Americans For The Arts – How To Spend $80 Million

In 2001 Americans for the Arts learned it was getting a bequest of between $80 million-$120 million. And what will AFA do with the money? “The first installment in January 2003 topped $3 million, and a comparable cheque arrived last month. The board is handling the funds with great caution. Newly established committees for investment and planning decided to put most of the income into an endowment to extend the value of the donation beyond 30 years, with a target of $100 million.”