The Calgary Philharmonic Orchestra Foundation is a separate and independently governed organization overseeing the endowment fund created to support the long-term operations of the Calgary Philharmonic Orchestra. Funds received by the Foundation are held in perpetuity and may be eligible for a matching grant from the Canada Cultural Investment Fund, a program of the Federal Government’s Department of Canadian Heritage.
A portion of the return earned on the endowment fund is contributed annually to the Calgary Philharmonic. The Foundation has become the Calgary Philharmonic’s largest annual funder. It operates independently and at arms-length from the Calgary Philharmonic, with the fund’s administration overseen by a Board of Trustees.
The fund is now one of the largest endowments held by a Canadian orchestra. It has grown from less than $1 million as of June 2000 to over $43 million as of June 2021 thanks to: (1) very generous donor gifts over the years; (2) matching government grants, including from the Canada Cultural Investment Fund (from which over $11 million has been received to date); and (3) strong investment returns.
The Calgary Philharmonic Orchestra Foundation is a not-for-profit organization formed under the Societies Act of Alberta and is a registered charity under the Income Tax Act.