This from the story on Channel 3000 WISCTV:
Madison Community Foundation manages all kinds of funds, including the endowment funds for seven arts groups that reside at the Overture Center.
Foundation president Kathleen Woit said the Rep did not receive any endowment dollars this year from the Great Performance Fund because it did not have a "business plan," including a line of credit, for producing plays in 2009.
The Rep dissolved last month after canceling the last two shows of its 2008-09 season.
Woit said that without any planned productions, the Rep didn't meet the endowment's contracts for pay-outs or the intent of the original donor, Pleasant Rowland, who started the endowment with $23 million.
Rowland said there was nothing to pay on but debt, and she applauded the Madison Community Foundation's board of governors' decision to say no to distributing any money to the Rep.
"It's not something that any board or staff want to have to look at. It's unhappy. It's not building on assets. It's not what we like to do, and we almost have never done it. It's certainly has not been done in the 12 years I have been president of the Community Foundation," Woit said.