In the 1990s we included the Kravis Center as a part of our estate plan when we lived in Palm Beach County. Our careers took us away from Florida for 15 years. With each move, we updated our estate plan to accommodate our new state laws, and we reconsidered our bequests. Our commitment to the Kravis Center never wavered, even though we did not know whether we would ever live in Palm Beach County again. Why? Because we had shared in the Kravis Center's formative years and we knew of its importance to the community and we wanted to give back to a place that had nurtured and welcomed us. The Center also met and exceeded the four criteria we use when making our decision to give money to an organization. Is it well-run? Will its value proposition and business model endure? Are its finances sound? Is the culture of the organization — its management and its board — adaptable, diverse, open-minded, visionary and strongly united around a common purpose?
Recently we returned to live in Palm Beach County and once again enjoy the diverse offerings that continue to educate and entertain audiences of all ages. We believe building an organization's endowment is the best way to ensure that it lives on and stays vibrant — across economic cycles and across generations. Indeed, the Kravis Center is and will remain the crown jewel of Palm Beach County with income generated from a well-funded Permanently Restricted Endowment Fund.
Sherry and Tom Barrat
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