Name of Cultural Fund Texas Cultural Endowment Fund Year Authorized 1993 Contact NASAA for legislation Notes about the Status of the Fund The legislation was repealed in 2009. Purpose of Fund The purpose was to provide a permanent funding source for Texas's cultural arts. Total Funding Goal $200 million (unstated goal) Funding Sources State legislature: payments into the Endowment ceased in fiscal year 2003 Texas Cultural Trust: $3.1 million Special Taxes or Legislation None Current Principal Amount Funds have been restributed: private money was returned, public money given to the state arts agency. State Arts Agency Role The state arts agency initiated dissolution of the Endowment. Partners The Texas Cultural Trust, a 501(c)3 organization, was founded in 1995 to help raise matching funds for the Endowment. Other Notes and Comments Funds returned to the Texas Cultural Trust will be managed by them on behalf of the state arts agency.   Many thanks to Texas Commission on the Arts Executive Director Gary Gibbs for providing this information. Updated May 2011 by Elizabeth Bentley-Smith