The Banff Centre Foundation
The Banff Centre Foundation’s mandate is to manage the investment of Banff Centre’s endowed funds in an accountable, transparent and fiscally prudent way. The Board is guided by the Golden Rule of Endowment Management, which states that endowment spending should be equal to or less than the total return minus inflation, and that the preservation of the real value of endowment capital is a primary endowment fund management policy.
Relationship to Banff Centre's Board of Governors
The Board of Governors of Banff Centre has the ultimate responsibility for the funds and has delegated responsibility for the overall management of the funds to the Board of Directors of The Banff Centre Foundation.
How are funds distributed?
The annual cash distribution to be released to Banff Centre will be determined in the course of Banff Centre’s annual budget development cycle and will not normally be re-determined during the fiscal year. Such cash distribution will take into account Banff Centre’s needs, the performance of the funds, the Golden Rule of Endowment Management, and the minimum disbursement quota as defined in the Income Tax Act.
Banff Centre Foundation financial statements are published yearly and since 2017 have been incorporated into the Banff Centre for Arts and Creativity Annual Report.
Banff Centre’s Endowment Management Guidelines provide direction for all Endowment funds held and restricted for the benefit of The Banff Centre, including those held by The Banff Centre Foundation and the Banff Canmore Community Foundation.