Chicago Symphony Orchestra Association Receives $50 Million Gift

In Tuesday’s (12/10) Chicago Sun-Times, Stefano Esposito writes, “The Chicago Symphony Orchestration Association has received a $50 million gift from the Zell Family Foundation, the association announced Tuesday. The gift provides ‘vital’ capital to reduce the association’s debt over time and fund musician and staff retirement benefits, Chicago Symphony Orchestra tours, CSO music directors’ artistic projects, and digital content initiatives for marketing and promotion … In addition to the orchestra, the Chicago Symphony Orchestration Association’s holdings include the Chicago Symphony Chorus, the Civic Orchestra of Chicago and the Symphony Center Presents concert series…. Helen Zell, a well-known philanthropist and president and executive director of the Zell Family Foundation, has had a long association with the CSOA, including becoming the first woman CSOA board chair. She is currently one of the board’s three vice chairs. ‘As an avid supporter of the arts, I understand the importance of philanthropy in filling the gap between earned revenue and operating expenses. The generosity of donors will ensure the long-term sustainability of our great cultural institutions,’… Zell said … Her husband, Sam Zell, a Chicago real estate tycoon and entrepreneur who once owned the Tribune Co., died last year at age 81.”