"KU is profoundly grateful to Christina Hixson and the Lied Foundation," Hemenway said. "This gift continues the Lied Foundation's tradition of investing in projects that affect the well-being of humanity."
This month, the Lied Foundation gave $2 million to the KU Endowment Association to create a $1 million endowed research fund at the Medical Center and a $1 million endowment to support performing-arts programming at the Lied Center, KU's center for the performing arts. The foundation will add annual contributions of $100,000 to the Lied Performance Fund for five years. The foundation has stipulated that only the income from the invested principal of the Lied Performance Fund be used for the specified purposes except for two special circumstances.
For the next five years, KU may spend annually as much as $25,000 of the principal for outreach and as much as $75,000 of the principal for programming to provide expendable resources until sufficient income from the endowment becomes available.
Hixson, trustee of the Lied Foundation, said: "From its inception, the Lied Center has been conceived as a performing-arts center for the enjoyment and benefit of all people of Kansas. The center's most important role is to acquaint individuals from all walks of life and cultural backgrounds with the rich and diverse performing-arts experiences that only a grand hall such as the Lied Center can make possible. I am pleased that the Lied Foundation, through this endowment, is able to assure access to world-class performances - especially for audiences who might not otherwise have this opportunity."
In addition, if KU officials are successful at reaching fund-raising goals from other sources, the Lied Foundation has agreed to add up to $500,000 to the Lied Performance Fund and up to $500,000 to the medical research fund.
To receive the additional funds, KU must raise $500,000 for programming at the Lied Center over five years and $500,000 for the medical research fund by Aug. 31, 1996. When the matching funds for these endowments are secured, the Lied Performance Fund will total $2.5 million and the Lied Research Fund $2 million.
"Scientific research is a long-term investment," Hemenway said. "The Lied Foundation's decision to invest in research, as well as its decision to ensure a tradition of high-quality performing-arts programming, is appreciated."