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Stratford Festival

Government Boosts Endowment Potential

Stratford Festival logoThe Canadian federal government has raised the cap on its Endowment Incentives Program, offering the Stratford Festival a prime opportunity to raise an additional $10 million for its endowment.

The Festival met its endowment campaign goal of $50 million in 2007, with the federal Endowment Incentives program playing a pivotal role in that achievement.

“Matching grants are compelling motivators for our donors, and we are extremely grateful to the federal government for providing us with this outstanding fundraising tool—and for recognizing the needs of cultural organizations in this way in this year’s budget,” Festival Executive Director Anita Gaffney said in a press release. “Our Endowment Fund sets the foundation for our long-term stability, and the earnings from the fund provide the Festival with a reliable source of income for our annual operating budget.”

Effective April 1, 2013, the government will increase the Festival’s eligible match through the Endowment Incentives program by $5 million. The incentive had previously been capped at $10 million in 2005 and the Festival was able to match those funds thanks to the generosity of its donors. The cap on the matching funds that the Festival is eligible to access is now at $15 million.

The Festival’s Endowment has holdings of $57 million. Earnings from the Endowment help to fund nonrevenue–generating projects, including the following:

Over the past 13 years, the Endowment Fund has contributed an annual payout of about 3.5 percent, for a cumulative total of $17.8 million to operating activities, while still preserving the principal of $57 million.

March 29, 2013

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