The LSO Endowment Fund
The LSO is pleased to announce the creation of the Londontowne Symphony Orchestra Endowment Fund at the Community Foundation of Anne Arundel County (CFAAC). Growth of the LSO Endowment Fund will provide important financial underpinning and a secure financial stream for the orchestra in perpetuity. Donations made to this fund will be managed by Mason Advisory Investment Services. LSO’s Fund is managed according to CFAAC’s Investment Policy Statement and invested in the Foundation’s Long-Term Growth pool, providing maximum return with reasonable financial risk.
Initial funds to establish the LSO Endowment Fund were donated by interested donors over the last 5 years and preserved by the LSO Board for such a purpose. The creation of the LSO Endowment permits donors across Maryland who support the arts to direct their donations generally to CFAAC or to individual funds within CFAAC.
There are several advantages to donors who support funds within CFAAC. Donors may be eligible for an Endow Maryland Tax Credit when they donate between $500 - $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 (AGI) for tax year 2021 and gifts of long-term appreciated assets to charities avoid long term capital gains tax and net income tax.
The LSO Board and the individual musicians themselves are excited about obtaining a measure of financial security for the LSO through the Endowment Fund. This means the easing of financial constraints for yearly programming and operations which currently are not fully covered financially.
The LSO Board, the musicians and our Music Director/Conductor, Dr. Anna Binneweg, invite your input and participation in an ongoing effort to preserve the Orchestra and expand its service to the greater community.
To donate to the LSO Endowment Fund, you may either:
Mail a check made payable to CFAAC and note in the Memo “LSO Endowment Fund.” You can mail your check to: CFAAC 900 Bestgate Road, Suite 400, Annapolis MD 21401
Go to https://cfaac.fcsuite.com/erp/donate and follow the instructions provided by CFAAC.
If you have any questions or concerns about any tax effects of your donation to the LSO, please consult your tax advisor.