ANNUAL REPORT2016-2017

Folk Fest acts as the musical heartbeat

of the city – JP Hoe

“ “

photo by Joey SenftThe Staves on Main Stage

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CollaborationWe work with others who share our values to achieve our goals and build something greater. We cherish the culture of volunteerism and generosity of spirit that are the lifeblood of the Winnipeg Folk Festival.

Creativity We inspire and engage our community by presenting strong and diverse talent, nurturing creativity and promoting artistic freedom.

InclusivenessWe create environments that are welcoming, safe, accessible and respectful. We honour authenticity and celebrate diversity within our community.

LeadershipAs leaders within the local and national arts community, we embrace best practices, share our expertise and learn from the experience of others.

SustainabilityWe respect the contributions of those who have created our culture and organization. We are adaptable, resilient and thrive throughout change.

Our 2016-17 year has come with its fair share of challenges but we are fortunate to be part of the strong and supportive community that helps to support the long-term sustainability of the festival. The 2016 festival was certainly one to remember, with excellent workshops such as The Bluegrass Situation North, Native North America and Under the Covers, and an exceptional collection of collaborative artists from across Canada and around the world creating musical moments that were unique, once-in-a-lifetime experiences. Our Hear All Year concert series continues to bring folk music to Winnipeg venues year-round, supporting our artists as they develop and allowing our audiences to bring some of that “Folk Fest feeling” to their fall, winter and spring seasons. We are so grateful for the ongoing commitment of our people, including the volunteers, donors, sponsors, funders, staff, board and, of course, the dedicated audience members. All of you, our stakeholders, play important roles in making our festival a special part Manitoba’s culture. Thank you for being a part of our Folk Fest family!

Karen-Denise Cyr Board Chair

Lynne SkromedaExecutive Director

Creating experiences of discovery and learning through the celebration of people & music

Winnipeg Folk Festival Annual Report 2016-17

photo by Joey Senft

Values

Mission

TABLE OF CONTENTS

Message from The Chair and Executive Director 1Winnipeg Folk Fest 2Festival Highlights 3Hear All Year 4Community Programs 5Cause for Celebration 6Environmental Report 7 Thank You to Our Supporters 8

2016 – 17 Financial Statements 9

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Winnipeg Folk Fest July 7-10 Alan Doyle & The Beautiful GypsiesAndy ShaufBasia Bulat

Ben Caplan & The Casual SmokersBenedettiville

BoogatCastlemoon Theatre

Charlie HopeCœur de pirate

Colin HayDan Frechette & Laurel Thomsen

Drum CafeGrant Anderson with Sheldon Dawson

Gustavo and the Green FoolsHubby Jenkins

Jake Chénier BandJay Stoller and Drum Cafe

Jennifer CastleJim Bryson

Krar CollectiveLarry Campbell & Teresa Williams

Lemon Bucket OrkestraLes Hay Babies

Les Noces GitanesLisa LeBlancLord Huron

Loudon Wainwright IIILucius

Martin HarleyMatt Epp

Matthew ByrneMeredith Axelrod

Mikaela DavisMilky Chance

MoulettesNative North America:

A Selection Of Musical Trailblazers feat. Willie Thrasher, Willy Mitchell, Duke Redbird,

Eric Landry and ShingooseNicki Bluhm

Noam PikelnyOkee Dokee Brothers

OysterbandParsonsfield

Possessed by Paul JamesRayland BaxterRed Moon Road

Rosie & the RivetersRuby & Smith

Ryan Adams and The ShiningRyley Walker

Sam Roberts BandSan Fermin

Sand SkyscraperSon Little

Steve DawsonThe Brothers ComatoseThe Crooked Brothers

The Dead SouthThe Eagle Rock Gospel Singers

The East PointersThe Foggy Hogtown Boys

The Funk HuntersThe Head and the Heart

The Hooten HallersThe Infamous Stringdusters featuring Nicki Bluhm

The Lion’s DenThe Paper Kites

The StavesThe Wainwright Sisters

The Wild ReedsTomatoTomato

Twin PeaksVaudou Game

Wild ChildWilliam Prince

Yemen Blues with Ravid Kahalani

2016 PERFORMERS

Artistic Vision Music is powerful.It changes perceptions, inspires imaginations, and impacts lives in a personal and meaningful way.

Driving the evolution of folk music, the Winnipeg Folk Festival explores and redefines its relevance in today’s world. By bringing together emerging talent and well-established artists, we influence and reshape the genre. We create opportunities for collaboration and spontaneity and will always push beyond expectations.

photo by Jenn Kostesky

photo by Joey Senft

photo by Jenn Kostesky

Lord Huron

San Fermin

LuciusLoudon Wainwright III & The Wainwright Sistersphoto by Jenn Kostesky

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Artistic Achievement AwardHonoured to Loudon WainwrightIt was a folk family affair on Main Stage Sunday evening when Loudon Wainwright III received the Winnipeg Folk Festival’s Artistic Achievement Award with his daughters looking on. Iconic songwriters in their own right, Martha Wainwright and Lucy Wainwright Roche shared this special experience with their father. Earlier that day, they all shared the Shady Grove stage where the audience was treated to familial on-stage banter and great music.

Native North America:A Selection of Musical Trailblazers Renowned for the once-in-a-lifetime collaborations, Winnipeg Folk Fest delivered once again many magical moments in its workshops throughout the weekend, including Native North America: A Selection of Musical Trailblazers where Indigenous artists Willie Thrasher, Willy Mitchell, Duke Redbird, Eric Landry and Shingoose shared powerful stories, poetry and music off of their 2016 Grammy-nominated compilation, Native North America (Vol. 1): Aboriginal Folk, Rock, and Country 1966-1985. William Prince lent his voice to songs by artists who have passed so their music could be heard by Winnipeg Folk Fest audiences and live on in memory. The workshop was presented with APTN.

Festival Highlights

photo by Buio Assis

photo by Jenn Kostesky

photo by Chris Douglas

photo by David Quiring

Under the Covers Tribute Workshop The Under the Covers workshop on Sunday was the chance for many artists to pay homage to musical greats Prince, Merle Haggard, David Bowie and Guy Clark. There was standing room only at this popular workshop where Martin Harley, Red Moon Road, The Crooked Brothers, Ben Caplan, Jim Bryson, The Brothers Comatose and The East Pointers celebrated the music of legends who had left us in the past year.

The Bluegrass Situation NorthLA-based The Bluegrass Situation has programmed bluegrass jams at festivals such as Bonnaroo, and for the first time in Canada, they brought the party to the Winnipeg Folk Fest. Big Blue @ Night was transformed on Friday night for The Bluegrass Situation North where The Foggy Hogtown Boys, The Wild Reeds and The Infamous Stringdusters featuring Nicki Bluhm took the stage. Banjo hero Noam Pikelny hosted, and the night culminated in a bluegrass version of The Eagles’ iconic record Hotel California, played in its entirety to an enraptured audience.

Nicki Bluhm

Eric Landry

WINNIPEG FOLK FESTIVAL 2016–17 ANNUAL REPORT

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Corb Lund and The Hurtin’ Albertans with Daniel Romano

Coeur de pirate

Frazey Ford with Phil Cook •

Matt Andersen & the Bona Fide

Amelia Curran with William Prince

Frank Turner & The Sleeping Souls with Northcote & Mo Kenney

De Danann

JONATHAN RICHMAN featuring TOMMY LARKINS on the drums!

Wintersleep with Evening Hymns and Walrus

Spirit of the West

Aidan Knight with Laura Sauvage

Jason Collett with Kalle Mattson

Alberta Cross with Sky White Tiger, Grand Canyon and Ozconscious

Old Man Canyon with Brady Allard

Blitzen Trapper with Quiet Life

Angel Olsen

Built to Spill with Rudy Waltz and the Micah Erenberg Band

Sturgill Simpson

Rodriguez with Arum Rae •

Royal Canoe Album Release with Living Hour

Hayden Everything I Long For 20th Anniversary Tour

Basia Bulat with Oh Pep! *

James McMurtry with Scott Nolan

Andy Shauf *

C.W. Stoneking with Washboard Hank

The Dead South with The Reverend Rambler

Birds of Chicago

Boy & Bear with Cobi

The Strumbellas with The Zolas (Heritage Classic Post Game Concert)

Terra Lightfoot with Nation of Two

Great Lake Swimmers with Megan Bonnell

Donovan Woods & Joey Landreth *

Shred Kelly with Bullrider

James Vincent McMorrow with Allan Rayman *

The Paper Kites with Horse Thief * Sold out two nights in a row

Hawksley Workman, Almost a Full Moon Tour *

The Funk Hunters feat. Klassik and Dirty Radio *

JP Hoe Hoe Hoe Holiday Show

Lee Ranaldo (Of Sonic Youth)

* denotes sold out shows

39 CONCERTS AT 10 VENUES

ACROSS THE CITY

HEAR ALL YEAR CONCERTS

Hear All Year Free Community Music

Winnipeg Folk Festival Wednesdays at the CubeFour free lunch hour shows at Old Market Square, co-presented with the Exchange District Biz featuring ROGUE (yoga, music and art), Good for Grapes, The 24th Street Wailers, Roger Roger, and Jaxon Haldane. This year, we expanded our partnership with the Biz to include discounts at Exchange District restaurants so people could enjoy a picnic lunch and a concert in the park.

photo by Matt Duboff

Basia Bulat

Eight free In The City afternoon workshops at the Millennium Library featuring music by Winnipeg’s greatest singer-songwriters.

We participated in Culture Days by presenting Young Performers Program alumni Hugh Scanlon and Haitia with Emma Lytle at The Forks Under the Canopy.

Eighteen free family live music events at libraries across Winnipeg during spring break for our Take Your Child to the Library Day.

Open Mics co-promoted with Manitoba Music at a new venue, The Handsome Daughter.

Eight free Folk For Families Shows at the Millennium Library with local children’s musicians to sing along and dance with.

Fort Whyte Alive’s Lake Shaker was a sold out event and we proudly presented past Young Performers Program participant, the Micah Erenberg Band.

Folk Fest performer William Prince kicked off the festival on July 6 with a free lunchtime show in downtown Winnipeg at Air Canada Park.

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Community Programs

Stingray Young Performers ProgramThe program gives musicians between the ages of 14 and 24 the opportunity to work on their music with festival artists and perform on Shady Grove stage in front of a festival audience. Thirty-seven musicians were hand-picked by a jury to work with The Crooked Brothers, Dan Frechette & Laurel Thomsen, Jim Bryson, and Matt Epp. Many participants go on to become part of the festival’s main lineup, including Daniel Jordan of Red Moon Road, Jesse Matas of The Crooked Brothers and Farideh Olsen of Rosie and the Riveters in 2016.

“[The program]is a springboard for those artists that are truly ready for “graduation” into the Canadian and global music scene.”

– Matt Epp, mentor

MTS Future First Musical Mentors ProgramThe program offers students a chance to write and record with local musicians. In its seventh year, Keri Latimer (Leaf Rapids/Nathan Music Co), Rusty Matyas (Imaginary Cities) and Vanessa Kuzina (Oh My Darling) mentored students from eight schools in the city.

“Students come away from the project feeling as if they have actually done something ‘real’ and meaningful, whose success wasn’t measured with a grade.”

- Chris Rempel, Churchill High School teacher

Folk SchoolOur Folk School offers opportunities for people to learn music in a group setting and connect through song. The ever-popular ukulele classes were offered again in 2016 as well as mandolin, a class that taught acoustic guitar flatpicking technique and another about the three-finger banjo technique.

Newcomer CrewSince 2010, this program has provided training and support to volunteers who are new Canadians. We were thrilled to have six youth and 13 adult volunteers join our team in 2016.

Guest for a DayWe welcomed 500 people from 30 not-for-profit organizations to the festival as part of our Guest for a Day program. This is our ninth year operating this program that offers a day at the festival free of charge with transportation, meals and a guided tour. Syrain and Iraqi refugees attended the festival for the first time through the program, some who had only arrived in Canada one month prior. They spent their day singing, playing instruments and connecting with each other through music.

“This is what the festival is all about. Finding drums and connecting with your [community].”

– Wendy Elliott, GFAD volunteer

Mentor Matt Epp with Stingray Young Performers

photo by David Quiring

photo by Chris P. Bakon

WINNIPEG FOLK FESTIVAL 2016–17 ANNUAL REPORT

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• Best Family Program at a Festival by Canadian Music Week

• Best of Winnipeg: Reader’s Choice Award – Winnipeg Free Press

• #7 on BizBash Top 100 Events in Canada list

• 2,743  volunteers

• 121 coordinators and    assistant coordinators

• 735 first-time volunteers

• 57 crews: 8 year-round and    a volunteer board

“I’m very proud to be part of such a beautiful volunteer family. It’s the highlight of my year!”

-Volunteer

Glass BanjoWe presented our Glass Banjo Awards on Main Stage to invaluable partner MTS and the late Bob Frayer, a longtime volunteer of the festival also known as “Origami Bob.” The awards recognize festival supporters and volunteers who have made a significant contribution to the organization over the years.

Cause for Celebration MilestonesWe are honoured and proud to have

so many committed volunteers!

40 YearsRuth Livingston

Sarah Gwen Peters

30 YearsEd BachewichRay Bachewich

Diana MontgomeryBetty Rowbotham

Janet WasneyRick Winzinowich

20 YearsJosh Ayers

Bromley BasfordNeil ColiganRon Dixon

Darrell EnglishBarbara Fuller

Danielle HarlingCraig HendersonDanielle Johnson

Jen KirkwoodDarlene KretchmerChantal LeDorze

Bruce LeierKemlin Nembhard

Vic PankratzLorne Penner

Al RibbleKelvin SeifertJames Smith

Carolyn StadlerBob Stafford

Diana StaffordDarlynne Trudeau

John Yim

Volunteers receiving milestone recognitions

Marlene Frayer & Kim FrayerMTS

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• 2,743  volunteers

• 121 coordinators and    assistant coordinators

• 735 first-time volunteers

• 57 crews: 8 year-round and    a volunteer board

Environmental Report Winnipeg Folk Fest

Bottled Water-Free

In 2014 we were able to discontinue the sale of bottled water at the festival by offering water refill stations throughout the site.

In the three years we have been bottled water free, we have saved over 300,000 bottles from being consumed at the festival.

The 2016 festival marked the 20th year of our reusable plate program!

By using reusable plates for meals, we save 100,000 paper plates each festival. That is the equivalent of one person using a paper plate for every meal for 90 years!

Each year our campground Enviro volunteers collect and sort discarded beer cans for deposit return.

This year we returned 44,174 cans!

Money received from deposit returns goes directly back into the festival in the form of campground improvements.

This year, 3,727 people parked their vehicles and opted to ride the Folk Fest Express.

By taking the Express they saved 7.33 tonnes of CO2 emissions. The equivalent of driving an average car for almost 12 days straight!

Can Return

5-Year Waste Diversion Comparisons

Reusable Plates 

https://www.foodandwaterwatch.org/sites/default/files/free_your_event_from_bottled_water_guide.pdfhttps://www.delijn.be/en/overdelijn/organisatie/zorgzaam-ondernemen/milieu/co2-uitstoot-voertuigen.html

Since 2012 we have increased our landfill diversion rate from 43.13% to 60.46%

Festival Express

WINNIPEG FOLK FESTIVAL 2016–17 ANNUAL REPORT

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SUPPORTERS

MEDIA FUNDERS

since 1998

SOUND ART

www.HighSpeedCrow.ca

$10,000 +Johnston Group IncManitoba HydroManitoba Liquor & LotteriesThe Gail Asper Family Foundation Inc

$5,000 – $9,999CUPE NationalPaquin Entertainment GroupAnonymous (1)

$1,000 – $4,999Alcom Electronic CommunicationsArthur J. Gallagher Canada LimitedBeaver Bus LinesDavid & Ruth AsperDavid Stang & Kristel van IneveldGail Asper & Michael PatersonGerry & Chris CoutureLea marc inc.Santa Lucia PizzaWawanesa Mutual Insurance Co.

$500 - $999Douglas FinkbeinerHelene & David SwardJacquelyn Sturton & Michael AttasKatarina KupcaKristine Betker & Eric KananojaLarry KimacovichMarcelle & Carl HochheimMoksha Yoga KildonanTed Bock & Liane Chalmers-BockTrudy Schroeder & Norm Dyck

Annual Donors February 1, 2016 – January 31, 2017 Friends$250 - $499Benita CohenBilly Brodovsky & Libby YagerChris Frayer & Miriam JezikDaniel Levin & Lilian BoninIris ReimerJosh & Sasha ThiemKarla Ferguson & Sean McManusKelly McArthurKevin Seifert & Barbara Fuller Lottie Enns-BraunLynne SkromedaMark Etkin & Gloria RathwellMaureen KraussMurray & Gail SingerNoreen MianPaul LaporteStephen Brodovsky & France AdamsYvonne Peters & Howard Miller

$50 - $249Andrea BurgoyneArwene Hele & Taavo SultsBarbara BowdenBetter Than Baba’sBill & Pat ReidBrendan & Barbara CarruthersBruce RoeCarla FriesenCarol MatsumotoCathy LysackChris Dooley & Trish SaleChristine Kennedy & Michael SharpeDana Moffatt

Thank You to Our Supporters As a charitable, non-profit arts organization, the Winnipeg Folk Festival is

extremely grateful to our donors, funders and sponsors who ensure we deliver

a world-class musical experience and a sustainable ‘home’ for our Folk Fest

community. Your continued support and goodwill becomes part of the shared

energy that makes our festival a distinctively Manitoba experience.

Thank you!

Pantone 186

“Big Rock Brewery has been involved with the Winnipeg Folk Festival for 18 years and is very proud of our partnership and what it means to the community. Partnering with organizations with shared values enables Big Rock to deliver on our brand promise and engage in conversations that matter to not only us, but to our customer and the community as well.”

-Scott Matheson, Marketing Manager, Big Rock Brewery

“The Folk Fest for our family is a time to share with friends and to explore all the amazing things life has to offer in one weekend in July. Time, music, art, campers and glow sticks! We hope our contribution can make a difference and help support a festival that generations have come to love and cherish!”

- Marcelle & Carl Hochheim, donors

Dawn PayneDoug & Sandra HolmesDylan BaertElizabeth TyndallEthan Poskanzer & Judy NisenholtGeorgia Kerr & Duane CheskeyIn Memory of Carter HoldsworthIrina Ivanov BissonnetteJane & David FrayerKaren-Denise Cyr & John McLennanKathy & Rollin PennerKatrina SchroederKirsten Earl McCorristerKristine SmithLiam MartinLinda CubbidgeLisa Holowchuk & Brad ParkMargo JohnstonMark & Zoe SimkinMarlene SternMike & Kathy BaudicMorgan Hamill & Damon MitchellMyrna LattanziOly Backstrom & Laura BoldtPravin & Aruna HingwalaRaegan SwansonRobin AllanRowena LunnSandy PophamShawna CooperSimba Safari GrillTrish Steadman & Rob Franklin

Beaver Bus LinesBrown-FormanChristie LitesCre8ive SuppliesE. & J. Gallo Winery CanadaExclusive Bus LinesFalcon Trails ResortGNR SportsKing’s TransferManitoba Film & MusicManitoba MusicManitoba Teachers’ SocietyMikes Beverage CompanyMom’s PantryPulse CanadaRoyal Sports

INVESTORS PARTNERS

LOFT

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Friends

ADVISORY · ASSURANCE & ACCOUNTING · TAXATION · TRANSACTION CONSULTING

INDEPENDENT AUDITOR'S REPORT ON THE SUMMARY FINANCIAL STATEMENTS

To the Members ofThe Winnipeg Centennial Folk Festival Inc.

Report on the Summary Financial Statements

The accompanying summary financial statements of The Winnipeg Centennial Folk Festival Inc., whichcomprise the summary statement of financial position as at January 31, 2017, the summary statement ofoperations and the summary statement of changes in net assets for the year then ended, and relatednote, are derived from the audited financial statements of The Winnipeg Centennial Folk Festival Inc. forthe year ended January 31, 2017 prepared in accordance with Canadian accounting standards for not-for-profit organizations. We expressed a qualified audit opinion on those financial statements in ourreport dated April 5, 2017 (see below).

The summary financial statements do not contain all the disclosures required by Canadian accountingstandards for not-for-profit organizations. Reading the summary financial statements, therefore, is not asubstitute for reading the audited financial statements of The Winnipeg Centennial Folk Festival Inc.

Management's Responsibility for the Summary Financial Statements

Management is responsible for the preparation of a summary of the audited financial statements on thebasis described in Note 1 to the summary financial statements.

Auditor's Responsibility

Our responsibility is to express an opinion on the summary financial statements based on ourprocedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810,Engagements to Report on Summary Financial Statements.

Opinion

In our opinion, the summary financial statements derived from the audited financial statements of TheWinnipeg Centennial Folk Festival Inc. for the year ended January 31, 2017 are a fair summary of thosefinancial statements on the basis described in Note 1 to the summary financial statements. However, thesummary financial statements are subject to the equivalent scope limitation as the audited financialstatements of The Winnipeg Centennial Folk Festival Inc. for the year ended January 31, 2017.

The scope limitation on the audited financial statements of The Winnipeg Centennial Folk Festival Inc. isdescribed in our basis for qualified opinion in our report dated April 5, 2017. Our qualified audit opinion isbased on the fact that, in common with many charitable organizations, the completeness of donationsand fundraising revenues are not susceptible to satisfactory audit verification. Accordingly, ourverification of these revenues was limited to the amounts recorded in the records of the organization andwe were not able to determine whether any adjustments were necessary to donations and fundraisingrevenue, excess revenue, deferred revenue, deferred contributions, deferred capital contributions and netassets. Our qualified audit opinion states that, except for the possible effects of the described matter, theaudited financial statements present fairly, in all material respects, the financial position of The WinnipegCentennial Folk Festival Inc. as at January 31, 2017, and the results of its operations and its cash flowsfor the year then ended in accordance with Canadian accounting standards for not-for-profitorganizations.

April 5, 2017Winnipeg, Canada Chartered Professional Accountants

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THE WINNIPEG CENTENNIAL FOLK FESTIVAL INC.

Summary Statement of Financial Position

January 31, 2017

2017 2016

Assets

Current assets:Cash $ 813,436 $ 681,004Accounts receivable 238,360 347,474Government remittances recoverable 2,375 -Assets to be transferred 427,083 369,500Inventory - 20,291Prepaid expenses and deposits 136,861 54,301

1,618,115 1,472,570

Assets to be transferred - 298,000

Capital assets 4,208,639 4,692,818

$ 5,826,754 $ 6,463,388

Liabilities and Net Assets

Current liabilities: Accounts payable and accrued liabilities $ 89,845 $ 104,651Government remittances payable - 2,566Deferred revenue 197,033 188,070Deferred contributions 40,000 40,000Current portion of obligation for assets to be transferred 427,083 369,500Loan payable 204,939 217,083

958,900 921,870

Obligation for assets to be transferred - 298,000

Deferred capital contributions 2,874,500 3,037,912

3,833,400 4,257,782

Net assets:Invested in capital assets 1,129,200 1,437,824Internally restricted 102,293 96,057Unrestricted 761,861 671,725

1,993,354 2,205,606

$ 5,826,754 $ 6,463,388

See accompanying note to the summary financial statements.

APPROVED ON BEHALF OF THE BOARD:

_____________________________ Director

_____________________________ Director

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THE WINNIPEG CENTENNIAL FOLK FESTIVAL INC.

Summary Statement of Operations

Year ended January 31, 2017

2017 2016

Revenue:

Grants $ 520,130 $ 520,286

Sales and other revenue:Summer festival 2,792,595 2,960,447Music Store - 157,139Concert series and community programs 533,652 466,530Resource development 787,117 781,794Administration 27,375 34,861Interest on endowment funds 45,915 42,308

4,186,654 4,443,079

4,706,784 4,963,365

Cost of sales 205,868 346,402

Gross profit 4,500,916 4,616,963

Expenses: Summer festival 2,447,463 2,470,136Music Store - 75,087Concert series and community programs 452,676 455,319Resource development 437,971 496,062Administration 1,363,169 1,184,502Other 11,889 12,625

4,713,168 4,693,731

(Deficiency) of revenue over expenses $ (212,252) $ (76,768)

See accompanying note to the summary financial statements.

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THE WINNIPEG CENTENNIAL FOLK FESTIVAL INC.

Summary Statement of Changes in Net Assets

Year ended January 31, 2017

Invested in Internally Total Totalcapital assets restricted Unrestricted 2017 2016

Net assets, beginning of year $ 1,437,824 $ 96,057 $ 671,725 $ 2,205,606 $ 2,282,374

(Deficiency) excess ofrevenue over expenses (194,379) 6,236 (24,109) (212,252) (76,768)

Net investment in capital assets (114,245) - 114,245 - -

Net assets, end of year $ 1,129,200 $ 102,293 $ 761,861 $ 1,993,354 $ 2,205,606

See accompanying note to the summary financial statements.

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THE WINNIPEG CENTENNIAL FOLK FESTIVAL INC.

Note to Summary Financial Statements

Year ended January 31, 2017

1. Basis of presentation

The summary financial statements have been prepared from the audited financial statements of TheWinnipeg Centennial Folk Festival Inc. for the year ended January 31, 2017; the audited financialstatements have been prepared in accordance with Canadian accounting standards for not-for-profitorganizations. The criteria applied in the preparation of the summary financial statements are that thesummary financial statements include the major operating activity totals and subtotals from theaudited financial statements.

The audited financial statements of The Winnipeg Centennial Folk Festival Inc. for the year endedJanuary 31, 2017 and the independent auditor's report thereon are available by contacting theorganization's head office located at 203-211 Bannatyne Avenue, Winnipeg, Manitoba.

203-211 Bannatyne AvenueWinnipeg, Manitoba R3B 3P2T: 204-231-0096F: 204-231-0076info@winnipegfolkfestival.ca WINNIPEGFOLKFESTIVAL.CA

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