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A Defining Moment:
We all have great defining moments in our lives whether they involve our families, careers or personal growth. For the Buffalo Philharmonic Orchestra, there have been many notable defining moments throughout its illustrious 70 year history. The orchestra's founding in 1935, the construction of Kleinhans Music Hall in 1940, the engagement of many great musical leaders and our triumphant return to Carnegie Hall in 2004 are just a few that come to mind.
Today we are in the midst of another defining moment. This past December, The John R. Oishei Foundation laid out what is perhaps the most significant challenge the BPO will ever face. They have pledged $6 million to our endowment fund if, and only if, we can raise a total of $24 million in cash or pledges in our Secure the Future Endowment Campaign by December 31, 2008. If successful, the orchestra will have achieved an endowment of over $30 million -- an endowment that begins to compare favorably with our peers and reaches the minimum standard for an orchestra's endowment of three times its operating budget.
This larger endowment will eventually contribute over $1.5 million annually to the BPO, thereby minimizing the possibility of future budget deficits. Also, we will more readily fulfill and expand our mission of artistic excellence in everything we do, including our educational programs to all of Western New York.
To date, we have achieved much success in this campaign, with approximately $22 million in cash and pledges. The orchestra has given; the Board of Trustees has given; and many of our closest BPO "family" members have given. We are pleased that many individuals have so generously supported this vision for our cultural treasure that is the Buffalo Philharmonic Orchestra.
We are at a defining moment in the history of our beloved orchestra and it is now time for us to ask for your help.
Thank you for your continuing support of the BPO and for being part of this defining moment.
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