Margaret and Rufus Honeycutt Make Donation Creating the Arts Development Fund
April 7, 2008 - "We are delighted to announce that the Greater Round Rock Community Foundation has accepted the Arts Development Fund", stated Nancy Rabb, Chair of the Foundation. The mission of the fund, created by Margaret and City Council Member Rufus Honeycutt, is to assist non-profit organizations in promoting fine arts and cultural events that enhance the quality of life for Round Rock citizens and visitors and preserve our cultural heritage.
"My wife, Margaret, and I are excited to be able to provide a seed that hopefully will flourish into arts and cultural events offerings being more available within the Round Rock community. Appreciation of the arts and celebration of cultures with historic ties to the heritage of our community promote civility to our children and ourselves."
The Honeycutts made an initial donation of $15,000. Since they have endowed the fund, only the income from the Fund will be distributed; the capital will remain in the fund in perpetuity. "That is the beauty of the community foundation formula," Rabb added.
Currently, the City of Round Rock dedicates a portion of the Hotel Occupancy Taxes collected each year to events and arts support. The fund will now allow individuals and businesses to make tax exempt contributions to the cause as well.
Because the Honeycutts established a Donor Advised Fund with their gift, they will make regular recommendations on how the fund is used, working with the community foundation's grantmaking staff to target areas of community need within the fund's field of interest.
The Greater Round Rock Community Foundation is a registered charitable public foundation that assists donors by helping them support the charitable causes and projects that are important to them. By working with donors to create endowed funds, the Greater Round Rock Community Foundation helps to ensure sustainable funding that will last forever meeting the needs of a changing and dynamic community.
For information on contributing to this fund or creating your own fund, contact Kami Barron at 255-5805 or at kami@rrcommunityfoundation.org. For more information see the Foundation's website at www.rrcommunityfoundation.org.
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