Interview: What Finance for the Arts in Canada can do for you!

This past summer, Heather Young attended the PACT conference in Nova Scotia, and ran into arts administrator Alan Wrenshall, who shared how much they enjoyed Heather's Finance for the Arts in Canada books! Alan was kind of enough to answer some questions we sent their way - enjoy!


Tell us a bit about yourself, and your arts administration role!

Alan Wrenshaw (left) and Heather Young at the 2025 PACT conference

My name is Alan Wrenshall (they/them) and I am a Queer, neurodivergent arts administrator for theatre, currently working as the Managing Director of Playwrights' Workshop Montréal. Founded in 1963, PWM is a nationally-mandated play development centre devoted to exploring and advancing artistic practices that support the creation of new works. To give you a sense of scale, in an average year, PWM collaborates with 250 artists and supports the development of more than 70 new works or translations.

Like many arts admin before me, I began my career in theatre as a Stage Manager, working behind the scenes on productions across Ontario. I gained invaluable experience and skills as an SM and loved being part of the creation process, but when Covid hit I briefly left the arts. Theatre kept calling me back though, and I moved to Montéal to join PWM’s administration team as a Coordinator. The previous MD left shortly after I started, and with the support of the rest of the team, I was able to take on the role. I'm incredibly grateful for the whirlwind opportunity that brought me here and the projects and artists we've been able to collaborate with.

Why did you purchase "Finance for the Arts in Canada," and how has the book met that initial need? Do you think it might be of use to others?

As a Stage Manager turned arts admin, my experience with budgets and finances before getting into arts admin was limited to say the least. Despite taking (most of) an accounting course in University, I did not have training in business. I knew the basics, but, in reality, the biggest budget I'd had to manage up to that point was for one production at a time. If Stage Managing taught me anything, though, it was how to be resourceful in finding information. The toughest part for me was sorting through all of the information that doesn't quite apply to arts nonprofits in Canada. Heather Young's Finance for the Arts in Canada was recommended to me by someone who had worked in my role previously to help me round out my knowledge and skills. 

Which section or concept in the book did you find most valuable or impactful?

For me, the sections that Heather included on understanding more about Accounting principles and financial documents were the most helpful. Sections such as detailing what a trial balance is, or how the purpose of the balance sheet differs from that of the income statement, or what information you get from a statement of cash flow. Coming into the role I felt comfortable with budget tracking and planning, but having a resource that helped me understand the context for why the accounting processes are the way they are, and the different information they are collecting or intended to explain gave me a much more fulsome ability to engage with that part of my job. 

Who would you recommend read this book, and find it useful?

I recommend this book to anyone who has taken on an arts leadership role and is stepping out of their comfort-zone working with running a business, or finances and accounting. I know that there are other new arts leaders out there that come from an artistic background with minimal finance experience, but want to learn. Concepts are explained clearly and thoughtfully. Even for topics you feel comfortable with, it's a great resource to be able to refer back to. It felt like being able to ask my bookkeeper questions without flooding her inbox, and gave me a better vocabulary for speaking with the auditor and my Board. I think it's useful information for anyone!


Many thanks to Alan for sharing their perspective with us!

You can learn more about Finance for the Arts in Canada here: youngassociates.ca/explore-book

New Report: Arts Across Ontario

Ontario's arts and culture sector is a powerhouse, generating nearly half of Canada's cultural GDP and employment. The Ontario Arts Council (OAC) is launching "Arts Across Ontario," a groundbreaking report.

This new tool provides municipalities and regions with robust data on their culture sector's economic output, empowering local decision-makers with the insights they need. The report is the first-ever complete economic assessment of Ontario's arts, showcasing how a $1 OAC investment generates $25 in other revenue and that the sector creates more jobs than real estate, auto manufacturing, forestry, and mining combined. We’re proud to be supporting an industry with so much impact!

If you're an arts or culture organization looking to leverage this new data for your financial planning or strategic development, Young Associates can help you navigate these insights. You can also explore more about financial management in the arts by purchasing Finance for the Arts in Canada.

Annual Fundraising report from ONN

The Ontario Nonprofit Network's (ONN) Status of Canadian Fundraising 2025 report is out, offering a deep dive into the evolving world of fundraising amidst economic challenges and the rise of artificial intelligence.

This year's report highlights that while economic pressures remain a top concern, many organizations are seeing income growth driven by major gifts and innovative strategies. A key takeaway is the increasing importance of "digital maturity" – how well an organization integrates technology – and how it directly impacts fundraising success. Plus, AI adoption is on the rise, with most nonprofits now using AI tools, though challenges around accuracy and data security mean clear AI policies are more crucial than ever.

For arts and culture organizations navigating these complex trends, Young Associates can help you interpret these findings and develop tailored strategies for financial resilience and growth.

The CanadaHelps Giving Report is Here!

The wait is over! The CanadaHelps annual giving report is finally here, and it's packed with crucial insights into the Canadian charitable landscape.

You'll discover that while Canadians gave a jaw-dropping $12.8 billion in 2023, the number of folks donating is actually shrinking. We've also seen how things like the 2024 Canada Post strike pushed more giving online, making digital readiness a must-have for every charity. Plus, there are fascinating shifts in donor priorities, with a big boost for local and Indigenous causes (though there's still a long way to go there).

This report dives deep into who's giving and offers up some very practical strategies to help your organization grow its donor base, get tech-savvy, and tell your amazing story more effectively.

If you'd like to chat about how these trends specifically impact your charity and what you can do about it, don't hesitate to reach out to Young Associates – we're here to help with all your arts and culture financial needs! You can also grab a copy of Finance for the Arts in Canada to develop your own financial literacy skills.

Please note: You'll need to pop in your name and email to download the full report, which you can do through this link.

Insights from the CICP on Charity Spending, Priorities, and Pressures

A report from Carleton University on charity spending, priorities, and pressures was recently brought to our attention by Imagine Canada. In it, the following points seem to have stood out:

  • Respondents estimated that 47% of their budgets go to salaries and benefits on average

  • 44% of respondents indicated that they anticipate needing to increase salaries and benefits more than any other spending in the coming year

  • 59% say salaries and benefits are underfunded

  • Given extra funds, 44% would boost staff pay

You can read the full report from the Charity Insights Canada Project (CICP) here.

Does the report provide any information that stands out to you? Drop us a line and we'd love to chat more about it!

ONN Blog: Navigating a "Canada First" Investment Strategy

With ongoing trade tensions, many Canadian organizations are looking to support the home team, and charities — especially foundations — have a unique opportunity to do so through their investment portfolios. But is a "Canada First" investment strategy actually allowed? Turns out, there are some interesting legal hoops to consider, mainly around prioritizing returns versus furthering the charity's overall goals.

Navigating these complex investment decisions requires a nuanced understanding of both financial and ethical considerations. You can further explore how to align your investments with your values and legal charity requirements on the ONN Blog, “Canada First investing for charities and foundations in Ontario: Is it even allowed?” by Benjamin Miller.

Young Associates can provide expert guidance when it comes to getting a handle on your finances and cash flow and making the decision to invest. To delve deeper into financial planning for the arts, check out Finance for the Arts in Canada.