Endowment Giving Is Critical to Sustaining the ASO’s Orchestral Excellence Ticket sales and annual giving are essential ingredients in providing financial support for the Alexandria Symphony Orchestra. But like many other not-for-profit organizations, endowment support is also a critical component in ASO’s musical excellence and financial stability. The Alexandria Symphony Concerto Foundation was established in 2005 to provide long-term financial support to the ASO. The Foundation’s goal is to build a significant capital fund, with income from that fund providing annual income to the Symphony in support of enhanced programming.
The Foundation is a “supporting organization” under section 509(a)(3) of the Internal Revenue Code and gifts made to the Foundation are tax deductible as charitable donations. As of the end of the first quarter of 2012, the fund had approximately $340,000 in assets. Gifts to the Foundation may be unrestricted or designated for a specific purpose. The first phase of the Foundation took the form of a Challenge Grant of $100,000, sponsored by Betty and Frank Quirk. Completed in May 2007, this phase generated over $200,000. The following individuals have contributed gifts of $5,000 or more as part of the first phase, or subsequently to 2007: