ABOUT US

MISSION
The mission of the Nebraska Cultural Endowment is to cultivate a legacy of stability, advocacy and leadership for the arts and humanities in Nebraska.

Accountability Governance Corporate Documents

ORIGINS
In the mid 1990’s, a group of community leaders and cultural advocates from across the state joined hands with the Nebraska Arts Council and the Nebraska Humanities Council to lay the foundation for the first cultural endowment in the nation to support both the arts and humanities, the Nebraska Cultural Endowment (NCE).

The idea gained momentum when advocates engaged state legislators in a conversation that culminated in the passage of Legislative Bill 799 in 1998. Sponsored by state Senator LaVon Crosby, LB799 established a state fund managed by the State of Nebraska for the benefit of the Nebraska Arts Council and the Nebraska Humanities Council. Income from the state fund is available to the two Councils when a contribution from private sources is made to the Nebraska Cultural Endowment, a private 501 (c) (3).

Ten years later, in 2008, Omaha philanthropist Richard Holland initiated another dialogue between cultural advocates and the state legislature. Holland was interested in maximizing his contribution toward a personal fundraising goal for the arts. The Nebraska Cultural Endowment responded to Holland’s challenge by returning to the state legislature requesting an increase in the State fund established by LB799. Co-sponsored by Senators John Nelson and Lowen Kruse in 2008, LB1165 provides for the addition of $5M to the State fund if the Nebraska Cultural Endowment raises an equal amount from private sources.

Following the passage of LB1165 last year, the Nebraska Cultural Endowment embarked on a five-year, $5M fundraising campaign to leverage the $5M public match. In 2008, the Cultural Endowment raised the first $1M. The Cultural Endowment’s immediate goal over the next four years is to raise the remaining $4M. If successful, the Nebraska Cultural Endowment’s $5M campaign will serve to double the private fund and increase the state match fund two-fold, creating side-by-side $10M funds, one private and one public, to support the arts and humanities in Nebraska.

In partnership with the State of Nebraska, the Nebraska Cultural Endowment provides vital and long-term resources for educational opportunities in the arts and humanities in communities across Nebraska.

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ACCOUNTABILITY

Philanthropy is a voluntary action or activity that promotes the well-being of mankind. It is a tradition of giving and sharing that is primary to the quality of life. To ensure that philanthropy merits the respect and trust of the general public and that donors and prospective donors can have full confidence in the Nebraska Cultural Endowment, the board of directors of the Nebraska Cultural Endowment declare that all donors have these rights:

To be informed of the Nebraska Cultural Endowment’s mission, of the way
the Cultural Endowment intends to use donated resources, and of its capacity
to use donations effectively for their intended purposes.
To be informed of the identity of those serving on the Nebraska Cultural
Endowment’s governing board and to expect the board to exercise prudent judgment
in its stewardship responsibilities.
To have access to the Nebraska Cultural Endowment’s most recent
financial statements.
To be assured their gifts will be used for the purposes for which they
were given.
To receive appropriate acknowledgement and recognition.
To be assured that information about their donation is handled with
respect and with confidentiality to the extent provided by law.
To expect that all relationships with individuals representing organizations
of interest to the donor will be professional in nature.
To be informed whether those seeking donations are volunteers,
employees of the organization or hired solicitors.
To have all personal information held in strict confidence and not shared
with other organizations or individuals.
To feel free to ask questions when making a donation and to receive
prompt, truthful and forthright answers.

The NCE board of directors is fully engaged in supervising the Nebraska Cultural Endowment’s financial matters. Performed by certified public accountants, the Nebraska Cultural Endowment’s annual audits are based on the current best practices and generally accepted accounting principles and requirements of the Financial Accounting Standards Board. An investment firm, selected by the Nebraska Cultural Endowment board of directors, manages the Endowment’s investments. The Audit, Finance and Investment committee meets quarterly to review the administrative budget, Nebraska Cultural Endowment financials and investment portfolio. The board of directors developed and approved a “Gift Acceptance Policy” and an “Investment Policy” that guide board decision making in accepting and investing contributions for the intended purpose.