Canada Cultural Investment Fund – Endowment Incentives
Grants to Canada Nonprofit Professional Arts
Organizations to Develop Endowment Funds
Organizations to Develop Endowment Funds
Government of Canada - Department of Canadian Heritage
12/01/16 Postmarked or Hand-Delivered
Grants to Canada nonprofit arts organizations to partner with foundations in order to build endowment funds. Applicants are encouraged to contact program staff prior to beginning the application. This program helps arts organizations raise endowment capital through dollar-for-dollar matching funds.
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.
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.
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.
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.
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.
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 Fund 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.
Applicants are encouraged to contact the Department of Canadian Heritage before completing their application.
The application deadline is December 1, 2016. Your application must be postmarked or hand-delivered no later than the published deadline to be considered.
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 / 1-866-811-0055 (toll-free)
TTY: 1-888-997-3123 (toll-free)
Canada: Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Northwest Territories Nova Scotia Nunavut Ontario Prince Edward Island Quebec Saskatchewan Yukon
Libby is constantly in touch with grant program managers and reviews numerous publications to make sure that GrantWatch.com provides subscribers with the most up-to-date grant opportunities.
We have grants for:
Hi, I would love to guide you through the site.
Please feel free to call or write.