A stipulation of the approved advisory question is that private-sector funding be used to
create a $4 million endowment to ensure long-term sustainability for the Performing Arts
Center.
PROPOSED ENDOWMENT FUND
The $4 million endowment will help to ensure long-term sustainability of the Performing
Arts Center. As an endowment fund, the $4 million principal remains intact; the annual
investment income may be used to support operations. The endowment fund will be
invested and managed by a professional investment manager and overseen by the
Performing Arts Center's board of directors.
OBJECTIVE
Full Circle Consulting was contracted by the City of Nashua to test the feasibility of a
private capital campaign to secure private charitable contributions for the Performing
Arts Center.
WHAT WAS TESTED
The feasibility study began in earnest in June; since then plans for the operating structure
of the Performing Arts Center have evolved.
Presented to
Interviewees
Current Plan
Responsibility for
Independent Nonprofit
Independent Nonprofit
responsibilities
the building Organization Organization
Nonprofit Hire and mange staff to run | Oversee contractor
responsibilities day-to-day operations
Third-party Book all performances All operations of the Performing
contractor Arts Center and booking of all
performances
Use of private
charitable
contributions
Toward establishing a $4
million endowment to
support the long-term
sustainability of the
nonprofit
The combined $6.5 million in
private sector funds will establish
a $4 million endowment and
support construction and fit up of
the new Performing Arts Center
The plan has always been to put the responsibility for the ongoing operations of the
Performing Arts Center into the hands of a nonprofit. Under the current plan the third-
party contractor will manage the day-to-day operation as well as the bookings. As the
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