Name of Cultural Fund Kentucky Foundation for the Arts Year Authorized 1998 Contact NASAA for legislation Notes about the Status of the Fund The fund has been inactive since its incorporation. There has been recent discussion about initiating a state arts license plate program to generate funds. Purpose of Fund "The purpose of the foundation shall be to enhance the stability of Kentucky's arts organizations and to ensure Kentuckians have access to the arts through the support of an endowment fund." Total Funding Goal No stated goal Funding Sources Legislative appropriations, private gifts and grants. The Foundation's board has the right to solicit contributions from public and private sources. Special Taxes or Legislation None Current Principal Amount $0 Financial Management Funds retained, including any interest earned, will be credited to the Foundation and invested by the Office of Financial Management. The six-member board of trustees, all appointed by the governor, will manage the Foundation. How Funds Will Be Distributed No funds have yet been distributed. Accrued interest can be used for matching grants for either the Performing Arts and Visual Arts Touring Subsidy Program or the Institutional Stabilization Program. State Arts Agency Role The state arts agency is to provide administrative support (staff and office space) as needed. Many thanks to Kentucky Arts Council Executive Director Lori Meadows for providing this information.   Updated May 2011 by Elizabeth Bentley-Smith