6. Application requirements

The foundation and the not-for-profit professional arts organization must complete their respective forms and together submit all required documentation, including their respective application checklist.

Checklists for both the foundation and the not-for-profit professional arts organization can be found in Annex IV.

6.1 The associated foundation must submit:

Note: If you have already submitted an application to this component, it is not necessary to resubmit the documents listed in items 1, 2 and 3 unless there have been changes. In item 7, you may submit only the most recent audited financial statements.

  1. Foundation's letters patent, status of incorporation, mandate and by-laws
  2. Statement describing the foundation's policy on conflict of interest
  3. A copy of the foundation's investment policies. Such policies shall specify the basis on which funds will be invested and income remitted to the organization
  4. General Application for Funding Form completed and signed by an authorized person (Chair, Executive Director/General Manager) (Annex I)
  5. Resolution of the Board of Directors to sign the Certification to authenticate the collection and deposit of private donations to the Foundation
  6. Completed Certification with original signatures (Annex III)
  7. Audited financial statements for the last three (3) completed cycles, including the management letter, prepared by an independent chartered accountant and signed by two members of the Board of Directors
  8. Application Requirements Checklist for the associated foundation (Annex IV)

6.2 The not-for-profit professional arts organization must submit:

  1. Organization's letters patent, status of incorporation, mandate and by-laws
  2. Statement describing the organization's policy on conflict of interest
  3. General Application for Funding Form completed and signed by an authorized person (Chair, Executive Director/General Manager) (Annex I)
  4. Resolution of the Board of Directors to sign and thereby comply with the requirements of the Governance Practices Disclosure Statement
  5. Governance Practices Disclosure Statement with original signatures (Annex II)
  6. Resolution of the Board of Directors to the Arts Organization to sign the Certification to authenticate the collection and deposit of private donations to the foundation held in perpetuity
  7. Completed Certification with original signatures (Annex III)
  8. Organizational chart for the organization with the names and roles of key administrators as well as a list of members of the Board of Directors.
  9. Annual budget for the organization's current year's operations
  10. Description, in a maximum of three (3) pages (8 ½ x 11 with a minimum font size of 12), of how the organization demonstrates a commitment to best practices in management and organizational development specifically in the areas of human resources, finance, board governance, and succession planning
  11. Most recent comprehensive strategic plan (or business plan in the absence of a strategic plan), as well as an annual update outlining any important variances to the plan or events that have had a significant impact on the development of the organization
  12. Financial statements for the last three (3) completed cycles, including the management letter, prepared by an independent chartered accountant and signed by two members of the Board of Directors. Requests for $50,000 or more must include audited financial statements, while requests for less than $50,000 must include at least a review engagement report.

    If the organization has been in a deficit position for the past 2 (or more) years, a written analysis of what has led to the deficit position as well as what plans have been put in place to improve the financial health of the organization. If this has been addressed in the strategic plan, please indicate the page numbers.
  13. Five-year budget forecast consistent with the Governance Practices Disclosure Statement as well as a written analysis (maximum of one (1) page, 8 1/2 x 11 with a minimum font size of 12) based on the following questions:
    1. What assumptions have been made when constructing the budgets (for example what, if any, % increase/decrease has been applied to expenses and revenues and how was that percentage determined)?
    2. Have the financial implications of the strategic plan been considered into the future budgets? Please explain.
  14. Application Requirements Checklist for the not-for-profit professional arts organization (Annex IV)

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