The main role of the Federation of Canadian Music Festivals, in addition to encouraging support of music festivals across Canada, is to organize the National Music Festival in which winners from each province participate.

The first National Festival took place in Toronto in 1972. The following year CIBC undertook a 24-year sponsorship of the competition.  Over the years it has become a highly acclaimed event for young Canadian musicians embarking on classical music careers.  Today, competitions are held in solo voice, piano, string, classical guitar, woodwind, brass, chamber group, and five choral categories.

The National Music Festival provides a showcase for Canada's finest young classical musicians. The winners in each category are awarded $1,500, while second and third place award winners receive $1000 and $500 respectively.

The final event of the National Music Festival is the Grand Award Competition in the form of a gala recital by the first place winners of the seven music categories.  The panel of seven adjudicators selects the participant who, in their opinion, has given the outstanding performance of the evening.  This musician receives the GRAND AWARD: in 2006, the NRS FOUNDATION (through the Victoria Foundation) $5,000.

Communities throughout the country have an opportunity to host this event, which brings Canada's gifted young musicians to the attention of all Canadians.