People across America are making transformational philanthropic gifts to orchestras. Why? Because more than ever we realize the important role they play in our society and we realize their need for support.
Personally, I am deeply moved by what the Buffalo Philharmonic Orchestra provides our city and region: excellence in music shared by generations, and a recognized symbol that bears of the name of our city.
In addition, the BPO is a well run organization. We have disciplined expense control, year-round performances, imaginative marketing and loyal community support. That is why it has earned the investment of my time and philanthrophy.
To continue to be among America's finest orchestras, the BPO must not only increase its annual revenue but begin to restructure the mix of revenue.
The single key to our future success is the size of our endowment
which is $7 million. By industry standards, we need $30 million to $50 million. We rank last among the top 40 orchestras in America.
Why is endowment so important? Because an endowment, held in perpetuity and invested and managed conservatively, augments the annual ticket sales, charitable contributions and corporate sponsorships that fuel our budget. Without endowment, ticket prices would climb beyond the means of most concertgoers. It is an unchallenged truth that only a well-invested endowment stabilizes a good symphony.
The BPO Board of Trustees quietly launched a campaign in 2005 to raise $30 million.
Our Board members have all given; the musicians have all given and so far we have achieved $10 million in pledges and bequests. A successful endowment campaign, combined with dedicated work at all levels, promises that Buffalo's Philharmonic will endure alongside the best orchestras in America. That's why my wife, Carol, and I gave. I hope you will join us.
Angelo FattaChair, Board of Trustees and Chair,
Secure the Future Campaign
People across America are making transformational philanthropic gifts to orchestras. Why? Because more than ever we realize the important role they play in our society and we realize their need for support.
