Dear Members and Friends of the Philharmonic Society Family,

This, our first letter to members and friends of the Philharmonic Society of Orange County, is intended to serve three purposes: to introduce the Philharmonic Foundation of Orange County (the Foundation) to the members and friends of the Philharmonic Society of Orange County (the Society), to provide an update on the status of the Foundation and to answer some questions about the Foundation.

The purpose of the Foundation is to raise, and hold in trust, an endowment fund that will support the Society through annual disbursements to the Society approximating 5% of the Foundation’s assets. As the assets grow through donations and earnings, our goal is that the 5% disbursement will rise to a level sufficient to ensure the future vitality of the Society.

The relationship to the Society is “arm’s length.” The Society, an operating organization, raises funds through ticket sales, donations and countless hours of volunteer service while managing the business of the Society. The Foundation on the other hand, will raise, hold and invest donations made on behalf of the endowment trust for the purpose of supporting the Society. Although the Society and the Foundation are two separate and distinct legal entities with separate boards, bank accounts and financial statements, they will work together to build the endowment.

Through the Foundation, those who want to perpetuate the mission of the Society now or after they are gone may do so through a variety of options. Cash donations have been received and bequests have been made. Donors making bequests may become members of the Legacy Circle that consists of those who have already publicly committed to endow the Society in their estate documents. Their names are published in the concert programs of the Society. Or, if they prefer, they may remain anonymous.

Some examples of prior structured donations include a Charitable Remainder Trust where a donor continues to receive income from the gift as long as the donor lives. Other examples include the use of underwriting and “naming” donations. If one desires to underwrite concerts or youth programs in perpetuity, that desire can also be accommodated. Since gifts can be tailored to the donor’s preferences and circumstances, the Foundation will happily supply further information and professional support to interested individuals.

I hope the information provided, so far, has helped to make our mission more clearly understood. We welcome your comments and inquiries.

Sincerely Yours,

James Alexiou
Chairman

Philharmonic Foundation of Orange County
Contact: 949•417•9969