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Naptown Philharmonic Orchestra Endowment Fund
CFAAC Nonprofit Agency Endowed Fund
About the Organization
This CFAAC Nonprofit Agency Endowed Fund was established in 2020 to support the mission of the Naptown Philharmonic Orchestra Endowment Fund (NPO), formerly the Londontowne Symphony Orchestra (LSO). The purpose of this fund is to receive and administer funds as an endowment to provide income and long-term protection for the operation of NPO in its mission to provide high-quality, family-friendly, affordable classical and light classical concerts for the enrichment and enjoyment of Central Maryland residents of all ages and backgrounds. We also provide an opportunity for professional, student and community musicians to learn and grow under professional and experienced leadership.
Help support the Londontowne Symphony Orchestra with a special gift this year by donating to their Endowment Fund below.
CFAAC Endowment Helps Provide Classical Music Opportunies
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. They offer a very competitive product, they’re local, proactive, and very easy to work with — they get things done.”
— Jack Evans, LSO Board President
“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.
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 they also can benefit donors. Contributors 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.
Endowment funds at CFAAC not only ensure a future for organizations like the LSO but they also can benefit donors. Contributors may be eligible for an Endow Maryland Tax Credit.
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.
This story was originally published in the 2020 CFAAC Annual Report.
Make a Tax-Smart Impact
Many people like you are making tax smart donations with appreciated stocks and bonds, qualified charitable distributions (QCD) from an IRA, or a variety of planned gifts. For more information, please email John@CFAAC.org or call 410-280-1102 ext. 103.
Should you wish to make a non-cash donation, CFAAC accepts gifts of appreciated stock for the benefit of this fund. To initiate this transaction, contact your broker with the number of shares of each security you wish to give. All gifts of stocks and bonds which are “DTC Eligible” can be transferred to CFAAC using the information below:
- Pershing, LLC Depository Trust Company (DTC) #0443 For the credit to: Pershing, LLC #4S2117401
- Account name: The Community Foundation of Anne Arundel County
PLEASE NOTE: Donor names are rarely provided when securities are transferred electronically. To ensure your gift is correctly allocated, please email Kathy@CFAAC.org with the gift amount and the name of the fund your gift will support.