Over the course of its more than 100-year history, the Pittsburgh Symphony Orchestra has been committed to excellence on all levels from artistic and emotional to education and community engagement.
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| Consider… |
| The moving experience of a patron being swept away by a brilliant performance. |
| The educational development that occurs |
| The remarkable economic impact that is generated from patrons of a world-class cultural asset. |
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| Now… |
| The Symphony moves into a new era, thanks to the transformational $29.5 million R.P. Simmons Family Gift. |
| The success of the Campaign, launched by this gift, will preserve the PSO's mission of enriching the community with the highest level of musical experience while ensuring the financial stability of this venerable and invaluable institution for future generations. The PSO has been and always must be a treasured legacy entrusted to the entire community. Its sources of funding in this Campaign must be as diverse as its audience. |
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The Breakdown
PROGRESS TO DATE: $69.4 million
Unlocking the Gift
The R.P. Simmons Family commitment was constructed as a three-part gift with specific stipulations to inspire and leverage support for the entire community.
Part I.
With a goal of $25 million, the first phase was ignited by a $7.5 million gift from the R.P. Simmons Family, to be used for immediate needs of the PSO. The remaining $17.5 million goal was achieved by the PSO's nearest and dearest, and also by their its lead corporate donor for the Campaign, BNY Mellon.
Part II.
This part commits $1 million from the Simmons Family for every $5 million the PSO raises, up to $25 million. To date, Part I is complete, and the PSO has made significant progress in raising the first $5 million of Part II.
Part III.
This part is measured independently from Parts 1 & 2 and guarantees a $17 million irrevocable bequest to the PSO whenever the organization has held three consecutive seasons of balanced budget. In order to do this, the PSO's Annual Fund must increase each year to reach the ultimate commitment to excellence: a gift to both the Campaign and the Annual Fund.
| Campaign Leadership |
Campaign Vice Chairs |
Campaign Cabinet |
Richard P. Simmons
Chair
Elsie & Henry Hillman
Honorary Vice Chair
Beverlynn Elliott
Executive Vice Chair
Jeffery Leininger
Executive Vice Chair
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James R. Agras
Joseph L. Calihan, Jr.
Thomas B. Hotopp
Thomas McConomy
Murry Gerber, Corporate Division |
Barbara B. Ackerman
Melinda Beard
Carol Bleier
Larry Brockway
David Burstin
Basil M. Cox
L. Van V. Dauler, Jr.
George A. Davidson, Jr.
Vince Delie
Martin D. Earle, M.D.
Albert H. Eckert
Carol Evans
Elizabeth H. Genter |
Peter S. Greer
C. Talbott Hiteshew, Jr.
Robert W. Kampmeinert
Cliff Kress
John Marous
Granger Morgan
James Murdy
Mildred S. Myers
William R. Poller, M.D.
James W. Rimmel
Cindy Shapira
Sunil Wadwhani
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Case for Endowment
Building an endowment that complements our stature
While ticket sales, performance fees, government grants and philanthropic support have long provided integral funding to the PSO, such revenue is not enough to produce the necessary income to maintain a world-class orchestra. Consequently, internationally renowned orchestras turn to earnings from their endowment to balance their budgets every year.
The single most important means to sustaining the PSO's world-class artistic excellence is to significantly increase the size of its endowment. This objective is the highest priority in the PSO's campaign. A larger endowment will provide the PSO with sufficient funds to: attract internationally acclaimed artistic leadership on the podium; engage world famous guest artists on the stage; retain nationally recognized principals; sustain a full complement of full-time musicians at competitive compensation; travel annually to perform in the world's finest concert halls; broadcast performances on national radio; and continue to produce recordings for global distribution.
Currently, the PSO draws 6.5% annually from its endowments earnings to help fund annual operations. This percentage draw exceeds the national average by 1.5%, so the PSO Board and staff are committed to reducing the percentage of the draw by 1.25%, thus furthering the organization's commitment to financial stability and long-term fiscal health. This can only be done if the Campaign is successful and the endowment substantially increases, allowing earnings to accrue on a larger principal, thereby allowing for a reduced percentage rate of draw annually. |
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Programs
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The PSO's original vision was to play a vital role in the city's cultural, economic and educational life. That vision persists today because supporting music education in area schools and engaging communities in artistically enriching experiences are key factors in building future audiences. By exposing audiences to classical music, often free of charge, the PSO fosters enduring relationships that transform those audiences into future ticket buyers and, perhaps, inspire the musicians, maestros, and composers of the next generation.
The PSO's commitment to education and community programs has been recognized nationally. Because we take artistic excellence seriously both on and off the stage, we are the only American orchestra to have received the 2006 Bank of America Award for Excellence in Orchestra Education and the 2003 MetLife Award for Excellence in Community Engagement..
For more information on the Pittsburgh Symphony's education programs, please visit our Overview of Education and Community Engagement. |
Setting the Stage for the Future of Heinz Hall
Very few of the world's orchestras are privileged to own their facilities. The PSO is proud to own Heinz Hall, one of Pittsburgh's architectural jewels and a recognized historic landmark. Beginning life as the Loew's Penn Theater, Heinz Hall was renovated and dedicated in 1971. Since that time, this cornerstone of Pittsburgh's Cultural District has played host to more than 500,000 patrons annually.
But prudent ownership mandates care. The last major renovation of this extraordinarily busy building took place in 1995, and no major repairs have occurred since then. Like any structure, continual improvements are required, but often they are costly and sometimes they are unforeseeable.
Care of Heinz Hall is necessary for responsible maintenance of a landmark building and for important revenue purposes, as well. Today, the PSO needs to replace leaking roofs, repair cracked sidewalks, replace eroded recognition bricks, acquire a high-quality sound system, update rigging equipment, and improve backstage facilities. The PSO receives more than a half a million dollars per year in rental and facility fees from touring groups that demand state-of-the-art venues in which to perform. Without Improvements, Heinz Hall will be a less competitive performance space and this income will be in jeopardy. The Campaign seeks to raise $10 million for capital improvements to Heinz Hall. |
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