The Goodspeed Endowment
The Goodspeed Endowment is made up of individual gifts – both lifetime and by bequest - that have been made in order to provide permanent, ongoing support for Goodspeed Musicals, Inc and the preservation of American musical theatre. Unlike current gifts and income from ticket sales, these funds are invested for future growth and only a certain percentage of principal - currently 5% - is used every year to help us carry out our mission. The Endowment is managed by several investment firms each responsible for a different asset class. An investment committee monitors overall performance in an effort to obtain the greatest amount of growth with the least risk.
Did you realize that current gifts and ticket sales only cover 60% of Goodspeed’s cost to stage a production? Some of that difference is made up from the endowment, which can be considered a savings account with interest being used to offset operational expenses. Endowment income is vital to the health and future of Goodspeed’s mission.
Many people who make use of Planned Giving vehicles find they can give more when they discover the possible benefits of tax savings, asset management, and regular payments to them for life. They also find that gift giving need not mean sacrificing their own or their loved ones' financial security.
In fact, Planned Giving may help you:
- Create a supplemental source of retirement income.
- Ensure a protected income for your spouse or other loved ones who survive you.
- Arrange funds to cover educational expenses for children or grandchildren.
- Increase your income from low-yielding stocks or other assets.
- Continue your important support of American musical theatre, helping to ensure the survival of one of our country’s few indigenous art forms for future generations with the establishment of a permanently named fund or endowment.
With these possibilities in mind, read on to learn about several different gift plans that allow you to give more while helping to preserve your economic well being.
Contact: Gloria Gorton, Director of Major Gifts
Phone: (860) 873-8664 ext. 366
Fax: (860) 873-2329
Email:gloria.gorton@goodspeed.org