The Idea of Permanency
The PacRep Theatre Endowment Fund
Paciific Repertory Theatre, a professional company entertaining audiences for 26 years, is currently renovating their historic site. The board was interested in permanent funding and came to the Community Foundation for advice. The Pacific Repertory Theatre Endowment Fund was established with the Community Foundation for Monterey County in December, 2008.
President Bernie Furman: The board decided to place its endowment with the Community Foundation because of the Foundation’s reputation and ability to provide management support as well as valuable promotion to potential donors to the fund. Through pooling funds from various nonprofits, Community Foundation, we felt, was in the best position to realize the greatest return on our investment.
Founder Stephen Moorer: The creation of the PacRep endowment was a collective effort on the part of the board of directors. Given a $20,000 challenge gift by a member of its Advisory Council, the theatre’s board set out to match it within a specified period of time, and they did!
Bernie: The first named fund within the PacRep Endowment was created in memory of Fred Nelson by his wife, Karyl Hall, a member of the PacRep board. In the future, gifts will be made to the General Endowment Fund at any level, the Nelson Fund, or other funds which can be created with an initial gift of $10,000.
Karyl: “I was drawn to the idea of permanency. I want the theatre to be here forever and an endowment with the Community Foundation will go a long ways in helping that to happen. It was also a very meaningful way for me and my friends to remember my late husband who enjoyed theatre as much as I do."
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