The University of North Carolina at Chapel Hill will receive $5 million in matching funds from the William R. Kenan Jr. Charitable Trust to start an endowment for the school’s Carolina Performing Arts Series.
The Chapel Hill-based Kenan Trust will award $2.5 million this year and another $2.5 million once the school has raised $5 million from other sources.
All matching funds must be raised by June 30, 2007, when UNC’s Carolina First comprehensive fundraising campaign is scheduled to end.
A volunteer board will be created to lead the matching fund campaign along with Emil Kang, executive director for the arts at UNC.
Earnings from the endowment will fund the series at the newly-renovated Memorial Hall on the school’s campus.
The series will host more than 40 performances this year, featuring more than 700 artists.