EAST LANSING, Mich. (AP) -- Michigan State University says it's getting a $1 million endowment that will provide a big boost to programming and educational initiatives at the Wharton Center for Performing Arts.
The East Lansing school announced the gift Tuesday from the MSU Federal Credit Union. The endowment will ensure the continuation of the credit union-sponsored Broadway at Wharton Center Series, which brings touring shows to campus.
Wharton Center Executive Director Mike Brand says the gift will be "the economic engine for the center." Part of the income will be available for spending each year, and the remainder will be reinvested to increase the fund.
The gift builds on $2.25 million the university received in 2008 from the credit union. That created an institute for arts and creativity at Wharton Center.