Owen Sound – The Community Foundation of Grey Bruce in partnership with Georgian Bay Folk Society is thrilled to announce that its application to the Federal Government's Endowment Incentive Program was successful. Heritage Canada has contributed $37,000 in matched funding to the Summerfolk Endowment Fund held by Georgian Bay Folk Society.

"The Georgian Bay Folk Society is pleased to have the opportunity to grow its endowment through the Department of Canadian Heritage's Cultural Investment Fund via an application submitted by Community Foundation Grey Bruce. This three-way partnership will ensure that this community remains a vibrant hub for music and the performing arts through the annual Summerfolk Music & Crafts Festival and its additional roster of year-round arts presentations" says GBFS President, Phil Bye.

"I was excited to discover that this matched funding initiative could benefit a number of Grey Bruce performing arts organizations through this dollar-to-dollar Federal matching up to 20 million dollars. The Georgian Bay Folk Society is the first arts presenter to have pursued this funding incentive, which has come at a pivotal time when GBFS is proactively planning for their future. We are thrilled for their success and look forward to working with other regional arts presenters to take maximum advantage of this matching program. When you consider that our Foundation's own matched fund initiative can also be utilized to create or grow funds, the potential impact for local arts presenters is massive" said Foundation Executive director Aly Boltman.

Georgian Bay Folk Society's Summerfolk Endowment Committee, led by Don Miller and Les Weirmier, has been working diligently over the past year to seek pledges and donations from Summerfolk supporters. Its initial objective was to build a base of $100,000 in the endowed fund. The recent matched contribution from Canadian Heritage has allowed the Society to reach this initial goal, and inspire them to grow an even larger fund. The annual distributions of revenue through this growing endowment will be used by the organization where it is most needed and contribute to its long term sustainability.

Community Foundation Grey Bruce, a public charity, generates long-term sustainable resources through donation for the creation or growth of endowed funds. The earned revenue from the pooled, invested funds is granted to qualified not-for-profit organizations throughout Grey Bruce, supporting the widest range of organizations and initiatives possible through community giving.

For more information about Community Foundation Grey Bruce, Georgian Bay Folk Society's Summerfolk Endowed fund or the Endowment Incentive Program offered by Heritage Canada, please contact the Foundation.
Source: Media Release