The Culture, Health, Arts, Sports and Education Fund (CHASE) was incorporated on November 25, 2002 and began its operations in January 2003.
It was registered under the Companies Act to receive, distribute, administer and manage the monetary contributions from the lottery companies pursuant to Section 59G of the betting Gaming and Lotteries Act, in connection with Sports Development, Early Childhood Education, Health and Arts and Culture.
The company became a reality based on the concept of ‘taxes foregone’ that would have normally gone to the consolidated fund. The approach had as its precedent the establishment of the Sports Development Foundation (SDF) to receive a percentage of the proceeds earned by the first licencee permitted to conduct a lottery, the Jamaica Lottery Company.
The rationale for the establishment of the CHASE Fund hinges on the assumption of greater efficiencies to be realized from a central administration.
The CHASE Fund is managed by a twelve (12) member board supported by a Chief Executive Officer and staff.
Phillip Henriques, businessman and Managing Director of Kingston Industrial Agencies Limited, has been the director of the CHASE Fund since 2002 and assumed the chairmanship in 2007.