CCT: Connecticut Arts Endowment Fund


The Connecticut Arts Endowment Fund (CAEF) was established by the State of Connecticut in 2003 with an initial investment of $1 million.  The Fund is managed by the Connecticut Office of the State Treasurer and the program is administered by the Connecticut Office of the Arts. 

The interest earned on the Fund's principal is distributed annually to eligible Connecticut arts organizations.  CAEF grants are unrestricted.  Grantees may apply the grant funds toward programming, administrative/operational costs, capital projects, equipment or to build their own endowments, etc.
 
ELIGIBILITY
An applicant must be a Connecticut arts organization that has raised more than $15,000 in private-sector contributions (non-governmental sources) for two (2) consecutive fiscal years.

An arts organization is defined as an organization, with tax-exempt status under section 501(c)(3) of the Internal Revenue Code, whose core mission, vision, focus and legal purpose, as stated in its Articles of Incorporation and bylaws, articulate a commitment to create, perform, present or promote artistic activities* AND at least 51 percent of its annual fiscal expenditures is allocated specifically to support artistic activities, arts programming, services or arts-based initiatives.

*Artistic activities include, but are not limited to, music, theater, dance, painting, sculpture, literature, films, and allied arts and crafts.

 

ADDTIONAL CRITERA

An arts organization must be incorporated in Connecticut with 501(c)(3) tax-exempt status for at least two (2) years prior to the application due date.

 

FUNDING
Grant awards are calculated solely on a formula which compares the amount of private-sector contributions received by the applicant in its two (2) most recently completed fiscal years.

The formula is designed to reward organizations that have experienced an increase in the amount of private-sector contributions during the "most recent fiscal year".

Year 1 "Prior Fiscal Year":
For the portion of contributions which exceeds $15,000, there shall be a match of 25% of such amount, capped at $250,000.

Year 2 "Most Recent Fiscal Year":  For the portion of contributions which exceeds the total contributions for the prior fiscal year, there shall be a match of 100%, capped at $1 million.

If in any fiscal year the total amount of matching grants to be paid exceed the investment earnings of the Arts Endowment Fund, all grants shall be reduced on a pro rata basis.

REQUIRED DOCUMENTS
Applicants are required to submit the organization's tax returns to substantiate reported contributions.  The organization must use Form 990 or Form 990EZ.  Form 990-N (e-postcard) is NOT acceptable. 
The organization's IRS forms MUST BE FILED with the Internal Revenue Service before the application deadline of December 15th. 


FY19 FUNDING PERIOD
April 15, 2019 - October 15, 2019


APPLICATION DEADLINE:
on or before 11:59 pm on December 15, 2018

HOW TO APPLY:

Applications are submitted through an on-line portal.  Applicants complete an application and upload the organization's IRS Forms 990 or IRS Form 990 E-Z.  The FY19 Endowment application will become available in Fall 2018.

 

QUESTIONS:
For more information or questions, please contact Rhonda F. Olisky via email at rhonda.olisky@ct.gov.

 

 

Fiscal Year Interest Earned on CAEF Principal Number of Applicants
18
$773,539
133
17
$397,354
114
16
$385,301
130
15
$446,607
117
14 $500,064 110
13 $620,700 107
12 $670,530 101
11 $767,183 102
10 $852,200 95




Content Last Modified on 5/10/2018 10:02:29 AM