Campaign for NJPAC Exceeds $180 Million Goal Five-Year Quest Raises Over $182 Million for Endowment, Operations, Capital and Reserve

Oct 01, 2009, 18:00 ET from New Jersey Performing Arts Center

NEWARK, N.J., Oct. 1 /PRNewswire-USNewswire/ -- The New Jersey Performing Arts Center announced today the successful completion of its five-year $180 million Campaign for NJPAC, an effort to raise essential endowment, operations, capital and reserve funds for the ongoing vitality of the nation's sixth largest performing arts center. A ceremony commemorating the achievement and honoring 119 major donors is being held today during which a new rotunda floor, designed by founding NJPAC architect Barton Myers, will be unveiled. At release time, a total of $182.7 million was raised.

"The success of The Campaign for NJPAC is just the latest evidence that a shared vision has changed a City and a State, touched lives, and made a profound difference," said Lawrence P. Goldman, NJPAC's President and CEO. "We are deeply grateful to all those who participated, many longtime friends, some at historic levels. Their boundless generosity, especially in difficult economic times, continues to inspire us to do better and dream bigger."

Funds from the Campaign have created an $86.3 million endowment for the Arts Center; supported annual operations for the past five seasons; funded capital improvements to keep the campus "Like New" and created a strategic reserve fund.

The Campaign for NJPAC was led by Arthur F. Ryan, former Chairman and CEO, Prudential Foundation and Chair of the NJPAC Board of Directors, along with the late Andrew T. Berry, Esq., Michael R. Griffinger, Esq., Harold R. Denton and Diana T. Vagelos. An "Attorneys' Campaign," led by Berry, Griffinger and Clive S. Cummis, Esq., Bruce I. Goldstein, Esq., Donald A. Robinson, Esq., Philip R. Sellinger, Esq., and Gary M. Wingens, Esq. raised nearly $1 million toward the overall Campaign.

"As we celebrate this milestone achievement and thank all those who made it happen, we know that our work is never really finished," said Peter H. Hansen, NJPAC Vice President of Development. "The Arts Center will always require both earned and contributed revenue to make possible all of its performances, programs and aspirations. We hope to continue to inspire the generosity of all those who care deeply about the arts, education and community renewal."

SOURCE New Jersey Performing Arts Center