Have you heard about Glenbow’s endowment to support free general admission? When Glenbow reopens following extensive renovations, it will be the first major public museum in Canada to offer year-round free general admission for all. This outstanding opportunity is possible thanks to the $25 million JR Shaw Free Admission Endowment.
What is an endowment?
An endowment is a donation of money to a non-profit that is invested, with the resulting interest income earned designated for a specific purpose. In Glenbow’s case, it will be providing free general admission for all.
How does an endowment work to generate income?
At Glenbow, we have investment professionals, known as a chief investment officers, who manage our endowments. They invest the endowments into different types of financial assets to generate returns (based on Glenbow’s investment policies).
How will the $25 million gift support free general admission?
The $25 million JR Shaw Free Admission Endowment will serve to eliminate general admission costs and make the museum free for everyone. The investment income from the endowment will replace the revenue we previously generated through charging general admission.
What happens if the endowment investment loses money?
While short term fluctuations in the market happen (both positive and negative), Glenbow has a long-term view of its investments. Relative performance of our chief investment officers are reviewed on an ongoing basis to ensure we are maximizing the return relative to our risk profile.
Looking ahead, we are so excited to welcome visitors back to Glenbow at the JR Shaw Centre for Arts and Culture when the renovation is completed. The new Glenbow will be a thriving, accessible museum, driving curiosity, creativity and learning for generations to come.