Today, CenterStage Foundation has announced a significant challenge from The Mary Morton Parsons Foundation as part of its Landmark and Legacies Capital and Endowment Campaign.
This will be a generous 2 to 1 challenge valued at $500,000. In order to secure The Mary Morton Parsons Foundation’s $500,000 commitment, the Landmark and Legacies Capital and Endowment Campaign must raise $1,000,000 from individuals.
Robert Mooney, Chairman of CenterStage Foundation’s Board of Directors, said, “This generous challenge from The Mary Morton Parsons Foundation is timely and follows on several positive steps taken: public-private collaboration on planning; financial investment from the City; expected preservation and other tax credit reimbursements; and then extraordinary early lead gifts.”
The capital funding for the Landmark Theater renovations are a priority need for CenterStage Foundation as the Landmark’s needs have been extensive and jeopardize its widespread community use, and cultural and economic impact.
“This challenge gift from The Mary Morton Parsons Foundation gets us one step closer to our fundraising goals, and we are incredibly appreciative of their generosity as we continue this campaign,” said Richmond CenterStage Executive Director Richard M. Parison, Jr.
The Landmark and Legacies Capital and Endowment Campaign is seeking to not only restore and renovate the Landmark Theater, but to grow the CenterStage Endowment. To date, individuals have committed nearly $2,000,000 in lead endowment gifts to establish The James E. and Bobbie Ukrop Legacy Endowment. This legacy Endowment honors the couple’s lifelong commitment to the region’s arts and arts education.
The purpose of the Endowment is to cement the cultural legacy of CenterStage Foundation by providing greater long-term funding stability through fulfilling CenterStage’s mission of fostering dynamic artistic programming, transformational educational outreach and collaborative community partnerships.
The commitment from The Mary Morton Parsons Foundation comes on the heels of Altria’s leadership gift in July to renovate the Landmark Theater, which will be renamed the Altria Theater in 2013 following completion of the first phase of the extensive renovation.