Over its 48 year history, endowment gifts have made an important impact on the overall health and growth of The Music Center. Endowment funds play a key role in The Music Center’s long-term financial stability. They provide an income stream that allows us to support operations at a basic level regardless of economic and political changes and other unforeseen variations in funding. They perpetuate hallmark programs. And they allow the Music Center to plan for the future with greater certainty, supporting artistic innovation and allowing for the development of creative new programs.
Today, The Music Center is one of the top performing arts centers in the world. As we embark onto our golden age, The Music Center must continue to be innovative and evolve in order to develop new audiences, support original works and provide unique forms of engagement. A strong endowment not only provides basic support to sustain and enhance existing programs, but allows the flexibility for experimentation and the initiation of new programming.
An endowed fund is permanently invested. Only the yield from the endowment is allocated annually leaving the principal intact. Our endowment funds are managed by the Music Center Foundation, an independent nonprofit organization with assets in excess of $250 million that manages endowment funds for The Music Center and its resident companies. The Foundation’s asset allocation policy is designed for long term growth and ensures that distributions to The Music Center remain consistent and protects against inflation and asset loss. The foundation is managed by an outside board of directors with experience in fund management and uses fiscal prudence in its investments to provide a maximum amount of stability.
Endowments may be established now with a cash gift or in the future with a deferred gift. By establishing an endowment fund, you will provide an enduring legacy -- a lasting heritage for the community that will continue to touch lives for generations to come. We look forward to helping you develop a plan that meets your philanthropic goals and reflects your own personal legacy.