$1 Million Pledged to Orchestra : Endowments: The anonymous gift and others put the Pacific Symphony closer to its $5-million goal. Donations will fund educational programs.
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NEWPORT BEACH — The Pacific Symphony has received a $1-million pledge from an anonymous donor, the orchestra announced Tuesday, kicking off a major fund-raising project aimed at raising $5 million by Sept. 30.
Including the $1 million, the orchestra has received more than $2.7 million in pledges toward that goal during the last three months.
Most of the money will be paid over the next three to five years. Because six other donors established bequests as part of irrevocable trusts, some of the money will be longer in getting to the orchestra.
A $350,000 pledge from Mary Moore Young, an Orange County philanthropist, will endow the post of assistant conductor. Currently Daniel Hege holds that position.
Money generated by the campaign will allow the orchestra to pay off its accumulated deficit of $658,000 within three years, according to executive director Louis G. Spisto.
It contains no provision to pay for any visiting orchestras, however, should the orchestra and the Orange County Philharmonic Society join forces. A merger has been widely discussed, but remains in the talking stage.
“This campaign is for the Pacific Symphony. Period,” said Roger Johnson, chairman of the fund-raising committee.
The $1-million anonymous gift will endow an Educational Performance Fund to provide permanent financial support for in-school and other educational concerts given by the orchestra.
The money will allow the orchestra to nearly double its programs, which currently reach approximately 15,000 children through concerts and another 1,500 in one-on-one training sessions, Spisto said.
The orchestra further announced a wish-list of plans for more concerts, educational and outreach programs and special artistic projects, recordings and touring. An education director will start on July 1, Spisto said. No specifics for implementing any of the other programs were forthcoming.
As part of the overall campaign, the orchestra wants to raise $2 million to endow the music director’s chair, plus other money to endow various musicians’ chairs.
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