Endowments are a meaningful way for donors to create a legacy of support for programs at The Royal Conservatory. When a donor establishes an endowed fund, the donation is invested and provides income to support a named scholarship, program or other operating activity of the donor’s choosing. The named endowment creates a lasting tribute to the person or organization being recognized.
To ensure the annual distribution generated by the endowment will provide an appropriate stream of income for the scholarship or program it funds, the minimum gift to name an endowment at The Royal Conservatory is $50,000.
Governance and Management
Endowments for the benefit of The Royal Conservatory of Music are held within Royal Conservatory of Music Foundation, which was established for this sole purpose.
The Foundation’s Board of Directors has established a process of governance over endowments.
The Board appoints an Investment Committee comprised of members of the board with expertise in investment management. The Investment Committee recommends to the Board for its approval an investment policy, distribution policy and conflict of interest policy. The Investment Committee appoints external investment managers, as appropriate, and monitors the performance of those managers against industry recognized benchmarks.
Management, including the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer are charged with fiduciary responsibilities for duty of care, conflict of interest and duty of mission which inter alia requires the development and operation of controls and procedures to ensure that the distributions from endowments are applied in conformity with the donors’ directions.
The Foundation’s financial statements are examined annually by external auditors.
Establishing an Endowment
For more information, please contact our Development Office at [email protected] or 416.408.2824 x457.