The Colorado Springs Symphony Orchestra Foundation has given $500,000 to the Bee Vradenburg Foundation to disperse in support of the Colorado Springs Philharmonic.
CSSO Foundation Board Chair Mary Ellen McNally said transferring the money to the Bee Vradenburg Foundation was the “perfect” way to ensure responsible management and disbursement of money in future years.
The Bee Vradenburg Foundation supports a number of community cultural and artistic organizations.
Annual payments made from the fund – initially about $25,000 – will be made to the Colorado Springs Philharmonic or any successor organization.
Established in 1990, the CSSO Foundation provided financial support for the former Colorado Springs Symphony Orchestra.
At its peak, the CSSO Foundation had assets of about $2 million, but near the demise of the symphony, CSSO Foundation assets had subsided and have since remained tied up during bankruptcy proceedings.
Earlier this year, the CSSO Foundation granted $27,000 to the Colorado Springs Philharmonic, its first grant to the organization.