A local philanthropic couple continued their support of culture and arts in downtown Madison Monday as the Pleasant T. Rowland Foundation announced a multimillion-dollar endowment grant for art organizations that will reside in the Overture Center.
The Overture Center is a cultural arts facility on the 200 block of State Street funded by a donation from Rowland's husband, Jerry Frautschi. It will house organizations ranging from the Madison Art Center to the Wisconsin Academy of Sciences, Arts and Letters.
\This gift will ensure, that for generations to come, Madisonians will be be able to enjoy truly great performances in a truly great facility,"" Rowland said in a statement.
According to Roberta Gassman, a consultant to the Rowland Foundation, the $23 million Great Performance Fund will match endowment investments produced by the recipients through Dec. 31, 2006.
""The funds are there for the long-term stability of the organizations,"" Gassman said.
The grant, which is subdivided between the recipient groups, will be invested and administered by the local trust company, Madison Community Foundation. The member groups can withdraw up to 5 percent of their individual endowments annually for program funding.
Madison Repertory Theatre Managing Director Tony Forman, whose organization received $2 million in matching funds through the grant, said he welcomes the challenge of raising the initial endowments.
""It's a very ambitious goal,"" he said. ""Given the health of the arts in Madison and the health of the Repertory, I think we will make it.\
