A SUSTAINABLE FUTURE FOR THE TIMUCUA ARTS FOUNDATION
At Timucua, we believe that attending a show is not just about entertainment, but about creating a
special bond between the audience and the artists. Our intimate living room setting and top-notch
production value provide a one-of-a-kind experience that will be etched in your memory forever. Our
combination of world class artistry and family hospitality make Timucua unique. Together we create
something that can’t be replicated anywhere else – peak experiences at pivotal moments. We are thrilled
to be a part of this incredible community and to have evolved alongside it. The Timucua Arts Foundation
is committed to preserving and advancing this community treasure.
HIGHLIGHTS AT A GLANCE
● The world-class facility known as Timucua was built in 2007 and has hosted over 1,100
public events, plus more than 1,000 recitals, rehearsals, and community events;
● Appearances by 2 MacArthur Fellows, 2 Pulitzer Prize Winners, 2 American Pianist
Awards winners, 4 National Fingerstyle guitar champions, dozens of Jazz Road winners,
Grammy Winners, and legendary artists;
● Timucua Arts Foundation has made in-kind donations to artists of over $1,000,000 in the
form of free recordings to performers;
● Ongoing series include: Jazz, Classical, Guitar, Art & Wellness, Poetry, World Music, and
Theatre.
SUCCESSION PLAN GOALS AND BENEFITS
The Timucua Arts Foundation, Inc. (TAF) Founders and facility owners plan to retire and relocate in 2025.
Therefore, a carefully considered Succession Plan has been produced by TAF leadership. The first action
is to purchase the property from the Founders by 2024 and recruit onsite management to advance the
2021-2025 Strategic Plan by implementing the succession/sustainability elements outlined in this
introduction.
The proposed $2.4M Succession Plan’s goals include the following: property acquisition by TAF—
$1,060,000; launch an initial endowment program — $1,000,000; and establish a contingency reserve —
$350,000. Collectively, these elements are structured to assure TAF’s long-term sustainability.
TAF’s intention to purchase the property qualifies it for two facility acquisition grants. TAF may be eligible
for additional grants to fund facility renovation projects. Ownership of the property also qualifies TAF for
a one-time matching endowment grant of $350,000. TAF is planning to apply for a grant to partially fund
the facility acquisition in June 2023 for $500,000 with the balance of the purchase price to be funded by
campaign contributions from public and private sector sources identified via a feasibility study. TAF’s
campaign to match the acquisition grant launched in January 2023 and will conclude in June 2023.
TAF’s ownership of the facility advances the notion of permanence and is projected to increase income
from all sources, including, without limitation, grantors.
The following graphics provide additional insights into the process and outlines of sustainability
elements.
EXHIBIT I.
This is a tested contingency reserve development model that transitions to growing the endowment. The
model is a low to no cost initiative that has become widely used by the nonprofit sector during COVID. It
is endorsed by funders and grantors alike. The process is outlined in the graphic. It is managed in large
part by policies which enable the temporary suspension and reactivation of the process as influenced by
budgetary considerations. The overall endowment/contingency reserve plan include this model, the
endowment matching grant, and the Endowment Committee outlined in Exhibit II.
EXHIBIT II.
This is a management outline designed to advance the endowment program. The Endowment
Committee administers the initiative and is supported by the Volunteer Endowment Advisory Council.
The program markets, identifies, reviews and secures planned and outright gifts of cash and/or
appreciated assets.
Endowment Council Responsibilities:
● Provide pro bono support and counsel in the program’s development;
● Recommend policies;
● Review endowment presentation and marketing materials;
● Identify prospects (optional);
● Assist in setting appointments (optional);
● Assist with presentations (optional);
● Review and approve deferred gifts;
● Monitor/report changes in tax law.
Endowment Council Expectations:
● Only meets when an endowment activity requires;
● No financial commitment required;
● Evaluate outright/deferred gifts;
● Review marketing materials used to attract outright/deferred gifts;
● Provide counsel to representatives of the donee (optional);
● Agree to have name listed in organization print & electronic materials;
● Participate in orientation sessions where prospective program participants are invited to learn
about tax-advantaged gifts to grow the organization’s endowment.
Return to survey.