Walmart Foundation gives $1.5 million for Walton Arts Center project

FAYETTEVILLE -- The Walton Arts Center's fundraising campaign has received another major financial boost.

Arts center officials announced a $1.5 million grant from the nonprofit Walmart Foundation in a news release Wednesday.

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For more on the Walton Arts Center’s upcoming expansion and renovation project, go to waltonartscenter.org.

Source: Staff Report

The Walmart Foundation has generously supported the arts center since it opened, said Peter Lane, the center's president and CEO, in the news release. "The foundation's participation in this capital campaign represents trust in our future and the future of the performing arts. Together, the Walmart Foundation and Walton Arts Center have worked to enhance quality of life in Northwest Arkansas."

The $1.5 million donation will be put toward the center's $23 million expansion and renovation project, which is expected to begin this summer and last through fall 2016.

The project includes a larger lobby, expanded Starr Theater, more backstage space and new administrative offices.

The foundation money will add to $6.3 million in hotel, motel and restaurant tax-backed bonds Fayetteville voters approved in November 2013 and a $5 million gift from the Walton Family Foundation announced last month.

The Walton Family Foundation is a charitable organization guided by the descendants of Sam and Helen Walton, whereas the Walmart Foundation is the philanthropic arm of the world's largest retailer.

"This grant to the Walton Arts Center will increase community access to the arts, special events, gatherings and educational programming," said Kathleen McLaughlin, president of the Walmart Foundation and senior vice president of Walmart Corporate Affairs, in Wednesday's news release. "Our support of the Walton Arts Center is part of our ongoing commitment to helping our neighbors in Northwest Arkansas live better by increasing access to the arts and recreation, alleviating hunger and improving health care access and delivery."

According to 2014 filings with the Internal Revenue Service, the Walmart Foundation received $169.1 million from Walmart Stores last year and ended the year with $18.6 million in assets.

Major grant recipients in 2014 included Feeding America ($8.9 million); Goodwill Industries International ($7.7 million); American Association of Community Colleges ($4.2 million); United Way Worldwide ($2.6 million); and American Cancer Society ($1.9 million). The Walmart Foundation gave the Walton Arts Center Council $411,680 last year, according to IRS filings.

Erin Rogers, arts center spokesman, said Wednesday officials there aren't ready to disclose total contributions for the expansion and renovation project. But, she added, the center is confident in its ability to pay for the $23 million undertaking.

Lane told the center's board last month nearly $20 million had been pledged. That was before Wednesday's grant from the Walmart Foundation was announced.

NW News on 04/23/2015

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