This publication, accompanying an exhibition at the Audain Art Museum, brings together a diverse range of sculptural works by Indigenous women, aiming to broaden the discourse surrounding carving in the region.

The exhibition and publication are co-curated by Dana Claxton—an artist, filmmaker, and head of the University of British Columbia’s Department of Art History, Visual Art and Theory—and Dr. Curtis Collins, the Audain Art Museum’s Director & Chief Curator. The book features commentaries by Skeena Reece, Dana Claxton, and Marika Swan, as well as interviews with artists Dale Marie Campbell and Mary Anne Barkhouse. It showcases over 120 artworks from public and private collections across North America.

Featured artists include: Ellen Neel (Kwakwaka’wakw, 1916–1966) Freda Diesing (Haida, 1925–2002) Doreen Jensen (Gitxsan, 1933–2009) Susan Point (Musqueam, b. 1952) Dale Marie Campbell (Tahltan, b. 1954) Marianne Nicolson (Kwakwaka’wakw, b. 1969) Arlene Ness (Gitxsan, b. 1971) Melanie Russ (Haida, b. 1977) Marika Swan (Nuu-chah-nulth, b. 1982) Morgan Asoyuf (Ts’msyen, b. 1984) Cori Savard (Haida, b. 1985) Cherish Alexander (Gitwangak, b. 1987) Stephanie Anderson (Wet’suwet’en, b. 1991) Veronica Waechter (Gitxsan, b. 1995) Curated by Dana Claxton and Dr. Curtis Collins, the publication features insightful commentaries, interviews, and essays.

Hardcover: 136 pages, full colour Dimensions: 10 x 11.75 x 0.5 inches Publisher: Figure 1 This publication is available for purchase at the Audain Art Museum Shop.

Flicking through the pages of Curve!

Jewelry, mug, and Emily Carr blanket also available for sale in the Museum Shop

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RELATED PUBLICATIONS Pictures on the Wall “There are many ways to collect art, many motivations and points of departure. In my estimation, Michael Audain’s is of the socially beneficial variety: avid and personal enough to cultivate the eye, local and deep enough to generate knowledge. Would that his approach were more common. This generous book shows how it’s done.”

– Marc Mayer, CM, former director and CEO of the National Gallery of Canada Michael Audain’s passion for art began as a teenager, taping Bruegel reproductions to his dorm walls. Over decades, alongside his wife Yoshiko Karasawa, he built one of Canada’s most remarkable art collections. In Pictures on the Wall, Audain recounts his journey from tentative first acquisitions to donating much of the collection to the Audain Art Museum.

With humour and candor, Audain reflects on 75 transformative works that shaped his collection and deepened his love of art. These include Indigenous pieces that captivated him early on, Emily Carr paintings that sparked his lifelong admiration, Mexican modernist works inspired by his mural fascination, and Jean Paul Riopelle’s non-figurative paintings.

Each artwork is beautifully reproduced, accompanied by Audain’s engaging insights, offering inspiration for aspiring collectors and art enthusiasts alike.

Hardcover: 206 pages, full colour Dimensions: 11.5 x 10.5 x 1 inches Publisher: Douglas & McIntyre Author: Michael Audain This publication is available for purchase at the Audain Art Museum Shop.

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MUSEUM SHOP Nestled within Cressey Hall at the entrance of the Audain Art Museum, the Museum Shop showcases a captivating array of artisnal items, including handmade jewelry, stationery, pottery, woodwork, books, and art.

The shop exclusively features creators from British Columbia, highlighting artists from the Sea to Sky corridor, members of the Craft Council of British Columbia, and individuals represented in the Museum’s Permanent Collection. Merchandise is thoughtfully curated in-house, drawing inspiration from the distinctive Audain Art Museum brand, the Permanent Collection, and visiting Special Exhibitions. Over the past year, the shop has expanded its offerings of Audain Art Museumbranded and Collection-inspired products. For the Tom Thomson exhibition, an extensive range of merchandise was introduced, achieving significant success in sales.

Tom Thomson silk printed scarf. Available for purchase at the AAM shop

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PUBLIC ENGAGEMENT Museum Opening Events The Museum hosted exclusive opening events for Supporters, Founders, VIPs, and Members, fostering deeper engagement with exhibitions and strengthening community ties.

In November, Gathie Falk: Revelations opened with a private dinner for Supporters and a Founders & VIP Reception followed by a Members evening. The events celebrated Falk’s remarkable contributions to Canadian art and offered guests an intimate look at her work.

April marked the opening of Otherwise Disregarded, a collaboration with Capture Photography Festival.

A Founders & VIP Reception welcomed patrons and supporters for an exclusive exhibition experience, while a separate Members’ Opening featured guided tours and a discussion with curators Emmy Lee Wall and Kiriko Watanabe, alongside artists Adad Hannah, Jake Kimble, Michelle Sound, and Jin-Me Yoon.

In June 2024, Tom Thomson: North Star opened with a special Founders & VIP Reception, where sponsors, McMichael Canadian Art Collection members, and key supporters were treated to preview tours led by Sarah Milroy, Executive Director & Chief Curator of the McMichael. Milroy also led fully subscribed public tours during the opening weekend, providing guests with rich insights into the exhibition.

Beyond exhibition openings, AAM’s Founders & VIP programming offered exclusive opportunities for deeper engagement. In November, the Museum celebrated the launch of Pictures on the Wall with a discussion between Michael Audain and Dr. Curtis Collins, followed by an audience Q&A. This was complemented by RBCsponsored panel discussions in Vancouver and Toronto, where Stefan Hancherow, RBC Curator, joined experts to explore the art of collecting. In June, a guided architectural tour of Whistler homes culminated in a private AAM tour led by Patkau architect David Shone.

Public Engagement The Museum’s engagement initiatives provided dynamic opportunities for artistic exploration and cultural enrichment. Painting workshops with Angela Walsh Noble focused on refining technique, while Doria Moodie and Andrea Mueller guided participants through studies inspired by Tom Thomson: North Star. The Audain Artist Dinner Series offered an exclusive fusion of art, gastronomy, and fine wine, featuring guided exhibition tours alongside curated dining experiences.

Yoga at the Audain Art Museum fostered mindfulness within an inspiring architectural space, reinforcing the Museum’s commitment to holistic engagement and community well-being.

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Children painting during After School Art in the Schmidtke Studio.

Museum Tours Included with admission, public tours provide insights into the Permanent Collection and Special Exhibitions.

Due to high demand, Tom Thomson: North Star tours doubled in summer. Private tours offer exclusive experiences. Highlights included visits from artist Gathie Falk, and Minister of Tourism, Arts, Culture and Sport for British Columbia,The Honourable Lana Popham. These tours deepen visitor engagement with the Museum’s collections and exhibitions.

Youth Programming Supported by Alan Bell and Ola Dunin-Bell, the After School Art program combined thematic explorations of the collection with studio sessions, fostering artistic curiosity in young participants. Curriculum-aligned educational tours enriched students’ understanding of the Permanent Collection and Special Exhibitions, made possible through support from The Pemberton Valley Supermarket’s School Scholarship Fund and Martha Sturdy’s transportation grant. Youth workshops offered dynamic learning opportunities, with March Break programs featuring cubism and colour mixing with Elyse Feaver, watercolour with Angela Walsh Noble, and stone carving with Fathom Stone, while summer offerings like the Youth Architecture Camp encouraged hands-on exploration with the Zenga Brothers.

Community Support and Partnerships Throughout the year, the Museum collaborated with key community organizations to enhance cultural engagement and broaden public access to the arts.

In September, the Museum partnered with Tourism Whistler and Watermark Events to host the Whistler Wine Walks, offering guests a curated evening of gallery exploration, hors d’oeuvres, and wine tastings. December welcomed Bespoke Market, featuring over 30 artisans and attracting more than 700 visitors who enjoyed both the market and gallery access.

February saw two significant initiatives: Snowga, a yoga and sound bath experience in support of Protect Our Winters, raising awareness for climate action, and BC Family Day, generously sponsored by Glacier Media Inc. & Pique News Magazine. Families participated in art-making activities, scavenger hunts, vault tours, and an après gathering with DJ Foxy Moron, drawing over 100 visitors per hour.

In May, the AAM partnered with Arts Whistler for the Whistler Children’s Festival, offering free art-making activities and live readings in Cressey Hall. June’s Tourism Whistler Wellness Month featured weekend family fitness sessions on the North Terrace. The Museum also hosted the Whistler Chamber of Commerce’s final Après event of the season, providing a refined setting for networking and cultural engagement.

Closing the season in September, the Gran Fondo Sunday Slow Down blended art and wellness with guided meditation, restorative yoga, and exhibition tours, furthering the Museum’s role as a hub for immersive community experiences.

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2024 AUDAIN GALA & AUCTION The ninth annual Audain Gala was a landmark event, becoming the first to surpass $1,000,000 in funds raised. This extraordinary evening reinforced its reputation as a premier cultural event in Whistler and across British Columbia.

The night began with a performance by Arts Umbrella, followed by a welcome from Xwalacktun and remarks by Michael Audain and Dr. Curtis Collins. Guests enjoyed two unique photo opportunities, creating lasting mementos of the celebration, a thrilling paddle raise, and exhilarating live auction. The celebration concluded with cocktails and dancing at a lively afterparty.

The success of the 2024 Audain Gala underscores its vital role in supporting the Museum’s dynamic exhibitions and programs, fostering a thriving cultural community in British Columbia.

Presented by Hosted by Gold Sponsors Silver Sponsors Bronze Sponsors Live Auction Sponsors Photo Moment Sponsors Fine Art Insurance Fine Art Delivery Framing Sponsor Wine Selection Sponsor Design & Branding Print Sponsor Decor Sponsor Planning & Design

Nicola Wealth Fairmont Chateau Whistler Royal Bank of Canada Axiom Builders, Beedie Living, Range Rover Eric & Jenny Martin and Family, John Ryan Heffel Fine Art Auction House Dentons Acera insurance Denbigh Fine Art Services Kasko Mission Hill Family Estates Toolbox Hemlock Bespoke Decor Bliss Event + Design

Many thanks to the Audain Gala Committee CHAIR Catherine Dangerfield COMMITTEE Sue Adams Adriana Alvarez-Nichol Christine Boyle Geneviève Ciebien Lyndon Cormack Merilea Creighton Celia Dawson Nicholas Dhaliwal

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Tom Gautreau Ainsley Heffel Lauren Kratzer David Lewis Amy Mac Lauren Meeker Jim Moodie Justine Nichol Naomi Pitt Mónica Reyes Scott Sueme Robyn Ziebell

Curtis Collins, Catherine Dangerfield, Gloria Mackarenko and Fred Lee at the 2024 Audain Gala & Auction held at the Fairmont Chateau Whistler on April 12.

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AUDAIN PRIZE Rebecca Belmore 2024 Audain Prize for the Visual Arts Winner Rebecca Belmore, internationally renowned multidisciplinary artist and member of the Lac Seul First Nation, was awarded the 2024 Audain Prize for the Visual Arts. Her practice, rooted in the political and social realities of Indigenous communities, explores themes of place, identity, and resilience. Known for her evocative performance and installation works, Belmore has exhibited widely, including at the Audain Art Museum and the Venice Biennale. Her accolades include the Governor General’s Award in Visual and Media Arts and the Gershon Iskowitz Prize.

Belmore’s profound contributions to contemporary art solidify her legacy as a transformative voice in the field.

Rebecca Belmore, Force of Labour, 2020 (detail), mixed media. Installation created for Belmore’s exhibition RESERVOIR at the Audain Art Museum in 2021

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AUDAIN ART MUSEUM FOUNDATION Visionary Founders $1,000,000 + Christopher Foundation Chrystal Family Norman & Joan Cressey Tom & Teresa Gautreau Stephen Jarislowsky CC, GOQ & Gail Jarislowsky Yoshiko Karasawa Onni Group Distinguished Founders $500,000 – $999,999 David Aisenstat Jacques & Margaret Barbeau Robert & Fatima Bruno Sam & Sally Grippo Whistler Blackcomb Foundation Blenheim Trust Principal Founders $250,000 – $499,999 Andrew Mahon Foundation Suzanne Bolton & Jeff Mooney CM David, Patsy, Ryan & Joshua Heffel Robert, Jennifer & Ainsley Heffel McKercher Family Michael & Inna O’Brian Family Foundation Ralf & Helga Schmidtke Peeter & Mary Wesik Family Yosef Wosk OC, OBC Founders $100,000 – $249,999 Bob & Sue Adams Allard Family American Friends of Whistler Fenya Audain Kyra Audain Axiom Builders David Jacques Findlay Barbeau Paul Barbeau Dale & Suzanne Barron Allen W. Bell & Dr. Ola H. Dunin-Bell Peter Bentley OC, OBC & Sheila Bentley Peter Brown OBC & Joanne Brown Fred & Marian Bucci Cameron & Constance Cope Donald Ellis Fred Fountain CM & Elizabeth Fountain Genest Family Barry & Lauri Glotman Goudge Family Foundation Rick & Lauren Ilich Jake Kerr CM, OBC & Judy Kerr Hassan Khosrowshahi OC, OBC & Nezhat Khosrowshahi

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George & Karen Killy Phil Lind CM Lomas & Touchet Family Maché Family John & Rebecca Mackay Kevin & Jo-anne Mahon Eric & Jenny Martin Family Stuart & Della McLaughlin John & Dana Montalbano Jim & Doria Moodie Bob & Elisa Morse Christopher & Shelley Philps Resort Municipality of Whistler Robert H. Lee Foundation Seymour Investment Management Jeffrey Shier & Signy Eaton Carole Taylor OC, OBC Thornhill Family VBCE – Tony Ma Family Jack & Susy Wadsworth Charles & Dale Young

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SUPPORTERS $100,000 + Audain Foundation TD Bank $50,000 + April 1 Foundation Dixon Mitchell Investment Counsel D.R. Sobey Foundation $25,000 + Gordon & Leslie Diamond Foundation Heffel Foundation Andrew Mahon Foundation Nicola Wealth RBC Royal Bank Sue Roop VBCE Vancouver Bullion & Currency Exchange YP Heung Foundation

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$10,000 + Allen Bell & Ola Dunin-Bell Axiom Builders Beedie Living Robert Bruno & Fatima Dibiase Tim Dattels & Kristine Johnson Dentons Canada LLP Tom & Teresa Gautreau John Ryan Personal Real Estate Corporation Rand & Lynda Lomas Eric & Jennifer Martin Family Foundation McCarthy Tetrault LLP PI Financial Corp.

Range Rover Andre & Brock Rowland Jayne & Dane Touchet Toys R Us Canada Whistler Business Ventures

$5,000 + Acera Insurance Sue & Bob Adams Steven & Karen Bruk Etienne Bruson Guy & Jayne Darby Duncan J. Reid Law Corporation Peter Fan Fred & Elizabeth Fountain Jeff Fuller Louis-Vincent & Kelly Gave Glacier Media Group Carlotta Lee Carol Lee Mary & Jarrod Levitan Jim & Doria Moodie Christopher & Tara Poseley Stuart & Elaine Rempel Scott Seybold & Tammy Flynn Seybold Dermot Strong Martha Sturdy Ruth Tubbesing & Family Yosef Wosk Family Foundation

$2,500 + Jan & Mark Ballard Dave & Tamara Bustos Lyndon Cormack Merilea Creighton & Bruce Major Robin Du Brin & Douglas Howe Lindsay Eberts & Patti Paxton-Eberts Jennifer Hames-Beliveau & Mat Beliveau Don & Catherine Konantz Paul Larocque Harald & Sharlene Ludwig Jane MacDonald McKercher Family Coleen & Howard Nemtin Geoff & Janet Plant Michael Prout & Leonardo Lara Dr. Ron F. Regan Scandinave Spa Whistler Terrence & Lisa Turner Nada Vuksic Eileen Wheeler Steven Wilson & Michael Simmonds Bruce Munro Wright

GIFTS IN KIND Bespoke Decor Bliss Event + Design Corby Spirits Denbigh Fine Art Services Fairmont Chateau Whistler Heffel Fine Art Auction House Hemlock Printers Ltd. Kasko Frameworks Mission Hill Family Estate Toolbox Design Inc. GIFTS OF ARTWORK Michael Audain & Yoshiko Karasawa Adad Hannah Joan Tuey

The AAM gratefully acknowledges the support of the Resort Municipality of Whistler

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BOARD OF TRUSTEES Michael Audain OC, OBC Founder and Honourary Chair Rob Bruno Chair Chair, Nominations Committee Jim Moodie Vice-Chair Kyra Audain Treasurer Chair, Governance Committee Nancy Wilhelm-Morden KC Secretary Neil Chrystal Officer Tom Gautreau Officer Mayor Jack Crompton Trustee Ola Dunin-Bell Trustee Councillor Cathy Jewett Trustee Geoff Plant OBC, KC Vice-Chair, Historic Indigenous Art Committee Stuart Rempel Chair, Marketing Committee Chantal Shah Trustee Ben Smith Trustee Martha Sturdy Chair, Art Acquisitions Committee Carol Tsuyuki Trustee Emmy Lee Wall Trustee Xwalacktun OBC Vice-Chair, Historic Indigenous Art Committee

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VOLUNTEERS & COMMUNITY The Audain Art Museum’s growth and success are deeply rooted in the dedication and passion of its its Docents and volunteers, whose enthusiasm has been instrumental in delivering a wide array of knowledge and engagement initiatives. The Museum extends heartfelt gratitude to these invaluable contributors for their ongoing commitment and steadfast support.

Docents play a pivotal role in elevating the visitor experience by offering engaging and informative tours of both the Permanent Collection and Special Exhibitions. Their genuine passion for the art and their eagerness to share their knowledge create memorable and enriching experiences for Museum visitors.

The Audain Art Museum is proud to recognize the invaluable contributions of its Docents and volunteers, whose passion and expertise are at the heart of the Museum’s mission to share art with the world.

Docents Leslie Alexander Shep Alexander Merilea Creighton Nikkie Cordy Sarah Gallienne Carolyn Lawrie-Lie Janice (Jan) Mitchell Andrea Morton Sarah Renzoni Wilhelmina (Helma) Quinn-Leeman Christopher R Wilberg Marion Tipple

Event Volunteers Molly Adkin Evka Beresova Kee Cronin Karen Desmeules Teya Duggleby Julia Lodi Phoebe Turner

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ADMINISTRATION Dr. Curtis Collins Director & Chief Curator Brianna Beacom Director of Operations

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GUARDS & VISITOR SERVICES Sonya Lebovic Museum Shop & Admissions Manager

Jason Symes Head Guard

Ron Denessen Site Manager

Guards Robin Ferrier Jiri Foltyn Edit Jazal John Lee George McEwan Sean Rose Finn Saarinen Kurt Samer Carlos Urbina

Kiriko Watanabe Gail & Stephen A Jarislowsky Curator

Fiona Burke Accounting Assistant

Jackie Graham Chief Development Officer

Holly Bune Administrative Assistant

Elyse Feaver Engagement & Volunteer Manager

Cassidy Luteijn Assistant Curator

Theresa LeRose CPA, CGA Finance Manager

Ally Daly Event & Sales Coordinator

Hannah Putnam Marketing Manager

Michaela Morrissey Registrar

CASUAL & PREVIOUS PERSONNEL Laura Rudderforth Visitor Services & Membership Supervisor Visitor Services Azuza Akimoto Anne Armstrong Kirsti Blom Michael Brough Emily Peachman Tessa Spicer Hisae Yanagisawa

Event Assistants Liz Cobby Amanda Drage Zane Livina Rebecca MacKay Guards Trenton Hope Kurt Samer Visitor Services Emilie Desbiens Brandon Green Helen Judge Trista Staver Giselle Stephenson Jess Thorne

Docents Leslie Alexander Shep Alexander Merilea Creighton Nikkie Cordy Sarah Gallienne Carolyn Lawrie-Lie Janice (Jan) Mitchell Andrea Morton Sarah Renzoni Wilhelmina (Helma) Quinn-Leeman Christopher R Wilberg Marion Tipple Administration Sierra Gibson Kendra Mazur

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AUDITED FINANCIAL STATEMENTS Finaincial Statements of

AUDAIN ART MUSEUM And Independent Auditor’s Report thereon Year ended September 30, 2024

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KPMG LLP PO Box 10426 777 Dunsmuir Street Vancouver BC V7Y 1K3 Canada Telephone 604 691 3000 Fax 604 691 3031

INDEPENDENT AUDITOR’S REPORT To the Board of Trustees

Opinion We have audited the financial statements of Audain Art Museum (the “Entity”), which comprise: 

the statement of financial position as at September 30, 2024



the statement of operations for the year then ended



the statement of changes in net assets for the year then ended



the statement of cash flows for the year then ended



and notes to the financial statements, including a summary of significant accounting policies

(hereinafter referred to as the “financial statements”).

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Entity as at September 30, 2024, and its results of operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations.

Basis for Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of our auditor’s report.

We are independent of the Entity in accordance with the ethical requirements that are relevant to our audit of the financial statements in Canada and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with Canadian accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

KPMG LLP, an Ontario limited liability partnership and member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. KPMG Canada provides services to KPMG LLP.

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Audain Art Museum Page 2

In preparing the financial statements, management is responsible for assessing the Entity’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Entity’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit.

We also: 

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.



Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity’s internal control.



Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.



Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern.

If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern.

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Audain Art Museum Page 3



Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.



Communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Chartered Professional Accountants Vancouver, Canada February 28, 2025

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AUDAIN ART MUSEUM Statement of Financial Position

September 30, 2024, with comparative information for 2023 2024

2023

Assets Current assets: Cash Accounts receivable (notes 7(a)) Prepaid expenses and exhibition costs Sales tax receivable Inventories

$

Restricted cash (notes 2(b) and 3) Art collection (note 8) Tangible capital and intangible assets (note 2)

1,224,744 93,145 321,039 2,715 140,328 1,781,971

$

1,266,813 119,846 326,168 154,498 1,867,325

1,172,993 1 37,178,016

1,032,529 1 37,873,536

$ 40,132,981

$ 40,773,391

$

$

Liabilities and Net Assets Current liabilities: Accounts payable and accrued liabilities (note 6) Sales tax payable Deferred revenue Current portion of deferred contributions (note 3) Canada Emergency Business Account loan (note 11(a)) Deferred contributions (note 3) Deferred capital contributions (note 4) Net assets: Invested in capital assets (note 5(a)) Internally restricted - Building Fund (note 2(b)) Unrestricted

542,920 3,885 357,148 528,874 1,432,827

702,529 5,924 249,683 510,840 5,000 1,473,976

430,151 37,003,974 38,866,952

338,729 37,729,126 39,541,831

174,042 742,842 349,145 1,266,029

144,410 693,800 393,350 1,231,560

$ 40,132,981

$ 40,773,391

Commitments (note 9)

See accompanying notes to financial statements.

Approved on behalf of the Board:

Trustee

Trustee

1

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AUDAIN ART MUSEUM Statement of Operations

Year ended September 30, 2024, with comparative information for 2023 2024 Revenue: Admissions Amortization of deferred capital contributions (note 4) Donations - operations and other (note 7(a)) Donations - art acquisitions (note 7(a)) Engagement Facility rentals Fundraising gala event Grants Interest income Memberships Museum shop Audain Prize (note 7(a)) Other

$

Expenses: Amortization Art collection (note 8) Curatorial and exhibitions Engagement Fundraising Marketing Museum shop cost of sales Office and administrative Repairs and maintenance Salaries and benefits Audain Prize (note 7(a)) Excess (deficiency) of revenue over expenses Loss on disposal of capital assets Excess of revenue over expenses

$

See accompanying notes to financial statements.

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524,344 725,152 1,981,691 1,105,054 105,387 228,631 1,046,637 38,742 96,559 78,187 544,852 195,270 160,898 6,831,404

2023 $

442,842 787,463 2,081,603 2,695,957 84,607 178,339 1,019,159 115,059 54,830 68,145 616,404 195,225 104,980 8,444,613

771,132 1,180,128 604,650 79,995 313,943 211,977 296,341 443,159 556,032 2,168,824 170,754 6,796,935

777,265 2,762,986 608,806 78,563 288,864 240,788 301,249 382,304 761,182 1,937,125 171,182 8,310,314

34,469

(134,299)

-

47,220

34,469

$

87,079

AUDAIN ART MUSEUM Statement of Changes in Net Assets

Year ended September 30, 2024, with comparative information for 2023 Invested in capital assets

Internally restricted Building Fund

Unrestricted

2024 Total

2023 Total

$ 144,410

$ 693,800

$ 393,350

$ 1,231,560

$ 1,144,481

Excess (deficiency) of revenue over expenses

(45,980)

-

80,449

34,469

87,079

Net change in invested in capital assets

75,612

-

(75,612)

-

-

-

49,042

(49,042)

-

-

$ 174,042

$ 742,842

$ 349,145

$ 1,266,029

$ 1,231,560

(note 5)

Net assets, beginning of year

Interfund transfer (note 2(b)) Net assets, end of year

See accompanying notes to financial statements.

3

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AUDAIN ART MUSEUM Statement of Cash Flows

Year ended September 30, 2024, with comparative information for 2023 2024

2023

Cash provided by (used in): Operations: Excess of revenue over expenses Items not involving cash: Amortization of tangible capital and intangible assets Loss on disposal of assets Amortization of deferred capital contributions Changes in non-cash operating working capital: Accounts receivable Prepaid expenses and exhibition costs Sales tax receivable Inventories Accounts payable and accrued liabilities Sales tax payable Deferred revenue Deferred contributions

$

$

87,079

771,132 (725,152)

777,265 47,220 (787,463)

26,701 5,129 (2,715) 14,170 (159,609) (2,039) 107,465 109,456 179,007

168,846 (79,312) 13,421 (18,954) 8,072 3,351 (164,430) 91,197 146,292

(75,612) (75,612)

(95,763) 500,000 404,237

Financing: Repayment of Canada Emergency Business Account loan

(5,000)

(30,000)

Increase in cash and restricted cash

98,395

520,529

2,299,342

1,778,813

Investments: Purchase of tangible capital and intangible assets Redemption of short-term investment

Cash and restricted cash, beginning of year Cash and restricted cash, end of year

$

2,397,737

$

2,299,342

Non-cash transactions: Write-off of deferred capital contributions related capital assets disposed of

$

-

$

47,220

See accompanying notes to financial statements.

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34,469

AUDAIN ART MUSEUM Notes to Financial Statements

Year ended September 30, 2024

Purpose of the organization: The Audain Art Museum (the “Museum”) was incorporated on October 4, 2012 without share capital pursuant to the Canada Not-for-Profit Corporations Act. Effective January 7, 2013, the Museum obtained registered charity status under the Income Tax Act of Canada and is accordingly exempt from income taxes.

The objectives of the Museum are to establish and maintain an art gallery for the perpetual benefit of the Province of British Columbia and its citizens. The Museum is located in the Resort Municipality of Whistler, British Columbia and opened its doors to the public in March of 2016.

The Museum economically depends on the financial support of its donors and the Audain Art Museum Foundation (the “Foundation”). The Foundation is a separate legal entity with a purpose of receiving, holding and investing bequests, donations, funds, and property, the income of which supports the Museum’s mandate (note 7(b)).

1. Significant accounting policies: These financial statements have been prepared in accordance with Canadian Accounting Standards for Not-For-Profit Organizations under Part III of the CPA Canada Handbook Accounting and include the following significant accounting policies: (a) Cash: Cash consists of cash on hand and cash on deposit. (b) Prepaid exhibition costs: Prepaid exhibition costs consist of exhibition expenditures that have been paid by the Museum relating to exhibitions to be held subsequent to year-end. These expenditures are recognized as exhibition expenses over the duration of the exhibition. (c) Inventories: Inventories are comprised of books, jewelry, paper products, gifts, reproductions and clothing held-for-sale in the Museum Store and is stated at the lower of cost and net realizable value.

Cost is determined on a weighted average basis. Costs for inventories include all costs incurred in bringing inventories to their present location and condition. Net realizable value is defined as the anticipated selling price less the costs to sell. Any previous write-downs to net realizable value are reversed when there is a subsequent increase in the value of inventories. (d) Consignment goods: Consignment goods consist of merchandise provided by consignors to the Museum to be sold at the Museum Store. The consignors retain ownership of the merchandise until such time as it is sold at which time corresponding revenue and payable to the consignor is recorded in accordance with the revenue sharing model agreed to with each of the consignors. As a result, consignment goods are not recorded as inventory in these financial statements.

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AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

1. Significant accounting policies (continued): (e) Revenue recognition: The Museum follows the deferral method of accounting for contributions, which include donations, fundraising revenue and grants. Under this method of accounting, revenue received with specific external restrictions is deferred and recognized in the period the related expenses are incurred or the restrictions are met.

Contributions restricted and used for construction, development, or purchase of capital assets subject to amortization are initially recorded as deferred contributions and transferred to and recorded as deferred capital contributions when the amounts have been spent on capital assets. Deferred capital contributions are amortized into revenue on a straight-line basis, at a rate corresponding with the amortization rate for the related capital assets once amortization of the capital asset commences. Restricted contributions towards capital assets purchased not subject to amortization, such as land, are recorded as direct increases to net assets.

Unrestricted contributions are recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured.

The portions of membership fees and exhibition loan fees, which are included in other income if any, relating to future periods are deferred and amortized into revenue over the period of membership or exhibition.

Admissions, museum store sales, engagement revenue and facility rental revenue are recognized at the time the sales and rentals are made or program is delivered. (f) Tangible capital and intangible assets: Purchased and developed capital and intangible assets are initially recorded at cost.

Contributed capital assets are recorded at fair value at the date of contribution. Repairs and maintenance costs are charged to expense. Betterments that improve the service potential or extend the estimated life of an asset are capitalized.

Capital and intangible assets are amortized starting when they are available for productive use on a straight-line basis over the useful lives of the assets as follows: Asset

Rate

Buildings Building improvements Furniture, fixtures and equipment Computer equipment Computer software

57

60 years 10 - 20 years 5 - 10 years 3 - 5 years 3 years

6

AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

1. Significant accounting policies (continued): (f) Tangible capital and intangible assets (continued): The Museum reviews the carrying value of capital and intangible assets for impairment whenever events or changes in circumstances indicate that associated future economic benefits or service potential have been reduced. If such conditions exist, an impairment loss is measured at the amount by which the carrying amount of the asset exceeds its fair value or replacement costs and is recognized as an expense in the Statement of Operations. (g) Art collection: The Museum holds a collection (the “Collection”) of works of art for the perpetual benefit of current and future generations. The Collection is recorded as an asset at a nominal value of $1 due to the practical difficulties of determining a meaningful value for these assets. The cost of additions to the Museum’s works of art is charged as an expense in the year of acquisition (note 8). (h) Donated works of art, materials and services: The Museum may receive donated works of art, materials and services, including services from governance members and volunteers, the value of which is not reflected in these financial statements given the difficulty of determining the fair value. (i) Financial instruments: Financial instruments are recorded at fair value on initial recognition. Freestanding derivative instruments that are not in a qualifying hedging relationship and equity instruments that are quoted in an active market are subsequently measured at fair value. All other financial instruments are subsequently recorded at cost or amortized cost, unless management has elected to carry the instruments at fair value. The Museum has not elected to carry any such financial instruments at fair value.

Transaction costs incurred on the acquisition of financial instruments measured subsequently at fair value are expensed as incurred. All other financial instruments are adjusted by transaction costs incurred on acquisition and financing costs, which are amortized using the straight-line method.

Financial assets carried at cost or amortized cost are assessed for impairment on an annual basis at the end of the fiscal year if there are indicators of impairment. If there is an indicator of impairment, the Museum determines if there is a significant adverse change in the expected amount or timing of future cash flows from the financial asset. If there is a significant adverse change in the expected cash flows, the carrying value of the financial asset is reduced to the highest of the present value of the expected cash flows, the amount that could be realized from selling the financial asset or the amount the Museum expects to realize by exercising its right to any collateral. If events and circumstances reverse in a future period, an impairment loss will be reversed to the extent of the improvement, not exceeding the initial carrying value.

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AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

1. Significant accounting policies (continued): (j) Internally restricted net assets: Funds which have been internally restricted as approved by the Board of Trustees (the “Board”) to be used towards specified purposes are recorded as internally restricted net assets. Transfers are made to and from the internally restricted funds based on approved contributions into or spending out of the funds.

The Building Fund is restricted to be spent on future capital expenditures subject to approval by the Board. (k) Use of estimates: The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the year. Items requiring the use of management estimates include the determination of useful lives of tangible capital and intangible assets for purposes of amortization of such assets and related deferred capital contribution. Actual results may differ from these estimates.

2. Tangible capital and intangible assets:

Buildings Building improvements Furniture, fixtures and equipment Computer equipment Intangible assets: Computer software (c)

Cost

Accumulated amortization

2024 Net book value

2023 Net book value

$ 42,919,153 274,371

$ 6,146,618 87,080

$ 36,772,535 187,291

$ 37,489,143 201,009

1,003,075 214,922

937,582 130,853

65,493 84,069

41,505 75,664

95,648

27,020

68,628

66,215

$ 44,507,169

$ 7,329,153

$ 37,178,016

$ 37,873,536

(a) The Museum is situated on land leased from the Resort Municipality of Whistler for a nominal amount. The lease expires on July 7, 2212. Upon expiration of the lease, the building and all fixtures become the property of the municipality. The fair value of the lease is not recorded in these financial statements.

The Museum is also subject to the exemption of property taxes as approved by the municipality on an annual basis. The value of the exemption provided for the year ended September 30, 2024 was $248,273 (2023 - $229,969). The value of the exemption has not been recognized in these financial statements.

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8

AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

2. Tangible capital and intangible assets (continued): (b) The sale of the Vancouver condominium during the year ended September 30, 2021, resulted in $337,500 (comprised of unamortized deferred capital contributions related to the building of $227,952 and the gain on sale of $109,548) in deferred contributions externally restricted for future qualified capital expenditures along with $661,500 being internally restricted by the Board and transferred to establish the Building Fund (note 1(j)).

During the year ended September 30, 2024, interest of $49,042 (2023 - $27,008) was earned on these restricted assets and was internally restricted by the Board and transferred to the Building Fund. As the total sale proceeds of $999,000 plus interest are restricted for specified use, the amount plus interest has been presented as restricted cash on the Statement of Financial Position. (c) Intangible assets consisting of computer software of $66,215 (2023 - $66,215) is related to the development of a new customer relationship management software which will begin being amortized once the software is available for use, which is expected by summer 2025. All other computer software included in cost and accumulated amortization have been fully amortized but remain in use.

3. Deferred contributions: 2024 Balance, beginning of year Contributions received Amounts recognized to revenue

$

Current portion

849,569 467,759 (358,303) 959,025

2023 $

(528,874)

Non-current portion

$

430,151

758,372 337,700 (246,503) 849,569 (510,840)

$

338,729

The non-current portion of the deferred contributions are held as part of the restricted cash balance on the Statement of Financial Position.

4. Deferred capital contributions: 2024

2023

Balance, beginning of year Amounts amortized into revenue

$ 37,729,126 (725,152)

$ 38,516,589 (787,463)

Balance, end of year

$ 37,003,974

$ 37,729,126

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AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

5. Net assets invested in capital assets: (a) Invested in capital assets is calculated as follows: 2024 Capital assets Amounts financed by deferred capital contributions

2023

$

37,178,016 (37,003,974)

$

37,873,536 (37,729,126)

$

174,042

$

144,410

(b) Deficiency of revenue over expenses: 2024 Amortization of deferred capital contributions Amortization of capital assets Loss on disposal of capital assets

2023

$

725,152 (771,132) -

$

787,463 (777,265) (47,220)

$

(45,980)

$

(37,022)

(c) Change in net assets invested in capital assets: 2024 Purchase of capital assets

$

75,612

2023 $

95,763

6. Accounts payable and accrued liabilities: Included in accounts payable and accrued liabilities are government remittances payable of $9,541 (2023 - nil), which consists of employer health tax installments.

7. Related party transactions: (a) Audain Foundation and Michael Audain: During the year ended September 30, 2024, the Museum received $997,332 (2023 - $2,669,092) of donations from Michael Audain and $518,410 (2023 - $524,599) of donations from the Audain Foundation, of which Michael Audain, a trustee of the Museum, is the chairman. The amounts have been recognized in the statement of operations within donations - operations and other, and donations - art acquisitions, based on donor specified use of funds.

In addition, included within accounts receivable is $89,233 (2023 - $69,185) due from the Audain Foundation, which is predominantly related to the Audain Prize, which is an annual prize worth $100,000 and awarded to a senior British Columbia artist in recognition of their outstanding contributions to the arts.

61

10

AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

7. Related party transactions (continued): (a) Audain Foundation and Michael Audain (continued): The Museum received donations from the Audain Foundation in the amount of $195,270 (2023 - $195,225), representing costs associated with the award presentation along with the main prize. This amount also includes a management fee of $25,000 (2023 - $25,000) from the Foundation for the administration and presentation of the prizes. These amounts are presented on a gross basis in the statement of operations. (b) Audain Art Museum Foundation: The Foundation was incorporated in November 2013 under the Canada Not-for-Profit Corporations Act and is a registered charity under the Income Tax Act of Canada. The Foundation is a separate legal entity, and its purpose is to receive, hold and invest bequests, donations, funds, and property, the income from which supports the Museum’s mandate. The Museum and the Foundation are related by virtue of the Museum’s economic interest in the Foundation.

During the year ended September 30, 2024, the Museum received $1,443,031 (2023 - $1,344,100) of donations from the Foundation, which includes distributions related to the Audain Art Acquisition Fund and the newly established Building, Maintenance and Improvement Fund.

The Audain Art Acquisition Fund was established November 4, 2022 by way of an endowment through the Audain Foundation. During the year ended September 30, 2024, $126,800 (2023 - $92,700) was received in distributions and $134,491 (2023 - $50,980) is included in art acquisition revenue in the statement of operations.

The Building, Maintenance and Improvement Fund was established July 6, 2023 by way of an endowment through the Audain Foundation, During the year ended September 30, 2024, $127,000 was received in distributions and nil is included in the statement of operations.

Any amounts unspent related to the above funds are included within deferred contributions. (c) Board of Trustees: In addition to the amount described in 7(a), during the year ended September 30, 2024, the Museum received $39,400 (2023 - $78,000) of donations from members of the Board of Trustees. The amounts have been recognized in the statement of operations within donations - operations and other, based on donor specified use of funds.

8. Art collection: Art collection expense represents the cost of acquisitions, maintenance and insurance of artwork held by the Museum. The Museum’s art collection is comprised of original art work from Canadian artists. The Museum acquires artwork by purchase, gift and bequest. The cost of art acquisitions during the year ended September 30, 2024 totaled $1,105,054 (2023 - $2,695,957) and other expenses (including maintenance, insurance and appraisals) totaled $75,074 (2023 - $67,029).

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AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

9. Commitments: The Museum is committed to minimum annual lease payments under various operating leases for equipment as follows: 2025 2026 2027 2028 2029

$

4,309 4,309 4,309 4,309 2,154

$

19,390

10. Financial risks: (a) Liquidity risk: Liquidity risk is the risk that the Museum will be unable to fulfill its obligations on a timely basis or at a reasonable cost. The Museum manages its liquidity risk by monitoring its operating requirements. The Museum prepares budget and cash forecasts to ensure it has sufficient funds to fulfill its obligations. (b) Credit risk: Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Museum is not subject to any significant credit risks associated with its cash deposits as they are placed with reputable financial institutions. (c) Interest rate risk: Fixed rate instruments are subject to fair value risk while floating rate instruments are subject to cash flow risk. The Museum has a revolving line of credit of $250,000 bearing interest at a rate of prime plus 1%. As at September 30, 2024, nil (2023 - nil) was drawn against this line of credit. (d) Other: In management’s opinion, the Museum is not exposed to significant currency exchange rate, or other price risks related to its financial instruments.

There were no significant changes to the risk exposures from 2023.

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12

AUDAIN ART MUSEUM Notes to Financial Statements (continued) Year ended September 30, 2024

11. Canada Emergency Business Account Loan: The Canadian government introduced the Canada Emergency Business Account (“CEBA”) loan to assist organizations during the COVID-19 pandemic with non-deferrable expenses. During the year ended September 30, 2021, the Museum received the full $60,000 loan.

Up to $20,000 of the CEBA loan will be forgiven provided the outstanding balance is paid on or before January 18, 2024. As the Museum intends to repay the loan before January 18, 2024 the amount that will be forgiven was deemed to be government assistance and was recognized in grants revenue during the year ended September 30, 2021.

During the year ended September 30, 2024, the remaining balance of the loan in the amount of $5,000 was repaid.

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“All great art’s magical. That’s what attracts and fascinates.

Some people hear music in their heads. Some see films.

For me, for Yoshi, it’s art that speaks to us.”

- Michael Audain

Photo credits to: Holly Bune, Mirae Campbell, Jimmy Dow, Lindsay Elliott, Wings + Horns and Oisin McHugh 65

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audainartmuseum.com 604.962.0413 Location 4350 Blackcomb Way, PO Box 5 Whistler, BC Canada V8E 1N3

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Charitable Registration Number: 84648 0739 RR0001