Management of Endowment Funds

The board of directors of the NBFA establishes, builds and manages endowment funds for the arts. Its investment objective for the endowment funds is to ensure a steady stream of income from the funds, the preservation of capital, and growth of capital over time. Funds are tracked separately, but are pooled for investment purposes. Individual funds are listed in the NBFA’s annual audited financial statements.

The board of the NBFA will manage the pooled endowment funds up to the $5,000,000 mark after which it will hire independent investment managers. Funds established by donors are currently invested in Guaranteed Income Certificates.

As a way of supporting the arts, the NBFA charges a low administration fee. Our current policy states that the combined administration and investment fee shall not exceed 1% of the market value of a fund.

Endowment Funds Actually Managed by the NBFA

• Festival Frye Festival Endowment Fund
• Gallery Connexion Endowment Fund
• Musical Ventures Inc. Endowment Fund
• New Brunswick Filmmakers’ Cooperative Ltd. Endowment Fund

Third Party Donations

Individuals or organizations other than the donor may make donations to a specific endowment fund and are eligible to receive a Tax Receipt for their donations. Only donors may make suitable grant recommendations.