Endowment
Endowment Fund Overview"Sharing great music that moves the human soul” is the Grand Rapids Symphony’s mission. Seventy-seven seasons ago visionaries established the Grand Rapids Symphony and the West Michigan community has embraced the orchestra in the intervening years with loyal attendance at the concerts and the financial support that has allowed the orchestra to grow into a world class ensemble.
Sustaining the orchestra at its current level and fostering artistic vision hinges on a sound financial outlook now and well into the future. In 1979, the Grand Rapids Symphony established the Endowment Fund that has grown through the generousity of many donors and sound investments to $13.5M. This healthy Endowment Fund allows the Symphony to meet its present commitments and plan for the future with confidence.
The goal of the Grand Rapids Symphony Endowment Fund is to provide a perpetual financial foundation for the Symphony’s programs and services. The Symphony intends to build the endowment to a sufficient level that investment interest income will provide a substantial and secure source of revenue for the Symphony’s annual operating budget. In 2006, the Endowment will provide 7.6% of the operating funds. William Walker chairs the Endowment Trustee Board which is composed of four members, Allan Engel, Joan Garety, Thomas Loupee, and Mark Sherwood.
Gifts to the Endowment Fund
Gifts to the Grand Rapids Symphony’s Endowment Fund may take several forms. Donors may choose an outright gift of cash or pledge a gift that can be fulfilled over several years. Donations of stock allow donors to avoid capital gains on the appreciation, when the stock’s fair market value is deducted as a gift. Another option is to make a bequest for the future, or establish a charitable planned gift. The principal of every endowment gift is kept intact and invested in a pooled fund which is managed for income and appreciation.
Gifts to the Grand Rapids Symphony’s Endowment Fund can be made in varied ways.
- Cash
- Securities
- Stock Options
- Real Estate
- Bequest
- Life Insurance
- Retirement Plans
- Chartable Trusts
- Life Income Plans
The principal benefit of an endowment gift is the satisfaction of knowing that you are one of many assuring the future of the Grand Rapids Symphony. The names of all endowment fund donors are listed in the Grand Rapids Symphony season program book. Other benefits include an invitation to the annual legacy celebration and other special donor events.
Naming Opportunities
Named Endowment Fund to support the orchestra
Endowed Educational Programs
Instrumental Sections
Principal Chairs
Section Chairs
Making a gift to the Grand Rapids Symphony Endowment
Explore the rewards and opportunities of Endowment gifts by calling Diane Lobbestael, Vice President for Development at 616.454.9451, ext. 122 or by email at dlobbestael@grsymphony.org.