The Philadelphia Orchestra Announces Pledges of Major Funding

The Philadelphia Orchestra announced today major funding pledges from the William Penn Foundation, Wyncote Foundation, Gerry Lenfest, the Neubauer Family Foundation, and members of the Board of The Philadelphia Orchestra Association. With $11.2 million in outright gifts and pledges and an additional $16.3 million pledged as challenge grants to inspire philanthropic support from our community, this initial funding signals an important vote of confidence in the plan being launched by the Orchestra. To fully meet these challenge grants - and to fund the first three years of its plan - The Philadelphia Orchestra must secure an additional $17.5 million in contributions by the close of 2011. This effort will take place concurrently with the Orchestra's Annual Fund campaign.

The announcement of these leadership funding gifts and pledges comes two months after The Philadelphia Orchestra Association filed for reorganization in U.S. Bankruptcy Court and four weeks after the launch of "Listen with Your Heart" - an initiative aimed at inviting public support and growing ticket sales as well as fundraising for the Orchestra. The Philadelphia Orchestra is diligently working through the reorganization process to lay the foundation for long-term financial health and stability.

"We are deeply grateful to the William Penn Foundation, Wyncote Foundation, Gerry Lenfest, the Neubauer Family Foundation, as well as members of our Board of Directors, for their extraordinary generosity toward The Philadelphia Orchestra," said Allison Vulgamore, president and chief executive officer of The Philadelphia Orchestra Association. "Their leadership and support within the philanthropic community is unparalleled and we are honored by their renewed belief in our ensemble's incomparable musical artistry as well as our plan to regain our long-term financial stability. These gifts provide significant momentum for our ongoing fundraising efforts. And as we turn our attention toward the future, we do so with confidence knowing that our plan to move The Philadelphia Orchestra forward with vision and purpose has the support of such outstanding civic leaders."

In accordance with the protocol of the funders, specific details of these gifts, beyond the total of matching funds available, will not be released. As additional major gifts are secured throughout this fundraising effort, The Philadelphia Orchestra will provide updates to its patrons and the general public.

"From the appointment of Yannick Nézet-Séguin as Music Director Designate and the $15.3 million Recovery Fund raised by our Board of Directors and our community in 2010, to the recent unveiling of the first phase of our strategic plan, we have taken important steps to secure a sound and exciting future - artistically and fiscally - for The Philadelphia Orchestra," said Ms. Vulgamore. "These newly announced gifts, pledges, and challenges not only bolster our confidence and drive our continued efforts to secure the renaissance of this beloved ensemble, but also demonstrate an exceptional commitment to the advancement of the Orchestra for today's audiences and for generations to come."

To learn how to support The Philadelphia Orchestra through tickets sales, subscriptions or a donation, please visit www.philorchtoday.org. For more information regarding The Philadelphia Orchestra, its current concert season and its history, please visit www.philorch.org.

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