Highlights - Glenbow Museum

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NOTE 4 CAPITAL ASSETS NOTE 5 INVESTMENTS 2004 2003 ACCUMULATED NET BOOK NET BOOK COST AMORTIZATION VALUE VALUE Furniture and equipment $ 5,368,129 $ 4,287,190 $ 1,080,939 $ 1,064,903 Leasehold improvements 3,295,016 1,772,767 1,522,249 1,737,713 Travelling exhibitions 582,887 386,797 196,090 228,503 $ 9,246,032 $ 6,446,754 $ 2,799,278 $ 3,031,119 2004 2003 MARKET MARKET VALUE COST VALUE COST Founding Fund Devonian Foundation Gift $ 7,871,173 $ 6,164,988 $ 7,838,345 $ 7,406,444 Province of Alberta Gift 7,904,101 6,190,778 6,573,577 6,150,991 15,775,274 12,355,766 14,411,922 13,557,435 Legacy Fund 6,454,905 6,405,946 5,694,834 5,902,592 Collections Fund 5,271,846 5,243,157 5,904,436 6,074,946 Library Fund 1,308,920 1,276,406 – – Designated Fund 119,260 113,259 120,802 131,048 $ 28,930,205 $ 25,394,534 $ 26,131,994 $ 25,666,021 Common and preferred stocks 18,074,788 15,087,098 14,471,898 14,367,609 Bonds, debentures and mortgages 9,978,402 9,432,033 10,091,975 9,732,372 Cash and short-term deposits 776,367 774,755 1,383,599 1,381,518 Accrued interest receivable 100,648 100,648 184,522 184,522 $ 28,930,205 $ 25,394,534 $ 26,131,994 $ 25,666,021 "Library Fund investments bought with the proceeds of the 2002 deaccessioning program were held within the Collections Fund investment portfolio at March 31, 2003. By March 31, 2004 a separate Library Fund investment portfolio had been established." NOTE 6 DEFERRED REVENUE – CURRENT 2004 2003 Federal government grants $ 294,827 $ 210,795 Provincial government grants 1,139,832 138,500 Grants from foundations 85,750 227,156 Grants from the corporate sector 331,181 244,254 Other 180,913 202,770 $ 2,032,503 $ 1,023,475 26 Glenbow Museum ANNUAL REPORT 2003/04
NOTE 7 DEFERRED REVENUE – LONG TERM NOTE 8 CHANGES IN OPERATING FUND BALANCE Changes in the Operating Fund balances were comprised of: 2004 2003 Corporate sector support for exhibitions and programming $ 266,663 $ – ICAP funding for upgrade and renewal of storage space 718,260 – Province of Alberta – Centennial Legacies grant in support of the Mavericks gallery 1,030,000 – Calgary Foundation – support for First Nations school programs – 50,000 Fees and grants in support of travelling exhibitions 23,465 149,272 Provincial government grants for the construction of the Blackfoot gallery 213,963 246,459 Other 42,200 11,514 $ 2,294,551 $ 457,245 2004 2003 INVESTED IN CAPITAL ASSETS UNRESTRICTED TOTAL TOTAL Beginning of year balance $ 3,031,118 $ (1,198,760) $ 1,832,358 $ 1,821,049 Net revenue (922,180) 924,057 1,877 11,309 Invested in capital assets 690,340 (690,340) – – $ 2,799,278 $ (965,043) $ 1,834,235 $ 1,832,358 NOTE 9 FUNDRAISING Fundraising revenues of $2,152,000 include cash donations to the Institute and do not include donations of art, artifacts and archival material to the collections which are owned by the Province of Alberta. The approximate dollar amount of the tax receipts issued by the Institute for items donated to the collection in 2004 amounted to $7,209,949 (2003 - $543,639). Tax receipts for amounts greater than $1,000 are supported by independent appraisals. NOTE 10 PENSION OBLIGATIONS The Institute has a defined contribution plan which is available to all full-time and permanent part-time employees. Under the terms of the plan, the Institute matches contributions of up to 5% of employee earnings. In 2004, the Institute contributed $218,587 (2003 - $185,511) in connection with the plan. NOTE 11 DONATED SERVICES The Glenbow Centre is leased to The City of Calgary by the Province of Alberta for a nominal amount of one dollar per year. The City of Calgary, in turn, subleases it to the Institute for the same amount per year. Fair market value of the rental has not been determined. The City of Calgary also provides janitorial, maintenance and utility services for the Glenbow Centre at no cost to the Institute. The value of the services as determined by The City of Calgary was $1,483,398 for the year ended March 31, 2004 (2003 - $1,389,728). This amount has not been included in the Operating Fund statement. Glenbow Museum ANNUAL REPORT 2003/04 27
Page 1 and 2: 2003/04 Annual Report
Page 3 and 4: Chair’s and President’s Message
Page 5 and 6: Eric Harvie’s Vision Eric Laffert
Page 7 and 8: CPR Oilwell, Dunmore, 1910. Glenbow
Page 9 and 10: Mavericks: An Incorrigible History
Page 11 and 12: 2003/04 Highlights - Travelling Exh
Page 13 and 14: 2003/04 Highlights - BSI: Bog Scien
Page 15 and 16: Support Glenbow Museum relies on co
Page 17 and 18: Financial Review Contents 16 Analys
Page 19 and 20: FINANCIAL OUTLOOK The most importan
Page 21 and 22: Auditors’ Report To the Board of
Page 23 and 24: Operating Fund Statement FOR THE YE
Page 25 and 26: Statement of Cash Flows FOR THE YEA
Page 27: The Library Fund was established fr
Page 31 and 32: Current and Upcoming Exhibitions

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