On May 8th, 2020, the Prime Minister, along with the Minister of Canadian Heritage, announced details on the new COVID-19 Emergency Support Fund for Cultural, Heritage and Sport Organizations. The fund is intended to complement the Government of Canada’s existing COVID-19 emergency measures by providing additional temporary relief to cultural, heritage and sport organizations facing significant financial losses due to the COVID-19 pandemic.
FACTOR will help disburse this emergency support fund as a third-party administrator of the Individual Initiatives and Collective Initiatives components of the Canada Music Fund. Funds will also be distributed by Musicaction, the Canada Council for the Arts, the Canada Media Fund and Telefilm Canada to support their recipients.
How this funding works:
Eligible Canadian music companies and organizations must be able to demonstrate a projected financial impact of at least 25% over this fiscal year (April 2020 – March 2021). After signing an agreement to declare eligibility and acknowledge the terms of the funding, FACTOR will issue a single payment based on 25% of what the company or organization received from grants in the April 2019 – March 2020 fiscal year. The minimum contribution will be $5,000, there is no maximum. Companies do not need to apply for this funding – they will shortly be contacted by FACTOR directly.
The funding will cover the following eligible expenses:
_ wages and payroll taxes, professional fees and artists’ fees
_ administrative expenses
_ fixed operating costs (rent, electricity, etc.) for up to $10,000
_ contractual and financial obligations related to tours and other cancelled musical events
_ contractual and financial obligations arising from other music-related activities (deposit for studio fees, deposit for rehearsal spaces, etc.)
You may contact communications@factor.ca with any questions.