Our endowment fund was established because a very supportive donor wanted to provide a gift that would have a lasting effect. This was the catalyst to a dialogue with the Winnipeg Foundation and the beginning of our endowment with their agency. The Winnipeg Foundation has been an amazing support system ever since and is truly dedicated to all of the agencies for whom they hold endowments. They have recently revamped their information centre to showcase the organizations and you can now see our profile, upcoming events and photos on the endowment donor page – Sarasvati Productions Endowmen Fund .
We encourage you to check the new donor page out, especially at this time. November 30th marks the deadline for a wonderful matching program funded through the Department of Canadian Heritage. All donations made by that date will be eligible for matching funds. So, if you are thinking of making a gift this would be a great time. Although the capital remains invested so that the fund is never depleted, the annual payout from investment income provides us with monies to support our annual programming. This year that will include supporting our world premiere of EDEN and our annual festival of plays by women for everyone, FemFest.
Sarasvàti Productions presents a valuable opportunity to support both cultural and social initiatives. We offer the combined reward of contributing to artistic achievement while working on behalf of current social and community issues. This also means that we can’t rely as heavily on box office revenue, due to our desire to make work accessible to the communities with whom we work. It is important to us to make sure that even those with limited disposable income have access to the arts and our work. For example at this year’s FemFest, we were able to offer complimentary tickets to residents from halfway houses to our powerful production of Magpie which deals with issues of rehabilitation of a parolee. The men who attended had never been to live theatre before and found it to be a very positive experience and sparked important discussions afterwards.
What is an endowment fund?
An endowment fund is where gifts are pooled and permanently invested as capital and only the income earned is used for charitable purposes.
Why contribute to Sarasvàti Productions’ endowment fund?
An endowment creates a stable form of future income. A donation to the endowment fund assures the legacy of the donor is respected in perpetuity. There are matching programs available from both the Winnipeg Foundation and the federal government with the intention of encouraging private donors to contribute and provide future funding to charities. A donors gift may be doubled and provide a new source of future funding to the company. Supporting Sarasvàti Productions’ endowment fund will allow us greater capacity to realize our artistic goals.
The Winnipeg Foundation
The Winnipeg Foundation was established in 1921 as Canada’s first community foundation. The Foundation’s policy is to position itself as a partner with other charitable organizations and agencies throughout the City of Winnipeg and the Province of Manitoba. Where a charitable agency wishes to incorporate a long-term investment into its financial plan the Foundation’s governing policies permit the creation by the charitable agency of an Agency Fund with the Foundation. The capital contributed by the particular agency is invested as part of the Foundation’s consolidated trust fund, a fund which is maintained and managed on behalf of the Foundation by professional investment managers. The capital amount contributed by the charitable agency becomes a permanent endowment fund owned by the Foundation where the annual income benefits the charitable agency and is utilized at the discretion of the charitable agency.