{"id":2218,"date":"2022-02-05T07:41:07","date_gmt":"2022-02-05T07:41:07","guid":{"rendered":"https:\/\/oafdn.ca\/?page_id=2218"},"modified":"2022-06-28T00:32:43","modified_gmt":"2022-06-28T00:32:43","slug":"personal-philanthropy","status":"publish","type":"page","link":"https:\/\/oafdn.ca\/fr\/who-we-are\/personal-philanthropy\/","title":{"rendered":"M\u00e9c\u00e9nat Individuel"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"PERSONAL\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Personal Philanthropy<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Have you worked out a strategy and structured approach for your personal philanthropy that will allow you to make a difference that is meaningful to you and the artistic projects you want to support? Do you want to leave an enduring legacy for yourself or someone you love?
\u00a0<\/em><\/span><\/p>

Private money has been a mainstay of arts funding in Ontario. This support often comes in the form short-term infusions of cash for immediate use, but many thoughtful individuals are shifting towards longer term, more sustainable approaches that build a more financially secure future. These approaches reflect personal philanthropic values and a desire to build an enduring personal legacy in the arts.<\/p>

Our values and objectives align with yours, as our mandate is to build a stronger arts community through fostering long-term financial solutions that serve both philanthropists and the causes they support. We are dedicated to working with you and your professional advisors to achieve your philanthropic objectives with a customized solution that may involve several components: for example, long-term funding through a combination of income and capital payouts; bequests; private grants; awards and scholarships.<\/p>

Our slim organizational structure allows us to respond nimbly and cost-effectively to your needs and, as a non-profit organization, our primary focus is not asset gathering, so we have no conflicting agendas. Through our seasoned board of directors, staff and leading investment managers, we offer the resources you need to make informed decisions about your personal philanthropy and how it should be structured, financially and legally.<\/p>

Along with our technical knowledge and expertise, we have a deep knowledge and understanding of the arts world that is constantly updated through our wide network of contacts. We may be able to guide you in some broad decision-making, such as selecting artistic projects or arts organizations to support with your philanthropy. If you need assistance with more specific tasks, such as building short lists of candidates for awards and prizes or setting up juries for the adjudication process, we can often be of help through our long association with the Ontario Arts Council. In certain situations, it may be appropriate to approach their sector experts on your behalf.<\/p>

We\u2019re here to serve you. Please call us to set up an appointment to talk about your various options.
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There are other sources of philanthropic services.<\/span>\u00a0<\/span>Why work with us?<\/span>
<\/span>Quote from Bruce Bennett, Executive Director of the Ontario Arts Foundation<\/span><\/span><\/span><\/h1>
\u201c<\/span>For those that have determined that they are committed to a longer-term philanthropic strategy, there are many different options and levels of complexity. The Ontario Arts Foundation provides one set of options that are aligned with those interested in supporting the arts. These options also allow for flexibility in long term involvement of the donor and very little administration is necessary.\u00a0<\/span>\u201d<\/span><\/span><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWould you like to offer an award or scholarship to support an artistic endeavour that is important to you or a loved one?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

If you find it most rewarding to support individual\naccomplishments in a particular art form, you may want to consider establishing\na fund to offer awards and scholarships. These can be structured to support\nartists at various stages along their career path: <\/span><\/o:p><\/span><\/p>

1. Students or\nemerging artists: scholarships might be set up to create educational or\ntraining opportunities<\/span><\/span><\/o:p><\/span><\/p>

2. Mid-career artists:\nawards might allow a mid-career artist to focus on a project or new initiative<\/span><\/span><\/o:p><\/span><\/p>

3. Artists who have\nreached full stature: awards might acknowledge a lifetime of achievements  <\/span><\/span><\/o:p><\/span><\/p>

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“Louis\nwas a generous artist who did much to further the professional careers of young\nsingers through his many years of teaching and master classes.  I am proud\nto now be able to extend his personal generosity to pianists and composers as\nwell.” <\/span><\/em>
\n<\/span><\/span>\u2013 Christina Quilico, established the\nChristina and Louis Quilico Award<\/span><\/span><\/span><\/span> <\/span><\/span> <\/span><\/span><\/o:p><\/span><\/p>

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Did you know?<\/span><\/span><\/span> <\/span><\/span><\/o:p><\/span><\/p>

Because arts awards are not\nconsidered a form of taxable income under Canada\u2019s Income Tax Act, 100% of your\naward is available to the recipient.<\/span><\/span><\/o:p><\/span><\/p>

We would be delighted to help\nyou structure a fund to offer awards and scholarships. We recommend that you\ngive some thought to the following as you build a roadmap for expressing your\nsupport for the arts in this way:<\/span><\/span><\/o:p><\/span><\/p>

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Reflect on the history of\nyour past support and involvement of the arts or individual artists (or that of\na family member, if you are considering a memorial fund) <\/span><\/span><\/o:p><\/span><\/p>

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Decide what you would like to\naccomplish and put it in writing in the form of a mission statement or other\nexpression of your philanthropic objectives. In this process, consider:<\/span><\/span><\/o:p><\/span><\/p>

\u2022\nWhat specific form would you like your support to take and how will this\nreflect your values? Do you want to recognize lifetime achievements, help young\nartists in their studies, recognize emerging talent through an award, etc.?<\/span><\/span><\/em><\/o:p><\/span><\/p>

\u2022 Brainstorm to find some creative approaches to solving the\nfunding challenges faced by artists.These will vary according to which phase of\nan artist\u2019s career you decide to support, whether emerging or accomplished, for\nexample.<\/span><\/span><\/em><\/span><\/o:p><\/span><\/p>

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What are the financial\nconsiderations?
\n<\/span>\u2022 Would you like to establish\nan endowment fund or a fixed term fund?<\/span><\/em>
\n\u2022\nOver what time horizon do you want the fund to operate: one to five years, 10+\nyears, perpetual?<\/em>
\n\u2022\nWhat amount do you need to fund in order to create the award \/scholarship\namount you are considering?<\/em>
\n\u2022\nHow will you give: tax planned, legacy\/bequest, annual, staged funding?<\/em><\/span><\/i><\/span><\/o:p><\/span><\/p>

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How involved would you or\nyour family like to be in the awards\/ scholarship process and what might that\ninvolvement look like? <\/span><\/span><\/o:p><\/span><\/p>

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How would you build\nflexibility into the arrangements you are making? For example, what will happen\nif circumstances change and how would you like the fund to reflect that change\n(i.e., in terms of goals, format, amounts)?<\/span><\/span><\/o:p><\/span><\/p>

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The role of the Ontario Arts\nFoundation
\n<\/span>\u2022 Administration<\/span><\/em>
\n\u2022\nJury selection\/adjudication:  we can help facilitate jury selection<\/em>
\n\u2022\nFund management<\/em>
\n\u2022\nIssue tax receipts\/manage memorial donations<\/em><\/span><\/i><\/span><\/o:p><\/span><\/p>

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Defining success: We can help\nyou establish some metrics for determining a successful outcome for the fund\nyou establish.<\/span><\/span><\/o:p><\/span><\/p>

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n<\/p>


<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat\u2019s required for me or my family to establish a long-term fund?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

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First, let\u2019s talk about what\u2019s not involved!\u00a0 Long-term funds are often set up by\u00a0private foundations, which can be complicated, time-consuming\u00a0and involves the following activities:\u00a0<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Incorporating a private foundation<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Securing registered charity status<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Selecting and engaging an investment manager<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Developing and implementing a plan for the work of the private
foundation<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Conducting the day to day management of the foundation<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Preparing the Annual Canada Revenue Agency filing (T3010 \u2013 A)<\/span><\/p>

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Making arrangements for succession planning to ensure that
philanthropic goals are achieved in the next generation<\/span><\/p>

By contrast, establishing a fund at the\u00a0<\/span>Ontario Arts Foundation\u00a0<\/span><\/b>is an attractive and economic alternative. The process is straightforward and uncomplicated.<\/span><\/p>