NSI 2013-14 Annual Report

OUR STORIES

2 0 1 3 / 1 4 A N N U A L R E P O R T I N B R I E F

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We’ve had another stellar year at NSI. Strong course offerings, great staff, board and faculty, supportive partners and sponsors and of course talented students and alumni have all worked together to deliver the kinds of results we can take pride in.

The year wasn’t without its challenges, however – with funding cuts and a shifting

Canadian film and television industry, we found ourselves stretched on many fronts. I’m pleased to report that

NSI rose to the occasion and met these challenges head-on. We have a lot to celebrate.

We’ve continued to broaden our sponsorship base and deepen our relationships with supporters. We signed

significant multi-year commitments, including major support of NSI Totally Television from Bell Media that will

make this program possible for many years to come.

We’ve got big plans on the horizon. There’s a continuing imperative for NSI to evolve as the industry changes,

and we’re up for the challenge. We are continually working on industry-relevant programming to meet the ever-

changing demands of the Canadian media environment.

2014-15 will be a year of

special focus on our alumni

– they’re an impressive

group of individuals with big

achievements, great ideas

and valuable insights into the

industry and its future. We’re

having conversations with

them and we’re planning to

engage them in a way that

will fundamentally shape our

organization’s future.

I’m looking forward to another great year.

John Gill Chief Executive Officer

Message from NSI’s CEO

John Gill

Our Stories 2013 | 2014

John Gill at Manito Ahbee with Manitoba Premier Greg Selinger (left) and Metis entertainer Ray St. Germain

John Gill with Wanda Bradley from NBCUniversal

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Our highlights

NSI New Voices

2014 is the 10th anniversary of NSI New

Voices. Ninety-four young Aboriginal

adults have graduated and 85%* of them

are working in the industry or pursuing

further education. To celebrate 10 years

of the program, this year’s students made

a short film of NSI New Voices memories

from the last decade plus new interviews

with alumni, sponsors and supporters

of the program. It debuted at their

graduation ceremony.

2014 student Sonya Ballantyne won the

RBC Emerging Filmmakers Competition

at the 2014 Gimli Film Festival. 2011

NSI New Voices grad Leonard Sumner

won the 2014 Winnipeg Arts Council

RBC On the Rise award for his work as a

filmmaker, videographer and musician.

NSI was proud to nominate him.

NSI Aboriginal Documentary

After launching the course last fiscal, the

inaugural NSI Aboriginal Documentary

films had their first screening on March

21, 2014 as part of the Gimme Some Truth

Documentary Festival in Winnipeg. The

films were presented to a packed theatre,

followed by a lively and thoughtful Q&A

featuring the filmmakers and some of the

subjects of their films. The films are being

broadcast on MTS Stories from Home

and as a one-hour special on APTN and

aptn.ca.

This year, NSI Aboriginal Documentary

went national, accepting eight students

from across the country. We look forward

to seeing their films in 2015.

NSI Features First

We saw three NSI Features First films

complete principal photography: The Dark

Stranger from Chris Trebilcock and Glen

Wood, Two 4 One by Maureen Bradley and

Bang Bang Baby from Jeffrey St. Jules.

Leonard Sumner and Ursula Lawson with his RBC On the Rise award from the Winnipeg Arts Council

New NSI Aboriginal Documentary partners - John Gill and Ursula Lawson with RBC's Mark Schollenberg and Glenn Crook

Larry Wandowich (Manitoba Liquor & Lotteries); Elise Swerhone; Kari DeGroot (Manitoba Liquor & Lotteries); Gabriel Constant (NSI Aboriginal Documentary grad); John Gill (NSI CEO) at Gimme Some Truth Documentary Festival

2013-14 was a huge year for the

NSI Online Short Film Festival.

The number of short film submissions

ballooned from a couple hundred

to nearly 1,000 last year. As a result,

we now program an average of five

films each week, a significant

increase from the two films

previously programmed.

Along with the chance to win up

to $4,500, this year winning films

were also eligible for Canadian

Screen Award nominations.

*2013 statistic

FeaturesFirst

DEADLINE TO APPLY SEPT. 19, 2014

LEAPMAKE THE

MAUREEN BRADLEY WRITER/DIRECTOR, Two 4 One

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NSI had a lot to celebrate in 2013-14.

NSI Features First has proven to be an effective indicator of our grads’ successes and

our market relevance – three films that were developed through the course completed

principal photography this year, and in the last three years five features have been shot

in total. This is a huge achievement and says a lot about what NSI’s training can do.

It’s also a big year for NSI’s Aboriginal training programs. NSI New Voices’ 10th

anniversary and NSI Aboriginal Documentary going national have garnered a lot of

interest from the industry, media, sponsors and participants.

A big thank you to outgoing board co-chairs Raja Khanna and Brad Pelman – they have served the board very

capably and I appreciate the opportunity to continue their successes. Congratulations to Prem Gill on her

appointment as vice-chair of the board.

I’d also like to thank the entire board of

directors for their ongoing commitment to

NSI. Farewell to longtime board member Bruce

Leslie with our gratitude for his dedication to

the organization throughout his 14-year tenure.

Congratulations go to CEO John Gill, who

led the NSI staff through a challenging but

rewarding year. I also want to acknowledge

NSI’s many associate faculty members for

sharing their knowledge and giving our

students a quality, well-respected learning

experience. And thank you to our sponsors,

partners and supporters – their personal and

financial contributions are absolutely vital to us.

I’m looking forward to leading the NSI Board of

Directors and continuing to strengthen this organization.

Norm Bolen

Message from the chair of NSI’s Board of Directors

Norm Bolen Chair, NSI Board of DirectorsMedia & Broadcasting Consultant

NSI staff and board at Banff CLOCKWISE FROM TOP LEFT: Carole Vivier, Prem Gill, Michael Levine, Brendon Sawatzky, Raja Khanna, Shelly Tyler, John Gill, and Bruce Leslie

NSI’s Cast 2013 | 2014

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Associate FacultyDavid Barlow Writer/Producer

Chris Bell Production Executive, Movie Central

Edwina Follows Network Executive, Bell Media

John Galway Program President, Harold Greenberg Fund

Kevin Glasier CEO, Tactica Interactive

Danis Goulet Filmmaker

John Greyson Filmmaker

Martin Katz President, Prospero Pictures

Elizabeth Klinck Researcher, E Klinck Research

Laura Milliken Producer, Big Soul Productions

Alanis Obomsawin Director, National Film Board

Michael Prini Executive Producer/President, Primevista

Jason Ryle Executive Director, imagineNATIVE Film + Media Festival

Robin Smith President/Founder, KinoSmith

Mark Thorp Technical Resources Manager Deluxe Post Production

Board of DirectorsNorm Bolen (Chair, beginning June 2014) Media & Broadcasting Consultant

Prem Gill (Vice-Chair, beginning June 2014) Director, Content TELUS

Marlene Kendall (Finance Chair) Director, Internal Audit & Corporate Compliance Manitoba Liquor & Lotteries Corporation

Brad Pelman CEO, Kaleidoscope Entertainment and The Fremantle Corporation

Raja Khanna CEO, Television & Digital Blue Ant Media

Christine Shipton VP, Original Content Shaw Media

Carole Vivier CEO & Film Commissioner Manitoba Film & Music

Jean LaRose CEO Aboriginal Peoples Television Network (APTN)

Ron Suter EVP & General Sales Manager for Canada NBCUniversal Television Distribution

Michael A. Levine Chairman, Westwood Creative Artists Consultant, Historica-Dominion Institute

Marcia Martin SVP, Original Content Blue Ant Media

Virginia Thompson President Vérité Films

Bruce Leslie (until June 2014) Executive Director Conference Board of Canada

Staff and FacultyJohn Gill CEO

David Pollock Director, Finance

Melissa Kajpust Director, Programming (until June 2014)

Brendon Sawatzky Director, Programming (beginning June 2014)

Chris Vajcner Director, Communications & Revenue Development

Liz Hover Director, NSI Online

Brandice Vivier Senior Program Manager (until February 2014)

Ursula Lawson Manager, Programs & Development

Elise Swerhone Manager, Programs & Development

Shelly Tyler Manager, Programs & Development (beginning March 2014)

Lauren MacDiarmid Communications & Programs Coordinator

Laura Friesen Communications Coordinator (beginning October 2013)

Trinity Bruce NSI New Voices Program Coordinator

Julie di Cresce NSI Features First Program Advisor (beginning September 2013)

Lisa Jackson NSI Aboriginal Documentary Program Advisor (2014)

Sam Linton NSI Totally Television, NSI Lifestyle & Reality Series Producer Program Advisor

Lisa Meeches Aboriginal Training Programs Advisor

Jeff Newman NSI Aboriginal Documentary Program Advisor (2013)

Allan Novak NSI Lifestyle & Reality Series Producer Advisor

Karen Powell NSI Features First Program Advisor (2013)

Tactica Interactive Creative and technical partner

Doowah Design Inc. Creative and technical partner

Visit nsi-canada.ca for the complete list of 200+ associate faculty

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APRIL/MAY/JUNE 2013

APRIL

› My Awkward Sexual Adventure from Sean Garrity (NSI Features First) opens across Canada

› Merit Jensen Carr (NSI Global Marketing) wins the Don Haig award at Hot Docs Canadian International Documentary Festival

› NSI Aboriginal Documentary students attend Hot Docs

MAY

› NSI alumni win six Golden Sheaf awards at Yorkton Film Festival

› Cheyenne Rae’s One Last Cigarette, developed during her NSI New Voices training, screens at 1st Break Film Festival

Merit Jensen Carr

Cheyenne Rae interviewed by Global News during her 2012 grad

Sponsors and Supporters

JUNE

› Movie Central Script to Screen announced at Banff World Media Festival

› NSI Totally Television culminates at Banff

› NSI Totally Television-developed Less Than Kind’s fourth and final season debuts

Movie Central Script to ScreenA writer-oriented development program funded by Movie Central and delivered by the National Screen Institute.

2013-14 StudentsJason Filiatrault • Jessie Gabe • Ravi Steve Jeff Geddis • Doug Karr • Gerald Wexler

NSI Totally TelevisionA hands-on development training course for producer/writer teams serious about getting their series concept made.

2013 GraduatesKate Green • Jennifer Little • Aaron Champion • Alex Alcoba

in association with

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SEPTEMBER

› NSI Features First application deadline

› Michelle Latimer (NSI Drama Prize) and Jason Lapeyre (NSI Features First) featured in Playback’s 10 to Watch list

› Daniel Bekerman (NSI Features First) wins TIFF Pitch This! competition with Daniel Cockburn

JUNE/JULY/AUGUST/SEPTEMBER 2013

JUNE

› NSI Online Short Film Festival winners• Rhonda’s Party, directed by Ashley McKenzie

A&E Short Filmmakers Award and Shaw Media Fearless Female Director Award

• Mimespeak, directed by Tracy D. Smith Bite Comedy Award

JULY

› Justina Neepin’s (NSI New Voices) short film Mark premieres at Gimli Film Festival

AUGUST

› NSI Online Short Film Festival winners• The Wake of Calum MacLeod directed by Marc Almon

A&E Short Filmmakers Award

• My Black-Capped Angels/Mes anges à tête noire directed by Juliette Gosselin and Florence Pelletier Shaw Media Fearless Female Director Award

• Cattle Call directed by Matthew Rankin and Mike Maryniuk Bite Comedy Award

Elise Swerhone (director mentor) and Justina Neepin

Michelle Latimer and Jason Lapeyre

NSI Features FirstA development training launch pad for producer/writer teams looking to produce their first or second feature film with strong commercial appeal.

2014 Students ABOVE, CLOCKWISE FROM TOP LEFT:

Matt Watterworth • Scott Westby • Josh Epstein Kyle Rideout • Chris Craddock • Camille Beaudoin Joe Balass • Eisha Marjara


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OCTOBER 2013

› Marie Clements (NSI Storytellers, NSI Featuring Aboriginal

Stories Program) and Zoe Leigh Hopkins (NSI Featuring

Aboriginal Stories Program) win awards at imagineNATIVE

NSI's Lauren MacDiarmid and Hot Docs' Patrycja Cieniewicz at the Winnipeg Best of Hot Docs

› Maureen Judge’s (NSI Global Marketing) Living Dolls screens at the Austin Film Festival

› NSI’s alumni survey went out

› Best of Hot Docs in Winnipeg

Living Dolls


OCTOBER

› NSI Lifestyle & Reality Series Producer nomination deadline

NSI Lifestyle & Reality Series ProducerAn advanced training course which focuses on the specific skills required to produce a lifestyle or reality series.

2013-14 Students ABOVE, CLOCKWISE FROM TOP LEFT:

Veronica Saluzzi • Sylvie Brownlow • Ryan Valentini Andrew Murray • JD Scott • Meredith Veats

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NOVEMBER/DECEMBER/JANUARY 2014

Ursula Lawson with Shelly Glover, Minister of Canadian Heritage and Official Languages, at the NSI Aboriginal Documentary Traditional Feast

NOVEMBER

› NSI Online Short Film Festival winners• Margo Lily directed by Dane Clark and Linsey Stewart

A&E Short Filmmakers Award

• Seconds directed by Jordan Canning Shaw Media Fearless Female Director Award

• Cat vs. Man directed by Zia Marashi Bite Comedy Award

DECEMBER

› Michael Dowse’s (NSI Drama Prize) The F Word makes TIFF’s Top 10 Films of 2013

› Jordan Canning (NSI Drama Prize) recognized at the Women’s International Film & Television Showcase (WIFTS) Foundation International Visionary Awards for Canadian women in entertainment

The F Word

JANUARY

› NSI Aboriginal Documentary bootcamp begins

NSI Aboriginal DocumentaryA development launch pad for producer/director teams looking to produce a short documentary.

Faculty and 2014-15 Students ABOVE, CLOCKWISE FROM TOP LEFT:

Elise Swerhone (Program Manager) • Jennifer Bowen-Allen Bracken Hanuse Corlett • Jenna Neepin • Justina Neepin Ursula Lawson (Program Manager) • Brendon Sawatzky (Producer Advisor)

Chantal Rondeau • Amanda Strong • Michelle St. John Rebeka Tabobondung

› Wakening directed by Danis Goulet (NSI Drama Prize) and co-produced by Glen Wood (NSI Features First) and Jordana Aarons (NSI Totally Television, NSI Features First), screens at Sundance Film Festival

› NSI Online Short Film Festival winners• Clear Blue directed by Lindsay MacKay

A&E Short Filmmakers Award and Shaw Media Fearless Female Director Award

• The Seder directed by Justin Kelly Bite Comedy AwardSponsors and Supporters

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FEBRUARY 2014

NSI New Voices students learning camera techniques

NSI New Voices students and Elder Colin Mousseau building a tipi

Remedy

FEBRUARY

› NSI New Voices call for applications goes out

› Greg Spottiswood’s (NSI Drama Prize) Remedy premieres on Global

› NSI Features First-developed Two 4 One by Maureen Bradley begins principal photography

NSI New VoicesA culturally-sensitive training course that exposes young Aboriginal people aged 18-35 to a variety of creative and challenging employment opportunities in the film and television industry.

2014 Graduates ABOVE, CLOCKWISE FROM TOP LEFT:

Jared Bone • Joel Chartrand • Jaydon Flett • Maggie Moose

Amanda Kindzierski • Luther Alexander • Sonya Ballantyne

Gloria Burns • Sage Daniels


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MARCH

› NSI Drama Prize bootcamp begins

NSI Drama PrizeAn ambitious course that trains emerging filmmakers to develop and produce a short film.

2014-15 Students ABOVE, CLOCKWISE FROM TOP LEFT:

Lora Campbell • Lisa Rose Snow • Melva McLean

BJ Verot • Natalie Urquart • Tori Larsen • Shannon Fewster

Christine Buijs

MARCH 2014

H&G

They are always there: personally, financially and professionally. Without our sponsors and supporters NSI would not exist. Thank you for being part of our stories.


Standing behind William F. White International CEO Paul Bronfman at their 50th anniversary celebration in Winnipeg: LEFT TO RIGHT: Holly Marchuk (NSI Drama Prize), NSI’s Ursula Lawson and Melissa Kajpust, Dion Telesky (NSI Drama Prize/NSI New Voices), Krystle Snow (actor), WFW’s Steve Morrisson, NSI’s Chris Vajcner

› H&G from Danishka Esterhazy (NSI Drama Prize, NSI Features First) and Ashley Hirt (NSI New Voices) screens at the Canadian Film Festival

› Sudz Sutherland (NSI Totally Television) wins a Canadian Screen Award for best direction in a drama program or miniseries for The Phantoms

Photos: Dominic Chan • Vergil Kanne • David Lipnowski • Ian McCausland • Jalani Morgan • Jan Thijs

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Independent Auditors’ Report

To the Directors of National Screen Institute–Canada:

We have audited the accompanying financial statements of National Screen Institute–Canada, which comprise the statement of

financial position as at March 31, 2014, and the statements of operations, changes in net assets and cash flows for the year then ended,

and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian

accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enable

the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance

with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and

perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.

The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the

financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant

to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate

in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit

also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by

management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of National Screen Institute–Canada

as at March 31, 2014 and the results of its operations, changes in net assets and its cash flows for the year then ended in accordance with

Canadian accounting standards for not-for-profit organizations.

Chartered AccountantsWinnipeg, ManitobaJune 26, 2014

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Statement of Financial Position

2014

2013

AssetsCurrent

Cash (NOTE 3) 60,389 56,637

Accounts receivable (NOTE 4) 232,135 233,367

Investments (NOTE 5) 484,059 575,966

Prepaid expenses 25,114 38,965

801,697 904,935

Capital assets (NOTE 6) 23,813 33,087

Restricted funds (NOTE 7) 202,753 197,049

1,028,263 1,135,071

LiabilitiesCurrent

Accounts payable and accruals 274,243 292,228

Deferred contributions (NOTE 8) 527,454 612,707

801,697 904,935

Net AssetsInvested in capital assets 23,813 33,087

Restricted (NOTE 7) 202,753 197,049

226,566 230,136

1,028,263 1,135,071

Approved on behalf of the Board

As at March 31, 2014

The accompanying notes are an integral part of these financial statements.

Marlene Kendall, Finance Chair NSI Board of Directors

Norm Bolen, Chair NSI Board of Directors

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Statement of Operations

2014 2013

RevenuesTelefilm 235,666 206,885

Provincial government 176,700 251,700

Provincial agencies 75,000 57,000

Municipal agencies 25,000 30,000

Private sector 893,961 789,611

Foundations and trusts 25,853 3,333

Project revenue 87,088 94,095

Interest 3,798 3,204

1,523,066 1,435,828

Contributions of goods and services - 2,750

1,523,066 1,438,578

2014 2013

ExpensesAdministration 227,101 244,776

Program delivery 1,299,535 1,183,864

1,526,636 1,428,640

Consumption of goods and services - 2,750

1,526,636 1,431,390

Excess (deficiency) of revenues over expenses (3,570) 7,188

For the year ended March 31, 2014


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Statement of Changes in Net Assets

Invested in Capital Assets Restricted Unrestricted 2014 2013

Net assets, beginning of year 33,087 197,049 - 230,136 222,948

Excess (deficiency) of revenues over expenses - - (3,570) (3,570) 7,188

Transfers (NOTE 7) - 5,704 (5,704) - -

Invested in capital assets 4,106 - (4,106) - -

Amortization (13,380) - 13,380 - -

Net assets, end of year 23,813 202,753 - 226,566 230,136

For the year ended March 31, 2014For the year ended March 31, 2014


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Statement of Cash flows

2014 2013

Cash provided by (used for) the following activitiesOperating

Excess (deficiency) of revenues over expenses (3,570) 7,188

Amortization 13,380 12,242

9,810 19,430

Changes in working capital accounts

Accounts receivable 1,232 90,140

Prepaid expenses 13,851 (8,321)

Accounts payable and accruals (17,985) 170,670

Deferred contributions (85,253) 156,465

(78,345) 428,384

Investing

Advances (repayment) of restricted funds (5,704) 1,256

Purchase of capital assets (4,106) (20,685)

(9,810) (19,429)

Increase (decrease) in cash resources (88,155) 408,955

Cash resources, beginning of year 632,603 223,648

Cash resources, end of year 544,448 632,603

Cash resources are composed of:

Cash 60,389 56,637

Investments 484,059 575,966

544,448 632,603



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Notes to the Financial Statements

1. Nature of operations

The National Screen Institute–Canada (“NSI”) was incorporated on April 7, 1986, under Part II of the Canada Corporations Act as a corporation without share capital. NSI’s Vision Statement: “NSI is the leading national centre of excellence in the training of the finest content creators for Canada’s film, television and interactive media sectors.” NSI’s Mission Statement: “NSI is the leader in developing the careers and projects of Canadian writers, producers and directors by delivering professional, market-driven and innovative training that gets results.” NSI has its head office in Winnipeg, Manitoba.

2. Significant accounting policies

The financial statements have been prepared in accordance with Canadian accounting standards for not-for-profit organizations as issued by the Accounting Standards Board in Canada and include the following significant accounting policies:

Cash and cash equivalents

Cash and cash equivalents include balances with banks and short-term investments with maturities of three months or less. Cash subject to restrictions that prevent its use for current purposes is included in restricted cash.

Measurement uncertainty

The preparation of financial statements in conformity with Canadian accounting standards for not-for-profit organizations requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.

Accounts receivable are stated after evaluation as to their collectability. Provision is made for amortization of capital assets based on an estimate of their useful lives. These estimates and assumptions are reviewed periodically and, as adjustments become necessary they are reported in income in the periods in which they become known.

Capital assets

Capital assets are recorded at cost. Amortization is provided using the straight-line method at rates intended to amortize the cost of assets over their estimated useful lives.

Rate

Computer equipment 20%

Computer software 20%

Furniture and fixtures 12.5%

Office equipment 20%

Lease hold improvements 20%

Program equipment 20%

Revenue recognition

NSI follows the deferral method of accounting for contributions. Restricted contributions are recognized in the year when the related expenses are incurred or as receivable if the amount to be received can be reasonably estimated and the collection is reasonably assured. Unrestricted contributions are recognized when received or the amount to be received can be reasonably estimated and the collection is reasonably assured.

Contribution of goods and services

NSI records contributions of donated goods and services as both revenue and expenses at estimated fair market value of advertising, travel, and production and technical expenses.

Income taxes

NSI is a not for profit charitable organization registered under the Income Tax Act, and as such, is exempt from income taxes and is able to issue donation receipts for income tax purposes.

Long-lived assets

Long-lived assets consist of capital assets with finite useful lives. Long-lived assets held for use are measured and amortized as described in the applicable accounting policies.

NSI performs impairment testing on long lived assets held for use whenever events or changes in circumstances indicate that the carrying value of an asset, or group of assets, may not be recoverable. Impairment losses are recognized when discounted future cash flows from its use and disposal are less than the asset’s carrying amount. Impairment is measured as the amount by which the asset’s carrying value exceeds its fair value. Any impairment is included in operations for the year.


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2. Significant accounting policies (Continued)

Financial instruments

NSI recognizes its financial instruments when NSI becomes party to the contractual provisions of the financial instrument. All financial instruments are initially recorded at their fair value.

NSI subsequently measures investments in equity instruments quoted in an active market at fair market value. Fair value is determined by published prices. Investments in equity instruments not quoted in an active market are subsequently measured at cost less impairment. With the exception of those instruments designated at fair value, all other financial assets and liabilities are subsequently measured at amortized cost.

Transaction costs and financing fees directly attributable to the origination, acquisition, issuance or assumption of financial instruments subsequently measured at fair value are immediately recognized in the excess (deficiency) of revenues over expenses for the current period. Conversely, transaction costs and financing fees are added to the carrying amount for those financial instruments subsequently measured at amortized cost or cost.

3. Cash

Cash balances are maintained in a monthly savings account with tiered interest rates ranging from 0.22% to 0.87%. (2013–0.22% to 0.89%)

4. Accounts receivable

2014 2013

Trade receivables 227,354 226,213

GST receivable 4,781 7,154

232,135 233,367

5. Investments

Investments are held in a money market mutual fund reported at fair market value. The rate of interest earned is floating based on the mutual fund performance.


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6. Capital assets

CostAccumulated amortization

2014 Net book value

Computer equipment 55,996 42,169 13,827

Computer software 10,965 8,126 2,839

Furniture and fixtures 42,979 39,718 3,261

Office equipment 43,816 40,712 3,104

Lease hold improvements 14,371 13,589 782

Program equipment 11,725 11,725 -

179,852 156,039 23,813

CostAccumulated amortization

2013 Net book value

Computer equipment 55,328 37,004 18,324

Computer software 10,633 7,253 3,380

Furniture and fixtures 42,838 35,099 7,739

Office equipment 42,417 38,773 3,644

Lease hold improvements 12,807 12,807 -

Program equipment 11,725 11,725 -

175,748 142,661 33,087

7. Restricted net assets

Cash of $202,753 (2013–197,049) maintains internally restricted by NSI’s Board of Directors to provide for the estimated costs in the event of winding up the operations of NSI.

Transfers of $5,704 (2013–($1,255)) were approved by the Board of Directors for the purpose of increasing (2013–decreasing) the restricted cash balance.

8. Deferred contributions

2014 2013

Administration 9,163 13,341

Aboriginal Documentary 112,627 147,575

Drama Prize 110,355 64,236

Features First 129,575 156,318

Industry Centre 30,000 35,000

New Voices 35,946 42,781

Script to Screen 41,493 38,201

Short Film Festival 53,295 52,255

Totally Television 5,000 63,000

527,454 612,707


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9. Commitments

NSI has negotiated a $275,000 credit facility with RBC available at the borrower’s option, a $75,000 corporate Visa account for miscellaneous travel and other expenses, and a $200,000 demand operating and/or overdraft loan secured by accounts receivable.

Interest on amounts due are payable at prime plus 1.25%. Security is a general security agreement registered in Manitoba. Notwithstanding compliance with covenants of the credit facility, borrowings are repayable on demand.

NSI has one year remaining on an office lease for 4,056 square feet at 400–141 Bannatyne Avenue which commenced January 2012. Minimum annual rent is $77,364.

NSI has two years remaining on a lease agreement for office equipment. Minimum annual payments are $3,104.

10. Financial instruments

NSI as part of its operations carries a number of financial instruments. It is management’s opinion that the NSI is not exposed to significant interest, currency or credit risks arising from these financial instruments except as otherwise disclosed.

Credit concentration

Financial instruments that potentially subject NSI to concentrations of credit risk consist mainly of accounts receivable from private funders and government bodies. At March 31, 2014, NSI had 31% (2013–79%) in accounts receivable from two (2013–two) sources. These amounts are considered collectible.

11. Economic dependence

A major portion of NSI’s revenue is derived from donations and funding grants. As a result, any reduction in funding may affect the NSI’s ability to continue future operations.



National Screen Institute - Canada (NSI) operates with ongoing funding from Core Funders: Manitoba Tourism, Culture, Heritage, Sport and Consumer Protection , the City of Winnipeg through the Winnipeg Arts Council; Benefactors: Shaw Media and Telefilm Canada; Patrons: Bell Media and Corus Entertainment; Builders: Rogers, The Brian Linehan Charitable Foundation and NBCUniversal; Strategic Sponsors: Entertainment One, Super Channel and Blue Ant Media; Friends: ZoomerMedia, Manitoba Liquor & Lotteries, APTN and RBC Emerging Artists Project.

nsi-canada.ca National Screen Institute – Canada (NSI) Suite 400, 141 Bannatyne Avenue, Winnipeg, Manitoba R3B 0R3 tel: 204.956.7800 | toll free: 800.952.9307 | fax: 204.956.5811 © 2014 National Screen Institute - Canada

YOU keep us up-to-date with your projects and successes, and we proudly share them with the world.

WE want to talk more about the changes happening in our industry.

YOU are the resource that knows us best and you have so much insight and energy for the future.

WE want you to be part of an ever-evolving NSI.

2 0 1 4 - 2 0 1 5 I S

THE YEAR OFNSI ALUMNI

TOGETHER we will do great things for the Canadian screen industry.

SO PROUD OF OUR 20 ALUMNI WITH 14 FILMS AT TIFF 2014!

NSI 2013-14 Annual Report

Documents

Transcript of NSI 2013-14 Annual Report