Canada Invests $1.2 million in Jewish Community Foundation of Montréal to Support City Arts Organizations

first_imgCanada Invests $1.2 million in Jewish Community Foundation of Montréal to Support City Arts Organizations From: Canadian HeritageThe Government of Canada supports four professional arts organizations through the Jewish Community Foundation of MontréalArts and culture help communities flourish. Our government believes it is essential to continue supporting the Canadian cultural community, which is facing huge challenges amid the COVID-19 pandemic.Anthony Housefather, Parliamentary Secretary to the Minister of Labour, and Member of Parliament (Mount Royal), announced today a matching grant worth more than $1.2 million for the Jewish Community Foundation of Montréal to support four professional arts organizations: Ensemble Caprice ($177,149), Voix éternelles/Vox Aeterna ($18,242), Orchestre Métropolitain ($381,977) and the Segal Centre for Performing Arts ($664,309). He made the announcement on behalf of the Honourable Steven Guilbeault, Minister of Canadian Heritage.The matching funds, from the Endowment Incentives component of the Canada Cultural Investment Fund, aims to encourage Canadians to contribute to endowment funds for professional arts organizations so they can:· Access new sources of funding in the future;· Strengthen their ability to realize their artistic expression; and;· Help make the arts community more resilient.Annual revenues generated by this endowment fund provide diversified revenue streams that allow professional organizations to fulfil their artistic mission by using the income for ongoing activities or special projects.Today’s announcement is an example of the Government of Canada’s concrete measures to support the arts.Encouragingly, nearly 130 organizations applied to the Endowment Incentives component of the Canada Cultural Investment Fund this year. The particularly high overall demand demonstrates that private donors continue to support professional arts organizations across the country.Quotes“Our government is proud to support local professional arts organizations through the Jewish Community Foundation of Montréal. Ensemble Caprice, Voix éternelles/Vox Aeterna, Orchestre Métropolitain and the Segal Centre for Performing Arts have a special connection with audiences as they showcase our homegrown arts. They also enrich the cultural life of the community and help strengthen the economy.”– The Honourable Steven Guilbeault, Minister of Canadian Heritage“I am thrilled that the Government of Canada is continuing to support four outstanding professional arts organizations that serve the residents of the Mount Royal riding and across the Montreal region. These organizations and the entire cultural community have had a difficult year but will soon come roaring back full steam and this funding will assist them to do so.”– Anthony Housefather, Parliamentary Secretary to the Minister of Labour, and Member of Parliament (Mount Royal)“We are grateful to our donors and the Government of Canada, who together are helping build endowment funds in support of arts and culture in Quebec. These funds enable organizations to become more sustainable, thus allowing for rich artistic programming in perpetuity. We are proud to steward these funds and promote philanthropy.”– Kathy Rachel Assayag, Executive Director, Jewish Community Foundation of MontréalQuick factsIn 2020‒2021, the Government of Canada granted 66.4 cents for every dollar raised through private sector donations under the Endowment Incentives component.Applications to the Endowment Incentives component must be submitted jointly by a non-profit professional arts organization and an associated foundation. The matching funds combined with the equivalent amount from private donors are secured as part of the foundation’s assets in perpetuity. The foundation is the recipient of the matching funds, and the arts organization is the ultimate beneficiary of the income generated by the investment.Since its inception in 2001, the Endowment Incentives component has provided $307 million in matching funds, leveraging $416 million from the private sector. This represents a total of $723 million invested in 101 public charitable foundations to improve the long-term financial health of 276 Canadian professional arts organizations.To date, the Jewish Community Foundation of Montréal has received $15.5 million in matching funds through the Endowment Incentives component, leveraging $20 million in private sector donations raised for the endowment fund supporting the five professional arts organizations. These organizations have received a total of $35.5 million from the Government of Canada and the private sector.The Jewish Community Foundation of Montréal is a charitable organization dedicated to the well-being of the Greater Montréal community. It creates and carefully manages permanent endowment funds and distributes the revenues to support community projects in various sectors including health, social services, arts and culture, education and the environment. /Public Release. 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