Gifts To The Endowment
Gifts placed in the Conservatory's permanent endowment fund are invested for growth by the Conservatory's fund managers to assure diversity and financial stability. In accordance with UPMIFA (Uniform Prudent Management of Institutional Funds Act), the Conservatory maintains the fair value of the original gift. An annual draw from the fund will be used each year to support the purpose of the endowment.
The amount of the draw is determined by the Board of Trustees and is based on a five-year rolling average. An annual draw of 4-5 percent is the Conservatory's goal. The draw for the 2013-2014 fiscal year is 5%. The market value of the endowment on June 30, 2013 was $34,990,000; the rate of return of the 2012-2013 fiscal year was 6.1%. Unrestricted Gifts
An unrestricted gift of any amount to the Conservatory's permanent endowment supports the programs and operations of the Conservatory in perpetuity. Restricted Gifts
Endowment gifts may also be directed to specific programs or funds. If you are interested in making an endowment gift for a specific purpose, please contact us. The terms of the restricted gift may be negotiated with the Conservatory. Name a Memorial Fund
These funds create a lasting memory of those who were part of the Conservatory community. The funds acknowledge the contribution these members made while at the Conservatory.
- A gift of $5,000 or more will establish a named memorial fund that benefits collegiate or preparatory students as directed by the individual creating the fund. These funds are only available in the name of a deceased faculty member, staff member, alumnus/alumna or student.
Each year individuals contribute through modest gifts to the general scholarship fund, all of which is used to offset tuition costs for deserving students. Over 98% of our students receive full or partial scholarships, and in many cases attendance at the Conservatory would not be possible without the generous contributions of supporters like you. Your contribution in any amount is welcome.
Collegiate tuition is $37,600 for the 2012-2013 academic year. Preparatory tuition for one year of private lessons is $3,250; tuition for one year of private lessons and classes in musicianship and chamber music is $5,350.
Named Collegiate or Preparatory Scholarship
- A gift of $25,000 or more will establish a named scholarship. Named scholarships support the Conservatory's endowment in perpetuity and create a lasting memory of the person whose name appears on the fund.
- A gift of $500,000 or more will establish an Endowed Collegiate Scholarship
The Conservatory is long overdue to increase the number of fully endowed scholarships so that any eminently gifted student can attend the Conservatory.
- A gift of $100,000 or more will establish an Endowed Preparatory Scholarship
Preparatory scholarships support gifted young people from all echelons of society, preparing them for a lifetime of music-making regardless of their professional aspirations.
Create a legacy that has an enormous impact on the future of music and recognize distinguished faculty members and their extraordinary contributions to the Conservatory and the world of music.
Current endowed faculty chairs include:
• Isaac Stern Distinguished Chair in Violin
• Frederica von Stade Distinguished Chair in Voice
• James D. Robertson Distinguished Professor in Piano
• Distinguished Chair in Historical Performance
• Jean and Josette Deleage Distinguished chair in New Music
• Carol Franc Buck Foundation Distinguished Chair in Opera
- A gift of $5 million of more will name an Endowed Dean's Chair
The Dean defines the Conservatory's academic and performance programs, guides and manages the work of the faculty, leads appropriate school accreditations and advances the Conservatory as a world-class teaching and performing institution.
- A gift of $2.5 million or more will name an Endowed Director Chair, Preparatory Division
Leadership funding for the Conservatory's Preparatory Division, an acclaimed pre-college music program offering private lessons, musicianship classes and chamber music for students 4 to 18 years old.
- A gift of $2 million or more will name an Endowed Faculty Chair
Endowed chairs are the most prestigious faculty positions held in American educational institutions. Endowed faculty chairs enable the Conservatory to attract the finest artist-teachers.
Pooled Income Fund
- A gift of $1 million or more will name an Endowed Faculty Fellowship
Endowed faculty fellowships provide support for faculty members to engage in the kind of teaching, coaching, performing and research that distinguishes them as outstanding Conservatory resources.
Participating in the Pooled Income Fund, established in 1983, is one way to make a deferred gift. This is a common fund in which gifts from many donors are combined for investment purposes. You and/or your designated beneficiaries received income for life based on your proportionate share of the fund. You will also receive an immediate income tax deduction when you join the fund, based on the value of the deferred remainder interest that the Conservatory will receive. The Conservatory offers a fund that is invested to achieve balanced growth and income. Because this fund consists of gifts from a number of individuals, you can participate with a minimum contribution of $5,000 in cash or securities.
For more information please contact June Hom at email@example.com