Macdonald Stewart Art Centre
- Arts Endowment Fund Program
What
is an Endowment Fund?
An
endowment is an investment fund set aside for the long-term support of an
organization.
Only
the income, or a portion of the income from such a fund, is made available to
spend. The principal is preserved in perpetuity, that is, it is held forever.
All funds are held in the organization’s name.
The invested money is protected, allowing it to grow.
The
Arts Endowment Fund is a program of the Government of Ontario through the
Ministry of Citizenship, Culture and Recreation administered by the Ontario Arts
Council Foundation.
The
Macdonald Stewart Art Centre is participating and through endowment giving
donors can contribute to the arts in a meaningful and lasting way.
Under the program, money raised by the Centre will be matched dollar for
dollar. A separate endowment fund
will be established and maintained at the Ontario Arts Council Foundation. Each
year the Art Centre will receive income from their own endowment funds to be
used for operating purposes.
As
a participant in the Arts Endowment Program, raised funds are matched by the
Foundation.
The first challenge year ran from October 1, 2000 to December 31,
2001. The next two challenge
years ran from January 1, 2002 to December 31, 2002, and January 1,
2003 to December 31, 2003. In
order to be matched, money must be raised for endowment purposes within the
challenge year in which matching funds are claimed.
The Art Centre has the option of retaining up to 66% of the money raised for endowment purposes, to be used for operating cost; the full amount, however, will be matched by the Foundation. The matching money is available on a “first come first serve” basis.
Upon
completion of the campaign, the
Macdonald Stewart Art Centre’s Endowment Fund
ensure the security of ongoing, incoming revenue.
These funds will help the Centre to continue to be an important
educational and cultural resource and to continue to provide excellent
programming and events. Contributing your tax receiptable gift to the program can be
done through your annual membership, private donation, or in person at the
Centre’s information desk. Your
donation will automatically be matched and will ensure a strong future for the
Macdonald Stewart Art Centre.
Information
about the Foundation and the Arts Endowment Fund Program can be linked directly
at www.gov.on.ca/mczcr/english/culdiv/arts/aef.htm
.
If you would like to make a donation to the Macdonald Stewart Art Centre’s Arts Endowment Fund or would like more information about how you can give, please contact:
Macdonald Stewart Art Centre
358
Gordon Street, Guelph ON N1G 1Y1
Tel: (519) 837-0010 / Fax: (519) 767-2661 / E-mail: jnasby@msac.ca