Substantially Increasing Endowment
Gifts received toward pillar: $53.8 million of the $95+ million committed to the Future—Forward Campaign
When the Future—Forward campaign was launched in 2016, increasing the endowment to $100 million was the primary goal. With the generous support of our board of directors, philanthropic community, patrons and donors, we have surpassed this goal, and the endowment now stands at over $119 million, including $53.8 million pledged or committed as part of the Future—Forward campaign.
Having a robust endowment supplements revenue to expand programming during healthy financial times. And as we know from the complex year that 2020 presented for Artis—Naples and the world, an endowment also provides a buffer against economic downturns. In keeping with best practices, Artis—Naples takes an annual disbursement from the endowment equal to five percent of the 20-quarter rolling average balance on December 31. These funds help provide for additional programming or educational opportunities that ticket sales and annual fundraising efforts do not cover.