The Plant City Photo Archives and History Center hopes to raise $100,000 within a year for its newly created endowment fund.
Businessman Ed Verner, president and founder of the nonprofit, said the endowment will be for the organization’s “future use and financial stability.” Verner and Executive Director Gil Gott announced the endowment campaign to the archives advisory committee at a recent meeting.
An anonymous donor helped kick off the campaign with a $5,000 check.
Gott said the endowment fund is restricted and would not be used for day-to-day operations. Shares of the endowment fund are $100 each.
Investors will be issued certificates indicating their investment level and they will be invited to complimentary special events to be held for the Endowment Investment Club.
Endowment funds are normally used for any dividends or interest they may generate, but they are also used by granting agencies or entities as evidence of a non-profit organization’s sustainability. Organizations without strong finances are less likely to qualify for program or operational grants.
For information on the endowment campaign, call the archives at (813) 754-1578.