$120M windfall for Americans for the Arts
From Monday, December 30, 2002
According to this New York Times story (registration required), this nonprofit's windfall will mean $6-7M in interest nearly doubling its budget. Wish one of the nonprofits I'm involved with would have such luck.
A low-profile arts advocacy group is pondering the delightful question of what to do with a sudden windfall of $120 million.
Americans for the Arts, which helps local arts councils lobby for money and support, received the money in November from the philanthropist Ruth Lilly. Ms. Lilly also made a comparable gift to Poetry magazine.