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Endowment Funds are usualy managed by a Board of Directors funding <br />committee or endowment council. The principal of the fund is placed in <br />trust with a local bank trust officer or investment firm. The annual <br />earnings of the fund are distributed to the benefit of the Entertainment <br />District. Guidelines for this distribution should include: <br />* 1/4 - 1/3 of distribution to local arts organizations to assist them <br />with costs associated with producing in the Entertainment District <br />venues <br />* 1/4 - 1/3 of distribution to the Entertainment District operations <br />budget for house presented productions <br />* 1/4 - 1/3 of distribution to the Entertainment District operations <br />budget for equipment maintenance, replacement and new purchase <br />The South Bend Entertainment District should have a $5,000,000.00 <br />endowment fund in 10 years. <br />-29- <br />