ENDOWMENT TELLS OF FUNDING PLAN FOR L.A.
The first step in a plan to build a $1.2-million fund to aid small- and medium-sized arts organizations in Los Angeles was disclosed Thursday by the National Endowment for the Arts.
NEW Chairman Frank Hodsoll and Armand S. Deutsch, co-chairman of the President’s Committee on the Arts and Humanities, announced a grant of $100,000 a year over the next four years to the Brody Arts Fund of the California Community Foundation.
Grants awarded under the new category require a two-to-one match in private funds to go to a permanent endowment. The foundation’s plans, as outlined in its request to the NEA’s Expansion Arts Program, call for the funds to serve as a catalyst for generating an additional $200,000 in matching funds from the private sector in each of the next four years.
The federal grant is the largest of only seven awarded nationally.
The California Community Foundation is Southern California’s oldest and largest public charitable trust, distributing grants worth $4 million annually.
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