KEXP/Seattle Gets $10 Million Bequest

$10 Million Bequest

FRIENDS OF KEXP Triple A KEXP/SEATTLE has received a bequest of almost $10 million from a donor known only by her first name, SUZANNE.  The donor requested anonymity for her donations during her lifetime, a request being honored for the bequest as well.  The funds are being placed in a long-term reserve and an endowment directed by the board; KEXP is also establishing a new program for encouraging bequests, the Reverb Society.

"KEXP is a community-centered nonprofit, and it’s always been powered by individuals who support it in any way they can. Making this gift was SUZANNE’s way of helping to secure a bright future for KEXP’s mission to make lives better through music,” said KEXP Chief Content Officer KEVIN COLE. “We intend to honor her legacy in every step we take in stewarding these funds. SUZANNE’s love of music, her support for artists, her sense of philanthropy and service to the community, and the joy she found in exploration and discovery will live on in the programs and services that are made possible through this amazing and generous gift."

KEXP Exec. Dir. TOM MARA said, "The efforts we’re launching as a result of Suzanne’s generosity will impact thousands of lives,  We’ll be reaching into new communities that have historically been under-served by KEXP programs, working more with schools and youth-focused nonprofits, and providing more opportunity for hands-on experience with music and media skills for artists and young people. It’s our fundamental belief at KEXP that music makes our lives better. And this gift means we’ll be getting more music into more people’s lives than ever before, and in profoundly impactful ways.”

"SUZANNE was the rare and wonderful person that any of us would feel lucky to have in our lives, even if only briefly,” said KEXP Dir./Development BETSY TROUTMAN. “SUZANNE was a lover of music who understood her blessings, and a generous supporter of everything she found beautiful in life. I’ll never forget what she told me about her decision to make a significant gift to the KEXP New Home campaign -- ‘I'm not sure the wattage can bring the sound up to Heaven so we may as well do what we can to enjoy the music today!’”

“This gift inspired a good dose of introspection and an even greater dose of planning,” said KEXP Board Development Committee Co-Chair JILL SINGH. “We’ve been working with staff, strategic planners, and community members to develop a fiscally-sound strategy. We are committed to being responsible stewards of this generous gift, and dedicated to a plan that allows the impacts of this gift to be felt by KEXP and the music lovers and artists we serve for decades to come.”

“KEXP’s commitment to our donors is to responsibly invest their generous contributions into our work and to carefully manage the organization for long-term financial sustainability,” said KEXP Board Development Committee Co-Chair SCOTT REDMAN. “We have historically set aside a portion of donations to our annual fund into a reserve or rainy-day fund. SUZANNE’s amazing gift has ensured that our reserves are now sufficient, which means that the generous gifts from all of our other 18,000 annual donors will be invested directly into our mission.”

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