One week after the announcement that the New Albany Community Foundation raised $1 million at its annual fundraiser, "A Remarkable Evening," foundation officials and board members say the money presents plenty of possibilities.
One week after the announcement that the New Albany Community Foundation raised $1 million at its annual fundraiser, “A Remarkable Evening,” foundation officials and board members say the money presents plenty of possibilities.
“Basically, you’re building your capacity to sustain programming,” said Craig Mohre, executive director of the community foundation.
Mohre said the foundation places money in endowments to earn interest. Typically, grants are offered with the money earned in interest so the fund can provide for ongoing programs. Mohre said money placed in endowments typically remains untouched for 13 fiscal quarters, a policy adopted by the foundation board.
The foundation raised about twice as much money this year as it did from last year’s “A Remarkable Evening,” when author James Bradley’s appearance netted $500,000. The funds will help the foundation build its arts center endowment, which supports programming at the Jeanne B. McCoy Community Center for the Arts on Dublin-Granville Road.
Proceeds from two sponsor-level amounts — $5,000 and $15,000 — are split evenly with the McCoy center, and the sponsorship levels also include tickets to the McCoy center’s season events and annual gala. The foundation typically provides $150,000 to the McCoy center in funding and they partner on the gala fundraiser.
The foundation supports several missions, including education, entertainment and the arts, health and wellness initiatives and sustainability.
This year, an arts grant will help underwrite the New Albany Arts Council’s (NAAC) junior musical production of “State Fair,” to be performed at the McCoy center next summer. The $10,000 grant was donated by Tiney McComb, who was honored Nov. 17 during the foundation fundraiser as the recipient of the 2011 Jeanne and John G. McCoy Community Service Award. The funds came through an endowment established in honor of Tiney’s late wife, Helena McComb.
“Budget ‘breathing room’ is nearly always a concern for nonprofit arts organizations,” said NAAC president Kathy Mayhorn.
She said the NAAC has several costs associated with the production of “State Fair,” including directorial and licensing fees, costumes, facility rental and set-production costs.
She said the gift from the McComb family is “consistent with Helena McComb’s vision that this gift sustains musical theater programming for our local intermediate and middle school-aged children for another season.”
Other grants awarded by the community foundation this year include:
• $800 from the Helena McComb Memorial Fund for the New Albany Children’s Choir.
• $10,000 to the New Albany-Plain Local environmental science program to purchase solar panels that will be monitored by students. The money was donated in honor of Mike Morris, who recently retired as chief executive officer of American Electric Power.
• $10,000 to the New Albany Symphony Orchestra for rental fees incurred from performances at the McCoy center.
• $5,000 to the New Albany Children’s Ballet Theatre for McCoy center rental fees for “The Nutcracker.”
• $50,000 to the New Albany-Plain Local School District for its benchmarking initiative. The donation included $25,000 from the Corna Kokosing Construction Co. and was accepted by the school board Nov. 21.
• A grant of $20,451 to the New Albany-Plain Local School District for the artist- and author-in-residency programs founded by Carolyn and Lance White through their endowment fund. The program also is supported by the district’s parent-teacher organizations and the New Albany Women’s Network. Mohre said the foundation grant committee had agreed to offer up to $30,000 for the program. The school board on Nov. 21 accepted $20,451, which is the anticipated cost of the program.