CHARLOTTE – Foundation For The Carolinas inched closer to its goal to raise $18 million from the private sector in support of local arts organizations, thanks to new commitments from Deloitte, Nucor, Premier and Wells Fargo.
The $1.2 million in combined commitments take the campaign to $16 million, or nearly 90% of the $18 million goal. This will match $18 million in City of Charlotte funding for a total of $36 million over three years.
New commitments to the fund include $300,000 from Wells Fargo and $100,000 from Premier.
Deloitte, Nucor and a number of individual contributors also gave to the fund.
They join earlier commitments from the Albemarle Foundation, Ally Financial, Atrium Health, Bank of America, Barings, The Centene Charitable Foundation, Childress Klein, Coca-Cola Consolidated, Duke Energy, JELD-WEN, Moore & Van Allen, National Gypsum/C.D. Spangler Foundation, Novant Health, PwC, Red Ventures, Rodgers Builders, Trane Technologies and Truist.
“We take a great deal of pride in supporting our local communities, including the cultural sector,” said Mary Mack, CEO of Consumer and Small Business Banking for Wells Fargo. “Our goal is to help build strong and vibrant communities, improve the quality of life and make a positive difference.”
The fund will support numerous cultural nonprofit organizations that, combined, have an audience participation of residents and visitors of more than 2 million per year. Charlotte’s cultural sector employs thousands of full-time workers and generates an annual economic impact of $360 million.
“A vibrant cultural sector is important for the quality of life and economic health of the Charlotte region,” said Leon Topalian, president and CEO of Nucor Corporation. “Arts organizations were hit hard by the pandemic, making the financial support of the business community and the city of Charlotte vital to their continued success.”
Once the $18 million private sector goal is reached, the city plans to double its current level of public funding for arts, science and history organizations. Together, an annual grants pool of $12 million in public/private dollars will help revive and sustain cultural organizations devastated by $50 million in lost revenues suffered during the pandemic.
A citizen-led grantmaking board will be created with a split of City of Charlotte and private-sector appointees to distribute these resources.
“The pandemic affected every aspect of our communities, including the arts,” said Mike Alkire, president and CEO of Premier. “Premier is committed to helping ensure a healthy recovery in Charlotte, and we are pleased to support a vibrant and diverse culture that supports artistic expression.”