We are a small gallery at a private secondary school in New England.
We have a growing permanent collection with approximately 150 objects
and our hope is to keep acquiring works of art that we can incorporate
into the teaching curriculum (both studio and other disciplines).  Our
gallery is run out of the Art Department and headed by myself, the
Curator of Collections, and the Department Chair.  Although most of our
gifts will probably come from generous alumni, we are in the midst of
starting an acquisition fund.   Someone has already made an initial
deposit of $10,000.   This has, of course, prompted many questions, and
I was hoping that people may be able to offer us some advice.  Two
issues we are very concerned with relate to procedure for using the
funds.  What is a good initial amount to begin with and how does an
institution make the transition from spending all the money in the account
to one that is endowed?

Thanking you in advance,
Penny Foss