Mandate of the Ontario Arts Foundation
The Ontario Arts Foundation was incorporated in 1991 as a not for profit corporation in Ontario and is a registered charity (89085 6370 RR0001).
The foundation has three areas of interest for funding the arts in Ontario:
Board of Directors
The Ontario Arts Foundation is governed by a Board comprised of 12 independent directors. Directors are appointed annually, for a three year period, with the potential for extension for a second three year period. The Board meets four times a year and is responsible for the foundation’s strategic plans, programs, budgets, policies and investment management of all endowment funds.
The Board identifies business risk issues associated with the Foundation’s mandate, activities and external environment. Appropriate policies and processes to mitigate all risk issues are in place and are reviewed by the Board at least annually. Members of the Board of Directors are required to disclose any conflicts of interest on an ongoing basis. The foundation financial results are audited by external auditors. Our fiscal year end is March 31st. Audited Financial Statement (PDF)
The Board of Directors as a whole acts as the Investment Committee, which is responsible for: