I hope you and your loved ones are well, healthy, and optimistic for a better future.
It is with great excitement that I can report that the New Mexico Philharmonic Foundation has passed a milestone by achieving about $2 million in assets. After completing several matching challenge pledges initiated by very generous anonymous donors, we received a major gift from a musician of the New Mexico Philharmonic (NMPhil) this year. This was followed by a gift of $1,250,000 from the McKinnon Family Foundation, of which $250,000 was envisioned as a community call to match. We anticipate making the first disbursement of funds to the NMPhil in the spring of 2022 in support of the now-endowed Karen McKinnon Concertmaster Chair, as well as in direct support of the remaining concerts.
While this is all good news, we need to temper our joy with sobering reality. Even if the Foundation gives 4 percent of the current endowment (an amount commonly used by organizations such as ours in order to sustain and grow the Foundation based on realistic investment returns), that amount won’t even cover the cost of one concert. Given this reality, I hope you will join me in donating to both the NMPhil Foundation and the NMPhil itself.
A few salient points:
- The New Mexico Philharmonic Foundation’s board members are from the local community.
- The Foundation’s finances are completely independent from the NMPhil.
- The Foundation has no staff and very low overhead, assuring that virtually every dollar you place with the Foundation goes exclusively to benefit the NMPhil, creating a permanent endowment.
The New Mexico Philharmonic Foundation exists to support, not compete with, the NMPhil. Please donate as you are able to the NMPhil directly. As you plan your year-end and long-term philanthropy, we ask that you consider supporting the New Mexico Philharmonic Foundation. Gifts can be made in many ways such as stock or designated bequests from estates and wills, typically called “asset gifts.” Gifts can also be bonds, real estate, 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, MD
President of the Board, New Mexico Philharmonic Foundation