Friends of Murphysboro Legacy Endowment
The Friends of Murphysboro Foundation (FOM) has established the Friends of Murphysboro Legacy Fund to provide a lasting funding source for live music events at the Shell at Riverside Park in Murphysboro, IL.
Grant requests will be accepted for review at least once each year. Additional requests can be reviewed if additional funding remains available. Grants will made to the Friends of Murphysboro Foundation, Inc. Grants can be made to the Murphysboro Park District or another qualifying 501(c)3 as approved by Friends of Murphysboro Foundation, Inc.
Once the fund balance reaches $200,000 grants can be made at the rate of 5% of the fund value per year. Once the fund reaches $250,000, a portion of the granting opportunities can include non-music opportunities, facility repairs and improvements. Friends of Murphysboro Foundation, Inc. may change the goal of $200,000 lower or higher at a later date.
Guidelines for the Friends of Murphysboro Legacy Fund:
The goal is to spend 75% or more of the grant toward live music in the shell. This is to include band contracts, sound, lighting and miscellaneous negotiations centered around live music.
Marketing for the event can be part of the request.
In the event other organizations use this as a grant, their agreement should include giving back money raised proportionately to their overall cost. This money raised shall go back into the Friends of Murphysboro Legacy fund for growth.
If possible, this fund is intended to grow at the same rate as inflation or more. It is intended to provide a source of great talent or popularity beyond the standard in the area.