The Murphy Foundation in El Dorado, Arkansas, has announced a seven-year, $5 million grant to El Dorado Festivals & Events, Inc. in support of the organization's plan to create an art collective and performing arts venue.
Programming at the venue will be presented in collaboration with the Southern Arkansas Symphony Orchestra, and the Southern Arkansas Arts Center, a community organization that supports and represents local performing and visual arts. El Dorado Festivals & Events also plans to renovate the Rialto Theatre with the grant funds. The grant announcement was made soon after the city agreed to provide $9 million toward the $50 million project.
"The Murphy Foundation believes that a solid business plan is the key to success," said foundation president Madison Murphy. "El Dorado Festival and Events, Inc. has provided a road map, backed by research and key demographic data, that will foster this culture of Southern arts and, in turn, create a tremendous opportunity for El Dorado and the region."