Thursday, December 21, 2023

If You Build It . . . Endow It!

While it's not the oldest story in the book, it could come close.  A donor has a vision, and those in charge are ecstatic that someone has the resources to make their (sometimes) dreams come alive in the form of a park, performing arts center or concert series, foundation, science hall, experimental community, or anything one can affix letters to for naming rights.  The ribbon is cut, and the building or space is a successful monument in time to something very worthy.

Then . . . it happens.  Errors in decision making, maintenance costs, and changes in personas and priorities all of a sudden make a dream irrelevant.  What was seemingly a blue-ribbon idea has been cast aside in favor of the next bell or whistle with little more than an afterthought to the original intention or purpose of the physical plant or concept.

Looking at the trajectory, original donors have the option to make sure their intention stands the test of time.  Doris Duke did exactly that when her will spelled out a very specific architecture of a foundation that was established in 1996 after her death in 1993.  Other founders have not been so fortunate to find their passions taking on other avenues that abandoned the original intentions their legacies were meant to serve.

Establishing tight controls from the beginning with conditions for a specific intention helps level the playing field and assists trustees in their role to keep focused.  Narrow guardrails eliminates the need for reinvention.  Now - apply that philosophy to something physical.  Take for example an idea to take one square block in an urban core and dedicate it to glass sculpture.  Scenario: $100 million builds out the facility and secures permanent "statement pieces."  Then factor in staff, level of ongoing interest, a crack in the pond that develops over time, the cleaning of the glass exposed to unfriendly climate (example: Madeline Redstone's gift of Chihuly's "End of the Day Boat" to Eisenhower Medical Center), or any other number of details where future donors may be called to maintain a benevolent gift of the past.  When providing a gift to establish something tangible, immediately double the gift to endow its future to make sure it lives on in perpetuity or has a solid deaccession plan associated with the donation - most applicable for art which is definitely in the eye of the beholder - or a museum's Acquisitions Committee.

At the end of the day, gifts that are well-intentioned all come with a price.  The best methodology is to formalize a plan in writing in advance between the donor and recipient or custodian so that the long-term purpose can remain in tact or change with fluidity as required.

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