Fundraising
Your gift will help to build a world-class, 2,000-seat performance facility in downtown Bellevue, which will offer Eastside residents the opportunity to enjoy top regional, national, and international artists, close to home for the first time. The addition of PACE will bring economic, cultural, and educational advantages and enrich the quality of life on the Eastside. Campaign For PACE is the largest of its kind ever undertaken on the Eastside—one of the most affluent, diverse, and highly educated regions in the country, equivalent in size and population to many of the top 50 cities in the country, including Albuquerque, Tucson, Omaha, and Sacramento. With the rapid expansion of the Eastside population there is a growing need for a major cultural resource, such as PACE, which will provide a focal point, a sense of identity, and the cultural heart and soul of our community. Professional market studies have shown that people are tired of dealing with bridge back-ups, traffic snarls, parking hassles, and issues of personal security. Eastsiders are demanding convenient access to high-quality entertainment on the east side of Lake Washington.
Campaign Goal
The Campaign goal of $160 million includes $8 million in land; $11 million in design and engineering; $114 million in construction costs; $2 million in furnishings and equipment; $6 million in soft costs; $9 million in fundraising and administrative costs; and $10 million for an endowment, which will help generate additional income reserves for PACE for years to come.
PACE is a start-up organization—this is a grassroots effort to build support and create awareness about the value of PACE to the community. The backbone of our Campaign has taken time to form and now includes our Board of Directors, Campaign Cabinet, Act One Guild, Act Two Guild, Ambassadors For PACE, Parties For PACE hosts, early donors, and many friends. We will rely on the participation of both the private and public sectors to reach our goal.
Our immediate objective is to raise $120 million of our $160 million goal to begin construction. Our Honor Roll of Donors illustrates the growing support for PACE, and we are extremely grateful for their early gifts which are critical to building momentum and confidence in the project. It also reflects 100% giving by the Board of Directors, including the gift of land, purchased for $8 million by Kemper Development Company in 2001 and donated to PACE the same year.
Fundraising Underway
We now have all the important pieces of the project in place and we are aggressively moving forward with fundraising. PACE has hired an experienced and accomplished Executive Director and CEO who will build, open, program, and manage PACE. We have a highly respected Board of Directors and Campaign Cabinet with exceptional business expertise and experience in Eastside fundraising to lead the way. The Campaign Co-Chairs are now recruiting community and corporate leaders to our Campaign to assist with fundraising. We have two guilds with a combined membership of more than 60 women who, through their annual activities, raise funds and increase awareness about PACE. And PACE has a talented and skilled professional development staff and consulting team to support the efforts of our key volunteers. The Campaign For PACE is underway with Grand Opening planned for 2011.
We would welcome your involvement. If you would like to discuss ways of giving to PACE, please contact us, and our development staff can work with you—and, as appropriate, your advisors—to create a plan tailored to meet your needs.