Sound Futures Endowment Campaign
The LPO is building its first ever endowment fund to ensure its future sustainability. In a one-off opportunity the Orchestra has been offered a £1 for £1 matching grant to build a fund that will support inspiring education work, exciting partnerships with venues and imaginative programming.
September 2014 - April 2015
Charity information: London Philharmonic Orchestra
The project is a strategic fundraising campaign intended to solve a practical financial problem but more importantly deliver vital outcomes over many years. An endowment fund will help the LPO to better deliver exciting educational and collaborative programming initiatives with its venue, Southbank Centre, and to present more of the adventurous repertoire for which it has become known. This activity at the heart of the organisation's work is most threatened. An endowment broadens our income base
Through an endowment fund the LPO will have seed corn funding to allow it to incubate and develop new projects with Southbank Centre - projects that would not be possible without this additional funding for taking risks and testing new ideas. These ideas might range from education projects like the recent performances of Britten's Noyye's Fludde to the award-winning 'The Rest Is Noise' series in 2013 in which the LPO was Principal Orchestral Partner.
To create an endowment fund offering increased stability for the finances of the LPO.
Activities» Build a direct mail and online campaign around the £1 for £1 match being offered by Arts Council England for donations to the LPO endowment fun.
» Approach major donors with a view to securing more significant five and six figure gifts towards the endowment, backed by the matching idea.
» Run a series of major events including an evening at Buckingham Palace and a celebratory art and music party at the Saatchi Gallery.
By 30 April 2015 the LPO will have created an endowment fund worth £1 million which will be matched by a further £1 million by Arts Council England.
An endowment will create a step change in the financial viability of the LPO, creating a new income stream that provides a return in unrestricted funds which can be spent on delivering activity which is at the core of the LPO's mission. With an (albeit modest) endowment in place the Orchestra will have the incentive to add to it through future fundraising campaigns and, for example, by developing more proactive approach to legacy fundraising.
It is possible the the LPO may not raise all of the funds. However the Arts Council has noted that whatever is raised by 30 April 2015 will be matched even if the target is not reached. Endowments have a reputation for higher risk as they are subject to market vagaries. To counter this we have established an expert investment committee of the Board and are aware that the endowment will only ever represent one element of a much broader LPO funding mix.
Donors will be acknowledged in concert programmes and online as the campaign progresses. At the end of the campaign we will send a financial update celebrating the success of the initiative and thanking donors once again. Donors will then be kept up to date with the work that the endowment enables.
Budget - Project Cost: £1,000,000Loading graph....
Amount Heading Description £1,000,000 Endowment Creating a first endowment fund for the London Philharmonic Orchestra
Current Funding / Pledges
Source Amount The Underwood Trust £165,000 Guaranteed Dunard Fund £100,000 Guaranteed The John Ireland Charitable Trust £40,000 Guaranteed Ageas insurance £5,000 Guaranteed Emmanuel Roman £50,000 Guaranteed Simon Robey £20,000 Guaranteed Neil Westreich £30,000 Guaranteed The Tsukanov Family Foundation £50,000 Guaranteed Simon Turner £11,000 Guaranteed William & Alex de Winton £10,000 Guaranteed
The great majority of projects funded by the LPO's endowment will take place at South and Centre - the venue at which the Orchestra is resident. Southbank Centre is a vibrant arts centre situated in the heart of London and benefitting a broad range of people through its festival approach to artistic programming. It is here that funding from the endowment will help is to develop new and challenging collaborative programming initiatives.
A broad range of people will benefit from the projects mounted with endowment funding. In particular young people from the South London boroughs of Lewisham, Greenwich, Lambeth and Southwark will have opportunities to participate in the education projects that can be incubated through this additional funding. These boroughs have high levels of social and economic deprivation and all are amongst the most deprived in the UK in the index of multiple deprivation.
The London Philharmonic Orchestra has developed a strong reputation under the leadership of Principal Conductor Vladimir Jurowski for exciting, adventurous programming that provides a curated audience experience through music. This approach reached its zenith in the 2013 series The Rest Is Noise in partnership with Southbank Centre. The Orchestra's education work is also significant, reaching around 40,000 people each year. An endowment will help the LPO to build on these firm foundations.
Read more about the Charity running this project.
Development Director - General oversight of fundraising activities including appeals, membership, grants, sponsorship and events.
Individual Giving Manager - in charge of all elements of philanthropic and membership giving to the Orchestra.
Chief Executive & Artistic Director - responsibility for all programming initiatives at Southbank Centre.
Education Director, responsible for developing joint projects with Southbank Centre Centre that harness the joint powers of iconic Venus and orchestr.