Erie Philharmonic increases endowment from $2.2 million to $8.5 million

Posted on: May 10, 2019

“The Erie Philharmonic had a great season—and not just on stage,” writes Jennie Geisler in Thursday’s (5/9) GoErie.com (Erie, PA). “ ‘Our two-year goal was to increase the endowment, which should be five times its operating budget,’ said Steve Weiser, executive director of the Phil. ‘For that, we established a goal of $10 million, starting at about $2.2 million [and growing] to $8.5 million through estate and legacy pledges,’ Weiser said. ‘That was in large part due to two bigger gifts, of $2.5 million and $2 million each.’ Weiser said the gifts … came from ‘two separate individuals.’ Also, Weiser said, the group was able to raise legacy pledges—those written into patrons’ wills—from 20 people to 67, mainly from members of the board of directors and board of governors. The goal for the 2019-2020 season is to top the $10 million mark…. ‘This is not a cash campaign,’ Weiser said. ‘We’re looking for all estate and legacy pledges, such as a subscriber who’s been coming for 30 years making a pledge to the endowment. It’s to ensure the survival of the Phil 30, 80, 100 more years into the future…. It’s much more about next generation.’ ”

Posted May 10, 2019