Media Statement: Banff Centre response to the Government of Canada's adjustment to the Endowment Incentives program
Statement from Janice Price, President and CEO of Banff Centre for Arts and Creativity, in response to the Government of Canada’s recent adjustment to the Endowment Incentives component of the Canada Cultural Investment Fund (CCIF).
The Endowment Incentives component of the CCIF encourages Canadians to donate to professional arts organizations, creating new sources of revenue and contributing to their sustainable growth. Effective immediately, the government is eliminating the lifetime maximum of $15 million per eligible arts organization.
“Banff Centre for Arts and Creativity is sincerely appreciative of the Government of Canada’s decision to remove the funding cap on the Endowment Incentives program. The Canada Cultural Investment Fund – Endowment Incentives helps arts organizations foster a climate of increased philanthropy by encouraging more private sector investment and community support in the arts. The opportunity to leverage donations through the Government of Canada’s Endowment Incentives program has been highly successful in motivating donors to generously support Banff Centre. It is an invaluable outlet for donors and the institution alike. The strong sustainable funding cultivated through our endowments is the backbone to Banff Centre’s ability to provide exceptional educational programming to emerging artists and community. The impact of endowments is felt by program participants at Banff Centre every single day through scholarships and supporting faculty, fellowships, master artists, and programming costs. Thank you to The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Multiculturalism, and the Government of Canada for their continued commitment to Canada’s arts and culture sector.”