Match the Magnificence
MARCH 2020 STATUS
Just a few weeks ago, we were preparing a letter to you declaring the close of our five-year campaign Match the Magnificence.
We are now living in unprecedented times of hardship that dramatically descended on all of us. We are writing to ask for your help by continuing to give to your NMPhil through Match the Magnificence now more than ever.
Four years ago, we launched the Fabulous Fifth: Match the Magnificence, a five-year campaign that celebrated your New Mexico Philharmonic’s fifth-anniversary season and began a five-year drive to gradually increase income from $2,000,000 to $2,500,000. This would allow us to keep pace with increased costs, to pay the musicians and staff more appropriate wages, and to move into the future with greater financial security. We were about to reach this goal, but COVID-19 has placed a road block in our path. We are determined to keep your NMPhil healthy in this crisis and doing so will take the whole community.
We need your help!
We are already taking steps to fend off the storm:
- Postponing and trying to reschedule all of our concerts from March 15, 2020, through April 30, 2020
- Applying for emergency foundation grants.
- Asking sponsors for next season to send in their support early
- Asking ticket holders to donate their tickets or keep them as credit toward future concerts
- Temporarily reducing office staff
- Using the existing line of credit to meet financial obligations
- Applying for an emergency low-interest loan from the Small Business Administration
We will be able to pay our musicians through April 10, 2020, even though we have had to postpone or cancel multiple concerts. We feel it is of utmost importance that we protect them financially as best we can. Please consider making an additional gift to the NMPhil Musicians Fund. This funding will go directly to pay musicians.
In the last four years, Match has raised about $100,000 each year. While foundation grants and corporate sponsorships continue to be a challenge, your generosity and our staff’s fiscal responsibility have moved us toward achieving our strategic goals while remaining debt-free.
- Moving to the next level of artistic excellence
- Ensuring fiscal stability, including the creation of the New Mexico Philharmonic Foundation, Inc.
- Expanding our audience
- Creating a permanent home for your NMPhil
These are important financial facts you should know about the NMPhil to inform your giving:
- Overhead of 21% compared with the national average of 35%
- Spending 70% of budget on delivering concerts
- Spending nearly 10% of budget on education programs
- Earning 50% of funding, while most orchestras earn only 35%
- Has always operated free of long-term debt
Our highly qualified musicians and staff continue with us because of their commitment to the NMPhil, their love of the music, and the knowledge we are continuing to move toward a secure future, even now. With your ongoing support at this time of crisis, we will continue to make this a reality.
Our deepest thanks,
President, Board of Directors
How You Can Help
Donate online to make a new or increased donation. Please specify in the comments section of the that your donation is for the Match the Magnificence initiative.
Together, we can take your NMPhil to a new level of success and ensure it remains a strong cultural asset in our community.
Please call (505) 323-4343 if you have any questions.