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7/3/2007
Wow. Large insurer pulls arts funding
Wow again. FoxPolitics News readers woke up last Friday to the headline “Thrivent pulls support from arts community.” Those in the know (well, apparently, most of us were not “in the know” at all!) were shocked.
From Friday’s mail:
7:58 a.m.: “Jo, I just read that article with great interest!!! [and then some unprintable stuff…]
8:51 a.m.: “I wonder what folks like [Walter] Rugland are thinking today. Certainly the PAC is affected by this and if not why not??? Frankly I can’t see how this new approach makes sense since employees and the community they live in here in the Fox Cities is not represented by this new direction. Historically corporations give locally as a way to satisfy and recruit quality employees. Total disconnect now!!!”
9:51 a.m.: “Jo, the Thrivent announcement regarding support of the Arts was a shock – but certainly not surprising…. I admire Thrivent for what they are doing – it is a very bold move on their part.”
1:17 p.m.: “…appalling news from Thrivent. Not that we didn’t see it coming from the merger – sell out – to Minneapolis. But when the real, almost triumphant headline is printed, it hurts really badly…. Thrivent should be ashamed and embarrassed at itself…. At least they had the good sense to communicate with the arts groups – some of them anyway – before the headline.”
5:45 p.m.: “Has the PAC been such a money pit that Thrivent had to find a way to get out?”
Next day: “What does Oscar Boldt think about this? – the man who has made it his business to educate corporate executives in their commitment to the community…”
Well, suffice it to say, last week’s Thrivent announcement was big news.
Friday’s announcement, via the Post-Crescent, indicates “Thrivent is changing the way they’re granting funds based on how it fits with our mission, vision and values. ‘Thrivent will grant funds only to nonprofits that ‘fall under the umbrella of economic self-sufficiency,’ or groups dedicated to homelessness, poverty and early childhood education.”
Wow again and again. Hundreds of thousands donated just in the past year to Fox Cities arts groups, not the least of which is the Fox Cities Performing Arts Center (PAC). It was Thrivent’s pre-merger predecessor, AAL’s contribution of $8M that jump-started the PAC’s construction. In the most recent PAC Annual Report (2005-06), they are listed as a “Leader” donor, i.e., a contribution of $100,000 or more.
So why?
1. Product sales aren’t dreadful, but aren’t going great guns. Investment performance has been uneven relative to peer group benchmarks. Investment management fees are comparatively high.
2. Congress is looking for new income anywhere it can find it. The tax exemption fraternals (e.g., Thrivent) enjoy is being attacked with a vengeance. The National Fraternal Congress of America has been defending its very life’s blood with the same vengeance. Perhaps funding programs that lead to economic self-sufficiency are thought to be closer to Thrivent’s mission as a fraternal - ?
3. Well, Thrivent’s headquarters is now in Minneapolis; Thrivent as a donor to the arts may be a significantly smaller cog in the big city than they are in the Fox Cities. Did Minneapolis have a bigger say here?
Hopefully Thrivent will be more forthcoming in coming days with the answer to the “Why” question. Hopefully too, we’ll learn of the total impact to the arts on the Fox Cities and Wisconsin.
Next week: How must our community respond
COMMENTS
Yes, we should have seen the abandonment of Appleton interests by Thrivent. I was in favor of the merger, but I have been saddened by the numerous Lutheran Brotherhood-favoring decisions over the years.
I recall Bob Buchanan's prediciton right after the merger -"the power will be where the corporate office is located". He was right! Lutheran Brotherhood had everything to gain by the merger. AAL could only lose and the AAL members have.
LB wanted to be under the Wisconsin Insurance Code. So Thrivent is domiciled in Wisconsin while the corporate offices are in Minneapolis. I have told both John Gilbert and Bruce Nicholson that it wasn't a merger of equals but a merger of a strong organization with a weaker one (LB), and the weaker one won out. LB MANAGED TO TAKE OVER AAL WITHOUT A FIGHT.
I can't understand how John Gilbert, Wally Rugland and the former AAL directors let that happen. Bruce Nickolson must be one hell of a salesman. He surely did well for the LB members who had some problems to overcome, at the expense of the successful AAL programs like the great branch system, great agents who wouldn't sign the contract LB insisted on to solve their own field problems.
I won't go on further but after spending 40 years with a great organization that just doesn't exist anymore, I am VERY SAD.
Henry Scheig (Tue Jul 03 08:10:32 2007)
There is nothing good about this decision. The arts are not tradable for social causes, no matter how noble the latter. Indeed the arts should be partnered with those social causes for their enrichment capabilities. The arts are basic to the quality of life in a community; they are essential to one's soul.
I am fearful of a possible "ripple effect" as so many others in the corporate community have modeled their giving policies after Thrivent, the so-imagined "big one." (For me they are "big" no longer.) I certainly hope the businesses of the Valley will see the error in Thrivent's decision and will stay their own courses.
Two questions for now:
1. Why didn't this company declare their horrible new policy with a two- or three-year effective date? The short notice adds insult to injury.
2. Why should a fraternal organization be tax exempt anyway? Alot of good it is doing now.
How can this company possibly say they are "listening to their community", as stated in Friday's article??
One more indication that Appleton is - and will continue to be - the sacrifical lamb for this company. What has this community ever done - in more than 100 years - to deserve the continuing ignorance of Thrivent's decision-makers?
Lee Parker (Tue Jul 03 09:09:10 2007)
I do not have a problem with their bold move, providing they have not changed their overall committment to the community. There are many good charities that help the poor of our area.
Ken Romenesko (Tue Jul 03 09:17:32 2007)
Hi Jo,
I strongly disagree with the comments of some of your readers that Thrivent is 'abandoning us.' Thrivent is the most charitable business in the valley. They are huge supporters of our local Salvation Army, and are regular supporters of our local United Way, Big Brothers/Big Sisters, Fox Valley Humane Assoc., not to mention the incredible work they are doing locally and nationally with Habitat for Humanity. Shame them? Shame us for taking their gifts for granted!!! Did helping us build the PAC obligate them to funding it in perpetuity? Look beyond their charitable contributions to the terrific jobs, property taxes -which pay for those beautiful schools, and all the subordinate businesses that benefit from their local presence. Every gift is a blessing, and surely, Thrivent is a blessing to us in the Fox River Valley.
Thank you Thrivent!
Brian Murray
Appleton, WI
Brian Murray (Tue Jul 03 10:19:39 2007)
Just to get the ball rolling on this, here again there is a problem of disclosure for donations at the PAC. What means $100,000 _or more_ for a lead donor?
And where does John (The Silver Surfer) Bergstrom and the other presidents, vice presidents and their factota figure into the PAC's future?
I must admit I'm having a blissful moment of "schadenfreude" not over the effect on the arts in general but for the Fox Cities Performing Arts Center in particular.
Lon Ponschock (Tue Jul 03 12:43:49 2007)
Having been a past employee of Thrivent (pre-merger), I kept my investments and bank accounts through the transition because of their endorsement of the Arts in our community. (Even though their fees and rates shot up to ridiculous amounts) Guess I can transfer accounts now. I recall friends that worked there, told of how employees were crying during the merger announcement. It was well known AAL was the stronger company to LB. Seemed like AAL bailed LB out and got left holding behind holding the bag. Sadly, it's empty now.
Julie T (Tue Jul 03 18:18:09 2007)
I think we should have seen this coming, but I feel it is a betrayal to all who pioneered this effort to bring the PAC to fruition. Without this strong commitment from Thrivent, the community would not have gone forward.
The big question for all is: How do we respond? What do we do to replace this
loss of funding? Other not for profits already feel the effects of the amount of funds donated to the PAC. Will the PAC react by cutting overhead???????
Vivian Huth (Tue Jul 03 19:13:41 2007)
As I read the above comments, I would like to remind the writers - and the readers - that this Thrivent decision applies to ALL the arts organizations in our community. The PAC is but one of them, albeit the largest (and perhaps the straw that broke the Thrivent back??). But think please about the Fox Valley Symphony, Appleton Art Center, White Heron Chorale, Appleton Boychoir, and the so many more groups which have benefitted in the past from Thrivent's events sponsorships, underwritings, contributions. Remember please that the PAC is NOT the only game in town. This corporate decision will be felt far and wide, by the many thousands of people who contribute, enjoy, support, participate in the arts life of this Fox Valley. While the dollar amount of Thrivent's presence in the arts community is unknown at this time, know that it was major and that its loss is of great consequence to this area.
Lee Parker (Tue Jul 03 22:35:19 2007)
Homelessness, poverty and early childhood education. Versus the arts. What's more important, eating or enjoying a concert? The question is not so much Thrivent's priorities as whether it really intends to honor this pledge for helping the truly needy. And whether it follows up on that pledge.
Artists have a long history of wondering and worrying about their future funds (they have to eat, too). But at least they have the intellectual wherewithal to work at their craft in a way that can produce positive results. People without jobs or homes and with kids who need help don't.
If Thrivent has been spending X dollars on poverty and the arts, and it it now reduces that to one-half X on poverty only, then it is being disingenuous by appealing to those who look at musicians and the like as elitists on the public dole. But if the same X dollars are now being made available for the needy, then hooray for Thrivent. At some point, the Appleton PAC must stand on its own two legs, even though PACs historically have been unable to do so. But that factor was known long before the first brick was laid in downtown Appleton. Or did AAL/Thrivent's initial mega-dollars imply forever?
Michael (Tue Jul 03 10:57:17)
Other arts will feel the effect of the cut in funding. However, as I think about the other organizations, such as the Boys Choir, Appleton Art Center, etc., they have always had a much smaller budget, and have been supported in a large part, by "their own". And, also by fund raising efforts. The biggest item, in my opinion, will be the PAC. It sincerely concerns me a great deal.
Vivian R. Huth (Fri Jul 06 19:37:40 2007)
Wow,
I did not know Thrivent was required to give to anyone other than themselves and their clients.
I support the arts when I can; in fact in Fall of 2004 I put on a concert (The UST Singers from the Philippines what a show that was) and due to many reasons had a very enjoyable but money losing experience.
Instead of being grateful for the support received, the starts given I hear a bunch of spoiled brats whining for more.
Thrivent's business is not arts it is insurance. If you don't like that, then start up your own company and give away! They are not even required to donate to food kitchens and the like.
I am grateful (and so is my friend) for the support Thrivent gave to a friend (a cancer victim who btw is recoverd and in remission for about 3 years now) in a matching grant (we met the full match with our fundraiser). I do not whine how they cut off donating money to my friend.
Mark A Framness (Sat Jul 07 15:44:12 2007)
What a telling sign...Thrivent reneges on another promise. Just like the many promises that were made to the community. There was a time when this was a strong, proud organization. Where did it all go!!! Thrivent should be assumed of the way they truly treat others. Making terrible decisions, and give me a break when it comes to the Christian angle they constantly try to play. The current leadership has a one-dimensional focus. TAKE CARE OF THEMSELVES!!!!!!!!!!! Shame on you Thrivent...Look at all the many advisors that have gone to others companies. Why do you think that occurred??? Sad, Sad, Sad, Sad, Sad, Sad, Sad, Sad, Sad,!!!!!!!!!!!
To all of those that don't see the writing on the wall, WAKE UP!!!
Mark (Sat Dec 15 14:31:12 2007)
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