Minnesota Orchestra Receives $10 Million Leadership Gift
Three additional anonymous gifts totaling $3.2 million also received since June;
Total gifts of $13.2 million to support Building for the Future Endowment and artistic initiatives
MINNEAPOLIS, MN (August 27, 2014) — The Minnesota Orchestra has received a $10 million leadership gift, it was announced at a Minnesota Orchestra Board Meeting earlier today. The donors, who wish to remain anonymous, offered the philanthropic contribution in order to inspire others with the capacity for leadership gifts to support the Orchestra. Subsequently, three additional donors stepped forward over the course of the summer with gifts totaling $3.2 million for the institution.
“These contributions represent a giant step forward for the Minnesota Orchestra,” said Board Chair Gordon Sprenger. “These donors have made clear their confidence in the Orchestra and have recognized the importance of offering support for both the present and future needs of the organization.”
The majority of the $10 million donation will be added to the Orchestra’s Building for the Future Endowment to help secure the organization’s artistic future. According to the donors’ wishes, a portion of the gift will also be used to fund artistic initiatives beginning in the 2014-15 season. The donors’ intent in making the contribution was to encourage others who believe in the Orchestra as a cultural asset to similarly signal their support through generous gifts.
The three additional gifts from anonymous donors are as follows:
- a $1.2 million contribution to support both the 2014-15 season and the Building for the Future Endowment;
- a $1 million gift to fund the Building for the Future Endowment;
- a $1 million gift for which the donor has not yet designated the specific use.
“Over the summer, we have been fortunate to receive extraordinarily generous gifts from major philanthropists and community donors,” said Nancy Lindahl, board vice chair who focuses on fundraising efforts. Vice President of Advancement Dianne Brennan continued, “We are very appreciative of all our donors, as this support from those who love music and this organization is absolutely critical in helping to sustain the needs of the Orchestra.”
Earlier this summer, during the month of July, the Orchestra and community volunteers raised nearly $290,000 for the organization’s 2014 Guaranty Fund in a grassroots CommUNITY Challenge. Also in July: the Orchestra concluded its 2014 performance season with a well-sold series of Sommerfest concerts, which featured an average paid capacity of 86 percent. The ensemble will hold the first performance of its 2014-15 season on Friday, September 5: a gala benefit concert featuring soprano Renée Fleming with Osmo Vänskä conducting.
“The community has shown strong interest in the Minnesota Orchestra, and we are working to transfer that passion into participation,” said incoming Interim President and CEO Kevin Smith. “Receiving a wonderful response from audiences and donors, including these remarkable gifts, is cause for optimism.”