Summary of key changes made to the Endowment Incentives component of the Canada Cultural Investment Fund (CCIF) in 2024-2025

1. Reduction to the maximum annual requested amounts for matching per arts organization

Aligned with the 2023 federal budget’s plan to bring government spending back to a pre-pandemic path, federal institutions, including Canadian Heritage, were tasked with identifying savings through various measures, including reductions in internal spending and a thorough review of programs and operations. As part of this Refocusing Government Spending exercise, reductions to the annual budget of the Endowment Incentives component begin in 2024-2025.

In order to minimize the impact of the reduction on the matching ratio, the program’s annual maximum amounts that can be requested for matching per arts organization have been reduced. Starting in 2024-2025, an eligible arts organization can request the lesser of 50% of the average total operating revenues of the organization's past three completed fiscal years or:

• $1,500,000 for arts organizations whose endowment fund were granted less than $10,000,000 from the component.
• $500,000 for arts organizations whose endowment fund were granted between $10,000,000 and $18,000,000 from the component.
• $250,000 for arts organization whose endowment fund were granted more than $18,000,000 from the component.

2. Clarification - Types of registered charities (designations)

To be eligible to apply, both the foundation and the arts organization must be registered charities with specific designations as per the Income Tax Act:

• The foundation must be designated as a public foundation by the Canada Revenue Agency.
• The arts organization must be designated as a charitable organization by the Canada Revenue Agency.
• The designation as a private foundation by the Canada Revenue Agency renders the foundation/arts organization ineligible to apply to the component.

3. The requirement for the arts organization to submit the most recent strategic plan or business plan as a supporting document has been eliminated.

4. The financial health definition included in the Glossary has been updated to include the results of Statistic Canada 2022 Performance Arts Survey.

We invite you to consult the component’s Guidelines and the Application Form for additional details and funding conditions.