#ArtTransforms February 10, 2021

City Of Toronto allocates $540,000 to SKETCH’s capital campaign to buy its studios

By SKETCH Team

For Immediate Release:

SKETCH Working Arts, a Toronto not-for-profit engaging young people living marginalized to experience the transformative power of the arts, will receive $540,000 through Toronto’s Section 37 funding to support the purchase of its 9,000 square-feet of studio space at Artscape Youngplace.

Section 37 of the Planning Act permits the City to authorize increases in permitted height and/or density through the zoning bylaw in return for community benefits in line with Official Plan policies.

Ward 10 City Councillor Joe Cressy sees the funding as a major advancement for young people and arts and culture, “I am thrilled to support SKETCH in securing a permanent home in the Trinity Bellwoods neighbourhood. For SKETCH, purchasing their studio space means they can continue providing meaningful and relevant arts-based programming to young people navigating the margins. Over the past 25 years, SKETCH has used creative expression to bring vibrancy into communities across the city. Securing their home will only strengthen their ability to generate sustainable transformation in the lives of young people – for years to come.”

SKETCH–which celebrates its 25th year in November–is raising $4 million to fund the purchase of its studios in part through $1.52 million in fundraising. The City’s support puts the fundraising goal at 98% achieved.

SKETCH has also been raising another $1.4 million by rallying the public to invest in its own exclusive series of Community Bonds. (A community bond is a publicly-accessible investment opportunity that generates both social and financial returns for the investor). Both the public and organizations have invested in over $938,500 in SKETCH Home Bonds so far.

Particularly popular in this series of four bonds is the “The Giving Bond, Bond A” which offers investors 4% return on a $5,000 investment, with the option to donate the interest back to SKETCH annually. This structure is a Canada first in impact investing.

SKETCH Home Bonds are designed to attract a wide range of investors–from everyday Canadians to large corporations and foundations.

Joel Zola, a former SKETCH participant, says purchasing the studios is crucial for marginalized youth seeking a supportive space to nurture their skills and develop a future through the arts. “Securing space is not just for SKETCH, or SKETCH employees, but for the community. SKETCH is a home for people who respect intersectionality, who respect marginalized voices,” says Zola, “It’s a safe space for people to come to, express their art, and be heard.”

With a March 15th deadline and 67% of the investment goal reached, only $436,500in community bonds is left. With competitive interest rates and low minimums, this is an incredible opportunity for Canadians to earn strong financial returns and secure a legacy space for marginalized youth. Learn more about investing in SKETCH Home Bonds at www.sketch.ca/projecthome/invest.

 

Media: 

Interviews available with artist Joel Zola and SKETCH Executive Director Rudy Ruttimann regarding the bonds and SKETCH’s PROJECT HOME Campaign’s Impact on youth.

Contact Dale Roy, Marketing and Resource Development Associate, at dale@sketch.ca or 416-527-3253.

About SKETCH

SKETCH  engages young people living marginalized to experience the transformative power of the arts. Since 1996, over 19,000 young people have engaged in the arts at SKETCH. Follow SKETCH at @SKETCHToronto or visit www.sketch.ca.

About Project Home

Project Home is SKETCH’s official capital campaign to raise $4 million to purchase its 9,000 square foot studios from Artscape Youngplace through fundraising and community bonds. For more information on our campaign, goals or impact on local youth, please visit www.sketch.ca/projecthome.