The orchestra’s main suppporter, the Zell family, put in an extra fifty mill yesterday to ‘to secure long-term financial stability.’ They must be feeling pretty secure this morning around Symphony Center.
Here’s the official announcement:
At a meeting of the Chicago Symphony Orchestra Association (CSOA) Board of Trustees and members of the Chicago Symphony Orchestra (CSO) it was announced today that the CSOA is the recipient of a $50 million gift from Helen and Sam Zell on behalf of the Zell Family Foundation (ZFF). This transformational gift is one of nearly 200 gifts made to the CSOA’s ongoing SEMPRE ALWAYS capital campaign chaired by Helen Zell and brings the current total raised to $215 million. Launched in 2020 with a significant leadership gift from ZFF, the SEMPRE ALWAYS campaign was established to secure long-term financial stability for the CSOA, support and advance the CSO’s vibrant 134-year tradition of musical excellence and nurture the ongoing positive impact of music and music education on society.
Funds from this extraordinary $50 million gift will allow the CSOA to continue to advance its strategic goals. The gift provides vital funding to strengthen the organization’s balance sheet by reducing debt over time. The gift also increases the CSOA’s endowment and is earmarked to provide essential funding for musician and staff retirement benefits, the CSO’s prestigious domestic and international touring activities, special artistic projects shaped by CSO music directors, and digital content initiatives for marketing and promotion.
pictured: Helen and Sam Zell
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