Canadian Heritage confirms annual matching support of SNB Foundation
Symphony New Brunswick Foundation Inc. announces a grant of $240,682 from the Government of Canada.
This matching grant from Canadian Heritage’s Canada Cultural Investment Fund – Endowment Incentives Component is awarded annually matched against private sector donations received by the Foundation during the previous year. Grants from this program are a powerful incentive for arts organizations to develop broadly-based financial support from private sources in the communities they serve. Both the private donations and the government grant are held in the Foundation’s permanent endowment fund with income earned on these funds being contributed annually to Symphony New Brunswick’s operations.
“As Minister for Canadian Heritage, I’m proud to contribute $240,682 in funding to Symphony New Brunswick Foundation through the Endowment Incentive component of the Canada Cultural Investment Fund. Throughout the global pandemic, music has brought joy to Canadians and we are delighted to support this cultural initiative which brings light in this time of darkness.” says The Honourable Steven Guilbeault, Minister of Canadian Heritage.
The income earned from the endowment fund now represents approximately 25% of the funds needed annually to sustain the Symphony’s operations. Continued growth in the endowment fund is essential to underpin growth and future development of the Symphony.
“We have once again received this very generous contribution from the Department of Canadian Heritage,” says Reid Parker, President of both Symphony New Brunswick Foundation Inc. and Symphony New Brunswick Inc. “This is especially important to us at this time when every arts organization has been so severely affected by the Covid-19 pandemic. Symphony New Brunswick has been able to maintain operations in the second half of 2020 and this year in large measure due to the certainty of funding from Symphony New Brunswick Foundation as well as the other pandemic relief measures, such as the Canada Emergency Wage Subsidy Program, implemented by the federal government. These sources of funding have enabled the Symphony to avoid lay-offs and continue producing music for the benefit of New Brunswickers. This grant represents another step forward in ensuring our sustainability and growth in these very uncertain times and we are very grateful for the support of Minister Guilbeault and Canadian Heritage’s hard-working and dedicated staff.”
Wayne Long, Member of Parliament, Saint John-Rothesay announced the funding on April 1st on behalf of Canadian Heritage. MP Long is a dedicated supporter of the arts and key supporter of this initiative. “The arts and culture sector continues to flourish in Saint John-Rothesay and New Brunswick. Investments like this ensure that our city and residents will continue to have access to high quality performances and productions in our community.”