{"id":42700,"date":"2024-05-14T12:17:20","date_gmt":"2024-05-14T16:17:20","guid":{"rendered":"https:\/\/fgmtl.org\/?page_id=42700"},"modified":"2024-05-17T13:53:14","modified_gmt":"2024-05-17T17:53:14","slug":"faq-for-cultural-organizations","status":"publish","type":"page","link":"https:\/\/fgmtl.org\/copieprod\/en\/contribute\/matching-programs\/faq-for-cultural-organizations\/","title":{"rendered":"FAQ for cultural organizations"},"content":{"rendered":"

To support the arts and promote cultural philanthropy in our community, FGM is a partner in matching programs that encourage donations in those fields. Registered cultural organizations can create a fund at FGM and request funding from these programs, for example, grants matching the fruits of their fundraising efforts. The revenues generated by the investment of these government or private contributions, coupled with the organizations\u2019 own endowments, help to sustain and develop their activities.<\/p>\n

In order to demystify the way these programs work, here are the questions most frequently asked to FGM regarding matching programs for cultural organizations.<\/p>\n

\n
<\/span>When will our organization receive the annual distribution from its fund?<\/div>
For an endowment or an in-perpetuity fund, you will receive each year the information about the amount to be distributed. This information is also available through Access Funds<\/a>. Payments are made around the second week of April.<\/div><\/div>\n
<\/span>Can our organization receive more than the annual distribution calculated by FGM?<\/div>
In the case of an in-perpetuity fund, an organization can request an additional amount, on the condition that the balance of its income fund be at least 6% of the value of its capital fund, as of December 31 of the previous year.<\/p>\n

In the case of a fund with a 10-year term (or longer), the organization can request a matured (expired) block of capital, as well as the undistributed income generated by that capital. To do so, you must submit a withdrawal resolution<\/a> to FGM.<\/div><\/div>\n

<\/span>Who must make the request for matching funds?<\/div>
Under the M\u00e9c\u00e9nat Placements Culture<\/a> program, each organization is responsible for its own matching application. The amount for which a matching grant is requested must be deposited at FGM before the end of the organization’s financial year, and the application must be made through the Diapason<\/a> web portal no later than November 30th.<\/p>\n

In the case of the Canadian Heritage<\/a> program, the application process is a joint one. As soon as the updated forms are made available by the government, FGM will fill out its part. Then, it will send the application form to the requesting organization so it can fill out theirs. The organization then has to send the application back to FGM for its signature, after which the form can no longer be modified or updated.<\/p>\n

The organization then has to submit the application form, along with all other requested documents, to Canadian Heritage no later than December 1st.<\/p>\n

Please note that only the amounts raised and deposited in the 24 months preceding December 1st of the current year are eligible to a matching grant.<\/div><\/div>\n

<\/span>What is the deadline to send a resolution to FGM, either for a distribution or a withdrawal? <\/div>
In the case of managed funds, so for a withdrawal, and in that of endowment funds, so for a distribution, the deadline is the 20th of each month, in order to receive the requested amount around the second week of the following month.<\/div><\/div>\n
<\/span>How can we know the amounts that have matured (expired) in our organization's funds?<\/div>
To learn of those amounts or for any other question, please contact FGM’s team by email at appariement@fgmtl.org<\/a>.<\/div><\/div>\n<\/div>\n