THE SEVEN YEAR ENDOWMENT FUND, 1916
The question of placing the Philadelphia Orchestra on a firm financial
foundation had been under consideration for a long time by the Board
of Directors. Each year the Guarantee Fund was becoming more difficult
to secure and more of a burden; besides which hand-to-mouth financing
is not a very creditable path to travel indefinitely. When these
discussions arose, the first question always was “How can we solicit
money for a permanent fund and beg for a Guarantee Fund at the same
time?” That question always ended against a blank wall. No answer
suggested itself until in May, 1916, Mr. Van Rensselaer received a
communication from a person who wished to remain unknown, so he later
received the title “Unknown Donor.”
The proposition was accepted by the Board and later by the Association,
and was issued in a circular of which a copy is printed below.
“ENDOWMENT FUND
“TO THE FRIENDS OF THE PHILADELPHIA ORCHESTRA:
“A friend of the Philadelphia Orchestra Association,
who desires to remain unknown, has offered to meet
any deficit of the Orchestra for each of five years,
beginning with the season of 1916-1917.
“The conditions under which this gift will become
available are as follows:
“1. That an Endowment Fund of $100,000 yearly for five
years shall be created by the Orchestra Association, so
that the total Fund may be $500,000 at the end of this
period.
“2. That the contract of the present conductor, Leopold
Stokowski, shall be extended to cover this period of
five years.
“3. It is earnestly desired that each friend of the
Philadelphia Orchestra will pledge a generous amount in
order to create this Endowment Fund. Heretofore, all
subscriptions to the Philadelphia Orchestra have been
spent year by year, to meet the annual deficit. Under
this offer the money now contributed will not be so
spent, but will be invested to insure the permanency of
the Orchestra as an institution of Philadelphia.
“The Orchestra is a civic asset. If it is to fulfill
its destiny and place Philadelphia in the front rank
among the musical cities of the world, it must be
endowed. In order to do this, the Orchestra Association
must depend upon the generosity of its friends. We ask
that the enclosed blank be signed and returned to us
at your earliest opportunity. While it is hoped that
all gifts may be for a period of five years, yearly
contributions will be gratefully accepted. Payment of
subscriptions will be on November 1st and March 1st of
each year, beginning with November, 1916.
“ALEXANDER VAN RENSSELAER
FRANCES A. WISTER
EDWARD W. BOK
_Endowment Committee_”
The way out was found—at least the beginning of the solution was in
sight.
The proposal was widely circulated and everybody connected with the
Association began to work to raise the amount, which was to reach
$500,000 in five years. This was later extended to seven years and now
bears the name of “Seven Year Endowment Fund.” All persons connected
with the Association threw themselves enthusiastically into the work of
fulfilling the agreement with the Unknown Donor.
A meeting was called of the four Women’s Committees and their
Auxiliaries, at the auditorium of the Curtis Building through the
courtesy of Mr. Bok; the plans were explained and met with a vigorous
response. The women were to raise money in two ways. One was to procure
five-year subscriptions of large sums. The other was to secure small
subscriptions by the Group Plan. This idea was suggested because the
business management could not arrange to take care of sums of less than
$25.00. The accumulation of such, therefore, was undertaken by the
women, with Mrs. Arnett as Chairman. This piece of work was as trying
as any ever entered upon, on account of the detail of keeping small
accounts yearly for so long a period.
A group might include any number of persons but the minimum amount for
each group could not be less than $25.00 yearly, for five years. The
sum of $14,632.00 was raised by seventy-nine Groups, including two
Junior Groups; but the most important feature of the plan was that it
secured the interest of a number of hundred people who would otherwise
have been deprived of the pleasure of assisting this cause. This was
of infinite value to the Association. To Group Captains, who kept up
their quotas of $25.00 yearly for five years, the orchestra owes much,
for members often had to be replaced. The Women’s Committees have long
acted on the principal that the active interest of many people was a
necessity in building up an orchestra, and never was their belief more
justified than at that time.
The work of the women was prosecuted with enthusiasm and the response
was remarkable, not only from Philadelphia, but from Pennsylvania towns
as far west as Harrisburg and in New Jersey as far south as Atlantic
City.
Other ways of raising money were resorted to, such as chains of card
parties, inaugurated by Mrs. John B. Thayer, Jr., whose own chain
amounted to $2870, and various entertainments and concerts given by
young people. These were necessarily gifts for one year and could not
be included in the required $100,000.
The amount including large subscriptions and groups collected by the
four Women’s Committees was a total for five years of $186,000, this
being twenty-five per cent of the Fund.
In November, 1916, it was announced that the amount guaranteed for
five years was over $500,000, more than stipulated under the contract
with the Unknown Donor. It was then decided to ask the contributors to
extend their yearly subscriptions two years longer, and many responded
heartily. The name was changed to Seven Year Endowment Fund, and in
1923, the total had reached $788,400. About twelve hundred individuals
contributed at this time, and through the groups over five hundred more.
The “Unknown Donor” disclosed himself in 1920, and proved to be Mr.
Edward W. Bok. The satisfaction was great of knowing at last the name
of this generous friend of music, who had enabled the Philadelphia
Orchestra to place itself on a firm foundation.