Creating a prize or bursary is a good way to allow your capital to grow, directing it towards the discipline of your choice.
You will thus be supporting the arts in a unique way—with your own personal stamp.
Art councils are your allies when it comes to creating a prize or bursary. With their understanding of all aspects of the cultural world and a well-established network, it is easy for them to look after the administrative issues. They sometimes even have award projects already lined up, lacking only a partner.
Whether you’d like to have your name associated with an existing prize or establish a new one, get in touch with the Conseil des arts de Montréal, which already administers various prizes and is open to creating others, or the Canada Council for the Arts, which administers over 200 prizes endowed by individuals, foundations or donations.
1. Decide on the amount you would like to give for an endowment fund, or the annual contributions that you can make towards a fund whose interest would be converted into a prize or bursary.
2. Decide on the artistic discipline you would like to support and perhaps even the goals you would like to achieve with the prize.
The death of a loved one, an inheritance or the creation a family trust are good opportunities to think about establishing a bursary or prize.