The Division shall administer the Nevada Cultural Account and may expend only the amount of any gifts, grants, donations, interest and income credited to the Account to:
1. Provide resources for developing the artistic, administrative and financial stability of cultural organizations that serve and enrich communities throughout this state regarding the arts and humanities;
2. Support programs and projects that provide residents of and visitors to this state with access to a broad range of activities regarding the arts and humanities;
3. Encourage cultural organizations to reduce their deficits, to establish cash reserves and endowments and to engage in capital projects that will aid in their stabilization; and
4. Support initiatives and organizations that encourage access to, the awareness of and education in the arts.