- April 26, 2025
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There are philanthropic campaign efforts for capital projects by non-profit performing arts and cultural organizations in and around the city of Sarasota, adding up to $900.5 million in needed giving to make bring them to fruition.
Breaking it down, there are plenty of projects to go around:
Much of those funds has already been raised, most notably $110 million by Selby Gardens, $60 million by Sarasota Orchestra, $45.6 million by Florida Studio Theatre and $65 million by the Bay Park Conservancy, but with those dollars already given and the need for some $619.9 million more, it begs the casual observer to question whether there is enough largesse in a non-metropolitan market to fund all them all.
The answer is yes, according to leaders of the organizations who describe Sarasota and the surrounding area as an epicenter of generosity with a unique distinction.
According to Sarasota Opera General Director Richard Russell, an onlooker to the flurry of fundraising activity, Sarasota possesses a giving base unlike any other area in Florida.
“This is a community of a lot of retirees, and in conversations that I've had with others throughout the state, Sarasota is special in that our retirees, when they come down here, many of them either move their philanthropy or make significant philanthropic investments here that they don't necessarily do in other places in Florida,” Russell said. “I think of Palm Beach as an example. They view themselves as snowbirds. They make some philanthropic investment in Palm Beach, but they maintain their philanthropy in the places they come from.
“Here, we have people who really come to this community, see the uniqueness of the community and decide to make their philanthropic investment here. You don't see that as much other places as we see it here.”
Although there is some degree of organizational crossover among local arts and cultural benefactors, Russell said each has its own support base that comprises the majority of their individual giving. Professionals, who manage all of them, do the groundwork to ensure the capacity is there before embarking on aggressive growth plans manage.
A $60 million anonymous gift to the Sarasota Orchestra, he said, is such an example.
“I think a lot of people in this community are saying, ‘Wow, I didn't know that was out there,’” Russell said. “They did their homework. They knew that they could get that kind of gift. I think too many people would underestimate what's out there, what the capacity is that we have.”
That capacity will be tested by the following:
Because the new Music Center is still in the design phase, the Sarasota Orchestra has yet to set its capital campaign goal, but early estimates are the facility on 32 acres it owns on Fruitville Road just west of I-75 will cost $375 million to $425 million.
Said President and CEO Joseph McKenna, “Sarasota has a storied legacy of supporting the arts and fostering community through enriching cultural experiences. These experiences are among the many reasons more people are choosing to call our region home. As we and our peers expand to keep up with the community’s rapid growth, we are confident philanthropic support will grow with us and the region’s passion for the arts.”
The second of the two most significant, to some extent somewhat similar, performing arts facility efforts, the SPAC is a public-private effort of the city of Sarasota — perhaps Sarasota County — and the Sarasota Performing Arts Foundation. In the conceptual design stage, that project is now estimated at $407 million. Located within The Bay park, the project is eligible for a 50-50 cost split, meaning the Foundation is on the hook for raising $203.5 million in a capital campaign that has yet to begin.
Presuming approval of an implementation agreement in March, the city, and if it participates, the county, would provide the public share via tax increment financing district revenues on taxes on improved property values within the district surrounding and near The Bay.
“Sarasota has a long history of philanthropic generosity — particularly toward arts and culture — and continues to attract high-net-worth individuals who recognize the value of investing in cultural institutions,” said Foundation CEO Tania Castroverde Moskalenko. “Each of the campaigns appeals to different donor interests, reducing direct competition for the same dollars. I firmly believe that a high tide lifts all boats, and approach fundraising from a place of abundance, not scarcity.”
Also just getting started, and on the other end of the cost spectrum, the Sarasota Players have initially estimated it will need $2.5 million — which is subject to change — to renovate and freshen up Payne Park Auditorium for its productions and to serve as a home to various smaller performance organizations in the area.
“I have no doubt that our project and all the others will be successful due to the combination of the philanthropic generosity in this community, our status as the arts capital of Florida, and the overall economic impact of arts and culture in this community,” said CEO William Skaggs.
The Sarasota Players have yet to launch its capital campaign.
Having raised $46.5 million of $57 million needed to build the McGillicuddy Arts Center adjacent to its current facilities, CEO Richard Hopkins takes a somewhat contrarian view. Raising the capital for the project, he said, wasn’t easy.
“I know that it has been hard for us,” Hopkins said. “Each organization has its own circle of funding. I think the biggest competition will be between SPAC and the Orchestra. They are both mammoth projects. The Orchestra is clearly in the lead. They have their property, seed money and no push-back. They are independent and not asking for taxpayers to foot the bill.”
Selby Gardens completed the first phase of its three-phase Master Plan and raised more than $110 million, 99% from private philanthropy. The budget for Phase 1 and the underway Phase 2 is $112.5 million, but has not been established for Phase 3. It is raising additional funds for endowment and operations.
Meticulously navigating the public-private venture landscape while bringing in all projects on time and at or under budget, the Bay Park Conservancy is in its second phase of redeveloping 53 underutilized city-owned acres into a green gathering space that doubles as a stormwater purification system.
Estimated at a total of $200-plus million — its share 50% of that total — the BPC has raised $50 million in private contributions and $15 million in government grants to add to $9 million in city capital, $48 million in tax increment finance district-backed city bonds for Phase 2, evenly divided between the city and county. The combined endowment and cash reserves goal will be $30 million to $40 million by the time the park is completed
The Bay is generally regarded as a model for public-private ventures, led since its inception by Founding CEO AG Lafley in a volunteer capacity.
