A variety of sponsorship and giving opportunities are available, including sponsorship of community events, concerts, and exhibits. Your charitable donations are tax deductible. Please call the Council to learn more. (231) 893-2524
The Arts Council has a Legacy Circle and an Endowment Fund. Both offer the opportunity for individuals and families to support the arts in creative ways that best suit their needs and wishes.
Arts Council Forever!
The Legacy Circle is comprised of people who tell us they have named the Arts Council as a beneficiary in their will or trust. Please contact the ACWL offices for more info.
The Arts Council of White Lake established an Endowment Fund for the perpetual support of the Council in 2005, its 20th anniversary year. The Fund is intended to supplement grants and donations to perpetually continue operations of the Council. It is not a capital improvement fund. The Arts Council is now celebrating its 25th anniversary and the Board of Directors continues to look optimistically at a long term future for the Council.
A major contributor to our extended life will be the organization’s financial strength. Over the years the state of Michigan, through the Michigan Council for Arts and Cultural Affairs (MCACA) has provided a major assist with grants. However, MCACA has suffered with the rest of the state, and available grant funding declined from $9.8 million in 2005 to $1.5 million in 2010. The Arts Council was one of just 4 Muskegon County recipients of a MCACA grant this year. The Council’s growing Endowment Fund is now more important than ever.
What Is An Endowment Fund? A permanent investment fund set up by the Council where regular withdrawals from the earnings of the invested capital may be used for ongoing operations or other specified purposes. The Arts Council’s Endowment Fund, managed by the Community Foundation of Muskegon County, is set up so that there are no withdrawals from invested capital. That money continues to be invested and, hopefully the account continues to grow. The Arts Council may, instead, take some of the earned interest each year to use for budgeted expenses. This potential amount represents about 4% of the invested capital.
Donations to the Endowment Fund are tax deductible. While you should always consult your tax advisor on these matters, donations may be itemized on your Federal taxes. A contribution to the Community Foundation is also deductible in part as an offset against taxes owed to the state of Michigan. Donations made as a part of your estate reduce the tax liability of your estate.
Why the Arts Council? Arts and culture play an essential role in the vitality and strength of every community, including the White Lake area. Evidence of this may be found in a December, 2005 study by the Michigan Department of History, Arts and Libraries where they said, “They, [small community cultural organizations] stimulate broader civic engagement, expand residents’ sense of capacity and strengthen bridges between neighborhoods. They contribute to a rich, diverse and respectful cultural mix. Together, these non-market and quality of life contributions enhance the capacity of communities to attract and sustain economic development.” The report went on to state, “An investment in Michigan’s cultural assets is an investment in economic growth and quality of life and will create jobs, strengthen a community’s tax base, attract and retain talented people to live and work in Michigan, influence business development and expansion decisions, inspire downtown revitalization and historic preservation and build community identity and pride of place.”
The Arts Council’s Endowment Fund In the four and one-half years of existence, the Endowment Fund has grown to $32,250 including interest and appreciation in spite of a severe economic downturn, exceeding the growth in the Dow Jones Industrial Average. The goal for the 25th anniversary year is to build to a Fund value of $50,000.
Please give consideration to the Arts Council’s Endowment Fund as you consider your charitable giving plans.
How Can I Contribute? There are several ways to contribute. Donations may be made (always note “For ACWL Fund”) 1- By check or credit card mailed to Community Foundation for Muskegon County, 425 W. Western Ave., Muskegon, MI 49440 2- On line at https://cffmc.org/give/online-giving 3- Through transfer of appreciated stock, offering tax benefits. 4- By remembering the Arts Council in your will, a trust or other planned gifts (the Legacy Circle).
For more information about the Arts Council’s Endowment Fund please contact Judy Stojak at 231.893.2524.