The SOCAN Foundation, founded in 1992, is dedicated to fostering musical creativity and promoting a better understanding of the role of music creators in today's society. The Foundation is an independent organization guided by its own board of directors. The board, which consists of composers, songwriters and music publishers, reflects concert music and popular music genres as well as the geographic and linguistic regions of Canada. The Foundation is closely aligned to the interests of the members of SOCAN: composers, lyricists, songwriters and publishers of musical works. The SOCAN Foundation's programs, funded in part by income from an endowment, offer support for publications, educational initiatives, composer residencies, distribution of concert music recordings to broadcasters outside Canada, international showcasing, classical music concert series, music industry associations, and folk and jazz festivals. In addition, the Foundation mounts two competitions. Funding is generally intended for not-for-profit events and projects. The Foundation supports a small percentage of an applicant's overall budget. Grant decisions are made by the Foundation board of directors based on recommendations from juries and special committees. The Foundation has limited funding with which to attempt to address the many requests that fall within its mandate. The granting programs and processes are reviewed and evaluated annually.