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More than 400 Mécénat Musica individuals and families create ~$50 million for 35 cultural organizations
Mécénat Musica wants to keep culture healthy … in perpetuity
Mécénat Musica Results March 31, 2020
Mécénat Musica is a cultural program created by donors for donors. Mécénat Musica encourages individuals to make an in-perpetuity donation of $25,000 to a cultural organization that is important to them, and encourages philanthropic families to match these individuals’ donations with donations of $250,000 or $2,500,000.
THIS IS A MAJOR SHIFT IN CULTURAL PHILANTHROPY, UNIQUE IN THE WORLD
400+ donations from individuals and families have participated, with results as follows:
- 408 donations of $25,000 from Individuals, plus
10 donations of $250,000 from Families, plus
3 donations of $2,500,000 from Families, for a total of
- $20,200,000 donations from individuals and families, generating a total of
- ~$50,000,000 when including government matching (which arrives later), generating
$2,000,000 in annual revenue (4.0%A) …in perpetuity, totaling
- ~$100,000,000 over the next 25 years (capital and investment incomeA)
Objective: $100 million for culture
35 cultural organizations, to date including
- 4,000+ artists annually (via the 35 orgs)
- Music, theatre, dance, museum, festivals …
- Montreal, Charlevoix, Lanaudière, Montérégie, Laval, Capitale-Nationale …
Open to all admissible organizations in all regions
Profile of Mécénat Musica donors of $25,000 each
- 103 board members of cultural organisations, 21 artistic directors
- 21 members of the Order of Canada, 17 members of l’Ordre National du Québec
- 43 families where 2 to 6 family members each donated $25,000
- 53 retirees, 53 entrepreneurs/business, 34 musicians, 33 investment managers,
27 accountants, 21 lawyers, 27 health, 17 engineers, 15 professors/teachers, etc.
- 51 x $25,000 from individuals outside of Quebec (five provinces & US) = $1,275,000
- Age groups: 20s, 30s, 40s, 50s, 60s, 70s, 80s
- Several individuals donated $25,000 to 5 – 7 organizations – one per year
- Donors with net incomes as low as $50,000
An individual’s net cost of a $25,000 cash donation after personal tax credits is $6,750B (or $5,425B)and is due, with other credits, to an additional Revenue Quebec tax credit for one large cultural donation, which can only be claimed by the individual once in his or her lifetime, until December 31, 2022. Also, the net cost to an individual of a $25,000 donation of public company shares (with large non-realized gains) can be as low as $7,521C and can be done by the donor multiple times.
Watch video Mécénat Musica in Perpetuity 2020 .
This page is also available in / Cette page est également disponible en:
Francais (French)
