Charlotte Symphony hopes Wells Fargo challenge will boost fundraising

Posted on: April 25, 2012

In Tuesday’s (4/24) Charlotte Observer, Steven Brown writes, “The Charlotte Symphony’s long effort to escape from financial troubles is getting a new kind of boost from Wells Fargo, which will use a challenge grant to attract donors to the orchestra. Up to $400,000 could land in the orchestra’s coffers through the bank’s two-part challenge. Wells will match up to $100,000 of contributions to the orchestra’s general operations and $100,000 of gifts to the orchestra’s programs on the Arts & Science Council’s fundraising website, power2give.org. A challenge grant is a departure for Wells, which typically makes outright donations, said Jay Everette, the bank’s Charlotte community affairs manager. The bank wants to strengthen the orchestra’s effort to draw new supporters. … [The Charlotte Symphony] whose finances weakened during the downturn after 9/11, was hit even harder by the recession. Within about a year starting in 2008, corporate donations totaling about $700,000 dried up, and the ASC reduced its support by $1 million. … While box-office revenue has increased, the orchestra is looking to individuals to help. The challenge grant will give the orchestra leverage with prospective donors, said Jonathan Martin, orchestra executive director.”

Posted April 25, 2012