WEST PALM BEACH, FL (July 16, 2015) – The Community Foundation for Palm Beach and Martin Counties is excited to introduce a special opportunity to local arts and cultural organizations – the Forever Arts & Culture Endowment Challenge.
The Forever Arts & Culture Endowment Challenge will encourage up to ten arts and cultural organizations in Palm Beach and Martin Counties to establish a permanent endowment with the Community Foundation. The Community Foundation will invest $250,000 into this initiative, up to $25,000 per organization.
An arts and cultural organization is a nonprofit organization that supports creative people and effective institutions. These organizations in our community are dedicated to furthering cultural activities including the arts, literature, history, or educational science activities.
The Community Foundation will administer the Forever Arts & Culture Endowment Challenge. Organizations that demonstrate institutional readiness, financial stability, and fundraising maturity are encouraged to participate.
“This Challenge is the beginning of an initiative to encourage our community to endow our future,” said Bradley Hurlburt, President and CEO of Community Foundation for Palm Beach and Martin Counties. “Building a long-term, revenue-producing endowment is one of the best ways a nonprofit organization can build a stable financial future.”
“At the Council, we are excited about this project as it helps to sustain local cultural organizations,” said Rena Blades, President and CEO at Palm Beach County Cultural Council. “What better avenue for organizations to prepare for their future than establishing their legacy? We encourage Palm Beach and Martin County cultural organizations to attend an information session in their area and consider participating in The Forever Arts & Culture Endowment Challenge.”
Arts & cultural organizations within Palm Beach and Martin counties are invited to submit a letter of inquiry to be considered for the challenge program. Organizations with limited endowments or without permanently restricted endowments will be given priority. Letter of inquiry submissions will be accepted from September 1 – October 31, 2015.
The following information sessions are opportunities for an agency’s Board of Directors and executive staff to learn more about how an Agency Endowment Fund at the Community Foundation operates.
August 27, 2015 from 4pm - 5:30pm
Community Foundation for Palm Beach and Martin Counties
700 South Dixie Highway
West Palm Beach, FL
September 1, 2015 10am – 11:30am
Martin County Children’s Services Council
101 SE Central Pkwy
September 2, 2015 10am – 11:30am
Vegso Community Resource Center
261 NW 13th Street
Boca Raton, FL
For more information and a list of local agencies that have an endowment with the Community Foundation, visit www.yourcommunityfoundation.org.
ABOUT THE COMMUNITY FOUNDATION: The Community Foundation for Palm Beach and Martin Counties is one of Florida’s largest community foundations. The nonprofit organization has provided nearly $110 million in grants and scholarships over its 43-year history. At its core, the Community Foundation is an organization created with gifts from generous people committed to local causes. For donors, the Foundation serves as a philanthropic advisor. For the community, the Foundation serves as a grant maker and a civic leader. Through the support of its donors and fund holders, the Foundation has been able to address some of the community’s most pressing needs, including hunger, housing and education.