“The Grand Rapids Symphony has raised $40 million for its endowment that helps secure the orchestra’s financial well-being for years to come,” writes Shandra Martinez in Friday’s (4/15) Grand Rapids Press (Michigan). “The Legacy of Excellence Campaign, launched in 2012 with a $20 million commitment from philanthropists Richard and Helen DeVos, has garnered an additional $20 million in pledges and future promises from 150 individuals, couples, corporations and foundations…. When fully funded, revenue from investments is expected to contribute about $2 million per year to the 86-year-old orchestra. A key goal … is to build an endowment to provide more than 25 percent of the annual expenses…. The Grand Rapids Symphony … produces nearly 50 different programs and gives about 130 concerts per season, both free and ticketed. The DeVos family has been supporting the orchestra for more than four decades. [In 1974], the couple provided the support to hire five full-time musicians, beginning the transition to a nationally recognized, professional orchestra…. That support has been passed onto the second generation.… The DeVoses’ son, Dan, and his wife, Pamela, donated $2 million to the campaign in the fall to launch two new symphony programs, Free for Families and Symphony Scorecard.”
Posted April 18, 2016
