In 2016 the Stampede continued to respond to the changing environment while protecting the financial health of the organization. We took on the extra challenge in 2016 to ensure our expenses were aligned with our expected revenue. We worked hard to reduce costs in order to address the anticipated decline in revenue. The end result: a bottom line community investment of more than $2 million in both 2015 and 2016 respectively. This allows us to provide the best support for our community programs, facilities and activities.
Here are some financial and community investment facts:
- As a not-for-profit organization, our goal is to manage our finances in a way that ensures we can deliver the great experiences our community expects.
- Yes we had a $12 million reduction to our revenue between 2015 and 2016, but we were very proactive about reducing expenses through both our annual budgets and throughout the past two years since the start of the economic downturn.
- We expanded our programming and community events with the opening of ENMAX Park in 2016.
- We continue to actively work with the Calgary Stampede Foundation on the development of Youth Campus.
- Our ongoing capital budget is higher than it has been over the last couple of years and we are undertaking additional renovations on Stampede Park to make this an even better place for our community.
As a 105-year-old organization steeped in history and tradition we have survived because of our ability to change and adapt. “We continue to be out in our community listening and reacting to what they have to say,” says Warren Connell, Calgary Stampede CEO. “We are looking at how to engage the community and set up programs that appeal to everyone. We have a number of new exciting initiatives planned for the community in 2017 and we look forward to sharing these plans starting this afternoon with an exciting announcement about the Parade.”
The Stampede is a reflection of our community and we work hard to meet and exceed expectations. If you’re interested, we invite you to read our detailed financial statements and learn more about how we give back to the community in our annual Report to the Community.