People can enjoy a trip to the theatre for years to come thanks to a cash injection from the Community Credit Union announced Thursday.
Under the deal, The Community Credit Union Marigold Cultural Centre and Cobequid Arts Council will receive $200,000 worth of support over 10 years as well as the name change, money that can also be put into an endowment allowing for federal funds.
“What it will do is give us a future,” said Farida Gabbani, executive director for the Marigold. “If we put money into the endowment, it means that the Marigold will then be able to be in place for your children, grandchildren and in perpetuity.”
The investment announced on June 20 will allow the Marigold and Cobequid Arts Council to expand programs helping young people, such as the Marigold Youth Spotlight Theatre and bursaries for summer camp activities.
Already, young people are benefiting from other investments, allowing them to see shows for just $12 thanks to a previous grant from Toronto Dominion.
But Gabbani said the Marigold was still stuck going “show to show,” and needed more stability, which the CCU.
CCU President and CEO Darrell Kuhn described the partnership between his organization and the Marigold as a “friendship.”
Talks between the Marigold and CCU on this week’s deal began roughly 18 months ago, with discussions between board members from both groups.
“We are ecstatic,” said Kuhn. “For us it’s probably the best fit that there is, just because of why we want to be involved in the community and what this organization does – so it was a no-brainer.”
He said the signs bearing the Community Credit Union Marigold Cultural Centre will be installed over the theatre’s front entrance in the next few weeks.