Cygnet Theatre And NTC Foundation Receive New $5 Million Endowment And $3 Million Gift

Cygnet Theatre and NTC Foundation have received two generous, transformative gifts to their joint project, The Joan and Irwin Jacobs Performing Arts Center. A $5 million endowment from the Joseph W. Clayes III Charitable Trust and a $3 million gift from Irwin Jacobs that brings the Jacobs' total contribution to $10 million will support the development of San Diego's newest performing arts center. Lovingly nicknamed The Joan, the state-of-the-art venue is slated to open in late Summer 2025 at ARTS DISTRICT Liberty Station.

The Joan - the result of a unique nonprofit partnership between Cygnet and NTC Foundation - is an adaptive reuse project renovating and restoring historic Naval Building 178. Upon completion, it will be a world-class theatre and the only free standing live performance space at ARTS DISTRICT Liberty Station. The Joan will feature the Joseph W. Clayes III Theatre - a 280+-seat proscenium theatre - as well as a 150-seat flexible studio space, state-of-the-art back-of-house facilities, acoustic elements and more - all allowing Cygnet to elevate their highly-anticipated productions and serve more San Diegans than ever before.

The $5 million endowment will support the venue's ongoing operations by providing long-term support for Cygnet Theatre and The Joan, ensuring the financial stability of these key cultural institutions in San Diego. The endowment will help cover ongoing expenses and ensure the iconic company, and its new, permanent home, continue to thrive.

"As Trustees of the Joseph Clayes III Charitable Trust, my co-trustee Brendan Holmes and I have made decisions based on the mission of the Trust and organizations that my uncle would have had a connection. My uncle completed his naval training at the Naval Training Center and also had a strong connection with the performing arts," said Trulette M. Clayes, Co-Trustee and niece of Joseph Clayes III. " When I was traveling through Liberty Station and noticed the signage on The Joan and Irwin Jacobs Performing Arts Center, I thought that this was the perfect blend of my uncle's history and his love of the arts. We are honored to become a part of the Cygnet Theatre family and the Naval Training Center."

In addition to this endowment, Irwin Jacobs recently contributed an additional $3 million donation to The Joan, which is nicknamed in honor of his late wife, Joan Jacobs. This donation furthers Joan Jacobs' significant philanthropic legacy in San Diego and brings Cygnet and NTC Foundation closer to their $43.5 million fundraising goal.

"Joan and I were thrilled when we learned of plans to convert Naval Building 178 into a spectacular theater for use by Cygnet and many others," said Irwin Jacobs. "Given the unexpected costs in restoring historic buildings, I am pleased to provide this additional gift to help ensure completion on schedule. My family looks forward to attending the first performance at The Joan."

"Thanks to these generous contributions, The Joan and Cygnet Theatre are poised for a strong and sustainable future," said Bill Schmidt, co-founder and Executive Director of Cygnet Theatre. "This is an incredible moment for both organizations, allowing us to continue enriching the community with powerful artistic programming."

With the Jacobs' newest contribution, the project has now achieved 86% percent of its $43.5 million fundraising goal. While the Clayes endowment does not reduce the remaining $5.9 million needed, it ensures long-term, financial stability and support for The Joan and Cygnet Theatre by providing $1 million annually over five years. The first distribution of funds will be received in December 2024, with subsequent disbursements each December through 2028. The funds, held by Cygnet Theatre but dedicated specifically to the ongoing support of The Joan, will help cover operational costs. Both contributions are imperative for bringing The Joan to life and preserving it as a cornerstone of artistic and cultural programming in San Diego.

"This gift and endowment represents an unwavering commitment to the arts in San Diego, helping us maintain a vibrant cultural hub," said Lisa Johnson, NTC Foundation President and CEO. "The generosity of the Joseph Clayes III Charitable Trust and Irwin Jacobs will allow us to enrich our community through art and equip us to meet future challenges with resilience and creativity."

Since its groundbreaking in January 2024, The Joan has received incredible community support, helping to realize the building's momentous transformation. Cygnet Theatre and NTC Foundation are relying on continued philanthropic support to fulfill the remainder of the needed funds. They invite the public to take advantage of tax-deductible opportunities and become a part of this landmark project before year-end. Together, this support can ensure The Joan reaches the fundraising goal by its official opening date, bringing world-class performances to the San Diego community for years to come.

Donations can be made via www.building178.org, by contacting Campaign Manager Mindy DeDominicis at 619-574-0059 x178 and all donations checks should be made payable to Building 178 Performing Arts Center and mailed to Bank of Southern California 1620 5th Avenue, Suite 120 San Diego, CA 92101. Naming opportunities are still available and Donor Wall inclusions are available for a minimum donation of $25,000.

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