Citizens surprises Grand with big donation for endowment fund
NEW ULM — An early Christmas gift was given to The Grand Center of Arts and Culture Friday night. Citizen’s Bank donated $25,000 to The Grand’s Endowment Campaign.
The donation was surprise gift. Citizen’s Bank President Lou Geistfeld announced the donation during musical event at The Grand. The donation came as a big surprise to Grand Director Anne Makepeace and the Grand’s board members.
In June, the Grand has begun a capital campaign to raise $1.5 million for their endowment. With this base amount the grand will be able to pay for annual programming through interest generated. An anonymous donor has already promised to match any donations up to $125,000. Makepeace said with this latest donation the Grand is $160,000 from reaching its goal.
Geistfeld said Citizen’s decided to donate to The Grand because the Art Center is a major community asset not just for New Ulm but other communities. He said every weekend the Grand draws people from other communities including St. Peter and Mankato.
“Most communities don’t have a venue like this,” Geistfeld said.