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