ASC Invests $12.5 million In Charlotte’s Cultural Community

Categories: Annual Fund Drive, ASC, Blog

Late last month, ASC announced during its annual Impact + Investment luncheon investments of $12.5 million in Charlotte-Mecklenburg’s cultural community for the upcoming year.

ASC Board Chair Linda Lockman-Brooks (l) and Immediate Past Board Chair Curt Fochtmann (r).

The investment is comprised of public and private funding that include the city of Charlotte, Mecklenburg County, North Carolina Arts Council, surrounding Mecklenburg County municipalities, endowment earnings and ASC’s Make Your Mark campaign that raised $8.4 million, a $100,000 increase over last year’s campaign.

Investments allocated in direct funding to arts, science and history/heritage organizations, cultural neighborhood projects and artists total $11,992,860.  Indirect funding, totaling $519,900, will support capacity building and training efforts for cultural organizations and artists that include board development and management to audience development.

“Due to the generous support of ASC’s public and private donors, ASC will continue to invest in organizations, projects and programs that have proven themselves worthy of support,” said ASC President Scott Provancher.  “The dollars also enable us to continue our partnership with Charlotte-Mecklenburg Schools and provide resources from the cultural sector that align with the curriculum.”

Charlotte Folk Society members performing at ASC’s Impact + Investment Luncheon.

The majority of ASC’s funding comes from the Make Your Mark campaign, the annual fundraising drive.  The fund reached its height in 2008 with $11.4 million.  With the changing economy in 2009, the fund raised $7.1 million, a 38% shortfall.  However the fund drive, primarily generated from workplace campaigns, continued to meet its fundraising goal year over year.  The 2011 campaign raised an extra $1 million for education programs in Charlotte-Mecklenburg Schools.

“Even though we were ambitious in setting an $8.7 million goal and did not reach that number, I am pleased that we exceeded last year’s goal by $100,000 and continue to be one of the top United Arts Funds in the U.S.,” said Provancher. “It’s a true testament to how much value our community places in arts and culture.  We are fully aware of and continue to see changes in our current revenue model and are working on strategies to find new sources of funding to support the cultural sector.”

To see a full list of grantees, click here.

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