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Message from the Board Chair........................................................................................................................................................1 Message from the Chief Executive Officer................................................................................................................................... 2 Board of Directors.............................................................................................................................................................................. 3 Toronto Symphony Foundation Trustees...................................................................................................................................... 4 Toronto Symphony Volunteer Committee Board....................................................................................................................... 5 Honorary Governors.......................................................................................................................................................................... 5 Toronto Symphony Orchestra......................................................................................................................................................... 6 2018/19 Season in Review................................................................................................................................................................7 In Honour of H. Thomas & Mary Beck ........................................................................................................................................ 10 TSO Donors........................................................................................................................................................................................11 Government Support...................................................................................................................................................................... 18 Corporate Partners.......................................................................................................................................................................... 18 The TSO’s Path to Lasting Financial Health................................................................................................................................ 19 Financial Statements........................................................................................................................................................................20 Notes to the Financial Statements............................................................................................................................................... 25 Administrative Staff..........................................................................................................................................................................28

Message from the Board Chair Change at the Toronto Symphony Orchestra began two years ago, and it has made our institution and Orchestra stronger and better. Our next goal is to become an even bigger part of Toronto.

In June, incoming Music Director Gustavo Gimeno gave our fans a thrill with three performances headlined by The Firebird. During his stay, he addressed our audiences, and made a great impression on patrons, donors, and the city at large. His energy and passion are abundant and extend wherever he goes. We welcomed him back this October with Beatrice Rana and are looking forward to seeing him again in April with Yuja Wang. Then, in 2020/21, he takes the helm. Sir Andrew Davis has spent much of his decorated professional life as our artistic leader, and we were privileged to have him with us in the role of Interim Artistic Director this past year. His mastery of the repertoire will again be on display throughout this season, which he will crown with a turn as soloist and conductor for Saint-Saëns’s “Organ” Symphony. Last season, we welcomed five new musicians, including an Associate Principal Clarinet and an Associate Principal Bassoon. They joined an Orchestra whose players are in demand on stage, as well as across the city, as performers and teachers who are making Toronto’s musical life more vibrant, varied, and exciting. In his first year, our CEO, Matthew Loden, has been focused on making the TSO a bigger part of the community. One highlight was our first-ever Relaxed Performance for a neurodiverse audience, who came to the hall and enjoyed what, in many cases, was their first orchestral experience. It received a universally positive response, and we are already looking forward to more Relaxed Performances in 2020. In March, we launched EVENING EPIC—an orchestral party that welcomed music lovers from all backgrounds in support of the TSO’s education programs, including our Youth Orchestra, who played a starring role in the evening. Matthew has also been leading the planning for Gustavo Gimeno’s arrival and shaping the TSO’s approach to reaching more Torontonians, lovers of music worldwide, and audiences seeking powerful and profound cultural

experiences. With these aims in mind, I am pleased to have recently announced a $10-million estate donation from my parents, Tom and Mary Beck. Over many decades, they were consistent champions of the Toronto Symphony Orchestra because they loved music and the musicians who play it. It was clear to them that music is part of our culture, what we do every day, and therefore at the heart of society. This donation, directed to the TSO and the Toronto Symphony Foundation, is a cornerstone for our present and future success. It ensures that, while we continue to solidify our current finances, we can take bold steps befitting our institutional goals and aspirations. This year, we closed with a surplus of $1.9 million and a reduction of the accumulated deficit from $11.8 million four years ago to $2.6 million. I am grateful to our longstanding and newfound donors for their generosity, and to my fellow Board members for their hard work and dedication in support of the Toronto Symphony Orchestra. Thank you as well to Tom MacMillan, Chair of the Toronto Symphony Foundation, for volunteering his time and expertise. Thank you to the TSO staff and the Toronto Symphony Volunteer Committee. To BMO, Season Presenting Sponsor for an eighth consecutive year, and to our government partners, the Canada Council for the Arts, the Ontario Arts Council, the City of Toronto, and the Ontario Cultural Attractions Fund—a heartfelt thank you from all of us at the Toronto Symphony Orchestra.

Catherine Beck Chair, Board of Directors


Message from the Chief Executive Officer I am pleased to report that the TSO has enjoyed a remarkable year. We announced an auspicious new era of artistic leadership, our musicians continued to demonstrate their superlative talents, and we began to grow our community engagement initiatives—all while remaining firmly grounded in responsible financial practices. The 2018/19 concert season began and ended with Gustavo Gimeno. In September, we announced his appointment as the TSO’s new Music Director, and, in June, audiences were given a tantalizing taste of his music-making in action. Our TSO season enjoyed many high points: The Orchestra performed for tens of thousands of students at our School Concerts. We established our signature fundraising event—EVENING EPIC. We took home a JUNO Award for the Chandos recording of Vaughan Williams: Orchestral Works, which was also nominated for a GRAMMY® Award. From Casablanca to Star Wars, we presented our ever-popular film concerts, with the TSO performing the scores live. The public was invited to Explore the Score at a reading session of works by upand-coming Canadian composers. And we engaged with underserved members of the community through our first Relaxed Performance for a neurodiverse audience. Extraordinary artistry has defined Sir Andrew Davis’s tenure as Interim Artistic Director to date, and we are all most appreciative of the outstanding work he has already accomplished in his role. He has been a phenomenal partner and friend to me, and I am so grateful for his continuing service to the TSO. Over the last year, it has been my great pleasure to work with the TSO’s Board of Directors, and the strong leadership of Chair Cathy Beck has been critical to setting the strategic direction of the organization. I am indebted to Cathy for being such a deeply devoted champion of the Orchestra, and to the rest of the Board for giving of their time and expertise in support of the TSO’s well-being. If the Board steers the ship, it’s the thoughtful patrons, corporate sponsors, and government partners who provide the energy that ensures its smooth sailing. Through their vital monetary contributions, these supporters (listed on pages 11 to 17) provide the foundation for all that we do and propel the TSO forward. I am exceedingly grateful to them.

My profound thanks also to the Beck family on behalf of the entire TSO community. The gift from the Estate of H. Thomas and Mary Beck is the culmination of a lifetime of generosity, and represents an incredible legacy for all of us at the TSO to steward—we are deeply grateful. Working diligently behind the scenes is our remarkable administrative staff—the machinery of the TSO. Their hard work and dedication are inspiring, and I thank them all for the considerable effort they put into making the TSO function on a daily basis. Ultimately, the secret to the TSO’s success is the Orchestra itself. Its virtuosi—truly gifted individuals whose combined talents form a marvellous ensemble—are at the heart of every achievement we celebrate. Hearing them in concerts at Roy Thomson Hall and throughout our community always feels like I’m listening with new ears; what is old becomes strikingly new. Their commitment and talent are inspiring. Indeed, the Orchestra is well positioned to welcome Gustavo Gimeno as their new musical leader in 2020/21. His artistic vision is already shaping our work, and we look forward to sharing it with you soon. Thank you for taking a front-row seat.

Matthew Loden Chief Executive Officer


Board of Directors The TSO Board of Directors is legally responsible for the governance of the corporation. Within this mandate is the expectation that the Board will develop, implement, and monitor policies allowing the organization to carry out its work.

Catherine Beck, Chair

Rags Davloor, Vice-Chair & Treasurer

Eileen Jurczak, Secretary

Andrea Alexander, TSVC President

Doris Chan

Robert W. Corcoran

Sharon Groom

Peter Hinman

Ross Kerr

Vahan Kololian

Andrew Phillips

Noelle Richardson

Councillor Jaye Robinson

Brian Shaw

Tom Smee

Rahul Suri

Board members as of June 30, 2019

The Toronto Symphony Orchestra would like to thank Councillor Norm Kelly, Jacqueline Moss (Roy Thomson Hall Liaison Representative), and Luke Seabrook who completed their service on the Board of Directors during the 2018/19 season. The TSO welcomes the following members who joined in 2018/19: Andrea Alexander, Doris Chan, Peter Hinman, and Councillor Jaye Robinson.


Toronto Symphony Foundation Trustees The Toronto Symphony Foundation (TSF) was incorporated in 1966, operates separately from the TSO, and is governed by a Board of Trustees. Funds invested by the TSF generate earnings that provide a stable and consistent revenue stream for the TSO over the long term.

Thomas C. MacMillan, Chair

John Sherrington, Vice-Chair

Richard Balfour

Thomas Bogart

Jeannine LiChong

The Trustees of the Toronto Symphony Foundation also include TSO Board Chair Catherine Beck and TSO Board Vice-Chair & Treasurer Rags Davloor.

Trustees as of June 30, 2019

Ana Lopes

Helen Mallovy Hicks

Sheila Murray

TSO Board Committees Finance & Audit Committee

Development Committee

Maestro’s Club Ambassadors

Rags Davloor, Chair Doris Chan Peter Hinman Ross Kerr Vahan Kololian Bill Saunderson Ziyad Mansour* Catherine Beck (ex officio) Matthew Loden* (ex officio)

Catherine Beck, Chair Robert W. Corcoran Rags Davloor Andrew Phillips Gabriel Radford^ Brian Shaw Camille Watts^ Peter Hussell* Matthew Loden* (ex officio)

David G. Hallman, Chair Olga Fershaloff Michael Gnat Donna Goldman

Nominations & Governance Committee

Community Engagement Committee

Sharon Groom, Chair Peter Hinman Eileen Jurczak Noelle Richardson Tom Smee Rahul Suri Peter Hussell* Roberta Smith* Catherine Beck (ex officio) Matthew Loden* (ex officio)

Tom Smee, Chair Eric Abramovitz^ Doris Chan Sally Han Claire Hopkinson Joseph Johnson^ Noelle Richardson Councillor Jaye Robinson Leonie Wall^ Rachel Malach* Aaron McFarlane* Bradley Powell* Matthew Loden* (ex officio)

*TSO staff member ^TSO musician

Bryan Graham Lindsay McLean Maymar Naman Judy Simmonds Angela Vuchnich

Young Leadership Council Nicole D’Aoust, Co-Chair Rachel Spiar, Co-Chair James Bertrand Tricia Black Natalie D’Aoust Theodora Ferrant Yaiza Garcia-Sanchez Miles Jaques^ Robert Karrass Jane Lang Matthew Létourneau


Michael Lockhart Allana Miller Tina Pan Danielle Ryterband Aaron Shafton James Stuart Lindsey Winstone Eileen Jurczak, Founding Co-Chair

Lists as of June 30, 2019

Toronto Symphony Volunteer Committee Board Formed in 1923 as the Women’s Orchestral Association, the Toronto Symphony Volunteer Committee is dedicated to contributing to the financial support of the TSO through fundraising, and to expanding awareness of its musical and educational programs.

PRESIDENT Andrea Alexander VICE-PRESIDENTS Priscilla Healy Marlene Lynds Judy Rathbun Aili Suurallik TREASURER Susan Davies

SECRETARIES Simone Katz Nora Lever Magda Uzan ADVISORS Rae Dellio Joyce Gutmann Roberta Innes Nora Lever Barbara Trull

BOARD CHAIRS Frank Au Kathleen Birks Kathy Buckworth Reny Burrows Joanne Colbourne Joyce Egberts Valerie Elton Olga Fershaloff Arthur Gale Priscilla Healy Mary Heinmaa

Roberta Innes Alexa Kinney Marlene Lynds Heather Oda Wendy Sanford Mary Shannon Marcia Skilling Aili Suurallik Magda Uzan Ruth Wojtiuk List as of May 31, 2019

Honorary Governors The TSO recognizes the support and dedication of those who have served the TSO as Board members, Trustees, and members of the Governors’ Council. The following list acknowledges those former leaders who have chosen to become Honorary Governors, and to act as ambassadors for the TSO.

CO-CHAIRS Robert W. Corcoran William J. Saunderson, FCPA, FCA Andrea Alexander John F. Bankes Nani Beutel J. Richard Blickstead William Braithwaite William H. Broadhurst E. Ann Buik Claude Carrier Douglas Clark David Colcleugh Earlaine Collins Douglas L. Derry George Dickson

E. Peter Elwood Hershell Ezrin Fraser M. Fell, CM, QC John R. Gardner Nance J. Gelber Robert T. E. Gillespie Mary Girard Elizabeth (Betty) Glave Ira Gluskin Bryan Graham, FCA Frances Gruber Ron Hay Nona MacDonald Heaslip Mary Heinmaa Andrea Hopson Roberta Innes Brian W. Jones Fred Karp

Sheryl L. Kerr Stanley Klebanoff Irving H. Koven George W. Lange Marion G. Langford Nora S. Lever Ana P. Lopes, CM Eunice Lumsden Virginia McLaughlin Florence Minz Reid Morden, CM John F. Nagel Nelly W. Ng Heather Oda David H. Race The Honourable Bob Rae Dr. Robert Rottapel Kenneth G. Russell


Stanley Shortt Judy Simmonds Carole Smith Alan Sperling Joan Taylor Philip Taylor Stephen N. Tile George Tiviluk Gordon W. Walker, QC Lawrence A. Ward Peter J. Warrian Robert D. Weese Robert S. Weiss, FCPA, FCA Donald O. Wood List as of June 30, 2019


Atis Bankas Sydney Chun Carol Lynn Fujino Amanda Goodburn Terry Holowach Bridget Hunt Amalia JoanouCanzoneri Mi Hyon Kim Shane Kim Leslie Dawn Knowles Douglas Kwon Sergei Nikonov Young Dae Park Semyon Pertsovsky Clare Semes Peter Seminovs Jennifer Thompson Angelique Toews James Wallenberg Virginia Chen Wells VIOLAS Teng Li PRINCIPAL Theresa Rudolph ACTING PRINCIPAL Ashley Vandiver Daniel Blackman Ivan Ivanovich Gary Labovitz Diane Leung Charmain Louis Mary Carol Nugent Christopher Redfield CELLOS Joseph Johnson PRINCIPAL Principal Cello Chair supported by Dr. Armand Hammer

Emmanuelle Beaulieu Bergeron ASSOCIATE PRINCIPAL Winona Zelenka ASSISTANT PRINCIPAL Alastair Eng Igor Gefter Marie Gélinas Roberta Janzen Britton Riley DOUBLE BASSES Jeffrey Beecher PRINCIPAL Michael Chiarello ASSOCIATE PRINCIPAL Theodore Chan Timothy Dawson Chas Elliott David Longenecker Paul Rogers FLUTES Kelly Zimba PRINCIPAL Toronto Symphony Volunteer Committee Principal Flute Chair Julie Ranti ASSOCIATE PRINCIPAL Leonie Wall Camille Watts PICCOLO Camille Watts OBOES Sarah Jeffrey PRINCIPAL Keith Atkinson ASSOCIATE PRINCIPAL Cary Ebli Hugo Lee ENGLISH HORN Cary Ebli

CLARINETS Joaquin Valdepeñas PRINCIPAL Sheryl L. and David W. Kerr Principal Clarinet Chair Eric Abramovitz ASSOCIATE PRINCIPAL Miles Jaques Joseph Orlowski BASS CLARINET Miles Jaques BASSOONS Michael Sweeney PRINCIPAL Darren Hicks ASSOCIATE PRINCIPAL BASSOON Samuel Banks Fraser Jackson CONTRABASSOON Fraser Jackson

HORNS Neil Deland PRINCIPAL Dr. Michael Braudo Principal Horn Chair Christopher Gongos ASSOCIATE PRINCIPAL Audrey Good Nicholas Hartman Gabriel Radford TRUMPETS Andrew McCandless PRINCIPAL Toronto Symphony Volunteer Committee Principal Trumpet Chair Steven Woomert ASSOCIATE PRINCIPAL James Gardiner James Spragg


TROMBONES Gordon Wolfe PRINCIPAL Vanessa Fralick ASSOCIATE PRINCIPAL BASS TROMBONE Jeffrey Hall TUBA Mark Tetreault PRINCIPAL TIMPANI David Kent PRINCIPAL Joseph Kelly ASSISTANT PERCUSSION Charles Settle PRINCIPAL Joseph Kelly John Rudolph HARP Heidi Elise Bearcroft PRINCIPAL Principal Harp supported by Richard Rooney and Laura Dinner LIBRARIANS Gary Corrin PRINCIPAL Principal Librarian supported by Bob and Ann Corcoran Kim Gilmore PERSONNEL MANAGER David Kent List as of June 30, 2019

An enthusiastic audience participates in the TSO’s firstever Relaxed Performance.

2018/19 Season in Review Season by the Numbers In its 97th concert season, the Toronto Symphony Orchestra presented 140 performances to the community. These comprised 136 at Roy Thomson Hall, including 16 School Concerts; three at George Weston Recital Hall; and one at The Carlu. Outside Toronto, the May 2019 tour to Ottawa and Montreal brought one performance each to the National Arts Centre and Maison symphonique, respectively. Throughout the season, the Orchestra performed three World Premières, including the first commission by Emilie LeBel as the TSO’s RBC Affiliate Composer at the 21C Music Festival. Total attendance for the TSO’s 2018/19 season was 267,257, and the number of first-time attendees was 21,507.

Artistic Highlights Music Director Announcement At the beginning of the 2018/19 concert season, it was announced that Spanish conductor of international renown Gustavo Gimeno would become the TSO’s 11th Music Director beginning in 2020/21—the Orchestra’s 99th season. Artist Débuts 2018/19 introduced many talented new artists to the TSO stage—with 18 débuting soloists including George Li (piano), Claire de Sévigné (soprano), and Simon O’Neill (tenor). The season was also a showcase for débuting conductors, with acclaimed maestros Kerem Hasan, Gemma New, Aziz Shokhakimov, Han-Na Chang, Kirill Karabits, and Nicholas Collon, and Canadian conductors Daniel Bartholomew-Poyser and Simon Rivard all leading the Orchestra for the first time.


The season also marked the first year with the TSO for RBC Affiliate Composer Emilie LeBel and RBC Resident Conductor Simon Rivard. Ms. LeBel, who also teaches composition at MacEwan University in Edmonton, premièred her first TSO commission, hosted Explore the Score, and assisted with artistic planning. Mr. Rivard conducted over 20 TSO performances and led the Toronto Symphony Youth Orchestra. Recordings & Awards The opening concert of the 2018/19 season featured performances of Berlioz’s Symphonie fantastique and Fantasy on Shakespeare’s The Tempest, conducted by Interim Artistic Director Sir Andrew Davis. These performances were recorded by Chandos Records and released to the public in July 2019. The TSO’s recording from the previous season—a compendium of pieces composed by Ralph

LEFT: Interim Artistic Director Sir Andrew Davis conducts the TSO in Mahler Symphony 7. RIGHT: DJ Sandy Duperval sings while spinning for the crowd at EVENING EPIC.

Vaughan Williams, conducted by Peter Oundjian and featuring several soloists, including Principal Oboe Sarah Jeffrey and Principal Viola Teng Li—received a GRAMMY® nomination and won the JUNO Award for Best Classical Album, Large Ensemble in March 2019. Explore the Score For the first time ever, audience members were invited to witness the composition process up close at Explore the Score, held in January 2019 and conducted by TSO Composer Advisor Gary Kulesha. This marked the sixth anniversary of the TSO’s annual Canada-wide Call for Scores, bringing together a cohort of emerging composers to hear their works performed by a professional orchestra and to receive mentorship from artistic and administrative staff. Star Wars Film Concert Series The TSO took audiences to a galaxy far, far away with the Star Wars Film Concert Series, where fans were able to experience John Williams’s classic scores performed by the Orchestra alongside the films. Audiences began their galactic adventure with Star Wars: A New Hope in January 2019, followed closely by Star Wars: The Empire Strikes Back in March 2019.

LEFT: A young audience member gets into the spirit at the Relaxed Performance of Let’s Dance! RIGHT: Incoming Music Director Gustavo Gimeno conducts the Orchestra in Stravinsky’s The Firebird.

Generously supported by the Ontario Cultural Attractions Fund, the series continues in the 2019/20 season with Star Wars: Return of the Jedi in October 2019 and Star Wars: The Force Awakens in May 2020. Sixty-one percent of households who purchased tickets to any of the TSO’s film concerts in 2018/19 were first-time attendees, and 42% lived outside Toronto. EVENING EPIC In April 2019, EVENING EPIC brought TSO fans to The Carlu in Toronto for an unforgettable night of music and celebration in support of the Orchestra’s education and mentorship programs. Guests were treated to a one-night-only headlining collaboration between the TSO and acclaimed artist Jeremy Dutcher (winner of the 2018 Polaris Music Prize and the 2019 JUNO Award for Indigenous Music Album of the Year); amazing pop-up performances by TSO musicians and Toronto Symphony Youth Orchestra members, curated by TSO Principal Double Bass Jeffrey Beecher; and a dance floor energized by DJ Sandy Duperval. Relaxed Performance The TSO’s inaugural Relaxed Performance in April 2019 welcomed patrons of all ages and abilities to



boogie along to Let’s Dance! The program, which was designed primarily for youth on the autism spectrum and their families, featured musical styles from various cultures, dancers from the Joy of Dance Centre, and the TSO début of conductor Daniel BartholomewPoyser, Artist-in-Residence and Community Ambassador of Symphony Nova Scotia. The program received an incredible response with close to 800 patrons enjoying the concert set in a low-stress and welcoming environment. Sold-Out & Large-Scale Concerts The final concert of the 2018/19 season was a fitting climax to the year, with incoming Music Director Gustavo Gimeno conducting the suite from Stravinsky’s The Firebird and Sibelius’s Violin Concerto, featuring a stand-out solo performance by TSO Concertmaster Jonathan Crow. After each concert, Maestro Gimeno participated in an onstage chat with Mr. Crow and the TSO’s Chief Executive Officer, Matthew Loden, giving the audience a small taste of his vision and ideas for the Orchestra when he assumes his new role in the 2020/21 season. Sold-out concerts in 2018/19 included Beethoven Symphony 5 and Carmina Burana, which featured

ABOVE: TSO RBC Resident Conductor Simon Rivard and TSO Violin Clare Semes chat with an audience member after a Young People’s Concert. TOP-RIGHT: Students from Leadership By Design with conductor Daniel Bartholomew-Poyser (fourth from left).

an all-débuting cast comprising Nicole Haslett, Sunnyboy Dladla, and Norman Garrett. The TSO’s performance at the 21C Music Festival, in partnership with The Royal Conservatory of Music, also drew a packed crowd and showcased the TSO’s long-standing dedication to new and Canadian works. The concert featured the first commission by Emilie LeBel as the TSO’s RBC Affiliate Composer. Entitled They do not shimmer like the dry grasses on the hills, or the leaves on the trees, the work was inspired by many lonely drives across the North American landscape. The TSO is one of the few Canadian orchestras that can present some of the most large-scale and demanding works in the orchestral repertoire. The 2018/19 season provided audiences with a number of opportunities to witness the TSO at full force, with performances of Britten’s War Requiem on the centenary of Armistice Day, three Mahler symphonies, the entire first act of Wagner’s Die Walküre (performed in concert), and Carl Orff’s colossal Carmina Burana.

Music Education The TSO presented 16 School Concerts to 32,362 students and their teachers in the Greater Toronto

BOTTOM: The TSO Chamber Soloists presented five pre-concert performances—curated by TSO Concertmaster Jonathan Crow. RIGHT: TSO Principal Pops Conductor Steven Reineke leads the Orchestra in a performance of Modern Broadway.

Area and beyond in 2018/19. These entertaining, curriculum-based performances take place in Roy Thomson Hall and are designed by TSO education staff in consultation with music coordinators from school boards in the GTA. Additionally, 1,230 high school students from across the region had the opportunity to experience the Orchestra live through the Morning with the Toronto Symphony Orchestra open-rehearsal program. These young people were given a rare glimpse into how the Orchestra prepares for a performance, and had a chance to meet with a TSO musician for a Q&A. In 2018/19, the Toronto Symphony Youth Orchestra (TSYO)—comprising 81 talented young musicians led by TSYO Conductor Simon Rivard—performed eight concerts in Toronto, including three side-byside performances with the TSO. The TSYO also performed twice with the Indigenous arts group Red Sky Performance as part of the Fall For Dance North festival in October 2018.

TSO in the Community Musicians, staff, guest artists, and TSYO members all took part in a number of partnership events throughout the year, helping the TSO engage more deeply with


the community. Season highlights included a September 2018 visit from violinist Nicola Benedetti to an afterschool Sistema program at Parkdale Junior Public School; a workshop with African-Caribbean students as part of the Leadership by Design program in April 2019; a February 2019 masterclass featuring cellist Alisa Weilerstein, in partnership with The Royal Conservatory of Music; and two side-by-side performances with members of the TSYO and students from Regent Park School of Music in February 2019.

Orchestra Personnel Two long-standing members of the TSO left the Orchestra in 2018/19. Cellist Kirk Worthington retired after 30 years of dedicated service, and Principal Viola Teng Li stepped down after 14 years with the TSO to assume the role of principal viola at the Los Angeles Philharmonic. The TSO congratulates both musicians on starting these new chapters in their lives. Since the end of the fiscal year, the following four musicians have joined the Orchestra: Zeyu Victor Li, Associate Concertmaster; Victor Fournelle-Blain, Principal Viola; Rémi Pelletier, Associate Principal Viola; and Yolanda Bruno, Violin.

In Honour of H. Thomas & Mary Beck The announcement of a $10-million gift from the Estate of H. Thomas and Mary Beck brings the lifetime giving of the Beck family to the Toronto Symphony Orchestra to over $20 million. It is a truly remarkable gift—the largest the TSO has ever received—from a truly remarkable family. “Tom and Mary Beck were the kind of friends and supporters that every arts organization dreams of,” says Sir Andrew Davis, the TSO’s Interim Artistic Director. “They loved the music of the Toronto Symphony passionately and believed that what it gave and continues to give to Toronto and the world is no mere luxury but rather a vital part of the fabric of life.” Subscribers to the TSO for more than 60 years, the couple became well known to individual members of the Orchestra, who respected and loved them as their champions. The Becks accompanied the Orchestra on several tours, including one to the Arctic, and welcomed musicians into their home and their lives. Peter Oundjian, the TSO’s Conductor Emeritus, knew Tom and Mary Beck well. “I feel extremely fortunate to have had the honour and enormous pleasure of their friendship,” he says. “The Becks were a true and utterly loyal ally. They loved and valued the TSO more than words can express. My profound gratitude to them and to the whole Beck family is shared by every single person connected to the Orchestra.”

In March of 2016, Tom Beck passed away, at the age of 89; Mary died in August of 2018, aged 83. Their passion for the Toronto Symphony Orchestra lives on in their children and grandchildren, and in their chosen home city. The entire Beck family is proud to announce this most recent gift on behalf of the Estate of H. Thomas and Mary Beck, which is presented as the TSO prepares to welcome its new Music Director, Gustavo Gimeno, and celebrate its 100th Anniversary Season in 2022.

10 • TSO 2018/19 ANNUAL REPORT

Tom and Mary Beck’s extraordinary relationship with the Toronto Symphony Orchestra will continue to resonate for years to come. We have all benefited from their unwavering commitment to the TSO and its vital place in our lives. Tom and Mary Beck were proud of their chosen home and their ability to play a part in ensuring it would be a vibrant place well into the future. The Toronto Symphony Orchestra is proud to honour them for their years of friendship and generosity.

TSO Donors: Annual & Cumulative Giving ANNUAL GIVING This list reflects gifts in support of the TSO’s annual operations, special projects, and Transition Fund given between July 1, 2018 and June 30, 2019.

Music Director’s Circle


Dr. Marianne Seger*

Ann H. Atkinson*

The Music Director’s Circle recognizes the visionary leadership of donors who are key investors in the TSO’s current and future success.

BMO Financial Group*

Mr. Brian Shaw & Ms. Jacqueline Moss

Dr. Jane E. Brissenden & Dr. Janet M. Roscoe*

Mr. & Mrs. John L. & Amanda Sherrington*

CIBC Mellon*

Ken & Joan Taylor*

Robert & Ellen Eisenberg*


The Whitmer Trudel Charitable Foundation*

Bob & Irene Gillespie*

In memory of Jeremy C. Scarfe

H. Thomas & Mary Beck+* Anonymous

$1,000,000+ Estate of James Drewry Stewart

Robert & Ann Corcoran* The Catherine and Maxwell Meighen Foundation* RioCan REIT

Tom & Ellen Smee*

Anonymous (2)


Guild Electric Charitable Foundation* Eileen Jurczak* Leede Jones Gable* Julie Medland*

The Azrieli Foundation

Maestro’s Club

Francine & Bob Barrett*

The Maestro’s Club recognizes the generosity of donors who provide a critically important base of funding for the TSO.

David Service*

Platinum Baton $12,000–$19,999

Judith (Billie) R. Wilder+*

William Birchall Foundation


Ms. Doris Chan

The William R. and Shirley Beatty Charitable Foundation


Hans & Susan Brenninkmeyer*

Dorne & Angela Collison*

Sheryl L. & David W. Kerr+ Myrna Lo*

Sharon Groom & Robert Polese

Anonymous (3)

James & Joyce Gutmann*


Jack Whiteside*

Buddy & Leigh Eisenberg*

Mrs. Earlaine Collins+* George A. Fierheller*

William & Nona Heaslip*

The Bennett Family Foundation* Burgundy Asset Management Ltd.* Margaret & Jim Fleck*

Park Property Management Inc. Gerald & Marion Soloway* Rahul Suri Ron & Lee Till* Doug & Gail Todgham* Tuan Yeap Wilf & Helen Ziegler*

Silver Baton $3,750–$7,499

Jim & Pat Glionna

Mr. & Mrs. Gregory James Aziz*

Roberta & Richard Innes*

Howard A. & Laurie Back*

Richard Isaac & Brian Sambourne*

Karen & Bill Barnett*

Indra & Rags Davloor

Mr. Peter Hinman & Ms. Kristi Stangeland

Blake C. Goldring*

Sarah & Ross Kerr

Mrs. Ethel Harris*

Mr. Allan Kimberley & Ms. Pam Spackman*

M. George & Leanne Lewis*

Mr. Thomas A. Bogart*

W. Matheson*

Margaret Harriett Cameron*

Vahan & Susie Kololian

Cecile & Fred Metrick*

John & Margaret Casey*

Kristen & Matthew Loden°

Mrs. Ruth Watts-Gransden*

Edmund & Frances Clark

The McLean Foundation*

Mr. & Mrs. Harold Wolfe and Mr. & Mrs. Ab Flatt*

The Crinoline Foundation

Margie & Peter Kelk* Mr. Thomas C. MacMillan* Bettie Moore, in memory of Donald Moore* RBC Foundation*

Minto Foundation Inc.*

Richard Rooney & Laura Dinner*

Marianne Oundjian*

Toronto Symphony Volunteer Committee* Anonymous (1)

Andrew G. Phillips Alan & Gwendoline Pyatt Foundation

Anonymous (1)

Douglas Bodley*

Julie Di Lorenzo Marc & Vreni Ducommun

Gold Baton $7,500–$11,999

Mrs. Judy Dunn*

Tony & Anne Arrell*

Philip & Joyce Epstein*

Barbara C. Eastman

*10 years or more of support +Includes gift to the Toronto Symphony Foundation °Staff or Orchestra member

TSO 2018/19 ANNUAL REPORT • 11

Equitable Life of Canada

Michael & Shelley Obal*

Anita & Douglas Burke

Paul Gooch & Pauline Thompson

Sheldon & Carol Esbin*

Jean O’Grady*

Ms. M. Burkhard*

John Goodhew & Jeffrey Axelrod


Brayton Polka*

Bonnie & Patrick Burroughs*

Barton Graff

Thomas & Judy Fekete*

Shirley H. Reid*

John & Encarnita Gardner*

Lorraine & Tom Ryan*

Maureen Callahan & Douglas Gray*

Mr. Bryan Grant & Mr. Victor Widjaja

Diane & Stan Gasner in memory of Isidor Desser*

Katie Sejba°

Mr. Nigel Cannell

Griggs Family Foundation*

Ellen & Brian Carr*

Mr. & Mrs. William Gruber*

Mr. & Mrs. William Switzer*

Prof. Alfred L. Chan & Mr. Michael Farewell

Douglas Gubitz & Diana Soloway*

Mr. & Mrs. Rudolf & Elisabeth Stodt*

Mrs. Lucy Chan-Fung*

Pinchas Gutter

Neil Tait & Susan Zorzi*

Mr. & Mrs. Robert & Andrea Chisholm*

Ruth & John Hannigan*

Ms. Susan Gerhard Mr. David Goadby & Ms. Mayumi Miyamatsu* Donna & Cal Goldman* Mary & Bryan Graham* John & Judith Grant* Ellen & Simon Gulden* Denis & Florence Hall* David G. Hallman* Gary L. Hanson & Barbara M. Klante Dr. Ronald M. Haynes+* Audrey S. Hellyer Charitable Foundation* Mrs. Sharon Herman* Mr. & Mrs. David & Mariella Holmes* The Hope Charitable Foundation* The Norman & Margaret Jewison Charitable Foundation* Mrs. Lorraine Kaake* Patrick & Barbara Keenan* Mr. & Mrs. Leslie & Margaret Kende

Mr. Philip Somerville*

Jeannie Tanenbaum* Elizabeth Tory*

Mrs. Marina Cholakis* Classical FM 96.3*

Philip & Nanci Turk* Judy & Larry Ward+* Frank Whittaker* Stan & Ros Witkin*

Doug & Joanne Colbourne* Terence & Maria Collier* Katherine Robb Corlett

Jane Wright*

In memory of John Bremner Cowley

Anonymous (4)

John & Mary Crocker*

Conductor’s Baton $2,250–$3,749 Joe Aiello & Ann McLaughlin Judie Arrowood* Houry Artinian Ehud & Anat Avitzur in memory of Avraham, Tamar and Michal Avitzur Dr. I. L. Babb at the Toronto Community Foundation

Dianne & Bill Cross* Bill Crothers* Greg Cumming & Bianca Marcus Leslie & Anna Dan* Mr. Brian Dawson Kip & Jennifer Daynard Albert de Goias* Mr. Vincent Dong & Mrs. Anita Dong

Mr. & Mrs. John G. Harrison* Mr. Richard Harrop Ron Hay & Hilaire St-Pierre* Dr. Ronald M. Haynes+* Mary & Arthur Heinmaa* Hon. & Mrs. Paul Hellyer* Ms. Agnes Herczeg Nigel & Bridget Hodges* Frances Hogg* Emmy & Walter Homburger* John & Daisy Hort* Peter R. G. Hussell° & Katherine Estock Mr. & Mrs. D.A.S Ivison* Umar Jan Mr. & Mrs. David Alan & Wendy Jarvis*

Morris Dorosh & Merle Kriss*

Elizabeth Kady in memory of Dr. Michael Kady*

Richard J. Balfour*

Mr. Reinhard Dotzlaw*

Evelyn Kai & Francis Li

Mr. Gordon Kirke

Joyce Barrass

Peter Kalen*

Hans Kluge*

David P. Barrett*

Alex and Carolyn Drummond Foundation

Judy Korthals & Peter Irwin*

Laurie Barrett

Robert Korthals & Janet Charlton*

Rhoda Basian in honour of Herbert Basian

Valarie Koziol*

Dan Bereskin & Rhoda Gryfe*

Gurney M. Kranz Charitable Foundation*

Erika Biro in memory of George Biro*

John B. Lawson*

Joan C. Bismillah*

Wendy & Elliott Eisen*

Harriette Laing* George W. Lange*

Ruth Frisch*

Ms. Debra Le Bleu*

Dr. Mark M. Garner*

Connie Lee*

Dr. & Mrs. T. D. R. Briant*

Bronwen Gates*

Tin Leung

Bill & Arden Broadhurst*

Dr. Abraham J. Gelbloom & Mrs. Miriam Gelbloom*

Anthony J. Lisanti*

Patricia L. Martin*

The Boiler Inspection & Insurance Company of Canada*

Carol & Jerry M. Nesker*

Amandus Kohlmeier

Dr. & Mrs. Steven & Sonia Fried*

Walter & Anneliese Blackwell* Ellen & Murray Blankstein*

Keith Nash & Cindy Forbes

Florence Kingston*

Dr. Milos J. Krajny*

Mallovy Hicks Family*

Dr. Alan C. Middleton*

Ross & Ann Kennedy*

Roy Forrester & Ed Cabell*

Tricia Black

Esther McNeil*

Dr. Erica Fischer & Mr. David Harrison*

Jessie Kazi

Sandra Forbes & Stephen Grant*

Peter Levitt & Mai Why+*

Paul & Martha McLean*

Roberta & Jon Fidler*

Marcia & Paul Kavanagh*

Scott Kowaleski*

Judith Adams & Robert Black*

Mrs. June McLean*

Catherine Fauquier

Dr. & Mrs. Allan & Simone Katz*

Lloyd & Gladys Fogler*

Allan & Nora Lever* Eunice Lumsden & Peter Luit*

Mr. Seymour Epstein and the Honourable Gloria Epstein*

Marvin & Estelle Kates*

David & Lois Buckstein* Dr. Christopher Buller Ms. Sarah Bullick°*

Marika & William Glied* Mr. Michael Gnat*

12 • TSO 2018/19 ANNUAL REPORT

Dr. Vance M. Logan* Mr. Sanjay Luthra & Ms. Jane Ann Hendricks*

Bruce and the Late Barbara MacGowan*

Dr. & Mrs. Mark & Jacqueline Rother*

Catherine Mahoney*

Dr. & Mrs. Robert Rottapel*

Ms. Rachel Malach° & Dr. Jordan Silverman

Dr. Betty Rozendaal & Mr. Sonny Goldstein*

Mrs. Lili Manson*

Anthony Rubin*

Ziyad Mansour°

Myra Sable

John & Dorothy McComb

Wendy Sanford*

In Memory of John M. McCulloch

Beverly & Fred Schaeffer*

Kenneth & Lois McFarquhar* David & Patty McKnight*

Meridith Schmalz

Donald & Lindsay McLean

John Schmidt

Peter & Virginia McLaughlin*

Charles & Cathy Scott*

Caryl & Dennis McManus*

Wendy Setterington & Gerald Swinkin*

Barbara & Frank Milligan* David Milovanovic & Cinda Dyer* Bill Mitchell & Diana Chant* Jay & Walter Morris* Paul & Karen Morton* Noel Mowat* Mr. & Mrs. L.E. Muniak* Steve Munro* Mr. & Mrs. Maymar & Jessica Naman

Mr. Vincent Lobraico*

The Henry White Kinnear Foundation*

Stephen Longo

Nan & Jack Wiseman*

Stephen McArthur

Mr. & Mrs. Harold Wolfe* KL Wong & Anne Cairns

Dawn Marie Schlegel° & Darryl Matthews

The Menkes Family*

Gerry & June Weinberg*

Edward & Sheila Sharp* Ms. Mary Anne Sigal Mrs. Judy Simmonds* Mrs. Roberta Smith° Stephen & Jane Smith* Dr. Harley Smyth & Mrs. Carolyn McIntire Smyth* Lois Spencer & Per Voldner* Mr. & Mrs. Paul & Roseanne Spiar*

Mr. Darren Mark Dr. Donald and Helen McGillivray* Mundy Y. Mclaughlin Mr. Cameron A. M. Muir*

Mrs. Joan Wood*

Lou & Wendy Switzer Myles

The Marjorie and Joseph Wright Memorial Foundation*

Elena Nemenova

Takahiro Yamanaka

Mr. Titus Okathe

Yvette Yip* Joyce & Fred Zemans*

Emil & Dorothy Nenniger* Mala Raman Janet & John A. Read Jane Stephenson*

David Zhang

Mr. & Mrs. Brian & Irene Turner*

Anonymous (15)

Jonathan Webster David & Carol Wishart* Gerald A. Yates*

Friends The Friends program recognizes the generosity of donors whose gifts play an important part in maintaining the high standards of the Orchestra and enriching the community through music.

Carole & Bernie Zucker* Anonymous (4)

Percussion $700–$1,249 Albert & Nancy Alexanian* Murray & Susan Armitage Foundation at the Toronto Community Foundation* Virginia Atkin & Keith Ambachtsheer

Concertmaster $1,250–$2,249

The Arthur Press Ltd.

Iivi Campbell* G Vincent Castellano

Mrs. Joan Beaton in memory of Mr. David Beaton

James Bailey*

Mrs. Natalie Obal*

Mr. Carl Spiess & Mrs. Jennifer Spiess

Myrna & Martin Ossip*

Maureen & Wayne Squibb*

Miss Hyung-Sun Paik

Mrs. Doreen L. Stanton*

Jeff Coleman & Luc Leclerc*

Judy & A. Phelps Bell*

Dr. & Mrs. N. Pairaudeau*

C.A. Steele

Brian Collins & Amanda Demers*

Dr. Matthias Benfey*

Ronald Steinberg & Nancy Prussky*

Jeanie Davis*

Mr. & Mrs. Roza & Joseph Berkowitz*

Sharon & Daniel Dowdall*

Rosalee & Seymour Berlin*

Mrs. Rosalyn E. Stephens & Mr. Russ Roberts*

The Down Family Foundation*

Helen Bick & Michael Wolfish*

Steven Endicott

Alan & Helen Billing*

Paul Straatman & Shane Toland

Phyllis & Ab Flatt*

Sheila Block*

John & Susan Franklin*

Bristol Gate Capital Partners Inc.

Wendy Gross

Liz Buller

The Patrick & Freda Hart Green Foundation*

Ms. Carolyn Bustraen*

Wood Hart Fund at the Toronto Foundation

Katherine Carleton, C.M.

D. Ross Peebles* Gloria Pelchovitz* Dr. Norbert Perera* Richard & Nadya Perzan Robert Peters & Andrea Sum Victor & Esther Peters* Dr. Paul & Ruth Pitt* The Pottruff Family Foundation* Charles Price Quadrangle Architects Limited* Cynthia Quinn John & Maria Radford* Julie Ranti°* The Carol & Morton Rapp Foundation*

Maria & Paul Szasz* Eric Tang & James Miller Alex Tosheff* Bettie & Mark Tullis Dr. Penny Turner & Dr. Anthony Woods

Felicity Hawthorn

Mr. Stefan Varga & Dr. Marica Varga*

Mrs. Barbara Houlding*

Mr. Blaine Varner

Jackman Foundation*

Tony & Nancy Vettese*

Norma Jansson*

Mrs. M. Virro

Mr. Ken Hitzig* Patrick D. Huziak*

Jarvis & Associates* Keith Foundation

Ms. Jean Read*

Mr. & Mrs. Christoph von Krafft*

Khalid M. Khokhar*

Panni Relle*

Angela & Michael Vuchnich*

Jeong Seok Kim

Iain & Cristina Ronald*

Margaret & Don Walter*

Dr. Elizabeth Kocmur*

John & Susan Rose

Robert & Menna Weese*

Mr. & Mrs. Gordon Rosenberg*

Christopher & Susie Wein

Mr. & Mrs. I. Paul & O.M. Komarnicky* Janine Langan* Bernie & Beverly Little*

Ted Barber

Lorraine Cane Manuelita Cherizard Mrs. Beverley Chernos* Andrew T. Chong* Coire Family* Esther Cole* Dorothy Cook Paul & Judi Cooper* Phillip Cormier Rebecca Crysdale Elaine Decker Gerald Dimnik* Stephen Donaldson Mr. Steven D. Donohoe* Ms. Barbara Doyle*

*10 years or more of support +Includes gift to the Toronto Symphony Foundation °Staff or Orchestra member

TSO 2018/19 ANNUAL REPORT • 13

John & Robin Fauquier*

Dr. Jan Narveson*

M. Fatima Bagorro

Louise Degrandpre

Goldie R. Feldman*

Pavel Naumov

Ms. Julia Barber

Catherine DesBrisay

Niall Ferguson

Mr. & Mrs. Scott & Christina Northey*

Michael & Janet Barnard*

Michael Deverett

Dr. Michel Fich

The Olzhych Foundation

Genc Basha

Mrs. Christina deVries

The Financial Coach Inc

Brett Ostrander

David Battersby

Carla Di Cecco

Frederic Fortin

Ruth Ostrower*

Franca Bauco

Samantha Di Virgilio

Allen Gerskup

Melissa Pain

Salim Belcadi

Mr. Joseph Dickstein*

Martin Gerwin & Judith Rutledge*

Mrs. Lynn Poth*

Jennifer Bell

Maurice DiGiuseppe

Dennis Giokas

Nigel & Cynthia Potts*

Amitabh Bhatnagar

Collin Dill

Jim Gregory*

Fawad Quraishi

Ms. Ann Bia

Disimino Family*

Celia Haig-Brown

Mr. & Mrs. James & Joan Rayner*

Jennifer Biesinger

Colin R.C. Dobell*

Michel Haineault & Judith N. Patton

Kerry Rittich*

Huguette Blanco

Laura Doktorova

Edith Hall Endowment Fund

Norman Rosenblum & Anita Small*

Terry Jane Bland

Mr. & Mrs. Arthur & Sandra Donin*

Ms. Sharron Hatton

Sven Rowaert

Jeff A. Bloom*

Wayne Dowler*

Lee & Peter Hayden*

Mr. Joel L. Rubinovich*

Stanley Scott Boigon

Dolores Drul

Sheldon & Mary Hellin*

Dr. William Schipper

James Bona

Weihong Du

The Evelyn & Cecil Hoffman Charitable Foundation at the Toronto Community Foundation*

Brian & Annalee Schnurr

Carole Borgh

Tim & Nicky Egan*

Dr. Steven Semelman & Dr. Janice Wells*

Douglas and Grace Bradley*

Mary Elliott

Michiel Horn*

Mr. Lewis Bradley*

Bill Siegel

Eleanor Engelman

Richard & Susan Horner*

Virginia Bregg

The Philip Smith Foundation

Patrick Erlich

John & Susan Hylton*

Freda & Allan Brender*

Volker Storjohann

Michaela Evans

Richard Hynes

Edward M Bridge*

Mr. Mathew Szeto

Sharyn Salsberg Ezrin & Hershell Ezrin*

Barbara Jacob

Robert Brien

Ms. Anna Talenti*

M. D. R. Brown*

Brian Batis Faber

Ms. Amala Jayatilleke

Carol & Will Taylor

Olga Fainshtein

David Jean

Mrs. Vicki Bryson

Wayne Teas Thomas Large & Singer Inc.*

Ruth Buchweitz

Andrea Fallows

Julie Jira

Mr. Arthur E. Timlock*

Mr. Juergen Buechler

Effie Fanaras

William Johnson

Mr. Lorne Farr*

Mr. David Jonas

Amanda Tome

Colin Callender

Richard Farr

Mr. Clement Kam*

Kenneth Tooke*

Elizabeth Campbell*

Jennifer Tory*

Mr. Mark Campbell

Miss Susan Elaine Fell

Gabor Kandel

Paul Ungureanu

Simon Carette

Mr. & Mrs. Lee Ferrier*

Mrs. Elaine Kay

Bruce William Fillier

Mr. Charles Ketchabaw*

S.K. Upjohn*

Ryan Carter

Russell C. Finch*

Ms. Naomi Kirshenbaum*

Urban Fare Catering

Ellen Case

Rudy Wallman

Doreen Chan*

David & Helena Fine*

Mary Kreiner

Theodore & Erica Warkentin

J. Chan

Jessey Finizio

Mr. Richard La Prairie*

John & Lynne Fitzpatrick

James R. Lake & Wendy Ratcliff*

Tiffany Welch

Andrea Chapin

Paul Leduc

Traudl Elisabeth Flock

Victor & Norma Wells*

Sylvie Charette

Jeff Lipton & Ellen Warner*

Evangeline Cheng

James E. Fordyce*

Lis & Al Wheable*

Local 58 Charitable Benefit Fund

Phyllis & Michael Cincinatus

Elizabeth Forster*

Howard Winston

John & Beatrice Love*

Colin Fox

Puiwing Wong

Drs. Ioana Ciric & Paul Syslak

Mr. & Mrs. David & Margaret Luxton*

Afiya Francisco

Anonymous (27)

Cathy Clark Lt. Col. Michael Clarry

Mr. & Mrs. D. I. Fraser*

Brass $375–$699

Maurice J. Clement*

Laura Fric

Rev. Brian D. Clough*

Ms. Darina Frieder

Ms. Ellen T. Cole*

Ms. Laura Frith

LIvony Ahat

Sharon L. Conway

Eliza Fung

Myles Akande

Roger Cook*

Angela Fusco

Anna Albrekht

Donald M. Cooper*

John Gallacher

Mary Ann Alexander*

Andrea Corey

Deborah & Marvin Gans*

Mr. & Mrs. Kenneth Allen*

Spencer Courneya

Mrs. Sylvia Geist

Drusilla Allin

Tracy Coutts

Pierre N Gemson

John Anthony Ambrosio

Donna Cressman

Andy Gibbons

Mayte Anchante

Sheila Croft*

Mr. Douglas Gibson

David Anderson

Malcolme Graeme Cullen

Charene Gillies

Dr. Gordon Anderson

Lois Daniels

Mr. Jack Gingrich*

Eileen Mercier*

Julie Andras

Harry Davies

Lorna Godin

Thomas Neil Morrison

Mr. Toshi Aoyagi*

Kenneth Davies

Dr. & Mrs. Allan C. Gold*

Mr. R. Murphy*

Lewis Archer

Trisha Dayal

Toula Gonedalles

Nancy Riley & Blake Murray*

Christine Ardern

Dan DeGasperis

Mr. Henry Gooderham*

Andrew & Harriet Lyons Mr. Roy MacLean* Leslie & Susan MacMillan Steve Madden Helen Marr* Mr. & Mrs. Richard Marshall* Dr. W. John S. Marshall Julia Martin Carole Cole & Arnold Massey* McDorman Family Sylvia M. McPhee* McTernan Design Associates Dr. Don Melady & Mr. Rowley Mossop*

14 • TSO 2018/19 ANNUAL REPORT

Phyllis Goodfellow*

Akash Kumar

Susan Montgomery

Felix Seaborn

Dr. Michael Gordon & Ms. Gilda Berger*

Karen Kuwahara*

Deric Moore

Heather Sears

Minely & Howard Kwan*

Dr. James Moore*

Jennifer Sedgewick*

Alison Gover

Mr. & Mrs. Bert Kwant*

Sharon & Fred Margon*

Gary Shaw

Josee Gravelle

Mark H Lachmann

Mr. Greg Mozesson

Dr. & Mrs. Edward & Helen Sheffman*

Dr. & Mrs. B. J. Green*

Katie Lancaster

Kanta Murali

Michael Shuh

Jake Greene

Mr. & Mrs. Leon & Anita Lapidus*

Mr. H. Linton Murray

Duncan Sinclair

The Group Benefits Market

Alan & Marti Latta*

Mr. Frank Nacsa

Gene Anne Smith

Rabindra Anthony Gunraj

Mrs. Dianne Lawson*

Marie Nawrocki

Mrs. H. Smith

Ann Guzowski

Daisy Massiel Lee

Bruce Neil

Feza Solaklar

Mr. Fred Haines

Mrs. Patricia Legate*

Zornitza Netcheva

Alexa Speagle

Ian G Hallford

Keith Lesarge

Shareena Newman

Phil Spencer*

Jasmine Hamade

Roger Levesque

Mr. Robert A. Nicholson*

Erin St John

William Hammond

Aaron Michael Levisohn PhD

Anluan Obrien

Ronald J. Stagg*

Elizabeth Harrigan & Family

Myrna & Ed Levy*

Ashkan OmidiSahneh

Michael Stahl

Mrs. Andie Castner-Harris

Mr. & Mrs. R. Frank Lewarne*

Mr. & Mrs. Peter & Nadia Ostapchuk*

Katherine Stanley

Jen Hassan

Matthew Lewicki

Andrea Page

Ewen Steele

Jeff Hawel

Edie Lewis

Elena Paltseva

Elaine & Joseph Steiner*

Jennifer Hawkins

Jo-Anne Liburd

Mr. Francis Parfitt

Willi Steinke*

Randolph Henry

Genevieve Lille*

Bruce & Maria Parker*

Andrew Steinsky

Margaret Herridge

Catherine Limbertie

Graeme Parker

Sharon Stibbard

Ms. Angela M. Herwin*

Jack & Carol Long*

Pam Pastoll Jacobson

Mrs. Frances Stretton*

Jennifer Hilborn

Julito Longkines

Mr. Herman W. Pat*

Milo Sturm*

Samantha K G Hill

Jeff & Alison Lougheed

Liza Paul

Styles Family Foundation*

Dorothy Hollingsworth*

The Lowidt Foundation*

Nancy Pearson*

Hwajeong Suh

Carol Hornsby

Liza Lukashevsky

Mary Pedersen

Sarah Sun

The Hon. Peter Howden

Robert MacAlpine

Angela Pelenur

Nancy Sutherland*

Patricia Humphries

Eduardo Macario

Brendan Pennylegion

Tracy Sword

Trudy Lee Hunter

Mary-Margaret MacInnes*

Jessica Perkins

Brigitte Szybbo

Feng Huo

Ms. Laurel MacKay-Lee*

Ms. Mohanee Pershad*

Ms. Sheila M. Tait*

Henry B Ingram

Pestrin Group Limited*

Al Tanenbaum*

Katalin Inokaj

Dr. & Mrs. Richard & Deborah Mackenzie*

Suzanne Allen Philip

Mrs. H. Tanzer

James Ireland

Victoria Macpherson

Lawrence Phillips*

Maricica Istoc

Susanne Manaigre

Archie Platt

Ellen Jaaku*

Katherine Manassis

Florin Popa

Janet & Herb Tanzer Charitable Fund at the Toronto Community Foundation

William Jamieson

Sandra Porter

Lizzie Jay

Katherine Mansfield & Tim Stephenson

Don & Susan Johnston*

Andrea Manuel

Robert Andrew Johnston

Ms. Andrea Margles

Marisa Jones

Vaso Maric

Milutin Jovanovic

Paul Marot

Dagmar Kanzler & David Ross*

Joseph Marshall

Howard Kaplan*

Patrick Martin

Andres Kasekamp

Julie Martinson

Dr. I. Keltz*

Angela Matheson

Maureen Kempston-Darkes

Karen Maxwell*

Theresa Kennedy

Mr. W.R. McCallum*

Sigitas Keras

Dr. & Mrs. J. W. McCormick*

Brent & Karen Key*

Shirley Elizabeth McDonnell

Philippa J Kilbourn

Linda McFarlane*

Young Hyun Kim

Ms. Jane McGuire*

Ms. Diana C. King*

Janet McLauchlan*

Karen King

Dr. John D. McLean*

Stefi Kipfer

Michael McVean

Neset Kircalioglu

Ulrich Menzefricke*

Ms. Karen Kitchen*

April Meyer

Sandhya Kohli

Jennifer Michel

Lindsay Kruit

Milman & Associates

Gary Ku

Ms. Elizabeth Milne*

Harold M. Povilaitis* Ken & Carol Pritzker* Dr. & Mrs. W. Pruzanski* Ms. Gloria Puls* Ephraim Radner Donna Ragbir Dr. Rakowski* David & Cathy Rawcliffe* Peter Reeve-Newson Alan Reid Mr. Paul Reinhardt* Marat Ressin Nasreen Roberts Terry Romaniuk Myrna Ross Mrs. Cecilia Rossos* Vera Rumyantseva Mr. Allen D. Russell* Harriet Sakuma* Mr. Keith Salmon

David & Audrey Mirvish

Kimberly Saqui Nancy A. Schiefer* Dr. E. Schweihofer*

Chihiro Tashima Margaret Taylor-Sevier Peter Teixeira Kathryn Tenkate Nancy Thoman* Neil Thomlinson* Mr. Paul Thompson* Esther & Marvin Tile* George & Beryl Tiviluk* Gregory A. Toombs Mr. & Mrs. David E. Toye* Justin Vaillancourt Sumit Verma Geraldine Vickers Nancy Violi* Mr. & Mrs. Peter & Beth Waldburger* Terri-Lynne Walker Mr. Bradley Wall Christopher Webb Dorothy Weiss Ms. Kathleen E. Wells* Mr. Walter K. Wells* Eleanor Westney Mr. John Wherrett George & Lois Whetham

*10 years or more of support +Includes gift to the Toronto Symphony Foundation °Staff or Orchestra member

TSO 2018/19 ANNUAL REPORT • 15

David Williams Ellen U. Willows Leonard Willschick* Shelly Witzke John Wowk* Anna Yanlin Xiong Erick Zamudio Machuca Lisa Wei Zhang Anonymous (74)

Impresarios Club The Impresarios Club recognizes the generosity of members of the TSO’s young professionals donor program, which fosters meaningful connections with younger patrons.

Timpani $1,000–$2,249 Addcor General Construction Ltd. Christopher Beard

CUMULATIVE GIVING Benefactors’ Circle The Benefactors’ Circle recognizes the extraordinary philanthropic commitment of donors whose cumulative giving totals $500,000 or more since 1985.


Tricia Black*

H. Thomas & Mary Beck

Nicole D’Aoust Lori Goldberg

William & Meredith Saunderson Scotiabank TD Bank Group

$500,000+ The William R. and Shirley Beatty Charitable Foundation The late Dr. Michael Braudo Indra & Rags Davloor

Geraldo Gonzalez


Desjardins Group

Ms. Denise Ho

Judith (Billie) R. Wilder

Enbridge Gas Distribution Inc.


Ernst & Young LLP

Stefan Laakso

BMO Financial Group

Imperial Oil Foundation

Jane Lang

Robert & Ann Corcoran

Michael Lockhart & Dylan Hayden

Invesco Ltd.

Sheryl L. & David W. Kerr

Joseph E. Seagram & Sons Ltd.

David & Alexandra Kennedy Usman Khan & Amy Montgomery Ms. Susanne Klopfer

Allana Miller Mark Munson Gabriella Nudo & Matthew Létourneau Diana Pegoraro Ms. Karen Restoule Rope Access Maintenance Inc. Shantanu Roy

Estate of James Drewry Stewart

Margie & Peter Kelk

Toronto Symphony Volunteer Committee

Mr. Allan Kimberley & Ms. Pam Spackman

Phyllis & William R. Waters


Anonymous (2)

M. George & Leanne Lewis

Rachel Spiar


Myrna Lo

James Ambury Stuart

The Renette & David Berman Family Foundation

Mr. Thomas C. MacMillan

Ms. Danielle Ryterband Aaron Shafton

Hiroyasu Sudo Peter J. Sullivan Stephen Thomson John Tomory Lindsey Winstone Christie Yu Anonymous (3)

Trumpet $500–$999 James Bertrand Dustin Cohen*

Hans & Susan Brenninkmeyer CIBC The Gerard & Earlaine Collins Foundation The late R. Fraser Elliott Ira Gluskin & Maxine Granovsky Gluskin

The McLean Foundation Bettie Moore, in memory of Donald Moore Mr. Richard Phillips PwC RBC Wealth Management Richard Rooney & Laura Dinner Barrie D. Rose and Family

Natalie D’Aoust

Blake C. Goldring

The late Leslie Stibinger

Theodora Ferrant

James & Joyce Gutmann

Philip & Eli Taylor


Mrs. Ethel Harris

Tippet-Richardson Limited

William & Nona Heaslip Pam & Chris Hodgson The Catherine and Maxwell Meighen Foundation *10 years or more of support +Includes gift to the Toronto Symphony Foundation °Staff or Orchestra member

RBC Foundation

16 • TSO 2018/19 ANNUAL REPORT

The late Isabel Carey Warne Mrs. Gert Wharton The late Lillian Gail Wright Anonymous (2)

Legacy Circle The Legacy Circle recognizes the generosity and vision of donors who have provided for the future of the TSO through a bequest or other form of planned giving. Andrea Alexander Ellen Amigo Callie Archer Ann H. Atkinson A. Phelps Bell Ms. Ruth Bentley David K. Bernhardt Ms. Barbara Bloomer Brenda Boyes

Mrs. Joan L. Harris

Ms. Anna Prodanou

Mr. & Mrs. John G. Harrison

Iain & Cristina Ronald

Dr. Ronald M. Haynes

Marie Angela Sampson

Ms. Karen Henderson

Mr. J.C. Scarfe

James Hewson

J. Kenneth Scott

Lauri & Jean Hiivala

Shauna & Andrew R. Shaw

Christopher E. Horne, Esq.

Dorothy Cohen Shoichet

Mr. Geoffrey Huck

Mrs. Louise Slemin

Mr. Michael Hudson

Alan & Geraldine Sperling

The Hyer Family

Gordon & Joan Stevenson

Mr. Charles Jacobsen

Frances Stretton

Roger Johnson / Matt Hughes / the late Gary F. Vellek

Nancy Sutherland

Stephen Johnson Mr. & Mrs. Richard W. Johnston William & Hiroko Keith

Marnie Bracht

Allan Kimberley & Pam Spackman

Freda & Allan Brender

Miss M. June Knudsen

Mr. Charles R. Brown

Gurney Kranz

Ms. Reny Burrows

Peggy Lau

Mrs. Ann E. Christie

Peter Levitt & Mai Why

Earlaine Collins

Mr. Tom C. Logan

Dianne & Bill Cross

Dr. & Mrs. Richard & Deborah Mackenzie

Charlotte Davis & Richard Haigh Vera Dounaevskaia Marion Dowds Judy Dunn Fraser & Margot Fell Olga Fershaloff Ingrid Foldes Lorraine & Gordon Forrest Roy Forrester & Ed Cabell Rev. Ivars & Rev. Dr. Anita Gaide Ms. Susan Gerhard Dr. & Mrs. Allan C. Gold Joyce Gutmann G. Michael Hale David G. Hallman C. Harany

Robert & Patricia Martin

Ann D. Sutton Lillian S. Tanizaki

Estate Gifts The TSO acknowledges the passing of several cherished supporters who have made significant contributions in their lifetime and/or through their Estate. Estate Of Sheila Black Estate of Miss Corinne S. Deverell Estate of Frederick R. Mackelcan Estate of Judith Helen Mills Estate of Hugh Gordon Morris, QC Estate of Jon Robert Pearce

Marnie Toben

Canada Council for the Arts Vida Peene

H. van der Schaaf

Estate of Dr. Irving Rother

Joanne Waddington

Estate of Helen Allen Stacey

Estate of Christianne Warda

Estate of James Drewry Stewart

Leonard Willschick

Estate of Mitchell Wywiorski

Judith H. Winston & Andrew S. Winston

Anonymous (2)

Denny Young Alicia Zavitz Wilf & Helen Ziegler Anonymous (43)

Mr. Ron McCallum Mrs. B. McKenney Sylvia M. McPhee Mrs. Stephanie Meredith Dr. Alan C. Middleton Sigmund & Elaine Mintz Mrs. Elizabeth Moore Jean O’Grady Joan & Hugh Paisley Michael Lawrence Parker “In Memoriam” Mr. & Mrs. Jim Patterson Diane W. Pettet Robin B. Pitcher Archie Platt

A legacy gift is a thoughtful way to make a significant contribution to the TSO. Through a bequest in your will, a gift of stock, or a gift of life insurance, you can play an important role in your Orchestra’s future. Please consider leaving a legacy gift to the TSO, and inform us if you have already done so.

List as of June 30, 2019

TSO 2018/19 ANNUAL REPORT • 17

Thank you to our government partners for their leading public support on behalf of the people of Toronto, Ontario, and Canada, and to the Toronto Symphony Foundation for its significant ongoing support.




List as of June 30, 2019

18 • TSO 2018/19 ANNUAL REPORT

The TSO’s Path to Lasting Financial Health The TSO has been able to make significant improvements to its financial position over the last several years. Fiscal 2019 brought the TSO’s accumulated deficit down to $2.6 million, a reduction of $9.6 million since Fiscal 2013. We are grateful to our community of patrons, donors, government funders, corporate partners, and the Toronto Symphony Foundation, for their generous ongoing support, which has made this possible.

The TSO’s accumulated deficit is now the lowest it has been in almost three decades, down 79% from Fiscal 2013.

The historic $10-million gift from the Estate of H. Thomas and Mary Beck, the largest gift ever received by the TSO, has an impact that is immediate and lasting. In accordance with the wishes of the estate, $3.0 million of the gift contributed to the surplus and corresponding reduction of accumulated deficit in Fiscal 2019, and $7.0 million was directed to the Toronto Symphony Foundation (TSF). An additional $3.2 million was added to the TSF endowment in Fiscal 2019 as a result of donor support and a matching grant from Canadian Heritage. The Fiscal 2019 surplus will allow the TSO and the TSF to apply to Canadian Heritage again for matching-grant support in Fiscal 2020.

Despite the progress made, there are still significant financial challenges to be addressed. As an organization, we remain committed to better financial health through the prudent management of our fixed costs and strengthening of our concert margins and annual contributed revenues. As outlined in our past plans, we remain in a transitional period and our successes to date have been made possible with generous one-time and bridging support. The TSO will achieve lasting financial health by investing in programming that reaches new audiences, attracting new donors, and demonstrating even higher levels of quality and intimacy in its performances. Overall, we are also optimistic about our direction and the path ahead. The TSO has an unparalleled opportunity in the next two seasons to chart a new course, with a new CEO, committed Board, incoming Music Director in 2020/21, and our centennial season in 2021/22. Work has begun on the next phase of the TSO's strategic and financial direction, and we look forward to sharing more details with our stakeholders and audiences in the coming year.

The TSO has an unparalleled opportunity in the next two seasons to chart a new course.

TSO 2018/19 ANNUAL REPORT • 19

Financial Statements Independent Auditor’s Report To the Members of The Toronto Symphony

our knowledge obtained in the audit or otherwise appears to be materially misstated.


We obtained the Annual Report prior to the date of this auditor’s report. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

We have audited the financial statements of The Toronto Symphony [the “Symphony”], which comprise the statement of financial position as at June 30, 2019, and the statement of operations, statement of changes in net deficiency and statement of cash flows for the year then ended, and a summary of significant accounting policies. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Symphony as at June 30, 2019, and its results of operations and its cash flows for the year then ended in accordance with Canadian accounting standards for notfor-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 report. We are independent of the Symphony 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.

Other information Management is responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information, and in doing so, consider whether the other information is materially inconsistent with the financial statements or

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-forprofit 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. In preparing the financial statements, management is responsible for assessing the Symphony’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 Symphony or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Symphony’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 these financial statements.

20 • TSO 2018/19 ANNUAL REPORT

Independent Auditor’s Report (continued)

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 Symphony‘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 Symphony’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 Symphony’s to cease to continue as a going concern. • 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. We 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.

Report on other legal and regulatory requirements As required by the Corporations Act (Ontario), we report that, in our opinion, Canadian accounting standards for not-for-profit organizations have been applied on a basis consistent with that of the preceding year.

Chartered Professional Accountants Licensed Public Accountants Toronto, Canada October 16, 2019

TSO 2018/19 ANNUAL REPORT • 21

Statement of Financial Position 2019 $

2018 $











Bank indebtedness [note 5]



Accounts payable and accrued liabilities [notes 6, 9 and 12[a]]



Advanced ticket sales















ASSETS [note 5] Current Accounts receivable [note 3] Prepaid expenses Total current assets Capital assets, net [note 4] LIABILITIES AND NET DEFICIENCY Current

Deferred contributions [note 7] Total current liabilities Deferred capital contributions [note 8] Deferred lease inducements [note 9] Advanced ticket sales Total liabilities Commitments [note 15] Net deficiency

EY SIGNATURE TO COME (2,606,589) 16,161,155

See accompanying notes On behalf of the Board:

Catherine Beck Director

Rags Davloor Director

22 • TSO 2018/19 ANNUAL REPORT

(4,537,660) 6,772,618

Statement of Operations 2019 $

2018 $

Fundraising [excluding bequests and funds raised for the Toronto Symphony Foundation], net [notes 7, 8 and 12[a] and [b]]



Bequests, net [note 12[a] and [b]]



Subscriptions and other tickets [note 10]



Government grants [note 11]



The Toronto Symphony Foundation [note 12[a]]



Fundraising special events



Toronto Symphony Volunteer Committee



Other [note 13]














Fundraising [note 12[b]]



Fundraising special events



Interest [note 5]









Surplus of revenue over expenses for the year See accompanying notes

Statement of Changes in Net Deficiency 2019 $ Net deficiency, beginning of year Surplus of revenue over expenses for the year Net deficiency, end of year See accompanying notes

TSO 2018/19 ANNUAL REPORT • 23

2018 $







Statement of Cash Flows 2019 $

2018 $



Amortization of capital assets



Amortization of deferred capital contributions


OPERATING ACTIVITIES Surplus of revenue over expenses for the year Add (deduct) items not involving cash

Lease inducement, free rent period Amortization of deferred lease inducements

(28,388) 2,115,393

(18,322) 141,813 (25,974) 2,685,865

Changes in non-cash working capital balances related to operations (9,721,318)

Accounts receivable






Advanced ticket sales



Deferred contributions





Purchase of capital assets



Cash used in investing activities



Prepaid expenses Accounts payable and accrued liabilities

Cash used in operating activities INVESTING ACTIVITIES






Net change in cash during the year

Cash, beginning of year

Cash, end of year

Increase (decrease) in bank indebtedness Deferred lease inducements Cash provided by (used in) financing activities

See accompanying notes

24 • TSO 2018/19 ANNUAL REPORT

Notes to the Financial Statements 1. DESCRIPTION OF ORGANIZATION The Toronto Symphony [the “Symphony”] is a not-for-profit performing arts organization incorporated under the Corporations Act (Ontario). The Symphony provides performances of orchestral repertoire and serves a spectrum of musical needs within the Toronto community. The Symphony is registered under the Income Tax Act (Canada) as a charitable organization and, as such, is exempt from income taxes. The financial statements of the Symphony do not include the net assets and income of the Toronto Symphony Foundation [the “Foundation”] [note 12] or the Toronto Symphony Volunteer Committee, as both organizations are independent legal entities. Both organizations, at their discretion, provide funds to the Symphony each year.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These financial statements are prepared in accordance with Part III of the CPA Canada Handbook – Accounting, which sets out generally accepted accounting principles for not-for-profit organizations in Canada and includes the significant accounting policies summarized as follows: Revenue recognition The Symphony follows the deferral method of accounting for contributions, which include grants and donations. Grants, bequests and unrestricted contributions are recorded in the accounts when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Unrestricted contributions are recognized as revenue when initially recorded in the accounts. Externally restricted contributions are deferred when initially recorded in the accounts and recognized as revenue in the year in which the related expenses are recognized. Externally restricted contributions for depreciable capital assets are deferred and amortized over the life of the related capital asset. Revenue from subscription and other ticket sales, concerts and special events is recognized in the accounts at the date of the performance. Other revenues are recognized at the date on which services are provided or goods delivered. Financial instruments Financial instruments, including accounts receivable, bank indebtedness and accounts payable and accrued liabilities, are initially recorded at their fair value and are subsequently measured at amortized cost, net of any provisions for impairment. Capital assets Purchased capital assets are recorded at cost. Donated capital assets are recorded at fair value at the date of contribution. Amortization is provided on a straight-line basis over the estimated useful lives of the assets as follows: Tangible Computer equipment Furniture and equipment Musical instruments Leasehold improvements Intangible Computer software

3–5 years 3–10 years 10 years Over the term of the lease

decrease in the net deficiency at an appraised value established by an independent appraisal in the year receipted by the Symphony. These instruments are considered to have a permanent value and are not amortized but are assessed annually for any indicators of impairment. Employee and musician benefit plans For multi-employer defined benefit pension plans and defined contribution plans in which the Symphony’s employees and musicians participate, contributions are expensed as due. Multi-employer defined benefit pension plans are accounted for consistent with defined contribution pension plans since these plans do not provide sufficient information for the Symphony to apply defined benefit plan accounting. Foreign currency translation Revenue and expenses denominated in foreign currencies are translated into Canadian dollars at exchange rates prevailing at the transaction date. Monetary assets and liabilities are translated into Canadian dollars at exchange rates in effect at year-end. Exchange gains and losses are included in the statement of operations. Contributed materials and services Because of the difficulty of determining their fair value, contributed materials and services are not recognized in the financial statements. Allocation of expenses The costs of each function include the costs of personnel and other expenses that are directly related to the function. General support and other costs are not allocated.

3. ACCOUNTS RECEIVABLE As at June 30, 2019, accounts receivable includes $10,001,000 [2018 – $31,000] representing the estimated outstanding payments with respect to two [2018 – three] bequests and $1,037,933 [2018 – $1,061,219] with respect to total pledges receivable.

4. CAPITAL ASSETS Capital assets consist of the following:

Tangible Computer equipment Furniture and equipment Musical instruments Historical musical instruments Leasehold improvements Intangible Computer software

3–8 years

Donations of items included in the historical musical instruments are recorded as a direct increase in capital assets and a direct

TSO 2018/19 ANNUAL REPORT • 25

Cost $

Accumulated amortization $

2019 Net book value $




310,993 296,137

253,982 186,330

57,011 109,807






758,243 5,939,419

661,730 1,253,249

96,513 4,686,170

Tangible Computer equipment Furniture and equipment Musical instruments Historical musical instruments Leasehold improvements Intangible Computer software

Cost $

Accumulated amortization $

2018 Net book value $




306,703 297,451

248,849 163,204

57,854 134,247






765,393 5,941,288

525,443 1,039,878

239,950 4,901,410

During 2019, the Symphony wrote off fully amortized capital assets that are no longer in use of $17,661 [2018 –$349,647].

5. BANK INDEBTEDNESS The Symphony has a banking agreement that provides a demand credit facility of $9,200,000. This agreement is supported by guarantees from the Foundation in the amount of $4,200,000 and the City of Toronto [the “City”] to a maximum of $5,000,000. The agreement with the City provides that the Symphony must repay, to the City, any amounts paid by the City to the bank. Interest is incurred at a rate of prime plus 0.5% [2018 – 0.5%]. Interest recorded in the statement of operations on the line of credit totalled $123,241 [2018 – $117,907] for the year. As collateral for the guarantee provided by the Foundation, the Symphony has provided, to the Foundation, a security interest in all of its assets. The Symphony has provided the bank with a second security interest in all of its assets, subordinated only to the Foundation.

6. GOVERNMENT REMITTANCES PAYABLE As at June 30, 2019, accounts payable and accrued liabilities include government remittances payable of $43,697 [2018 – $75,823].

Deferred capital contributions represent the unamortized amount of donations received for the purchase of capital assets. The annual amortization of deferred capital contributions is recorded as revenue in the statement of operations. The changes in the deferred capital contributions balance are as follows: 2019 $

2018 $

Balance, beginning of year



Less amortization of deferred capital contributions [included in fundraising revenue]



Balance, end of year



9. DEFERRED LEASE INDUCEMENTS Deferred lease inducements are created when a landlord provides for leasehold improvement allowances and collects lower monthly rental amounts in the early period of a lease term as part of the lease agreement. The Symphony records these allowances as an obligation and amortizes the amount to administration expense on the statement of operations over the term of the leases. Details of deferred lease inducements are as follows:

Balance, beginning of year Additional lease inducements Amortization to rent expense Balance, end of year Less current portion [included in accounts payable and accrued liabilities] Long-term portion

2019 $

2018 $












10. SUBSCRIPTIONS AND OTHER TICKETS REVENUE Subscriptions and other tickets revenue consists of the following:

7. DEFERRED CONTRIBUTIONS Deferred contributions represent the City’s operating grant and other contributions attributable to future fiscal periods. The changes in the deferred contributions are as follows: 2019 $

2018 $

Balance, beginning of year



Contributions received during the year



Recognized in revenue during the year



Balance, end of year



2019 $

2018 $




Single tickets





26 • TSO 2018/19 ANNUAL REPORT







Government grants revenue consists of the following: 2019 $

2018 $

Ontario Arts Council



Canada Council



City of Toronto




Canadian Heritage Other




12. THE TORONTO SYMPHONY FOUNDATION [a] The net assets of the Foundation are as follows:

General fund Restricted fund Endowment fund

2019 $

2018 $









[a] The Symphony is under contract to pay its musicians for services performed through June 30, 2020. Under the terms of individual contracts with each of its musicians, the Symphony is committed to paying fees to contracted musicians of approximately $9,865,000 for fiscal 2020. [b] The Symphony has entered into various agreements with conductors and guest artists for services to be performed in fiscal 2020, aggregating approximately $3,137,000. Included in this amount is US$970,000 translated to Canadian dollars using an exchange rate of $1.32. [c] Rental payments to Roy Thomson Hall for auditorium usage vary depending upon the number and types of performances. Under the existing agreement, which is on a year-to-year basis, rental payments for auditorium and office space are estimated to be $1,041,000 for fiscal 2020. [d] The Symphony has also entered into lease agreements for office space and equipment requiring future minimum annual lease payments as follows: $ 2020


The Foundation, at its discretion, provides support to the Symphony as determined by restrictions on the various funds constituting the net assets.







During the Symphony’s fiscal year, the Foundation provided the Symphony with a distribution of $1,758,600 [2018 – $1,840,000].



During the year, the Symphony was the recipient of a significant donation of $2,000,000 included in fundraising in the statement of operations and a significant bequest of $10,000,000 included in bequests in the statement of operations. The $2,000,000 donation and $7,000,000 of the bequest was transferred to the Foundation to be held for the Symphony’s future use and is recorded net in the statement of operations within fundraising and bequests, respectively. As at June 30, 2019, accounts payable and accrued liabilities included $7,000,000 [2018 – $1,087] related to donations to be transferred to the Foundation. [b] The Symphony provides administrative and fundraising services to the Foundation at no cost to the Foundation. During the 15 months ended June 30, 2019, the Foundation recorded fundraising revenue from donations and bequests of $10,482,083 [2018 – year ended March 31, $669,967] raised in connection with these services that is not reflected in these financial statements.

13. OTHER REVENUE Other revenue is comprised of ticket charges, earned fees and other miscellaneous income.

14. MUSICIANS’ DEFINED BENEFIT PENSION PLAN The defined benefit pension obligations of the Symphony’s musicians are the responsibility of the Musicians’ Pension Fund of Canada [“MPF”], which is administered by the Musicians’ Pension Fund of Canada Board. The most recent valuation for financial reporting purposes completed by the MPF as at December 31, 2018, disclosed net assets available for benefits of $786.7 million. The Symphony is required to contribute 10% of the musicians’ minimum basic fee.


1,035,833 2,645,152

16. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The Symphony is exposed to various financial risks through its transactions in financial instruments. Credit risk The Symphony is exposed to credit risk in connection with its accounts receivable because of the risk that one party to the financial instrument may cause a financial loss for the other party by failing to discharge an obligation. Credit risk is not significant to the Symphony since the significant balance relates to bequests and pledges that have been collected subsequent to year-end [note 3]. Interest rate risk The Symphony is exposed to interest rate risk with respect to its operating line of credit because cash flows will fluctuate because the interest rate is linked to the bank’s prime rate, which changes from time to time. Liquidity risk The Symphony is exposed to the risk that it will encounter difficulty in meeting obligations associated with its financial liabilities. The Symphony has a line of credit available to help in managing this risk [note 5].

17. COMPARATIVE FINANCIAL STATEMENTS The comparative financial statements have been reclassified from statements previously presented to conform to the presentation of the 2019 financial statements.

TSO 2018/19 ANNUAL REPORT • 27

Administrative Staff Matthew Loden Chief Executive Officer Roberta Smith Vice-President & Chief of Staff Felicia Shah Executive Assistant to the Chief Executive Officer

Karen Rustia Senior Manager, Events (on leave) Kate Clegg Senior Manager, Events Morgan Balderson Stewardship Officer

Ben Coleman Manager, Government Relations & Stakeholder Communications

Abigail Brockhouse Senior Development Officer, Maestro’s Club


Meaghan Duffy Development Officer, Annual Giving

Loie Fallis Vice-President, Artistic Planning David Dredla Associate Vice-President, Artistic Administration Laura Mayo Director of Pops & Special Concerts Adriana Kraevska Assistant Artistic Administrator Susana Almeida Office Administrator (60 Simcoe St.) & Artistic Assistant

Yoomee Choo Development Officer, Corporate & Foundations Alice Wen Prospect Management & Research Officer Richard Mojica Development Operations Coordinator

FINANCE & BUSINESS ADMINISTRATION Ziyad Mansour Chief Financial Officer

MARKETING Katie Sejba Vice-President, Marketing & Communications Natasha Bood Associate Vice-President, Communications & Audience Development Chris Beard Director of Marketing Operations

Kerry Wall Web Manager Derolyn Kinkead Sales Manager Mairéad O Brien Graphic Designer Rebecca Sharp Editorial & Production Manager Adam Matheson Marketing Manager

ORCHESTRA OPERATIONS & EDUCATION Rachel Malach Vice-President & General Manager


Anastassia Lavrinenko Manager of Ticketing Operations

Chris Walroth Production Manager

Deanna Boychuck Director of Corporate & Foundation Partnerships (on leave) Jade Irons Director of Corporate & Foundation Partnerships Brian Columbus Director of Development Operations Dawn Marie Schlegel Director of Donor Relations & Engagement

Jeffrey Stacey Manager of Patron Services

Mor Shargall Patron Services Coordinator (on leave)

Jason Taylor Database Manager

Eugenia Abman Controller

Kevin Devaux Director of Patron Services

Emma Badame Digital Marketing Manager

John Sharpe Archival & Research Assistant

Sarah Bullick Associate Vice-President, Development


Jenny Kerr Patron Services Coordinator

Matthew Jones Information Systems Manager

Teodora Ivanov Ticketing Operations Coordinator

Pierre Rivard Education Coordinator

Francine Labelle Director of Public Relations

John Dunn Volunteer Archivist

Peter Hussell Vice-President, Development

Bradley Powell TSYO Manager & Education Associate

Eleni McKinnon Assistant Production Manager Allison Bent Assistant Personnel Manager

Rachelle Dacanay Intermediate Accountant

Steve Ray Artistic Operations Administrator

Jan Abelida Payroll & Accounting Administrator

Nicole Balm Orchestra Operations Coordinator

Tamim Rahim Network & Server Administrator

Aaron McFarlane Director of Education & Community Engagement

Maureen Hamlyn Receptionist & Administration Services (145 Wellington St. W.)

28 • TSO 2018/19 ANNUAL REPORT

Katy James Patron Services Coordinator (Interim) Brooke Argueta Senior Patron Services Representative Terry Bursey Senior Patron Services Representative Alexandra LeBlanc Senior Patron Services Representative Sarah Hiseler Senior Patron Services Representative (Interim) Marcus Glover Patron Services Representative Emily Norry Patron Services Representative

SUMMER POSITIONS Funded by the Government of Canada through the Canada Summer Jobs Program Ricci Ebron Education Assistant Rachel Vickerson Assistant, Government Relations

List as of June 30, 2019


Toronto Symphony Orchestra

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TSO 2018/19 Annual Report  

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