Donate to the Holly Endowment Fund |
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The Holly Endowment Fund was established from donations by Holly patrons & supporters to maintain a pool of assets to be used exclusively for the long term benefit of the Holly theater. The assets are managed by an Endowment Fund Board that is separate and distinct from the management of the Holly Theater. Every year since 2010, the Endowment Fund makes a contribution to the Holly Theater that consists of some portion of the interest generated by the fund during the year. The principal portion of the endowment is never touched. The Holly Theater has an annual obligation to host a fundraising event for the Endowment to help continue to grow the principal amount of the endowment.
Endowment Fund Mission Statement
The mission of The Holly Theatre Community Center Endowment Fund Board is to be good stewards of the assets entrusted to this fund. This Board is dedicated to the continuance and enhancement of The Holly Theatre Community Center, Inc. by distributing funds to the Holly Theatre Community Center’s General Fund annually from the portfolio. The funds that will be considered for distribution are: all interest earned from the Fund (after expenses).
Common Misconceptions
Perhaps the most confusing term in the fund raising universe is “endowment.” It seems there are many perceptions and definitions for the word, and just as many myths! The following addresses a few of them:
Myth: Organizations with endowments are “rich.”
Reality: Endowment funds are restricted to preserve the principal sum in perpetuity, which provides a stable basis that protects the effectiveness of current and future gifts to any size organization.
Myth: Endowment funds can be accessed to pay the operating expenses if the Holly Board deems it necessary.
Reality: The Holly Endowment is incorporated separately from the Theatre and administered by its own board of
directors. The principal is invested and only the fund’s earnings can be expended; funds are distributed to the Holly each year after specific conditions have been met.
Myth: Endowment funds can be used as loan collateral and would be lost in case of a default.
Reality: Banks would not be able to access this separate, restricted account; as a result, endowment funds can not assist in financing theater projects.
Myth: By asking for endowment gifts, we are “robbing Peter to pay Paul.”
Reality: Annual gifts, Capital Project gifts like “Raise the Roof “ or "Let The Holly Fly", and endowment gifts each have a different but equally vital purpose: The former two types of gifts support the staging of shows, physical repairs and improvements of the theater. A gift to the Endowment provides a measure of long-term financial stability for the theater.
The mission of The Holly Theatre Community Center Endowment Fund Board is to be good stewards of the assets entrusted to this fund. This Board is dedicated to the continuance and enhancement of The Holly Theatre Community Center, Inc. by distributing funds to the Holly Theatre Community Center’s General Fund annually from the portfolio. The funds that will be considered for distribution are: all interest earned from the Fund (after expenses).
Common Misconceptions
Perhaps the most confusing term in the fund raising universe is “endowment.” It seems there are many perceptions and definitions for the word, and just as many myths! The following addresses a few of them:
Myth: Organizations with endowments are “rich.”
Reality: Endowment funds are restricted to preserve the principal sum in perpetuity, which provides a stable basis that protects the effectiveness of current and future gifts to any size organization.
Myth: Endowment funds can be accessed to pay the operating expenses if the Holly Board deems it necessary.
Reality: The Holly Endowment is incorporated separately from the Theatre and administered by its own board of
directors. The principal is invested and only the fund’s earnings can be expended; funds are distributed to the Holly each year after specific conditions have been met.
Myth: Endowment funds can be used as loan collateral and would be lost in case of a default.
Reality: Banks would not be able to access this separate, restricted account; as a result, endowment funds can not assist in financing theater projects.
Myth: By asking for endowment gifts, we are “robbing Peter to pay Paul.”
Reality: Annual gifts, Capital Project gifts like “Raise the Roof “ or "Let The Holly Fly", and endowment gifts each have a different but equally vital purpose: The former two types of gifts support the staging of shows, physical repairs and improvements of the theater. A gift to the Endowment provides a measure of long-term financial stability for the theater.