Calculating Grants
Each year we distribute interest earned on the fund's principal to eligible arts organizations. This means that organizations apply for a grant, but not a specific amount. The award amounts are based on how much money you have already raised and are calculated solely on a formula set by Connecticut State Statutes. The formula is:
- Most recent fiscal year (Year 2): For the portion of the total donor contributions that exceed the total donor contributions for the prior fiscal year, there shall be a match of 100%, capped at $1 million.
- Prior fiscal year (Year 1): For the portion of donor contributions which is equal to $15,000 or more but does not exceed the total donor contributions for the prior fiscal year, there shall be a match of 25% of such amount, capped at $250,000.
The total amount of grants to be paid exceeds the investment earnings of the Arts Endowment Fund, therefore, all grants are proportionally reduced.
For FY25, we needed $28+ million in investment earnings to fully fund applicants per the formula, however, we had $879,014. Therefore, all grants were proportionally reduced.