Name of Cultural Fund Vermont Arts Endowment Year Authorized 1990 Purpose of Fund The Vermont Arts Endowment is an independent fund created to support artists and organizations of all sizes. The stated purpose is to "promote art for art's sake." Total Funding Goal $1 million (achieved) Funding Sources National Endowment for the Arts: $50,000 challenge grant Private funds: a single, anonymous donor Special Taxes or Legislation None Current Principal Amount about $1 million Financial Management The Endowment is housed in the Vermont Community Foundation, which acts as administrator and financial advisor. How Funds Will Be Distributed The Foundation distributes $60,000-$75,000 each year through project grants to individual artists and organizations. Grants have a matching requirement and requests are in the $3,000-$5,000 range. Awards are determined by a peer-review panel. State Arts Agency Role The state arts agency was the primary actor for originating the Endowment, and acts as an advisor for grant panels. Partners Vermont Community Foundation Other Notes and Comments Due to its status, the state arts agency can apply for funding from the Endowment. Many thanks to Vermont Arts Council Executive Director Alex Aldrich for providing this information. Updated May 2011 by Elizabeth Bentley-Smith