Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Museum foundation announces multi-million-dollar endowment gift to fund Young Explorer Center and programs
Summary
Trustees heard that a recent multi-part gift raised the museum foundation's endowment into the multimillion-dollar range and that trustees plan to allocate a 5% annual draw (with a three-year averaging policy) to support the Young Explorer Center and research funds; staff said full gift documentation and donor details are pending.
The Virginia Museum of Natural History’s board was told Nov. 15 that the museum foundation has received a multi-part historic gift that raised the foundation’s endowment into the multimillion-dollar range and will fund near-term projects, including a planned Young Explorer Center.
Presenter (S5), who gave the foundation update, said the gift arrived in three allotments that initially totalled about $4,500,000 and that the overall endowment figure discussed during the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
