CHAPTER II
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.
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