In order to safeguard BAM and its future programs, the Academy has
established a permanent endowment fund. An endowment fund is like a
nest egg and provides financial underpinning to plan for the long-term,
to confront unanticipated challenges (like government funding cuts
or recessions), and to seize upon new opportunities for growth and
advancement.
Endowment funds are separate from
annual operating funds. Whereas operating
funds are solicited, received, and
spent on an annual basis to offset
operating costs—including the
programming, marketing, and staging
of programs like the Next Wave Festival,
BAM Opera, BAM Theater, etc.; maintenance
and security of the facility and its
theaters; and general administrative
costs—endowment funds are deposited
for investment to earn interest. Only
a very small share of earnings (5%)
is released to the institution on an
annual basis to provide an additional
steady stream of income to the operating
budget for special needs. The balance
of earnings is reinvested with the
principal to continue to grow. The
principal of the endowment fund, i.e.
the money originally raised and deposited,
is never invaded.
Endowment gifts are primarily recognized
with commemorative opportunities such
as seat endowments, space namings,
or endowed fund namings for programs
or special initiatives. In this way,
an endowment donor is recognized at
BAM in perpetuity. Some of these commemorative
opportunities include:
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Donor Wall in BAM Lobby:
A Gift of $25,000 or more
|
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Cherub
Endowment:
A Gift of $10,000
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Seat
Endowments:
BAM Howard Gilman Opera House
Orchestra Seat (A Gift of $2,500)
Mezzanine Seat (A Gift of $1,500)
Balcony Seat (A Gift of $750)
BAM Harvey Theater
Orchestra Seat, Rows A-L (A Gift of $1,000)
Orchestra Seat, Rows M-S (A Gift of $750)
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History
of BAM’s Endowment
In 1992, BAM launched The Campaign
for BAM to raise an $18 million endowment.
This was additional fundraising over
and above what was needed for annual
operations. As of June 2000, the original
endowment fundraising goal was surpassed,
totaling $20 million thanks to major
gifts from BAM Trustees, foundations,
corporations, individuals, and $1 million
in pledges and gifts from the 1,000
BAM Friends, subscribers, and single
ticket buyers who made commitments
to the Endowment Telefund campaign.
BAM is now in phase three of The Campaign,
with a goal to double the endowment
to a level of $40 million by 2005.
Contact us
Many other space naming opportunities
and fund naming opportunities are available at higher gift levels.
For more information, please contact Endowment and Development
Director, Denis Azaro.
Phone: 718.623.7810
E-mail planning@bam.org
Fax: 718.636.4171
Address: 30 Lafayette Avenue, Brooklyn, NY 11217