The NERAM Foundation invests the funds raised with the aim of generating an ongoing income stream to assist the operations of the New England Regional Art Museum each year.
“The Foundation is one of the keys to NERAM’s long term sustainability and viability,” said Robert Heather, Art Museum Director. “We see the ongoing funding provided by the NERAM Foundation as being the most successful strategy for securing NERAM’s future and providing financial certainty to NERAM and its activities.”
“Donations to the NERAM Foundation are fully tax-deductible and its purpose is to raise funds and invest them in an endowment fund with the return on investments being used to make an annual contribution towards the museum’s running costs,” he said. “As the Foundation’s endowment fund is invested and grows it will provide more funds each year towards NERAM’s operational costs such as staffing, insurance, building maintenance as well as the exhibitions and programs that make the art museum come alive.”
The money that is donated to the 2018 Annual Appeal will continue to grow year after year after it has been invested by the NERAM Foundation and for long into the future it will continue to contribute towards the running costs of NERAM’s facilities, programs and operating costs.
“In 2008, we launched the NERAM Foundation and many people in the local community have made important donations to the Foundation. All the donated funds were invested and we now have a total of $544,800 invested.” Said Andrew Murray, Chair of the New England Regional Art Museum Ltd. “This fund will make an annual payment of approximately $21,000 to NERAM this financial year. It has taken us 10 years to get to this point and is an impressive start to what we hope will become a major funding body in NERAM’s future sustainability.”
“The capital works undertaken at NERAM over the past three years has meant that our building has had a significant facelift, is more energy efficient and that the beautiful Howard Hinton Collection is now on permanent display and attracting visitors from around the country,” he said. “Now that this work is largely complete we want to focus more on the growth of our Foundation as our main strategic priority over the next three years.”
In 2017 the NERAM staff, Board and stakeholder groups worked together to develop the new NERAM Strategic Plan 2017-2020 which provides the organization with a clear pathway for the future. This process identified the importance of developing financial stability for the organization to deliver an artistic and educational program that will inspire NERAM’s community and visitors.
Prospective donors are being asked to make a one-year donation or a 3-year pledge to the NERAM Foundation. All donations are fully tax deductible and the funds donated will be preserved indefinitely under the terms of the Foundation Trust Deed with only the income generated being used to support NERAM each year.
Download the DONATION FORM: 2018 NERAM Annual Appeal