Victoria Foundation halts grants
Market meltdown means money will stop flowing to arts, cultural groups
Sandra McCulloch, Times Colonist
Published: Saturday, November 01, 2008The venerable Victoria Foundation has fallen victim to turbulent financial markets and announced yesterday that until the economic situation improves it will not hand out funds.
Chuck Burkett, chairman of the foundation board, said no grants have been given out since the end of August, when the markets began their plunge.
Last year, the Victoria Foundation bestowed $7 million in grants to more than 300 individuals and groups involved in charitable activities.
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