Philadelphia's Kimmel Center Receives $1 Million Endowment Grant from PNC Bank

Classic Arts News   Philadelphia's Kimmel Center Receives $1 Million Endowment Grant from PNC Bank
PNC Bank has announced that it has made a $1 million grant to the endowment of the Kimmel Center for the Performing Arts in Philadelphia.

Interest on PNC's endowment contribution is earmarked for the Kimmel's preschool education programs.

This season, the income from the PNC gift will fund:

- six free Saturday-morning musical performances aimed at low-income children under five;
- the new 'Bop and Swing' program, which brings 45 music and movement classes to urban Head Start classrooms at a local elementary school; and
- 10 scholarships for low-income preschoolers to Temple Universitys Early Childhood Music Program, whose classes are held weekly at the Kimmel Center.

This PNC gift to the Kimmel Center is part of a 10-year, $100 million nationwide investment by the bank in education.

J. William Mills, III, president of PNC Bank in Philadelphia and southern New Jersey, said, "The arts are an important part of early education and children deserve to receive the quality education they need. We are happy to support the Kimmel Center in their dedication to the children of this region, which mirrors PNC Grow Up Great's own goals."

"One study indicates that every $1 spent on quality early education society reaped $17 in long-term savings," Mills added. "In other words, if we improve early childhood education now, we won't have to spend nearly as much money later on other things that contribute little to our economic growth and divert our economic resources. Perhaps even more important, investing in our children is simply the right thing to do for the future economic health of our nation, our state and our region."

Recommended Reading: