Ontario Arts Foundation Makes Special $1.0 million Distribution to Arts Organizations Facing COVID-19 Challenges
Toronto - May 26, 2020 - The Ontario Arts Foundation is pleased to confirm that it has made a special distribution of $1.0 million to over 200 arts organizations across the Province of Ontario from funds established under the Arts Endowment Fund program.
“We recognize the extraordinary stresses arts organizations are facing in the current COVID-19 environment, where performances, festivals and arts programs have had to be cancelled or deferred during the balance of 2020,” says Anthony Graham, Chair of the Board. “Our history of strong long-term investment performance, and a focus on the preservation and growth of endowment capital, created the ability of the Foundation to make this special distribution, while maintaining our longer-term goal of providing arts organizations with a stable source of unrestricted operating revenue.”
Disbursing additional income now affords arts organizations additional financial capacity to maintain staff, artists and plan for the future. “We see this as a vote of confidence in the creativity and skill of arts managers to weather the current challenges,” says Alan Walker, Executive Director. “We see arts organizations thinking differently and positively on how to engage with their supporters, local communities and continue to deliver world class arts and culture to the people of Ontario and visitors to our Province.”
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Established in 1991, the Ontario Arts Foundation (OAF) is passionately committed to building long-term support for the arts in Ontario. In 2018-2019, the OAF paid over $4.35 million in endowment income and $315,000 in awards and scholarships.
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