{"id":36462,"date":"2023-10-24T14:35:46","date_gmt":"2023-10-24T18:35:46","guid":{"rendered":"https:\/\/fgmtl.org\/?p=36462"},"modified":"2023-10-24T14:47:20","modified_gmt":"2023-10-24T18:47:20","slug":"mecenat-musica-four-innovative-approaches-to-support-the-future-of-arts-and-culture-in-quebec","status":"publish","type":"post","link":"https:\/\/fgmtl.org\/copieprod\/en\/news\/press-releases-news\/mecenat-musica-four-innovative-approaches-to-support-the-future-of-arts-and-culture-in-quebec\/","title":{"rendered":"M\u00e9c\u00e9nat Musica: four innovative approaches to support the future of arts and culture in Quebec"},"content":{"rendered":"

The Foundation of Greater Montr\u00e9al is proud to support the\u00a0M\u00e9c\u00e9nat Musica\u00a0program for cultural philanthropy<\/a>, through the management of a share of its matching funds. We are glad to share this announcement.<\/em><\/p>\n

M\u00e9c\u00e9nat\u00a0Musica is a unique cultural program created by donors for donors, that facilitates four funding mechanisms to create in-perpetuity capital for the future of arts and culture in Quebec. This is a major shift in cultural philanthropy:<\/p>\n

    \n
  1. M\u00e9c\u00e9nat Musica <\/em>Condos for Culture<\/em>\u00a9<\/em><\/a> encourages donors to donate their condos, houses, chalets, or other personal use real estate hassle-free for in-perpetuity funds of cultural organizations important to the donor. The donor does not have to deal with the preparation and sale of the property prior to the donation. The donor simply donates the property and moves out, taking whatever furnishings desired, leaving behind whatever furnishings and repairs that the donor does not wish to deal with. The donor receives an official tax receipt for the fair market value at the time of the transfer of the donated property.<\/li>\n
  2. M\u00e9c\u00e9nat\u00a0Musica<\/em> Donation of Public Company Shares<\/em> <\/a>encourages individuals to make a $25,000 donation of public company shares (with large non-realized gains), of which the net cost can be as low as $7,521 and can be done by the donor multiple times. A donation of $250,000 of public company shares by Quebec resident corporations & shareholders, can have a net cost as low as $24,600.<\/li>\n
  3. M\u00e9c\u00e9nat\u00a0Musica<\/em> RRSP \/ RRIF encourages donors to donate funds not needed for their retirement from their RRSP or RRIF to in-perpetuity funds of cultural organizations important to the donor. The amount withdrawn from the RRSP or RRIF is fully taxable and is offset by applicable federal and provincial donation tax credits.<\/li>\n
  4. M\u00e9c\u00e9nat\u00a0Musica<\/em> Cultural Donation Tax Credit<\/em><\/a> encourages individuals to make an in-perpetuity cash donation of $25,000 to a cultural organization that is important to them. An individual\u2019s net cost of a $25,000 cash donation after personal tax credits is $6,750 (or $5,425) and is due, with other credits, to an additional Revenue Quebec tax credit for one large cultural donation, which can only be claimed by the individual once in his or her lifetime. Watch video M\u00e9c\u00e9nat\u00a0Musica in Perpetuity<\/a>.<\/li>\n<\/ol>\n

    M\u00e9c\u00e9nat\u00a0Musica is a unique cultural program created by donors for donors. It makes a sustainable contribution to the health of all by supporting music and culture. The program has created $92,000,000 of in-perpetuity capital for 50 Qu\u00e9bec cultural organizations with large donations from more than 600 M\u00e9c\u00e9nat Musica individuals and families<\/a>\u00a0with funds administered by three partner community foundations: the Foundation of Greater Montreal, the Jewish Community Foundation of Montreal and Fondation Qu\u00e9bec Philanthrope.<\/p>\n

    M\u00e9c\u00e9nat Musica has launched several health, culture and community initiatives since March 2020 including 5NextGen, <\/em>Prix HEC Artistes<\/em>, Mini-Concerts Sant\u00e9 (Prix Opus \u00c9v\u00e9nement musical de l\u2019ann\u00e9e 2020), Mini-Op\u00e9ras Sant\u00e9, Mini-Galas, Poterie Op\u00e9ra, ArtChoral <\/em>and Prix 3 Femmes<\/em> dedicated to developing new contemporary operas by emerging female and non-binary Canadian creators.<\/p>\n","protected":false},"excerpt":{"rendered":"

    M\u00e9c\u00e9nat\u00a0Musica is a unique cultural program created by donors for donors, that facilitates four funding mechanisms to create in-perpetuity capital for the future of arts and culture in Quebec.<\/p>\n","protected":false},"author":6,"featured_media":82,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42,48],"tags":[],"class_list":["post-36462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-press-releases-news"],"yoast_head":"\nM\u00e9c\u00e9nat Musica: four innovative approaches to support the future of arts and culture in Quebec - Fondation du Grand Montr\u00e9al<\/title>\n<meta name=\"description\" content=\"M\u00e9c\u00e9nat\u00a0Musica facilitates four funding mechanisms to create in-perpetuity capital for the future of arts and culture in Quebec.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, 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