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janvier 2025

Creativity Meets Community: Reimagining funding for the arts

Par Éducation

The arts sector in Canada is at a turning point. Skyrocketing rents, rising operating costs, and shifting funding landscapes are putting pressure on arts organizations, venues, and festivals. But this moment of uncertainty also presents an opportunity — a chance to rethink how the arts are funded and supported. 

Arts organizations have an opportunity to take control of their futures. By embracing innovative models like community bonds, organizations can secure their spaces, access values-aligned financing, and strengthen community connections – ensuring creativity thrives for years to come.

By the numbers: the arts are at risk

theatre

Calgary’s The GRAND Theatre. Source: LiveWire Calgary

It’s clear that traditional funding models aren’t always enough. That’s where community bonds come in. 

What are community bonds?

Community bonds are a social finance tool that allows fans, artists, and supporters to invest in the cultural spaces they care about. Investors earn a modest return, while organizations secure stable funding. It’s a win-win for both the organization and the community. 

Organizations like RadStorm (Halifax) and Hugh’s Room Live (Toronto) are already using this model successfully. 

It’s important to note that community bonds aren’t the right fit for every organization. They work best for organizations with revenue models that can support loan repayment. While grants and other funding sources remain essential, for those that can manage debt, community bonds provide a strong alternative. 

theatre performance

Theatre performance. Source: Now Toronto

3 reasons why arts & cultural hubs should consider community bonds 

🔒 Long-term stability and financial independence 

Arts organizations often rely on short-term leases and unpredictable funding, making them vulnerable to displacement. And while government funding isn’t disappearing, it is shifting. Community bonds offer a way for organizations to take control of their financial future by raising capital directly from their supporters. Instead of waiting on grant cycles or sponsorship deals, organizations can mobilize their audience as investors. 

Community bonds can be used to purchase buildings, secure long-term leases, or fund major renovations, ensuring cultural spaces remain a permanent fixture in their communities. Plus, since investors are passionate supporters, organizations can work with them to set terms that better align with their needs, ensuring flexible and sustainable financing. 

🙌 Values-aligned financing  

Unlike corporate sponsorships, which may influence artistic direction, community bonds keep decision-making in the hands of the people who love these spaces most. 

Arts & cultural hubs thrive on collaboration, shared ownership, and community – all principles that make community bonds a natural fit. Plus, community bonds ensure funding stays within the local economy rather than flowing to external investors. 

👪 Strengthened community connections 

Community bonds turn audience members, fans, and local supporters into investors and long-term ambassadors. Through targeted outreach and investor consultations, organizations can:

  • Engage new and existing supporters in a deeper, more meaningful way 
  • Foster a shared sense of ownership, reinforcing that arts spaces truly do belong to everyone 
  • Cultivate long-term ambassadors who actively promote events and programming

And the demand is there: Canadians planned to spend $1,377 on arts & cultural events in 2024, an increase from previous years. Community bonds let supporters invest in the spaces they love, going beyond just ticket purchases or one-time donations. 

It’s time to rethink how we fund the arts 

Community bonds offer arts and cultural organizations a sustainable, community-driven way to secure their future. By harnessing the power of their supporters, organizations can gain long-term stability, access values-aligned financing, and strengthen community connections. 

This is our chance to redefine how we support the arts. 

Want to learn more about how community bonds can work for your arts organization? Read more here, or connect with our team.

Yetunde Osanyin joins Tapestry as Compliance Officer

Par Nouvelles

Tapestry is excited to welcome Yetunde Osanyin to the team! Yetunde joins as a Compliance Officer. She will work on implementing compliance systems and establishing policies and procedures to strengthen Tapestry’s compliance function.  

headshot

Yetunde comes to Tapestry with over a decade experience in both social finance and traditional finance, most recently as a manager of social impact funds that invested in social enterprises at different maturity levels and across sectors. 

Before this, Yetunde spent several years in corporate finance at a multinational non-bank financial institution. During this time, she was introduced to the world of social finance, as her organization played a pivotal role in financing several impactful projects.

“That was where I had my first experience on how you can use capital to drive social development. It was interesting to see how we raised capital, and invested in social infrastructures that elevated the quality of life while generating returns for investors. It was a win-win for everyone”  

Yetunde is excited to now focus on building the compliance systems to strengthen the use of  community bond models across Canada. With ample experience across the social capital world, Yetunde sees the community bond as “an efficient way to raise capital.” She also emphasizes its community-informed nature: “It’s different from other products, because when you’re dealing with bigger investors, bigger ticket transactions, you’re dealing with millions of investment at once from one investor. But at the community level, you’re responsible for the retail investors, people who are really committed to this project, because they feel something beyond the financial return, they feel a connection.”

When she’s not working on the future of Canadian finance, Yetunde spends most of her time with her family. She loves to cook, read, and to talk to others about what she’s reading — she’s part of several book clubs! 

We hope you’ll have a chance to meet Yetunde soon. If you’d like to reach out (or ask for a book recommendation!), you can reach her at yetunde@tapestrycapital.ca

Welcome to the team, Yetunde! 

Tapestry welcomes Jasleen Bahia as Marketing and Communications Associate

Par Nouvelles

We’re excited to announce that Jasleen Bahia is (re)joining the Tapestry team as Marketing and Communications Associate! 

This is a new role for Jasleen, but she’s not new to Tapestry. She’s worked on several projects with us while earning her degree in Commerce at the University of

 British Columbia’s Sauder School of Business — starting with a summer associate position after cold-emailing Tapestry to introduce herself and share her passion for social finance. While she studied for a semester in England, Jasleen researched the community finance sector in the U.K. and lessons for the Canadian space, and in the summer of 2023, Jasleen researched legislative and regulatory frameworks for community bonds in Canada. 

In between, Jasleen worked in public policy, in roles with the Canada Mortgage and Housing Corporation (CMHC) and a nonprofit think tank. She also explored work in traditional finance, but found her heart was in ethical and sustainable finance. 

“It’s important to me to feel a sense of purpose and that I’m making an impact. I’ve always found that here,” Jasleen says. “In a way it feels like coming home — it’s a full circle moment now being with Tapestry full time. And it’s even more special to be able to come back and see all the growth that’s happened in the last year, and to be part of communicating that growth.” 

Bringing experience in social media and podcasting, Jasleen is looking forward to the creativity a marketing and communications role offers. “That type of work doesn’t feel like work to me, it’s so fun. I get to talk to people, have incredible conversations, and then be creative about how I present the information.” 

In her free time, Jasleen volunteers with a nonprofit supporting girls growing up in Vancouver’s Downtown Eastside. Having participated in the program while she was in high school, Jasleen describes another “full circle moment” in being able to volunteer and support the next generation. Jasleen also facilitates youth programs at a Vancouver community centre, plays basketball, and loves to bake and read.

We’re thrilled to have Jasleen back on the team. If you’d like to get in touch, you can reach her at jasleen@tapestrycapital.ca. Welcome to the team, Jasleen! 

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