By Todd Cohen
WINSTON-SALEM, N.C. — The Moravian Music Foundation in Winston-Salem has begun the public phase of a campaign to raise $5.75 million for endowment.
The 50-year-old foundation, formed to preserve music for the Moravian Church in America, already has secured more than $2.2 million in gifts, pledges and deferred gifts, says Bart Collins, development director.
Chaired by Allen Goslen, retired CEO of Goslen Printing, and his wife, Billie, the campaign is raising funds to endow chairs for the foundation’s director and assistant director, to build a building-maintenance endowment, and to support a revolving fund to help the foundation print and publish music and recordings.
A small share of the funds also will be used to offset any decline in annual fundraising resulting from the endowment campaign, which is advised by William Hinman Consulting in Winston-Salem.
With a staff of four people and an annual operating budget of $538,000, the foundation raises roughly $100,000 through an annual drive.
It also receives support from the Southern and Northern provinces of the Moravian Church in America, based in Winston-Salem and in Bethlehem, Pa., respectively.
And the foundation generates income from its endowment, which totals $1.5 million to $1.7 million.
TIAA-CREF and Wachovia Securities each manages part of the endowment.
The foundation also seeks grants, gifts and bequests, and generates revenue from the sale of its publications, published music and albums.
The foundation’s archives, which are housed in Winston-Salem and in Bethlehem, include over 10,000 manuscripts and pieces of music, plus hymnals from the 1500s and 1600s.
The Moravian Church in America, founded by Protestant missionaries who settled in North Carolina and Pennsylvania in the 18th century, has 41,000 members, Collins says.
The campaign is targeting donors in North Carolina, Pennsylvania and half-a-dozen other regions throughout the United States, including California and New York.
The campaign also plans to raise money through a year-long series of special events planned to celebrate the foundation’s 50th anniversary, including a concert this fall by the Winston-Salem Symphony that will feature Moravian music.
The foundation, at moravianmusic.org, is located in the Archie K. Davis Center, adjacent to the Moravian graveyard on the edge of Old Salem.