About the Endowment
What is an endowment?
1. The action of endowing something or someone
2. An income or form of property given or bequeathed to someone
gift - donation - grant - foundation
Endowed (past participle, past tense of endow)
1. Give or bequeath an income or property to (a person or institution): "he endowed the church with lands."
2. Establish (a college post, annual prize, or project) by donating the funds needed to maintain it.
How does the Building for the Future endowment work?
The Building for the Future endowment for the Orchestra is a 'savings' fund that will provide perpetual financial support for our organization. Only 5% of the earnings of the Building for the Future endowment fund will be distributed each year. The principal is never spent down.
Why does the Minnesota Orchestra need an Endowment?
Orchestras are among the most complex and expensive arts organizations to operate with a payroll that includes nearly a hundred top musicians, a renowned music director and highly specialized professional staff. The Minnesota Orchestra often engages guest artists and conductors years before performance dates. Fixed long-term expenses cannot be eliminated—a significant factor in containing costs.
Earned income yields only 33 percent of the Orchestra’s operating costs. Contributions from individuals, government, foundations and corporations—along with income from the Orchestra’s endowment—make up the difference, 67 percent.
Why does $30 million need to be raised for the Endowment?
Each year, the Board of Directors draws a percentage of the income earned from our investments to help cover operating expenses. For every $1.00 taken out of the Building for the Future endowment, 80 cents pays musician salaries and artistic programming. Adding $30 million to our endowment will provide an additional $1.5 million annually to help fund our musicians’ salaries and sustain the Minnesota Orchestra.
The visionaries who founded the Orchestra and the many great community leaders who invested in our endowment throughout the last century understood its importance. We invite you to build on their legacy.
When you contribute to the Building for the Future endowment with a gift today or through your estate, you’ll be making a long-term investment in the future of the Orchestra, a community treasure that is committed to service and excellence. Your endowment gift will ensure that the Minnesota Orchestra, already in its glorious second century, can keep on providing the music we all love.
How Do I Donate to the Building for the Future Endowment?
You can make a gift online.
Call or mail in your donation:
Jessica Rau, Campaign Project Manager
Building for the Future Endowment
1111 Nicollet Mall
Minneapolis, MN 55403
Make a gift through your estate.