The Calgary Philharmonic Foundation is an endowment fund created to support the long-term operations of the Calgary Philharmonic Society (Calgary Philharmonic). Funds received by the Foundation, comprised of donations and government grants, are held in perpetuity. Donations made to the Foundation by 30 November each year are 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 Calgary Philharmonic Foundation has become the Calgary Philharmonic’s largest annual funder, contributing over $3.8MM in the year ended 30 June 2019. The Foundation operates independently and at arms-length from the Calgary Philharmonic. The fund’s administration is overseen by the Trustees of the Calgary Philharmonic Foundation, who in their sole discretion, determine the amount contributed to the orchestra each year.
The fund is now one of the largest endowments held by a Canadian orchestra. It has grown from less than $1MM at 30 June 2000 to over $36.3MM as at 30 June 2019 thanks to: (1) very generous donor gifts over the years; (2) matching government grants, including from the Canada Cultural Investment Fund (from which over $10MM has been received to date); and (3) investment returns.
The Calgary Philharmonic Foundation is a not-for-profit organization formed under the Societies Act of Alberta and is a registered charity under the Income Tax Act.
For more information on how to support the Calgary Philharmonic Society and the Calgary Philharmonic Foundation, please contact: