CFAAC Endowment Helps the LSO Provide Classical Music Opportunities for All in Central Maryland

Note: In 2023, the Londontowne Symphony Orchestra was renamed the Naptown Philharmonic Orchestra. This article was written before the name change.

The Londontowne Symphony Orchestra* (LSO) is securing a future where everyone in the community has access to the beauty of classical music. By opening an Endowed Agency Fund at the Community Foundation, the vision of LSO founder, the late Kathy Solano, is assured.

More than two decades after its founding, Kathy’s vision, “to create a community orchestra in Central Maryland to provide high-quality classical and light classical music at an affordable price and provide young people experience and education in an orchestral setting,” has not only held fast but also expanded.

That’s why several years ago a small group of donors and the LSO Board began to discuss and research ways to provide financial stability for the orchestra in perpetuity. Initial funds to establish an LSO endowment fund were donated over five years and preserved by the LSO Board for such a purpose. After performing much due diligence, the LSO decided to work with the Community Foundation of Anne Arundel County to establish the Londontowne Symphony Orchestra Endowment Fund in 2020. CFAAC met with the LSO leadership to make sure all of their questions were answered and worked with them so they could accomplish their goals of keeping the orchestra and its programs thriving for years to come.

“Working with the Community Foundation just made the most sense for the LSO,” said LSO Board President Jack Evans. “They offer a very competitive product, they’re local, proactive, and very easy to work with — they get things done.”

Partnering with CFAAC to establish an endowment allows the LSO to focus on their mission while the Community Foundation manages the paperwork and other details of investing resources. It also provides the LSO the capacity to reach donors that the orchestra might not be able to access. And that is exactly what Jack said is the LSO’s goal.

“With the endowment fund, we hope the orchestra not only continues to expand its audience base and present more varied types of concerts in the future but also increase awareness of the LSO in the community,” he said.

“The LSO wants to provide an alternative source of classical music to the various communities in our area that’s more accessible, less expensive,” added Jack. “And even though the pandemic put a hold on several programs in the past year or two, the LSO continues to partner with several local organizations including Annapolis Green, CAAPA (the Coalition for African Americans
in the Performing Arts), and the Rotary Club of Parole. It’s our hope that the LSO endowment fund can help establish a firm financial base to help these, and new, relationships grow.”

Endowment funds at CFAAC not only ensure a future for organizations like the LSO but may be eligible for an Endow Maryland Tax Credit when they donate between $500 and $50,000 to a permanent, endowed fund at a qualified community foundation in Maryland. Cash gifts to public charities are deductible at 100% of adjusted gross income for tax year 2022 and gifts of long-term appreciated assets to charities avoid long term capital gains tax and net income tax. It’s a win-win for both the organization—in this case the LSO—and the donor.

Contact CFAAC for information about opening an Agency Fund. Our experienced staff can meet with your leadership, present information about partnering with CFAAC, and answer any questions you may have about Endow Maryland or opening a fund. Contact us for free consultation at 410.280.1102.