The Inuit Art Foundation offers two awards as part of its mission to support capacity building activities for Inuit in the arts: the Kenojuak Ashevak Memorial Fund and the Virginia J. Watt and Dorothy Stillwell Award.

Kenojuak Ashevak Memorial Award

Established in 2014, The Kenojuak Ashevak Memorial Award is a residency fund in honour of the late Kenojuak Ashevak CC, ON, RCA (1927–2013). Awarded every two years beginning in 2018, the fund supports an artistic residency and provides up to $10,000 to an established artist.

Virginia J. Watt Award

Established in 1995, The Virginia J. Watt and Dorothy Stillwell awarded to a Canadian Inuk currently enrolled in a post-secondary institution, or equivalent, and who demonstrates an interest in Inuit art and cultural studies.