Personal Philanthropy

Would you like to offer an award or scholarship to support an artistic endeavor that is important to you or a loved one?

If you find it most rewarding to support individual accomplishments in a particular art form, you may want to consider establishing a fund to offer awards and scholarships. These can be structured to support artists at various stages along their career path: 

1. Students or emerging artists: scholarships might be set up to create educational or training opportunities

2. Mid-career artists: awards might allow a mid-career artist to focus on a project or new initiative

3. Artists who have reached full stature: awards might acknowledge a lifetime of achievements  

 

"Louis was a generous artist who did much to further the professional careers of young singers through his many years of teaching and master classes.  I am proud to now be able to extend his personal generosity to pianists and composers as well." 
– Christina Quilico, established the Christina and Louis Quilico Award  

 

Did you know? 

Because arts awards are not considered a form of taxable income under Canada’s Income Tax Act, 100% of your award is available to the recipient.

We would be delighted to help you structure a fund to offer awards and scholarships. We recommend that you give some thought to the following as you build a roadmap for expressing your support for the arts in this way:

 

Reflect on the history of your past support and involvement of the arts or individual artists (or that of a family member, if you are considering a memorial fund) 

 

Decide what you would like to accomplish and put it in writing in the form of a mission statement or other expression of your philanthropic objectives. In this process, consider:

• What specific form would you like your support to take and how will this reflect your values? Do you want to recognize lifetime achievements, help young artists in their studies, recognize emerging talent through an award, etc.?

• Brainstorm to find some creative approaches to solving the funding challenges faced by artists.These will vary according to which phase of an artist’s career you decide to support, whether emerging or accomplished, for example.

 

What are the financial considerations?
• Would you like to establish an endowment fund or a fixed term fund?
• Over what time horizon do you want the fund to operate: one to five years, 10+ years, perpetual?
• What amount do you need to fund in order to create the award /scholarship amount you are considering?
• How will you give: tax planned, legacy/bequest, annual, staged funding?

 

How involved would you or your family like to be in the awards/ scholarship process and what might that involvement look like? 

 

How would you build flexibility into the arrangements you are making? For example, what will happen if circumstances change and how would you like the fund to reflect that change (i.e., in terms of goals, format, amounts)?

 

The role of the Ontario Arts Foundation
• Administration
• Jury selection/adjudication:  we can help facilitate jury selection
• Fund management
• Issue tax receipts/manage memorial donations

 

Defining success: We can help you establish some metrics for determining a successful outcome for the fund you establish.

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