Donor gives Mount $300K
Donor gives Mount 300K - The Mount
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<strong>Donor</strong> <strong>gives</strong> <strong>Mount</strong> <strong>$300K</strong> - Berkshire Eagle Online<br />
1/18/11 7:19 PM<br />
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<strong>Donor</strong> <strong>gives</strong> <strong>Mount</strong> <strong>$300K</strong><br />
Berkshire Eagle Staff<br />
Updated: 01/15/2011 10:33:22 PM EST<br />
Sunday January 16, 2011<br />
LENOX -- Thanks to a surprise $300,000 gift from an anonymous Berkshire County benefactor, the pressure has eased<br />
slightly for The <strong>Mount</strong> to meet a May 31 deadline for payments of $1 million to two major creditors, primarily Berkshire<br />
Bank.<br />
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The Friday-afternoon announcement by Susan Wissler, executive director of the Edith Wharton Restoration, credited<br />
recent news coverage of the nonprofit organization's plight for helping attract new support.<br />
If fundraising can continue at its current pace, she added, most of the $300,000 can go toward paying down debt, while<br />
the rest covers operating expenses. "But we can't sit back on our haunches, we have to keep raising money," she<br />
emphasized.<br />
What Wissler described as a "pretty ambitious fundraising target" of $50,000 to $100,000 a month is necessary following<br />
a two-month, year-end appeal that drew $350,000, including more than $150,000 from members of the Board of<br />
Trustees.<br />
The <strong>Mount</strong> continues discussions with prospective new lenders or a partner to share the historic site and cultural center.<br />
"But we're not dependent on finding that partner imminently, there's not as much urgency," said Wissler.<br />
The donor wrote a letter to Wissler last week expressing appreciation for her "candid appraisal and openness" in the<br />
Eagle's article last week but also voicing concern over the $1 million principal repayment The <strong>Mount</strong> faces in May.<br />
In a subsequent conversation, Wissler said,<br />
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the donor cited "her great admiration for Edith Wharton's<br />
writings and many other accomplishments and her deep<br />
love of The <strong>Mount</strong>, which she regards as a national<br />
treasure."<br />
The Berkshire County donor also conveyed hope that<br />
her gift will prompt others to step in.<br />
Assuming the $1 million in repayments are made by<br />
May 31, the organization must pay $4.2 million to retire<br />
its remaining debts in May 2014, unless an investor or<br />
partner can be brought in to take over the financial<br />
obligations.<br />
"While financial challenges remain," Wissler said, "the<br />
positive momentum is undeniably building. This major<br />
gift is another proof that we are headed in the right<br />
direction."<br />
While the famed author's estate, a National Historic<br />
Landmark, remains available for private tours during the<br />
winter, the prime season for an average of 30,000<br />
annual visitors is six months long, beginning in May.<br />
Meanwhile, the organization focuses on the annual Edith<br />
Wharton Writing Competition and two scheduled poetry workshops in March.<br />
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<strong>Donor</strong> <strong>gives</strong> <strong>Mount</strong> <strong>$300K</strong> - Berkshire Eagle Online<br />
1/18/11 7:19 PM<br />
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guest 01/16/2011 07:48 AM<br />
Although you mention the poetry workshop and writing competition at the end of the article, people may not realize<br />
that an active educational and cultural program continues at The <strong>Mount</strong>. The organization has a strong focus on<br />
helping local teachers to teach writing, and encouraging Berkshire area students to produce fine prose and poetry. I<br />
believe Mrs. Wharton would be proud that such useful and soul-nurturing work is conducted under her banner.<br />
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<strong>Donor</strong> <strong>gives</strong> <strong>Mount</strong> <strong>$300K</strong> - Berkshire Eagle Online<br />
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<strong>Donor</strong> <strong>gives</strong> <strong>Mount</strong> <strong>$300K</strong> - Berkshire Eagle Online<br />
1/18/11 7:19 PM<br />
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