The McCormick Arts Council (MACK) to receive $2.6M in Combined Gifts

The McCormick Arts Council (MACK) to receive $2.6M in Combined Gifts

Local foundation to generously invest in Capital and Educational Fund

MCCORMICK, SC –  The McCormick Arts Council (MACK) announced a major foundation gift and development project. This milestone is a major moment in the timeline of the MACK’s service to our community and its mission to provide art, culture, and education to the region.

“We are very fortunate to have received an official announcement that the MACK will directly benefit from a combined charitable gift of $2.6M. This is an incredible opportunity to continue our efforts to serve our mission for the next 35 years!”

~Heather McNally, MACK Director of Programs and Development

To confirm, the MACK will be receiving $1.1 million specifically for the purpose of capital improvements for The MACK Rehabilitation Project.

Purpose. It is understood and agreed that the gift will be used for the following purpose or purposes: To fund the MACK Rehabilitation Project and establish a capital fund from which the annual interest earnings will be used to address the annual maintenance/capital plans and needs.

To also confirm, the MACK will be receiving $1.5 million specifically for the purpose of establishing an educational fund, with an established investment committee to yield approximately $50,000 annually to continue our scholarship and investment in youth programming.

Purpose. It is understood and agreed that the gift will be used for the following purpose or purposes: To establish a MACK educational fund for the purpose of providing an annual scholarship program. This scholarship program provides financial aid to graduating seniors from McCormick and Abbeville counties and will continue to reflect the donor’s intentions to develop student’s awareness in the importance of problem-solving, creativity, and communication. The MACK agrees to distribute $35,000 annually.

Purpose. It is understood and agreed that the gift will also be invested and used for the additional following purpose or purposes: To provide annual funds to support the continued development and continuation of quality youth programming.  Additional funds that are generated through investment and interest earnings will support the annual needs of MACK’s youth programming plan. The intention is to assist local students to ensure access to quality programming and cultural opportunities. The MACK will take the responsibility to plan, manage, implement or provide partnerships to ensure artistic, cultural, and educational programs are available to our youth community.

The Historic Keturah Hotel was deeded to the McCormick Arts Council through approved ordinances under the leadership of our Board Chair, Bob Berry, and required the MACK to use the building “to provide art, culture, and education to the extended community” and “maintain the property in good condition,” according to the title transfer from the town. This process allowed the MACK to independently proceed with the necessary steps to ensure we are able to serve as a safe, accessible, and fully functioning site for our community members and visitors.

“My intentions are to give locally, providing crucial support especially in the area of students’ needs.  I was fortunate for my unique opportunities, and with hard work and an ability to problem-solve, was in the position to help others.”

~ John Yoder, Yoder Rosenberg Family Foundation

This gift shares the name with the Rosenberg Family of Abbeville, SC. John and Jenny shared a special relationship and were both fortunate to be able to consider their intentions to support their shared communities. These gifts will impact generations to come and we are honored, humbled, and grateful to be able to serve our community to provide accessible and affordable cultural experiences and quality programs.

While this is wonderful news … these are very big announcements and we have quite a bit of work to do. These gifts are generous and will certainly positively impact our organization for generations to come, however, they are restricted for specific purposes and will be invested to allow the MACK to uphold their legal agreements with the donor. This means that we will be able to make the essential building investments and offer the annual scholarship for years to come, but we will still need to provide for our annual operating budget. Our goal is to share and celebrate this incredible gift with our members, community and various stakeholders. What a wonderful way to end a very unusual year!

For additional information regarding this announcement, please contact Heather McNally or the MACK directly.

Heather McNally
Director of Programs & Development
The McCormick Arts Council (MACK)
www.mccormickarts.org
mccormickarts@gmail.com
(864) 852-3216 (Office)
(864) 602-0331 (Direct)
PO Box 488 / 115 S Main Street
McCormick, SC 29835

Art changes lives!