Anne E. Bertrand, Chairperson of the NBFA, Announces Art Bond Schedules

May 5th, 2010

Anne E. Bertrand, Chair of the New Brunswick Foundation for the Arts (NBFA), was at the Delta Fredericton today to preside over a new media event that took place across the province in celebration of arts and culture in New Brunswick. The NBFA, joined by hundreds of volunteers in communities across the province, demonstrated the true spirit of how the Art Bond fundraising initiative can help to build and support the growth of New Brunswick's artistic and cultural life.

"The Art Bond Project holds out the promise of an even more vibrant and prosperous province where all New Brunswickers can partner in financing the long term support and stability of arts and culture in our communities" says Ms. Bertrand.

"The NBFA is eager to form new partnerships and for immediate benefits from bond holders' commitment to the arts to begin. To this end, I am proud to announce that, one-fifth ($250,000) of the money raised through the Art Bond Project's first year will be spent right away" she adds. "Unlike fundraising initiatives well-known for laudable saving for the future, the Art Bond Fund promotes near-future return on the investments which will be used for programs."

Through this new fund raising initiative, NBFA proposes to sell 5,000 Art Bonds of $250 each in the first year of the Art Bond Project, thus accumulating $1,250,000. The NBFA intends to disburse $250,000 towards programs in ten regions of the province equally, while investing one million of the total funds raised in an endowment fund to continue benefiting future generations.

"The Art Bond Project proves to be "outside the norm" with its bold and innovative approach to endowment fundraising, but it has as its aim three goals" says Ms. Bertrand. "Firstly, it encourages people who might feel a small contribution can never really "make much of a difference" to stand shoulder-to-shoulder with other citizens to actively and equally participate in the raising of 1.25 million dollars.

Secondly, the Art Bond can encourage donations from those who feel endowment funds mean long waiting periods and accrued-interests-only spending policies to donate knowing that a sizeable portion of their donation will be spent in the very same year of fundraising.

Lastly, for active donors who might only contribute to local or very regional artistic endeavours (i.e. not province-wide initiatives), the Art Bond's equal distribution of funds allows them to directly and immediately see their contribution dollars at work within their communities, as well as the rest of the province.

The Art Bond Project is a province-wide initiative aimed at rewarding all New Brunswickers who are motivated to take personal responsibility to improve the quality of life in New Brunswick by supporting the arts and culture. The NBFA has chosen to use the 10 federal electoral districts, consisting of a unique mix of rural and urban regions, population density, and size for the purposes of distributing the year one disbursement of $250,000 in a fair and just manner. This approach to funding arts and culture has not been attempted before.

Registered not-for-profit organizations in New Brunswick involved in arts and culture who could qualify for the $250,000 funding include: galleries, theatres, fine arts schools, festivals, choirs, music festivals, arts councils, performing arts groups, arts centres, tour companies, and other interested parties such as municipalities.

The NBFA intends to continue the Art Bond Project for the next four years with the ambitious goal of selling 5,000 Art Bonds per year, thereby raising a total of five million dollars over five years.

Each and every New Brunswickers can benefit from this support of the artistic and cultural life in New Brunswick. Purchasing an Art Bond allows individuals to make a significant investment in the arts while receiving an immediate tax break for a fully deductible charitable donation. And, by participating in the Art Bond Project, donors will enable the NBFA to make a yearly distribution of $250,000 fairly and equitably distributed in equal sums of $25,000 to each of 10 equally populated regions of New Brunswick via an accountable and transparent disbursement process. Through the NBFA, an important endowment fund of $1M per year will be secured to make future monies available to the arts and culture of our province. Above all, these funds will be used solely for New Brunswickers who make their living in arts and culture thus securing jobs, improving the economic health of our province, and contributing to the overall beautification and improvement of all communities in New Brunswick.

With a province boasting 750,000 of the finest and most generous people in Canada, thousands of successful businesses, reputable banking institutions, leading groups, private foundations, philanthropists, all levels of governments, challenging each other to make the Art Bond a success, the Art Bond Project can lead the way to making New Brunswick one of the most outstanding cultural centres of Canada.

The NBFA was created in 1992 to foster and promote New Brunswick's cultural and artistic life.

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Contact: Denise Violette, General Manager, 506-460-6600