Silicon Valley Community Foundation (SVCF) has made a USD50m (€44.4m) gift to the endowment of The Philadelphia Orchestra Association. SVCF has also awarded USD5m (€4.5m) to support current and future orchestra operations.
The gifted money was donated from a donor-advised fund at SVCF by a group of individuals who chose to remain anonymous. In a press statement, the group expressed confidence in the orchestra and its artistic and organisational leadership.
“This exemplary act of generosity is overwhelming” said Richard B. Worley, chairman of the board of directors. “The impact of this gift will be felt for generations. I know it will also serve as an inspiration and invitation to others to strengthen the orchestra for the future. The donors have my deepest respect and admiration.”
SVCF aims to advance innovative philanthropic solutions to challenging problems. The foundation partners with families, individuals, and corporations to manage and facilitate their philanthropy. This donation will make it the largest gift Philadelphia Orchestra has received.
Music director Yannick Nézet-Séguin commented, “In all that we do, the musicians of the orchestra and I seek to create joy through music. With this tremendous support, we look forward to sharing that joy widely and in new, groundbreaking ways in the communities of Philadelphia, across the country, and around the world.”