Music Worcester is fortunate to have had significant support in recent decades that allowed for the creation of endowment funds. Currently comprised of two funds, a general endowment to help fund annual operations and the Stasia B. Hovenesian Endowed Concert Fund to sponsor one performance each season, the Endowment has for the past several years provided up to $70,000+ annually in operating funds. These funds assist Music Worcester in remaining solvent, being able to rent space in Worcester amazing venues for performances, and ultimately allow the organization to continue bringing world-renowned musicians and artists to Worcester.
In the mid-2000s, an extraordinary Music Legacy Campaign occurred that greatly augmented Music Worcester’s Endowment. Over $1.6 million was raised in new endowment funds from all sources – area foundations, long-time donors, Board members, and local businesses. During this Campaign the Stasia B. Hovenesian Endowed Concert Fund was established to honor the long, successful tenure of Music Worcester’s former Executive Director.
Planned Giving and Estate Planning
Recent years have allowed Music Worcester to continue adding to its endowment thanks to the leadership of several long-time supporters who made Music Worcester part of their estate plans. Leaving a legacy in perpetuity to a nonprofit is one of the most powerful ways in which a donor can engage with an organization. Estate planning can take many forms and multiple avenues exist to combine charitable giving and the distribution of assets to next of kin at the same time. Anyone wishing to discover more about planned giving is encourage to contact Music Worcester’s Director of Development, Kate Rafey.
The Campaign for the Artistic Director of The Worcester Chorus
Over its 155+ year history, Music Worcester has meant many things to many people. For some it remains a special cultural resource where world-renowned orchestras and soloists still play, for others it is a leading jazz and folk music presenter. For some the organization serves as a formidable educational nonprofit, annually reaching thousands of students through programs across all age levels, while others understand Music Worcester's existence to be one of bringing the best in live music to Mechanics Hall. However, for all of these years The Worcester Chorus has been the heart of the organization, serving as the stabilizing force as Music Worcester has changed drastically. Thanks entirely to two area foundations, The Stoddard Charitable Trust and The Fletcher Foundation, a Campaign was announced on October 24, 2014 to endow the Artistic Director position of The Worcester Chorus, a position currently held by esteemed conductor and Bach scholar Dr. Christopher Shepard. These two foundations have issued a challenge to Music Worcester supporters at large - together they have pledged $150,000 with a challenge for it to be matched 2-to-1, meaning that $300,000 must be raised for a successful match. As of October 24, 2014 over $170,000 has already been raised or pledged from the members of The Worcester Chorus as well as the Music Worcester Board of Directors. All inquiries regarding taking part in this effort may be directed to Music Worcester’s Executive Director, Adrien Finlay.