ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, February 24, 1996 TAG: 9602260019
SECTION: CURRENT PAGE: NRV-1 EDITION: NEW RIVER VALLEY
DATELINE: PULASKI
SOURCE: PAUL DELLINGER STAFF WRITER
The Fine Arts Center for the New River Valley will set up an endowment named for the late Sarah Elizabeth Moore, a long-time supporter who left part of her estate to the center when she died last May 14.
The amount of money for the endowment is still not known; Moore left one-tenth of her estate to the Fine Arts Center.
The center's board voted this month to use the money to establish an endowment, which should help ensure continued operations and programming.
A committee of board members and investment advisers will decide how to best invest the funds for an optimum return.
Moore, who was 95 years old when she died, retired from Appalachian Power Co. in 1965 as a home sales representative. The job, which no longer exists at the company, was like that of a home economist; Moore showed people how new electric appliances could be used in their homes.
She was an active and long-time member of Pulaski Presbyterian Church in America and enjoyed horticulture. In 1993, she became a resident of the Randolph Home for Adults in Pulaski and she lived there until a few weeks before she died.
Jewel Heldreth, manager at Randolph House, recalled that Moore would get mail from correspondents all over the United States.
Michael Dowell, the Fine Arts Center's executive director, said he had never met Moore personally. "I understand that she was a very warm and caring person, and this certainly proves that."
He said she often encouraged others to become members of the Fine Arts Center and to participate in activities.
Dowell has been seeking ways to establish a center endowment since he became director two years ago.
"Organizations such as ours were formed at a time when government, business and industry were very supportive of the arts and were able to help in ways that are no longer possible in today's marketplace," he said. "While the moral support is still strong, especially on the part of business and industry, the competition for a strong bottom line prohibits the financial support that was common in the late '70s and '80s when we began."
The center was formed in 1978 to provide and foster activities, programs and facilities to increase the understanding and enjoyment of fine arts by New River Valley residents. Most of its exhibits, performances and special events are open to the public at no cost.
Center funding comes from individual and business memberships, contributions, and state and federally supported grants which are now being drastically cut.
With an endowment, money set aside and invested for the center can grow and generate interest for operations and programming. As the principal grows, the annual amount of interest available also will increase.
"I hope many people in Pulaski and the New River Valley will take Ms. Moore's action as a challenge," Dowell said. "While her gift to the center is by far the largest ever given by a single donor, it's not going to change our lives overnight. As endowments go, ours is a small one right now."
Contributions to the endowment will be sought.
"We're hoping to buck the national trends," Dowell said. "What's exciting about this is that people can now give to us and actually see their contributions grow."
LENGTH: Medium: 64 linesby CNB