Owen Sound Little Theatre (OSLT) is thrilled to announce it has opened an endowment fund at the Community Foundation Grey Bruce (CFGB).
The OSLT Endowment Fund was made possible after the Community Foundation made a donation in 2016 on behalf of its former Executive Director Aly Boltman, who is also OSLT's former Theatre Manager. Ms. Boltman chose to allocate the money to OSLT as a gesture of ongoing commitment to the organization and the venue it owns and operates, The Roxy Theatre.
"It was very generous of Aly to name OSLT as the beneficiary of the Community Foundation monies, allowing us to create the OSLT Endowment Fund," said Maria Canton, manager of The Roxy Theatre. "OSLT is now in its 56th season and has an established foundation and solid sense of place in the community. However, as a creative organization that relies on public support, it can be difficult to plan financially for the long term."
An endowment fund is a permanent, self-sustaining source of invested monies that generates perpetual, reliable revenue annually to help support all of the work that is done at OSLT.
"The creation of an endowment fund sets the stage for another successful 56 years and beyond," Canton added.
OSLT founding member Ruth Gorbet, who is still actively involved with the theatre today, was the first community member to step forward with a donation to the new fund.
"The main purpose of this fund is to keep the theatre in the community in perpetuity," said Gorbet, who with her late husband Norman, has been involved with OSLT since 1961.
"Theatre is life. Theatre encompasses all of the arts: writing, music, art, and all forms of artistry. We need to ensure we have the theatre here forever so everyone can have a chance to experience it. I'm so happy we have this endowment fund now and we will be able to make that happen."
With the OSLT Endowment Fund now in place, everyone can help secure the artistic mission of not only OSLT, but of arts and culture in the community, thus enabling future generations to experience the transformative magic of the stage.
Stuart Reid Executive Director of CFGB said, "The Foundation congratulates OSLT on the establishment of its endowment fund. The theatre is a cultural cornerstone in Grey-Bruce, enriching the lives of so many people, year after year, and now that legacy will continue for future generations."
There are many ways for people to contribute to OSLT's Endowment Fund, including simply making a one-time donation. For many donors, however, it is an opportunity to plan a major gift to an organization. A planned gift is simply a donation that is arranged in the present and allocated at a future date. While planned gifts are commonly donated through a will or trust, they can also be made during a donor's lifetime.
source: media release, Owen Sound Little Theatre
