Sunday, March 14, 2010

$1 Million Gift to Park

The recent gift to the Central Park Conservancy, reported by the West Side Independent news, to replace trees lost in a storm is an example of the type of generosity accompanying the nonprofit management and fundraising of parks.

Donors will generally not give that type of a gift to government-run park facilities due to uncertainty about it being devoted to the donor’s desires, but with a nonprofit that has built a reputation for independence and park dedicated management and spending, plus the federal laws governing donor intent, pretty much ensure a level of comfort in making large gifts.

This could be the future for the Parkway if the Joint Powers Authority—already being discussed by local leadership—comes into being, and creates a nonprofit organization for Parkway management and fund raising, as we’ve written about in postings to our news page and as part of our strategy at the strategy page on our website.