Minister Rodriguez Announces an Adjustment to the Endowment Incentives Component of the Canada Cultural Investment Fund Français
The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism, announces an important adjustment to the Endowment Incentives component of the Canada Cultural Investment Fund
MONTRÉAL, Oct. 25, 2018 /CNW/ - The Government of Canada is committed to helping Canada's arts and culture sector grow and contribute to a strong economy. As such, it is taking concrete steps to help arts organizations become more resilient and self-sufficient through the continued support of the private sector.
The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism, today announced an important adjustment to the Endowment Incentives component of the Canada Cultural Investment Fund (CCIF). Effective immediately, the government is eliminating the lifetime maximum of $15 million per eligible arts organization.
To ensure that small and medium organizations still continue to benefit from this program, the program is maintaining the cap of $1 million for organizations that have received $10 million in grants from the component.
This adjustment will encourage more private-sector investment and community support in the arts. It will also help ensure that Canada's largest arts organizations can continue to demonstrate leadership in building private-sector support, while maintaining access to the Fund for small and medium-sized arts organizations.
Quotes
"Through this important adjustment, our government is taking concrete steps to support organizations that not only enrich the cultural life of their community, but also strengthen its economy. This change will continue to help communities be vibrant places to live, while enhancing the quality of life for all Canadians."
—The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism
Quick Facts
The Endowment Incentives Component of the CCIF encourages Canadians across the country to donate to professional arts organizations, creating new sources of revenue and contributing to their sustainable growth.
Since its inception in 2001, the Endowment Incentives component has provided a total of $250 million in matching grants, leveraging private-sector donations of $327 million, for a total of $577 million invested in public charitable foundations and benefitting the long-term financial health of 233 arts organizations across Canada.
Associated Links
Canada Cultural Investment Fund
Endowment Incentives Component
SOURCE Canadian Heritage
(media only), please contact: Simon Ross, Press Secretary, Office of the Minister of Canadian Heritage and Multiculturalism, 819-997-7788; Media Relations, Canadian Heritage, 819-994-9101, 1-866-569-6155, [email protected]
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