August 25, 2017 at 3:50 p.m.
ArtStart establishes agency endowment fund through Rhinelander Community Foundation
ArtStart establishes agency endowment fund through Rhinelander Community Foundation
"The decision to form our fund was not taken lightly. Both the ArtStart board and the Rhinelander Community Foundation board worked for months reviewing the policies and language of the Agency Endowment Fund to make sure it was beneficial in the short term and sustainable for both organizations long term," ArtStart program and operations director Ashley McLaughlin explained in a press release.
Agency funds are created by or on behalf of a nonprofit organization and increase opportunities for a charitable organization to maximize investment returns, ensure long-term growth, and create a vehicle for additional gifts, the release states. Placing an endowment with RCF relieves the organization of internal accounting and external reporting, and increases opportunities for maximizing investment returns.
"It was a natural fit that our fund be housed in our own community through RCF. Working together helps the organization, the foundation, and the community become stronger," said Melinda Childs, development director at ArtStart.
According to Sue Makris, who assists in coordinating the efforts of the Community Foundation, "ArtStart's mission to provide cultural events and visual exhibitions with the purpose of strengthening and sustaining our community and their interest in long-term growth aligns with the mission of the Rhinelander Community Foundation which is to enhance the quality of living in the Rhinelander community now and for future generations. We look forward to continued partnerships and collaborations."
The RCF's 1870 Founders' Circle was established to recognize those forward-thinking individuals and businesses who have demonstrated their commitment to enhancing the quality of living in the Rhinelander community now and for future generations by making lead gifts.
For more information about either ArtStart or the Rhinelander Community Foundation go to www.artstartrhine-lander.org or www.
rhinelandercommunityfoundation.com.
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