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Name of Cultural Fund

Mississippi Endowment for the Arts Fund

Year Authorized

2006

Notes about the Status of the Fund

The fund is presently inactive. Fundraising began at the start of the recession and the board chose to suspend its efforts.

Purpose of Fund

To support the mission of the Mississippi Arts Commission

Note that the purpose of the fund is intentionally
generic.

Total Funding Goal

$1 million

Funding Sources

Private funding sources

Special Taxes or Legislation

The state arts agency’s enabling legislation allows it to receive tax credits.

Current Principal Amount

$200,000

Financial Management

Principal is managed financially by the Community Foundation of Greater Jackson in cooperation with the state arts agency. The plan is to use about 4%-5% of interest earned each year.

How Funds Will Be Distributed

No funds have yet been distributed. A committee exists to determine how funds will be spent, advised by a grants panel process.

State Arts Agency Role

The state arts agency is the primary manager of the Endowment.

Partners

Community Foundation of Greater Jackson

Other Notes and Comments

The Endowment was founded as a reaction to Hurricane Katrina.

 

Many thanks to Mississippi Arts Commission Executive Director Malcolm White for providing this information.

Updated May 2011 by Elizabeth Bentley-Smith