Endowment Campaign
The Need
When the new Studebaker National Museum was inaugurated in 2005, the doors of opportunity were not only opened to an incredible new museum experience, but also to a profound new responsibility.
The Museum is housed in a state-of-the-art $9.5 million facility and is home to a priceless collection of classic vehicles plus important artifacts and archives from the golden age of northern Indiana’s manufacturing heritage.
For the record, the Museum is meeting its financial obligations in accordance with its Long Range Business Plan. However, to grow and sustain a high quality of programs, products and services, this endowment campaign is vitally important. Costs continue to increase and stable funding sources are essential.
The incredible generosity of individuals, corporations and foundations helped fulfill the initial dream of a facility worthy of the Studebaker legacy.
Since its opening, many significant achievements have been realized. Membership and attendance have increased dramatically. The Museum has generated supplemental revenue as a meeting/event venue. Special exhibits have appealed to diverse, new audiences and captured greater media attention. In addition, the partnership with the Center for History has not only produced shared staffing and operational efficiencies, but it has created powerful synergies benefiting both museums and the surrounding community.
The challenge is to sustain this momentum and take advantage of even greater opportunities in the future. It will require the efforts and generosity of still more community-minded supporters like those who made the capital campaign successful and paved the way to where we are today.
The Goal
To fulfill this responsibility of stewardship, The Studebaker National Museum has set a specific goal for its Coming Full Circle: The Legacy of Studebaker Endowment Campaign. The goal is to raise $3 million by 2012.
The Studebaker National Museum Foundation, Inc.
In 2006, The Studebaker National Museum formed The Studebaker National Museum Foundation, Inc., an Indiana non-profit corporation whose purposes are to: Solicit funds and accept donations to be invested for the benefit of the Museum and provide income generated through investments to the Museum to perpetuate its growth and continued operations.
Part of The Studebaker National Museum’s long-term solution to financial sustainability is to create a new, dedicated revenue stream that can be used to leverage support from other sources. That can be accomplished with a fully funded Endowment.
Building an Endowment will help the Museum avoid dependence on public and private sources that may be strained.
An Endowment Fund will also contribute to the Museum in the following ways:
- Provide perpetual support to the Museum to enhance and increase educational programming and services for children
- Reduce dependence on public and private sources that may be overstrained
- Mitigate fluctuations in giving or expenses by providing a predictable revenue stream
- Increase the Museum’s financial assets through a greater rate of return
- Assure that operational expenses will be met in perpetuity
- Assist the Museum in being better prepared to accept major gifts of cash, stock and other securities