A Gift Towards our Future
Great institutions are built on great endowments, and at the Academy Center of the Arts, a growing endowment is a foundation for which our organization can set new standards for delivering artistic and cultural excellence.
The Academy Center of the Arts established the endowment in 1978 (originally the Fine Arts Center prior to the merger) with gifts from visionary donors and community supporters. In May of 2015, the Academy’s Board of Trustees voted unanimously to name its Endowment Fund after the late John Morton Flippin, who was an early adopter of the vision to restore the historic theatre. The endowment is an unrestricted fund that provides the financial underpinning to launch new initiatives, plan for future years, seize opportunities for institutional advancement, and confront unanticipated challenges.
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 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 basic 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 innovative programs as well as corresponding outreach and access programs by making a gift for 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 Director of Development at (434) 528-3256 x118.
