Please Give to Endowment
The Flint Institute of Arts operates with funds from six sources of support: endowment income, grants, earned income, contributions, membership, and revenue from the Genesee County Arts Education & Cultural Millage. Twenty-six percent of the budget is funded from the FIA’s endowments. Through the generosity of friends and benefactors, and with superb financial management, the FIA has grown its endowment over the years. Still, the endowment remains well below those of many of our peer institutions.
Many people do not know exactly how giving to endowment works. When you give to the FIA endowment fund, the FIA invests your gift as part of its overall endowment portfolio, which is for general or day-to-day operations. You may also designate a specific area of operation you wish to help and, if designated, the funds are added to endowments restricted for the defined use.
Each year, a portion of the value of endowed funds are paid to support the fund’s purpose (general operating, collections, scholarships, etc.). Any remaining earnings are used to build the endowment’s value. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity.
In the spring of 2018, the FIA launched a $4 million Endowment Campaign immediately following the completion of the construction of the Contemporary Craft Wing and Hot Shop. The funds raised will be invested to help ensure sustainability of these additions to the museum and art school. To date, nearly half of the goal has been raised.
You can strengthen the FIA’s endowment by making an outright gift, pledge, bequest, or establish other planned gifts, such as a charitable gift annuity or charitable trust. Planned gifts can be tailored to meet your family’s financial needs. In addition, you can enjoy a significant tax deduction while reducing or eliminating capital gains and/or estate tax liability.
Please consider contributing to the Endowment Campaign, our goal is half full. For more information, contact Kathryn Sharbaugh, 810.234.1695 or email@example.com.