What is the mission and purpose of Canopy Studio?
Canopy Studio is a 501(c)(3) non-profit dedicated to enriching the culture of our community and the lives of individuals through aerial dance, movement education and performance arts. Canopy is a resource for local artists and all individuals, regardless of background, age, or physical ability, providing instruction in movement arts and a much-needed live performance venue in North Georgia.
What is the Athens Area Community Foundation or AACF?
What does Canopy have at the AACF?
We established a Quasi – Endowment with the AACF with the purpose of supporting Canopy’s Outreach Program for the long term. A quasi endowment is different from a standard endowment in that Canopy can draw down the principle if we ever need to, a traditional endowment is invested and the organization can only have access to the dividends.
What is the intention of this quasi- endowment arrangement?
Canopy’s fund will be invested by the AACF as if it was a standard endowment by the team at Meryll Lynch using the guidance of the AACF Board of Directors, this is a moderate risk portfolio that has historically had 8-12% return on the investment. We have set up a schedule where the AACF will release 4% of the fund’s value annually to fund the efforts of Canopy Studio Outreach Program, this will allow us to budget for the program each year. The intention with quasi arrangement is that the principal can serve as a safety net but will not be accessed regularly. If we ever need more money for an emergency expense, then our board of directors, by 75% vote, can withdraw more than the annual 4% to support Outreach efforts.
How was this fund started?
On October 29, the community lost an incredible woman, the mother of Canopy’s Executive Director, Alice Woodruff. Three days before receiving her diagnosis and entry into hospice Alice started the process to set up the Canopy Studio Fund for Outreach Support at the Athens Area Community Foundation. Her intention was to see a fund to support the work of her daughter for decades to come. Canopy’s outreach program covers many facets with one goal – ensuring everyone has access to the aerial arts. Programming includes providing lessons or additional support for those with disabilities, financial aid, adapted field trips for self-contained classrooms, free performances in and outside the studio, afterschool programs, and more.
How can I give?
This is the direct link. Donors can also send checks to Athens Area Community Foundation PO Box 1543, Athens, GA 30603. Gifts of stocks, bonds, real estate and planned giving opportunities are welcomed, please allow Ann to facilitate this with a staff member at the AACF