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PostPosted: Sat Oct 16, 2010 4:27 pm 
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That seems very, very low. $200,000?

I hope it is for one year.

What is the salary of the executive(s) running the centre? it is probably near that amount annually.


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PostPosted: Sat Oct 16, 2010 6:17 pm 
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Richardv wrote:
That seems very, very low. $200,000?

I hope it is for one year.

What is the salary of the executive(s) running the centre? it is probably near that amount annually.

I think the idea is the cumulative funds raised would go into an endowment style fund where the interest goes to offset operating costs. I'm just guessing. That's what universities do all the time. With this plus what Mattamy gave they're just under 1M. Not too shabby. Wisely invested, the interest they make on that alone would cover a decent full-time librarian position give or take. Given that amount is 2 corporate donations, they go do pretty decently with a groundswell of community support and further corporate donations.

I really have no doubt we'll see similar donations or better when fundraising for the hospital expansion starts.


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PostPosted: Sun Oct 17, 2010 8:29 am 
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Wendy Schau wrote:
Organizations who take up naming rights do not get a charitable tax receipt because they are getting a substantial benefit through of the promotion of their name. All other donors do receive a charitable tax receipt, including for theatre seats, piano keys and donations over $1000 which are acknowledged on the donor wall.
Making a correction to one of my previous posts based on a clarification I received (thanks Wendy!)

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PostPosted: Tue Oct 19, 2010 8:22 pm 
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I asked about the fund itself. And I was mistaken - it's not an endowment fund. It's expected over time after it's established it will bring in more revenue and this fund will offset the initial costs. Here's the response I got:

Quote:
To answer your question, the Investment in the Arts Fund is not an endowment fund. It is designed to be drawn on directly to supplement the operating costs of the new Arts Centre for the first 5 to 10 years of its operation. This will mitigate the impact on taxes and allow for affordable user fees for the local community groups, making it a true community Centre for the Arts. It is thought that as our population continues to grow and the local groups increase in number and strength, the need to supplement the operating costs will decrease over time.


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PostPosted: Fri Oct 22, 2010 1:52 pm 
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Joined: Sat Mar 20, 2010 9:28 am
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and yet no one seems to able to answer the question I posted earlier-
Who has been entrusted to run the operation, and what will his/her salary be?


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PostPosted: Fri Oct 22, 2010 2:17 pm 
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Joined: Mon Dec 08, 2008 10:13 am
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Location: Milton
I believe I saw a posting for that position a while back so perhaps the competition process has not been completed.

here is the link ....

http://www.milton.ca/corpserv/hr/Manage ... ices_(2010).pdf


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PostPosted: Fri Oct 22, 2010 2:25 pm 
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Brian Hawley wrote:
and yet no one seems to able to answer the question I posted earlier-
Who has been entrusted to run the operation, and what will his/her salary be?

Wendy Shau is chair. The campaign team is voluteer. I don't know what her salary is or if she's collecting one, but I'm sure she'd be happy to answer the question.

wendy@schauhaus.ca

http://www.milton.ca/execserv/agendas20 ... Update.pdf


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