Kansas City Symphony raises $52 million toward $55 million endowment goal

Posted on: January 5, 2017

“Just as every note counts in a classical composition, every dollar helps to support a cultural institution like the Kansas City Symphony,” writes Matt Campbell in Wednesday’s (1/4) Kansas City Star. “That was a key message Wednesday as symphony officials announced the final and public phase of a campaign to strengthen its endowment to the tune of $55 million. That, they said, will assure the symphony’s continued success for years to come.… Over the last four years, the symphony has raised $51.9 million of its goal from longtime supporters and arts patrons. It also has a challenge grant of $1.25 million if the public will close the gap of nearly $2 million. Symphony officials announced the public phase of the Masterpiece campaign in its performance home at Helzberg Hall of the Kauffman Center.… Ticket revenue covers less than 40 percent of the symphony’s operating costs.… The more robust endowment will allow the symphony to pay more in salaries to attract and retain the best musicians. ‘The greater percentage of this cost we can cover through investment earnings from a large endowment, the more sustainable and predictable our long-term finances will be,’ ” said Board Chairman Bill Lyons.

Posted January 5, 2017

Pictured: Kansas City Symphony Music Director Michael Stern