$5 Million Gift Takes RPAC Endowment Fund "Over the Top"
Anonymous Donor Lends Support to Kimmel Center Maintenance
April 26, 2001
An anonymous donor has pledged $5 million to the Regional Performing Arts Center, raising RPAC's Endowment Fund to $10.6 million-surpassing the campaign's original goal by $600,000. Revenues from this major new gift will support the ongoing maintenance of The Kimmel Center, the dramatic, two-venue landmark that will join the Academy of Music under RPAC's management.
"We are proud to announce that we have exceeded our $10 million Endowment Fund goal more than seven months before our December 16th Grand Opening," says Stephanie W. Naidoff, President of the Regional Performing Arts Center. "Thanks to this generous and far-sighted individual, we have achieved this milestone when many cultural centers open without endowments, and with a major portion of capital funds still outstanding. Particularly gratifying for us is the spirit in which this gift was given-the donor wants to ensure the continued magnificence of the state-of-the-art Kimmel Center. Such generosity encourages others to join in this crucial effort."
RPAC's "bricks and mortar" fundraising effort-The Campaign to Build The Kimmel Center-has so far reached 95% of its $255 million goal for capital funds, and continues to welcome thousands of new stakeholders in the Philadelphia region's greatest cultural and civic undertaking. For more information about The Campaign to Build The Kimmel Center, call 215-790-5321.
Opening December 16, 2001, the new 450,000 square-foot Kimmel Center for the Performing Arts is located at Broad and Spruce Streets along Philadelphia's Avenue of the Arts. Designed by internationally acclaimed architect Rafael Viñoly, The Kimmel Center will join the historic Academy of Music to become one of the nation's largest performing arts complexes, and will be administered by the Regional Performing Arts Center. The Kimmel Center features the 2,500-seat Verizon Hall, a state-of-the art concert hall with acoustics designed by Russell Johnson, which will be the home of the world-renowned Philadelphia Orchestra. In addition, the arts complex will host the annual seasons of the Opera Company of Philadelphia, Pennsylvania Ballet, American Theater Arts for Youth, Chamber Orchestra of Philadelphia (formerly Concerto Soloists Chamber Orchestra), PHILADANCO, The Philadelphia Chamber Music Society and Peter Nero & the Philly Pops®.
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