Arts Endowment Fund Program

The Arts Endowment Fund (AEF) Program was a program of the Government of Ontario through the Ministry of Culture administered by the Ontario Arts Foundation.  The Ontario Arts Foundation is a public, non-government foundation established in 1991 to encourage and facilitate private giving to the arts in Ontario.

The Government of Ontario announced the $25 million Arts Endowment Fund in the May 1998 budget.  Following the great success of Phase I of the AEF Program, the government announced a $25 million enhancement in the May 2000 budget for Phase II and a further enhancement of $10 million for Phase III in the March 2007 budget.  Phase III ended on December 31, 2008.

Under the terms of the AEF Program - Phase III, money raised by eligible arts organizations for endowment from the private sector was matched “dollar for dollar” on a “first come, first served” basis, up to a predetermined maximum, and invested in perpetuity.  The board of the Ontario Arts Foundation is responsible for the investment of the funds.  Organizations receive income from the endowments established under the AEF Program to be used for their ongoing operations.  As of March 31, 2008, $27 million in income had been paid out to organizations from the funds established under the Program.