As I write these words, the Victoria Foundation is awaiting notice about matching funds for local professional arts organizations through the Endowment Incentives program of the Canada Cultural Investment Fund, created by the Department of Canadian Heritage. That’s a long description – let’s call it the Program!
The Program provides matching funds, up to one dollar for every dollar raised, to create new endowment funds or enhance existing ones at the Victoria Foundation.
We partner with up to 11 arts organizations and apply for the matching grant for any gifts received in the preceding 12 to 24 months (depending on if an application was made in the prior year).
Gifts of all sizes can be made to arts organizations, or directly to the Victoria Foundation, with all gifts added to the organizations’ endowed funds. Matching funds have ranged from 50 per cent to 100 per cent of each dollar raised. All gifts are held in perpetuity, with the annual grant from a fund as a continuing source of support.
Investing in the next generation of artists
This powerfully increases investment in the arts community while helping establish long-term sustainability for the organizations involved, regardless of economic fluctuations.
This investment helps to create a vibrant, caring community for all by employing, teaching and engaging thousands of people of all ages.
Opportunities to enjoy arts and cultural activities add to our sense of wellbeing and belonging. They give joy to our lives and increase our understanding and experience of new or different art forms and cultures.
This investment supports emerging artists at the Victoria Conservatory of Music or the Canadian College of Performing Arts, seasoned performers on stage for the Belfry Theatre, Pacific Opera Victoria and the Victoria Symphony.
It also supports local dancers performing with Ballet Victoria or international artists by invitation from Dance Victoria, smaller ensembles with Early Music Society of the Islands or on stage at ArtSpring on Salt Spring Island, or artists exploring new dimensions at Open Space or the Victoria Film Festival.
Giving through Hosted Organization Funds
The funds held for the benefit of the arts organizations are known as Hosted Organization Funds. Giving to a hosted organization fund is one option for those who want to support their chosen charity.
Rather than creating a donor designated fund that supports that charity, donors can add to the capital of the existing fund to boost the long-term capacity for the charity’s mission.
Many donors have chosen to support their chosen causes in this way, now or through their estate plan. We are grateful to share the story and passion of two such donors, Janis Dunning, C.M., and Jacques Lemay, C.M., who are leaving a gift in their Wills to the Victoria Foundation to support scholarships at the Canadian College of Performing Arts.
As founders of this “triple threat” artistic training program, Janis and Jacques know first-hand how important this support is. The annual grants from the Canadian College of Performing Arts Fund will ensure their legacy continues for generations of aspiring artists.
To find out more about the federal matching program or support for hosted organization funds, please contact our Philanthropic Services team.