The California Venue Grant Program was designed to support eligible independent live event venues impacted by COVID-19.
Here are some key points about the program:
- Grant Award: Grants awarded under this program are based on the lesser of two amounts:
$250,000 or
20% of the applicant’s gross earned income in California for the 2019 tax year. - Income Exclusion: California law allows an exclusion from gross income for grant awards received through the California Headquarters Grant Program. However, since federal law does not have the same exclusion, adjustments may need to be made on your California state tax return to avoid taxes on this grant money.
- Tax Filing: If you received a grant under this program in 2023, you must report it on your upcoming 2023 tax returns. You can retrieve your 1099 tax form from here to help you file your taxes.
Remember to consult your own tax advisor for personalized guidance.
Grant Allocations Received Pursuant to The California Venues Grant Program
The California Venue Grant Program was established to support eligible independent live event venues and other cultural institutions that experienced significant revenue losses due to COVID-19. The grant allocations were intended to help these venues recover and sustain their operations during the pandemic. Below are some key details about the grant awards received under this program:
Eligibility and Application
- Eligible applicants included live event venues, theaters, museums and other cultural institutions.
- Applicants were required to demonstrate a reduction of at least 25% in income due to the COVID-19 pandemic.
- Applications were reviewed based on financial need and extent of income loss.
Grant amounts
- Grant amounts varied depending on venue size, operating expenses and documented revenue losses.
- Maximum grant amounts could be up to $250,000, but smaller amounts were also awarded depending on site-specific circumstances.
Use of funds
The allocated grant funds could be used for a variety of purposes, including payroll expenses, rent or mortgage payments, utility bills, insurance costs, and other operating expenses essential to the sustainability of the location.
Reporting and accountability
- Recipients were required to report how funds were used to ensure the intended purpose of the grant was met.
- Regular updates and financial statements were often required to verify that funds were being used appropriately.
Impact on communities
The grants aimed to preserve cultural and entertainment centers within communities, supporting not only the venues themselves but also the broader local economies that depend on these institutions.
Summary
The California Venue Grant Program was a lifeline for many venues that struggled during the pandemic, helping them stay afloat and continue providing cultural and entertainment services to the public.