Page 10 - Clemens Center 2015–16 Annual Report

CLEMENS CENTER 2015–2016 ANNUAL REPORT
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TRestricted Funds
o help ensure the tradition of the Clemens Center for future generations of
our region, the Board of Trustees has two restricted funds. The interest of these funds provides the organization with a reliable source of annual income to help
contribute toward financial stability, quality performing arts events, and a home for six Resident Companies.
Samuel Clemens Sustainers Fund
A permanent fund established by the Board of Trustees. The principal of this fund may be withdrawn for extraordinary needs upon vote by two-thirds of the Board.
Josephine Walsh Zurenda Endowment Fund
A permanent fund established as a memorial to the wife of the Clemens Center’s first Board President, George P. Zurenda. The principal of this fund may not be used under any circumstances.
The Mandeville Family Fund for
Chemung County Performing Arts, Inc.
Established through a bequest from David C. Mandeville to the Community Foundation of the Elmira-Corning and the Finger Lakes, Inc., generates an annual grant to support our operations. This fund is managed by the Community Foundation.
Restricted Funds in Support of the Clemens Center $3,306,978
Clemens Center Sustainers Fund .................................................. $ 466,442 Clemens Center Endowment Fund............................................... $ 1,136,221 Community Foundation Mandeville Family Fund........................ $ 1,704,315
ODedication of Nancy Rose Portrait
n August 3, 2016, family and friends of the Clemens Center’s originating leaders gathered
for the unveiling of a portrait in the Hardinge Room to honor Nancy Melissa Tripp Rose. After a welcome from Board President, Mike Wayne, there were remarks about Nancy’s contributions of time and resources to the Clemens Center from her son, Frank “Turk” Rose, and Past President of the Board of Trustees, Betsy Dalrymple. Of special interest was the description by the artist, Dustin Boutwell, of the creation of the portrait from a family photo- graph. The painting was commis- sioned by an anonymous donor.
Programmatic and financial information reflected for September 1, 2015 through August 31, 2016.