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Canada Cultural Investment Fund – Endowment Incentives

Grants to Canada Nonprofit Professional Arts
Organizations to Develop Endowment Funds

Agency Type:

Federal

Funding Source:

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Government of Canada - Department of Canadian Heritage

Deadline Date:

12/01/17 Postmarked or Hand-Delivered

Description:

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Grants to Canada nonprofit professional arts organizations to partner with foundations in order to build endowment funds. This program helps ensure stability and grow capacity for arts organizations by raising endowment capital through dollar-for-dollar matching funds.

Endowment Incentives component encourages private donors to contribute to endowment funds for not-for-profit professional arts organizations, so they can access new sources of funding in the future. Raising capital and creating endowments gives these organizations greater capacity for realizing artistic expression by supporting their long-term stability.

Canadians are encouraged to support the arts by providing donations to an arts organization’s endowment fund. The government provides matching funds – of up to one dollar for every dollar raised from private donors – to create endowment funds or to increase existing ones.

Objectives and expected results for the Canada Cultural Investment Fund:

The Canada Cultural Investment Fund (CCIF) encourages private sector investment, partnership and sound business practices to help arts and heritage organizations be better rooted and recognized in their communities.

Ultimately, the CCIF will help to create an environment in which Canadians value and invest in arts organizations.

Objectives and expected results for Endowment Incentives Component:

The Endowment Incentives component encourages private donors to contribute to endowment funds for nonprofit professional arts organizations, so they can access new sources of funding in the future. Canadians are encouraged to support the arts by providing donations to an arts organization’s endowment fund in order to diversify their revenue streams and help them realize their artistic goals. The government provides matching funds – of up to one dollar for every dollar raised from private donors – to create endowment funds or to increase existing ones.

By raising capital and growing endowments, the expected result of the Endowment Incentives component is a community of arts organizations that demonstrate sound organizational and administrative health. This gives these organizations greater capacity for realizing artistic expression, while contributing to a more resilient sector.

Funds Eligible for Matching:

Eligible applicants receive funding from this program to match the funds raised from private donations, up to a maximum of one dollar for each dollar raised.

To be considered for matching funds, donations must come from private sources. These can include non-governmental sources such as gifts from individuals, corporations or non-government foundations.

Funds can also include an amount an arts organization has decided to donate in perpetuity, out of its own assets, to the endowment fund held by its associated foundation.

Only private donations raised and deposited in the 12 months preceding the deadline are eligible to be matched.

Pledges and bequests in probate as well as public funds, from any levels of government, are not eligible for matching.

GrantWatch ID#:

GrantWatch ID#: 176882

Estimated Size of Grant:

The maximum amount of funding that can benefit any one arts organization from the Endowment Incentives component is $15,000,000 over the life of this program.

For each arts organization, the maximum amount that can be requested for matching in each fiscal year is the lesser of:
-$2,000,000; or
-50% of the average total revenues for your organization’s past three completed fiscal years.

However, once an arts organization has benefited from funding totaling $10,000,000, the maximum amount that can be requested for matching in a fiscal year is the lesser of:
-$1,000,000; or
-50% of the average total revenues for your organization’s past three completed fiscal years.

Additional Eligibility Criteria:

Your application must be submitted jointly by a nonprofit professional arts organization and an associated foundation. Each of these two parties must meet the respective eligibility criteria. The foundation becomes the recipient of the matching funds; the nonprofit professional arts organization is the final beneficiary of the income generated from the foundation's investment.

Associate Foundation:

To be eligible for funding, the foundation must be a publicly registered charitable foundation at the time of application, as described in subsection 149.1(1) of the Income Tax Act, whose mandate is to accumulate, administer, and invest capital assets for the purpose of providing part or all the annual income to the beneficiary arts organization.

Beneficiary Arts Organization:

To be eligible, the nonprofit professional arts organization must:

-Be incorporated under the appropriate federal, provincial or territorial legislation; and

-Have as its principal mission (core purpose as outlined in its mission statement): the creation or production of professional artistic works; the presentation of professional artistic works; or the training of professional artists;

-And either receive support from one of the following sources within the last five fiscal years: Canada Council for the Arts; or Department of Canadian Heritage, specifically the Canada Arts Presentation Fund or the Canada Arts Training Fund, or the Fathers of Confederation Building Trust.

-Or, if no financial support has been received from one of the sources listed above within the last five fiscal years, the organization must provide documentation to demonstrate that it operates at a professional level as follows: nonprofit professional arts organization that creates, produces, or presents professional artistic works must: have a paid artistic director or equivalent, and pay artistic fees at established national standards for the artistic discipline(s) and practice in which it operates.

-Nonprofit professional arts organization that provides artistic training must: offer a professional program, operating under an artistic director or equivalent, dedicated to preparing students for professional careers in their artistic discipline; have an admission, selection, and evaluation process (portfolio review, auditions, etc.) for students, and be staffed by qualified artistic and administrative professionals.

Also, the program may consider the achievements and employment status of graduates as an indicator of the professionalism of the training provided by an organization.

In addition, the nonprofit professional arts organization:

-Must have been in operation for a minimum of three years prior to the application; and

-Cannot have a negative net assets ratio in excess of 15% of the total revenues for the fiscal year. The net assets used in the calculation must exclude any externally restricted components. Both figures (net assets and total revenues) to be used in this calculation are based on the financial statements, presented according to the generally accepted accounting principles of Canada.

Heritage organizations, competitions, Federal agencies, Crown corporations, provinces, territories, and municipalities and their agencies are not eligible under this component.

Pre-Application Information:

Applicants are encouraged to contact the Department of Canadian Heritage before completing their application.

The application deadline is December 1.

Your application must be postmarked or hand-delivered no later than the published deadline to be considered.

When an application deadline falls on a Saturday, Sunday or a statutory holiday, it is extended to the following working day.

For application processing time, please refer to the Service standards for Canadian Heritage funding programs:
https://www.canada.ca/en/canadian-heritage/services/funding/service-standards.html

Application Guidelines:
https://www.canada.ca/en/canadian-heritage/services/funding/cultural-investment-fund/endowment-incentives/application-guidelines.html

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Department of Canadian Heritage
Canada Cultural Investment Fund
Endowment Incentives Component
25 Eddy Street, 13th floor, Room 308 (25-13-V)
Gatineau, Quebec K1A 0M5

Phone: 819-997-3955
Toll-Free: 1-866-811-0055
TTY: 1-888-997-3123 (toll-free)
PCH.patrimoinecanadienfcic-canadianheritageccif.PCH@canada.ca

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Geographic Focus:

Canada: Alberta   British Columbia   Manitoba   New Brunswick   Newfoundland and Labrador   Northwest Territories   Nova Scotia   Nunavut   Ontario   Prince Edward Island   Quebec   Saskatchewan   Yukon