Scene - Blogs - Michael Kaiser on endowment dos and donts

Michael Kaiser on endowment dos and don'ts
Published: 8/23/2011 11:45 AM
Last Modified: 8/23/2011 11:45 AM

Michael Kaiser, president of the Kennedy Center for the Performing Arts in Washington D.C., and one of the most astute people in the world of non-profit arts organizations, has an excellent column today about the way endowments that many organizations such as opera companies and symphony orchestras try to establish should be used.

One telling quote: "Endowment enthusiasts believe when an organization creates an endowment it reduces the amount of money that has to be raised annually. This is very attractive to board members (and staff members) because fundraising feels scary and uncontrollable to many....In fact, this makes the organization less safe because the budget is now predicated on endowment earnings which, we learned during the past several years, are not always guaranteed. When the economy is in recession, and stocks and bonds lose a portion of their value, endowment earnings can disappear. But the organization which planned its budget before the downturn is still expecting endowment revenue."

Read the whole post here:

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James D. Watts Jr. has lived in Oklahoma for most his life, even though he still has people saying to him, "Don't sound like you're from around these parts." A University of Oklahoma Phi Beta Kappa graduate, Watts has received the Governor Arts Award, Harwelden Award and the National Conference of Christians and Jews Beth Macklin Award for his writing. Before coming to the Tulsa World, Watts worked for the Tulsa Tribune.

Contact him at (918) 581-8478.

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Past Articles By James D. Watts Jr

2/15/2013		'Concept/OK' exhibit ends Saturday
2/14/2013		Symphony to host piano soloist
2/14/2013		Broadway tours bring 'Shrek,' improv musical to Tulsa area this weekend
2/14/2013		Arts roundup: Improv reigns at several upcoming theater events
2/14/2013		'Lion King' returns to Tulsa PAC June 4
2/12/2013		Review: Signature Symphony reprises '100 Years of Oklahoma Music'
2/11/2013		Tulsa Symphony's concert salutes diverse American music
2/10/2013		Cherokee artist weaves messages into baskets
2/10/2013		Tesla Quartet set for Tulsa residency next week with variety of activities
2/10/2013		Jim Murphy wins 2013 Anne Zarrow Award
2/10/2013		LBJ chronicler Robert Caro to speak at TU on Tuesday
2/9/2013		Theater review: Playhouse makes "Barefoot in the Park" believable

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