Questions and answers about endowments, planned giving and memorial funds…
What is an endowment? Does the symphony have one? Yes, the Flagstaff Symphony Orchestra has an endowment. An endowment is a fund that is restricted. Only the interest from the fund can be spent, not the principal that anchors the endowment. A percentage of our revenue is put into our endowment annually to assure that our original funds grow over time. Our endowment fund is managed by a professional financial advisor with long-time ties to the FSO.
What are the advantages of an endowment for the symphony? The primary advantages are stability and longevity. Our endowment allows us to think, plan and be secure beyond the current fiscal year or the next payroll. Our endowmbnt helps diversify our organization’s income and reduces our dependency. Through our endowment we offer donors the option of providing a gift that will keep on giving well Into the future. Endowment building is critically important to the current and future stability of the FSO.
What is planned giving? Planned giving is also known as gift planning or deferred giving. lt is a set of ways a donor can leave money or assets to the symphony at his/her death. lt is also a way to invest money so that the donor receives benefits during his/her life and then bequeaths the remaining funds to the symphony. Planned giving is a complex program of various financial instruments such as charitable gift annuities and trusts that can be adapted to each donor’s needs. lf you are interested in fulfilling your philanthropic dreams of supporting the symphony, we will enlist professionalfinancial help in setting up a planned giving program that suits you.
What is a memorial fund? The Flagstaff Symphony Orchestra can help you design a special gift that honors a living person, memorializes someone who has passed or commemorates an important event. You can, for example, create a scholarship fund acknowledging the contributions of a retiring musician or a lifelong symphony supporter. Contact us with your wishes and ideas, and we will help you explore suitable options for turning them into a meaningful tribute.