New Mexico Philharmonic Foundation Annual Fund
We are excited to announce a new opportunity to support your New Mexico Philharmonic (NMPhil)—the New Mexico Philharmonic Foundation, a new standalone 501(c)(3) whose mission is to “provide dedicated funding for the New Mexico Philharmonic, funding that creates long-term stability, future growth, and permanence through a secure venue for donor support that is directly controlled by its donors and trustees.”
Thank you so much for your ongoing support of your orchestra, which makes it possible for the NMPhil to have the highest-quality musicians, conductor and performances.
The NMPhil has been carefully managed from its inception and has never had long-term debt, an extraordinary accomplishment for any performing arts organization. However, your orchestra also has no financial reserves, a situation likely to continue into the foreseeable future. This economic knife-edge poses continuing challenges. The New Mexico Philharmonic Foundation was created to ensure the future solvency of your NMPhil.
Why a foundation you may ask?
For several reasons: Some supporters have asked for a way to ensure that larger future gifts go to a third party that is exclusively dedicated to ensuring the health of the NMPhil. Also, we have found that the major cultural entities in our community, such as the Natural History Museum and the Albuquerque Museum have prospered through the creation of their own dedicated, independent foundations. We believe the New Mexico Philharmonic Foundation is the very best way to build up reserves for the NMPhil, independent of daily operations, and ensure its long-term health.
Here are some facts about the New Mexico Philharmonic Foundation:
- The board members are from the local community.
- The foundation’s finances are completely independent from the NMPhil.
- The foundation has no staff and almost zero overhead, assuring that virtually every dollar you place with the foundation will go exclusively to benefit the NMPhil. Essentially, creating a permanent endowment for the NMPhil.
The New Mexico Philharmonic Foundation exits to support, not compete with, the NMPhil. Please continue to give as you have and are able to the NMPhil directly. However, as you plan your year-end and long-term philanthropy, we ask that you consider supporting the New Mexico Philharmonic Foundation. We expect gifts to typically be onetime gifts such as stock or designated bequests from estates and wills, typically called “asset gifts.” Gifts can also be bonds, real estate, IRA required minimum distributions, related instruments, and of course cash. These are tax deductible to the extent allowed by law.
Please join us in providing additional support for outstanding classical music in Albuquerque, ensuring a bright future for your NMPhil.
Thomas Martin, Board President
New Mexico Philharmonic Foundation