Great institutions are built on strong endowments, and at the Academy Center of the Arts, our growing endowment forms the foundation for setting new standards of artistic and cultural excellence.
The Academy Center of the Arts established its endowment in 1978 with gifts from visionary donors and community supporters. In May 2015, the Academy’s Board of Trustees voted to name its restricted Endowment Fund after the late John Morton Flippin, an early champion of the vision to restore the historic theatre.
Today, the Academy’s endowment includes the Board Reserve Endowment Fund, a vital resource specifically dedicated to addressing the ongoing and future facility needs of our historic venue. Growing this fund is crucial to ensuring that our buildings remain a vibrant part of the community for generations to come. The endowment as a whole, including the John Morton Flippin Fund, provides the financial foundation to launch new initiatives, plan for the future, seize opportunities for institutional advancement, and confront unexpected challenges.
The Academy has two Endowment Funds:
BOARD RESERVE ENDOWMENT FUND
Distributions from this fund are primarily used to support the impending facilities needs of the Academy. This quasi-endowment is managed by a majority vote of the governing board. Expanding the Board Reserve Endowment Fund is essential to securing the resources needed for ongoing facilities upkeep and future capital improvements.
JOHN MORTON FLIPPIN FUND
This permanently restricted endowment fund supports general operations of the Academy and is managed by the Academy Endowment Trustees. In accordance with standard endowment practices, the Trustees authorize an annual distribution of between 3% to 5% of the fund's average market value to support the Academy's operational needs.
Download the Endowment Pledge Form
Endowment funds work in concert with operating funds to give the Academy Center of the Arts a diversified financial platform capable of addressing both the current and long-term needs of our programs. While operating gifts help cover the annual costs of delivering our mission, endowment gifts are invested to earn interest. The Academy Center of the Arts receives a fraction of the fund’s value annually, which offers a steady income stream for everything from facility needs to special programs and initiatives. Endowment growth thus ensures a larger income stream in future years.
Since its inception, the Academy Center of the Arts’ Endowment has increased steadily, thanks to gifts from foundations, individuals, and corporations. Academy supporters can help guarantee the future of our beautiful buildings, innovative programs, and corresponding outreach and access initiatives by making a gift to the Academy Center of the Arts’ Endowment. The Academy is happy to recognize endowment gifts through commemorative opportunities and annual donor recognition.
For more information, contact our Senior Director of Advancement at (434) 515-2183.
Thank you to our Endowment Donors!
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Sharon & Sandy Ainslie
Melanie & Lynch Christian
Rosemary & George Dawson
Jill & John Fees
Anne & Jack Flippin
Charlynne Flippin
Jennifer & Watt Foster
Doni Guggenheimer
Frances Giles
Elizabeth & Michael Harrington
Christie & Kevin Hooper
Anne Langley
Elizabeth Laundon
Catherine & Mike Madden
Katy & Chal Nunn
May Jane & Charlie Pryor
JR & Reggie Pugh
Cary Roberts
Marc Schewel
Kay & Kent Van Allen
Randall & John Watts
Alex & Sackett Wood
Mina & Robin Wood
