FOR IMMEDIATE RELEASE
Media Contact:
Nick Dobreff, Director of Publicity and Community Relations
616.485.3913 (m) – 303.308.2477 (o)
ndobreff@coloradosymphony.org
COLORADO SYMPHONY GROWS OPERATING ENDOWMENT TO OVER $88 MILLION
Extraordinary community support during unprecedented era sets post-COVID-19 future on firm ground
September 13, 2021 – Denver, CO – The Colorado Symphony Association (CSA) announces that its endowment has exceeded its goals and reached over $88 million as of September 1, 2021.
“This achievement is unprecedented in the Colorado performing arts community,” said Jerome H. Kern, Emeritus Chair of the Board of Trustees. “This extraordinary news is the culmination of ten years of audience growth, strong fiscal management, and stellar artistic accomplishment.”
The CSA maintained financial discipline and accountability during the COVID-19 pandemic, despite limitations on its ability to perform music to live audiences. “Last year was a tremendous challenge, but we are now in the best financial position in the orchestra’s history,” said Mr. Kern. “Through the tireless efforts of musicians, staff, Board of Trustees, and our community partners, we continued to bring live symphonic music into homes across the state, during a time when the need for music was more critical than ever.”
As the state’s only full-time professional symphony orchestra, the Colorado Symphony performs a season of programming in Denver and in venues across the Front Range. The Colorado Symphony recently announced its 2021/2022 season of performances in Boettcher Concert Hall beginning this autumn.
Endowment assets are invested and a portion distributed annually to the CSA to support operations according to a formula established by the Colorado Symphony Fund Board, a separate 501(c)(3) which invests and manages the endowment assets. Undistributed earnings are reinvested in the fund to build its value and impact over time. An endowment strengthens a symphony in many ways, augmenting the organization’s operating budget, which includes salary support for musicians, funding for youth concerts as well as other educational and outreach activities, and financial backing to bring guest artists and conductors to perform with the orchestra. It also stabilizes ticket prices, thus ensuring performances remain affordable for the widest possible audience.
“We are honored to be able to share in the success of the Colorado Symphony’s fundraising efforts to the Colorado Symphony Fund that will ensure the future of the organization, furthering its mission to continue providing Colorado with live symphonic music for generations to come,” said Steve Brett, President of the Colorado Symphony Fund.
“Incredible would be an understatement for what this news means to us musicians,” said Jason Shafer, principal clarinet. “We can’t even begin to express how grateful we are to know that our philanthropic partners share our love of live symphonic music and want to invest so much to ensure that symphonic music has a more secure and permanent place in Colorado.”
“Our greatest challenge as an institution is ensuring there is demand for live symphonic traditional classical music in the future,” said Mr. Kern. “That’s what we’re committed to, and this extraordinary news will allow us to continue that mission on a strong financial footing.”
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CONTACTS:
For more information or to request interviews, please contact:
Nick Dobreff, Director of Publicity and Community Relations
ndobreff@coloradosymphony.org - 303.308.2477 (o)
For high-resolution, downloadable images of the Colorado Symphony, contact: ndobreff@coloradosymphony.org
The 2021/22 Colorado Symphony Season is presented by Bonfils-Stanton Foundation. Support also provided by: The Scientific & Cultural Facilities District (SCFD), United Airlines, and the Colorado Symphony Guild.
TICKETS:
Tickets to Colorado Symphony events are available online at coloradosymphony.org/tickets or by phone at 303.623.7876. The Box Office is open for phone inquiries only, Monday – Friday, 10 a.m. - 6 p.m., and Saturday, 12 p.m. – 6 p.m.
ABOUT THE COLORADO SYMPHONY
The Colorado Symphony Association is the region’s only full-time professional orchestra committed to artistic excellence and ensuring the future of live, symphonic music. Performing over 150 concerts annually at Boettcher Concert Hall in downtown Denver and across Colorado, your Colorado Symphony is home to eighty full-time musicians, representing more than a dozen nations, and regularly welcomes the most celebrated artists from all genres of music. During the COVID-19 health pandemic, we worked to safely produce over 50 concerts with and without audiences, including: 18 Red Rocks Park and Amphitheatre performances, two large scale virtual community benefit concerts, and dozens of small ensemble concerts performed in numerous outdoor venues like the Denver Performing Arts Complex Galleria, Denver Zoo, and Denver Botanic Gardens. Virtual #PlayOn campaigns garnered 2 million views between our Virtual Music Hour, Weekly Replay, From Home Concerts, and MusiCurious Instrument Interviews. Recognized as an incubator of innovation, creativity, and excellence, your Colorado Symphony continually expands its impact through education, outreach, and programming. We partner with the state’s leading musical artists, cultural organizations, corporations, foundations, sports teams, and individuals to expose diverse audiences to the power of symphonic orchestral music.