Minnesota Arts Groups Set Record Fund-Raising Goals

MINNEAPOLIS, Minn. (July 10, 2001) Minnesota's arts nonprofits are setting record-high goals for their capital and endowment fund-raising campaigns, according to a new report from the Minnesota Council on Foundations. The report shows that arts, cultural and humanities organizations in Minnesota have current or anticipated capital or endowment campaigns with a combined goal of more than $471.3 million -- by far the highest number and dollar goal of such campaigns since the Council began tracking these figures in 1989.

The report, which is based on a 2001 survey of nonprofits, shows that the state's arts groups are currently operating at least 40 capital and endowment campaigns to raise $250.9 million and are anticipating the launch of at least 72 additional campaigns to raise another $220.3 million in the next five years. The total dollar goal of anticipated campaigns has increased more than 2,000 percent since 1997, the last time the Council conducted a study, and is the highest such amount ever recorded by the Council.

Other key findings in the report:

• Minnesota's arts, cultural and humanities organizations raised at least $161.2 million in capital and endowment campaigns that were completed in 2000, meeting 102 percent of their combined goals.
       
• Of the survey respondents that offered breakdowns of their planned campaign funding sources, about half are expecting to raise at least $65.7 million from foundations and corporations and $78.7 million from individuals.

"We hope the information presented in this report will foster a productive dialogue to help grantmakers and nonprofits perform their work more efficiently and effectively," said Council president Bill King. "The report demonstrates the commitment of the Council and its members to be effective partners with nonprofits to meet community needs." The report was underwritten by The McKnight Foundation on behalf of a working group of private and corporate grantmakers interested in discussing funding issues in the arts.

Copies of the "Arts Capital & Endowment Campaigns in Minnesota 2001" report are available for $3.00 from the Council (612/338-1989, info@mcf.org), although quantities are limited. The report is also available on the Council's Web site at www.mcf.org (select "MCF Resources").

Founded in 1969, the Minnesota Council on Foundations is a regional membership association of grantmakers working to improve the vitality and health of our communities. The Council's broad and diverse membership includes private foundations, community and other public foundations, and corporate foundations and giving programs. The Council's mission is to strengthen and to increase participation in philanthropy.

CONTACT: David Biemesderfer, director of communications and external relations, 612/335-3597, dbiemesderfer@mcf.org.

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