ENDOWMENT TRUST (CPET)
In 2004, under the astute leadership of Ton Vosloo, an endowment trust was created to ensure the sustainability of the Cape Town Philharmonic Orchestra. Together with fellow trustees, Wendy Ackerman, Louis Heyneman, Wilmot James, Christoff Pauw and Ben Rabinowitz, the CPET, set itself the goal to build capital for the CPO at a time when funding for the arts and particularly for symphonic music is witnessing more lows than highs.
With the objective to build capital from which the CPO may draw interest, as and when financially necessary, the CPET has been a crucial buffer to ensure both sustainability and survival during bleak times and remains a crucial source of support to the CPO, for all elements of its work, including for symphony concerts as well as for the work of the ever-expanding youth education and training programmes.
Donations and contributions to the Endowment Trust are carefully managed and regulated. The trust currently stands at R3.5m and the assets of the trust are held in a portfolio of equities managed by Investec Securities.
Currently, there are several mechanisms available to make a vital donation to the CPET, including through direct donation, leaving a bequest as well as making a donation from beyond the borders of South Africa.
In the words of the visionary chairman of the CPET, ’As this Trust was created to provide a legacy to ensure the future of the Cape Town Philharmonic Orchestra, I would appeal to donors to view their contributions as an act of philanthrophy’.
Or make a bequest to The Cape Town Philharmonic Endowment Trust
Cape Town Philharmonic Endowment Trust Exemption No: 930 014 371
Did you know that a bequest to the Cape Philharmonic Endowment Trust is tax exempt? Money left to registered non-profit organisations in your Will is not only exempt from donations tax but, because it is subtracted from the net value of your estate before tax is calculated, it can reduce the tax liability overall. Instead of paying the taxman please ensure the pleasure of classical music for all future generations. Click here for the legal background to the Trust.
How to make a bequest
If you add a bequest to an existing will, this can usually be done by means of a codicil, an additional form read in conjunction with your will. If you wish to make a bequest to the Cape Philharmonic Endowment Trust, click here for a codicil form. Bequests to the CPET are exempt from the payment of estate duty in terms of section 4(h) of the Estate Duty Act, 45 of 1955. The Cape Town Philharmonic Orchestra would like to honour those who make bequests to the Endowment Trust during their lifetimes.
Contributing from outside the borders of South Africa:
For our friends and fans abroad, giving to keep symphonic music alive and flourishing in South Africa is possible by following these steps:
Remittance of USD to CPET account held at Investment Private Bank in South Africa. To ensure that your remittance is completed promptly and efficiently, please follow the procedure here.