August 15, 1996


ATLANTA SYMPHONY ORCHESTRA EXCEEDS CHALLENGE GRANT GIFT BRINGS CHALLENGE FUNDRAISING TO $9 MILLION IN FIVE MONTHS


Atlanta--- Atlanta Symphony Orchestra League Board Chairman, John Glover, announced today that the organization has received a gift commitment of $200,000. This gift puts the Symphony over the $5 million mark in new endowment gifts and pledges received since March 13, 1996. The Atlanta Symphony responded to a grant challenging the organization to raise $5 million in new endowment within six months. The total to date is now $5,033,355. The challenge was met in just five months, Glover noted, an unprecedented fundraising achievement for the organization. The challenge deadline was September 13, 1996.

In her original challenge letter, the anonymous donor said, "I have been impressed by the (Atlanta) Symphony's progress toward righting its financial house and the sense of urgency displayed toward alleviating the persistent deficit. Tough measures deserve just rewards." The donor will now transfer to the Atlanta Symphony an additional $2 million, bringing her total gift to $4 million. This latest $2 million will eliminate the Orchestra's current accumulated deficit.

"This is a landmark accomplishment for the Atlanta Symphony Orchestra. It should be celebrated as a remarkable launch to its future, in particular to an ongoing effort to raise at least $20 million in new endowment. This is critical to stabilizing the ASO's finances and our commitment to sustaining its artistic level," Glover confirmed.

Glover continued: "When notified, our donor was elated and congratulated the Atlanta Symphony orchestra for a great step toward financial health saying, 'Maybe the Olympic Garnes and the Paralympic Games will help us all to dream new dreams for the City of Atlanta and the Atlanta Symphony Orchestra.' I join her in special congratulations to ASO President Allison Vulgamore and Vice President Rick McKelvey. Their energy and determination to meet this challenge and build on its momentum was extraordinary."

As of today, 543 gifts and pledges have been received during the challenge campaign. Glover went on to acknowledge everyone who participated in this effort. "From Nick Jones of the ASO staff, who was the first person to make a gift toward the challenge; to another anonymous woman benefactor who committed $1 million; to our final donors who put us over the goal, every gift was important. Heartfelt thanks goes to all of them. I encourage everyone to join them in building the Orchestra's endowment. I look forward to working with each of our trustees, our musicians, our staff, and the community in supporting our commitment to an Orchestra exemplary in its artistic and fiscal integrity."


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