Please help to build the Endowment Trust
The Cape Philharmonic Orchestra is financially sustainable due to the loyal contributions of donors and its prudent fiscal management. It is mainly public sector donations that cover over seventy-five percent of the CPO’s annual expenses. However, if any of these donations were reduced or fell away, the CPO would be threatened financially.
Now is the time to develop the long-term insurance package for the CPO in the form of a trust. The CPET is a vehicle to build capital, from which the CPO may draw the income if and when required. If we can reach the goal of R100m the CPO should continue to exist in perpetuity. But we need you to help.
Ton Vosloo, chairman of the Cape Philharmonic Endowment Trust, feels that the hangover from the global financial crisis has characterised the pace of donor contributions to the Trust during the past financial year. “As this Trust was created to provide a legacy to ensure the future of the Cape Philharmonic Orchestra, I would appeal to donors to view their contributions as an act of philanthropy.”
Every donation to the Trust, no matter how big or small, will build the capital in the Trust. If applicable, donations can be tax-deductible. Please contribute in whatever way possible. It could be a small one-off donation, or a monthly debit order, or even a portion of your annual bonus as a gift to the Trust.
The Trustees are immensely grateful to those who have contributed so far: the CPO as founding donor, Wendy Ackerman, Ruth Allen, Sarah Christie, CTSO InvestorPlan, Harris and Tessa Gordon (in recognition of the lifelong community building role played by Shirley and Bennie Rabinowitz), Hiersh Idesis, Kay & Bovain Macnab, Klaus Pfleiderer, Densie Read, Trencor, Caroline van Zyl and anonymous donors, including one for R70,000.00.
THANK YOU TO ALL!
Join this list of donors now - Click here for easy payment methods
ALSO FIND OUT IF YOUR DONATION IS TAX DEDUCTIBLE.
Or make a bequest to The Cape Philharmonic Endowment Trust
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 Philharmonic would like to honour those who make bequests to the Endowment Trust during their lifetimes.
Contributing from outside the borders of South Africa:
Remittance of USD to Cape Philharmonic Endowment Trust bank account held at Investec Private Bank in South Africa
To ensure that your remittance is completed promptly and efficiently, please follow the procedure below:
Step 1: Provide the requisite information to Investec and to your US bank.
When transferring your USD to Investec's USD correspondent bank account, please ensure that:
- The information supplied to your bank in the US is correct
- Your funds are sent by telegraphic transfer and that this transfer is in USD
- An MT103 is sent to Investec by your US bank
Please also provide the following information:
- Beneficiary account name: Cape Philharmonic Endowment Trust
- Beneficiary account number: 10010935645
- Beneficiary bank: Investec Bank, 100 Grayston Drive, Sandton
- S.W.I.F.T. code: IVESZAJJXXX
- Correspondent bank: Citibank, NA , New York
- S.W.I.F.T. code: CITIUS33XXX
- FEDWIRE NUMBER 021000089
- Account number: 36114544
Step 2: Complete a Balance of Payments (BoP) form
Mrs Wendy Ackerman, a trustee, says:
“I am very pleased to be part of the Trust for the Cape Philharmonic Orchestra. I think it is important to have a sustainable fund for the Orchestra where we do not always have to be reliant on handouts from the State as, in problem times, the Arts are always the first to have their budgets cut."
A city the size of Cape Town needs a permanent Orchestra. It fills so many functions of which the general public is not aware. The most important of which is taking the Orchestra to areas where it is not usually heard and having workshops for the children who know very little about music. We need to educate our audience for the future by teaching them about the instruments of the Orchestra, how to play them and what to listen for in music.”
The Cape Philharmonic Endowment Trust was set up specifically to build capital from which the Cape Philharmonic Orchestra may draw the interest, as and when necessary, to ensure its financial sustainability and survival. The assets of the Trust are held in a portfolio of equities managed by Investec Securities.
The Cape Philharmonic Orchestra’s key goals are to maintain musical standards of world-class excellence and to build an orchestra and audiences of tomorrow that are fully representative of the diverse population groups of South Africa.
Trustees: Ton Vosloo (Chairman), Wendy Ackerman, Louis Heyneman, Dr Wilmot James, Christoff Pauw, Ben Rabinowitz.
Cape Philharmonic Orchestra Reg. No. 2000/014462/08
Cape Philharmonic Endowment Trust Exemption No: 930 014 371