FISH CREEK – Northern Sky Theater is launching a capital campaign after receiving a $500,000 challenge gift from anonymous donors.
The Burn the Mortgage – Build the Bridge campaign aims to retire the balance of its construction loan debt and start a self-managed endowment to ensure the company’s long-term sustainability.
The construction loan debt portion of the challenge amounts to $175,000. When those funds are matched, the company will have raised $350,000 to be applied directly to the mortgage on the creative center built in 2019.
The remaining goal of the company’s campaign, $325,000, once matched, will allow Northern Sky to seed a self-managed endowment with a beginning balance of $650,000. Essentially, building the “bridge” to the company’s future.
Northern Sky has already taken steps to establish this new endowment by creating an endowment trust document and electing a board of trustees. Trustees are Susan Caldwell, Bob Ling, Mike McCoy, Daniel Myers, and Jeffrey Rosemann.
“While this opportunity came as a wonderful surprise to Northern Sky, we recognize that this campaign is the next step in our journey to become the mature institution that will weather anything the future holds,” said Holly Feldman, associate managing director. “We are grateful to our anonymous donors for their ingenuity and for allowing their gift to inspire others to join them.”
Northern Sky Theater’s Burn the Mortgage – Build the Bridge Campaign has already reached 50 percent of its $500,000 goal.
The company is offering naming opportunities at both the amphitheater in Peninsula State Park and at the Gould Theater.
Donors at the $1,000 level will be able to name a seat in the new Gould Theater. Donors at the $2,000 level will be able to name a bench at the company’s outdoor amphitheater. At the $5,000 level, donors may choose to add their names to the donor wall in the Gould Theater lobby. Donors may choose to name in memory of a loved one, or in honor of a family member or friend. Benches, seats and donor wall spaces are limited. Naming will be on a first-come, first-served basis.
Donations can be made at https://northernskytheater.com/bmbb-campaign/.
For more information, call Holly Feldman at 920-633-3228.
