What is an endowment fund?
An endowment is an investment fund set up by an institution in which regular withdrawals from the invested capital are used for ongoing operations or other specified purposes.
What is the Rapid City Arts Council (RCAC) endowment fund used for?
RCAC funds stay in an account managed by the Black Hills Area Community Foundation. These funds help reduce costs for art classes and camps, performances and events; and keeps our galleries open and free to the public six days a week, making the arts accessible to people of all ages, abilities and income levels. The principle is never touched. A small dividend is given to the RCAC annually to be reinvested in the arts.
Why Donate One Dollar Today?
If each person who came to the Dahl Arts Center this year for an event, class or to view the exhibitions donated one dollar we would be able to add $30,000 to our endowment fund.
Over time our endowment continues to grow, allowing us to keep costs low and programs accessible into the future. The more we invest in our endowment, the higher the return and the more money the RCAC is able to reinvest in arts programs
For more information about donating to our endowment fund, please contact Pepper Massey or call 605.394.4101 x201.