Long Beach Island Foundation of the Arts and Sciences Announces $1 Million Matching Capital Fund

Jul 17, 2019
File Photo by: Ryan Morrill

Loveladies, NJ — Although many things have changed on Long Beach Island over the past 71 years, one has been constant: the Long Beach Island Foundation of the Arts and Sciences. Generations of families have benefited from LBIF’s commitment to the arts and sciences, with its wide range of classes, workshops, exhibitions, and educational programs. Now plans are in place to insure that the LBIF continues to serve future generations.

A $2 million “Perpetual Endowment Capital Campaign” has been launched to provide the LBIF with an endowment to support capital improvements to the LBIF grounds and facilities.

At the annual “Back to Summer Dinner” on June 29, Ken Stein and Sandy Strine announced they would donate up to $1 million to the LBIF to create a permanent capital improvements endowment for the Foundation. All contributions to the fund, regardless of amount, will qualify for matching by Stein/Strine until the $2 million total goal is reached. The campaign is slated to start this summer and run through summer 2020 with a pledge period open through the Foundation’s 75th anniversary in 2023.

Stein and Strine met at LBIF over 30 years ago and married. Their love of LBI extended to a love of the LBI Foundation of the Arts and Sciences. Both are past presidents of the LBIF, and together, in the lead-up to the LBIF’s 50th anniversary, they led a successful $1 million campaign to revitalize its building and grounds. Now, as the LBIF approaches its 75th anniversary, they are establishing a fund that will be dedicated to the LBIF’s preservation.

“The LBIF is the cultural jewel of the Jersey Shore, yet most people who come to Long Beach Island have yet to experience what we have to offer,” said DeBorah Brill, LBIF’s board president. “For Ken and Sandy, the LBIF has been their happy place. This campaign is about ensuring that future generations will be able to make the same discovery. It will enable us to build upon our legacy and carry the LBIF into the future as the region’s cultural and social hub.”

Funds raised during the capital campaign will be restricted to permanently benefit the LBIF, with the principal being used solely to generate income to be used to fund capital improvements.

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