The Government of Canada lends its support to professional arts organization Domaine Forget in Saint-Irénée through the Foundation of Greater Montréal
SAINT-IRÉNÉE, QC, Aug. 20, 2019 /CNW/ - The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism, announced today a matching grant of $996,580 to support the professional arts organization Domaine Forget through the Foundation of Greater Montréal. Financial support from the Endowment Incentives component of the Canada Cultural Investment Fund encourages the private sector to play an active role in culture and the arts.
The leveraging effect of this component encourages the private sector to donate to arts organizations, such as Domaine Forget, and maximizes the impact of the government's investment. Annual revenues generated by this endowment fund provide diversified revenue streams that allow professional organizations to fulfil their artistic mission.
Since 2001, the Endowment Incentives component has contributed $269 million to the endowment funds of 247 professional arts organizations in Canada, while the private sector has contributed $358 million, for a total of $627 million.
Today's announcement reflects the Government of Canada's commitment to supporting organizations that enrich cultural life in their communities and help strengthen the economy.
"Overlooking the magnificent St. Lawrence River, Domaine Forget is an internationally renowned institution for the teaching and presentation of the arts. Canadians can be proud to help ensure the long-term financial sustainability of this non-profit professional arts organization, which contributes to a vibrant society, prosperous economy and rich cultural identity."
—The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism
"The Endowment Incentives program promotes the vibrancy of arts organizations and truly helps ensure their viability. We are very pleased to be able to benefit from this matching grant of $996,580, which will support Domaine Forget's current and future activities. Cheers to this program, which strengthens the impact of donations to our community, and is very important to artistic vitality across the country!"
—Louise St-Pierre, Chair of the Board of Domaine Forget
In 2018–2019, the Government of Canada allocated 60.4 cents for every dollar raised through private sector donations under the Endowment Incentives component.
The component had an exceptional year in 2018, both in terms of the number of new applicants and the total amount claimed—the highest since 2001 and proof of this funding method's success.
The Foundation of Greater Montréal (FGM) is a nonprofit charity 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, culture, education and the environment.
The FGM has received $11.8 million in matching funds through the Endowment Incentives component to date. These funds leverage the $16.3 million raised in private-sector donations to benefit the endowment funds of 36 professional arts organizations. As a result, financial support from the federal government and private sector totals $28.1 million.
SOURCE Canadian Heritage
For further information: (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@example.com