Sign in to follow this  
Peter

Renting violins to gifted students....

Recommended Posts

A friend of mine who is wealthy want to loan high priced violins to gifted students and wants to know how to go about this. He is not a musician but a business man who wants to make a diference in the lives of gifted young people.He has asked me about the instruments but his concern is how to connect with such students?? Any response will be appreciated...

Share this post


Link to post
Share on other sites

Contact conservatoies... music departments or universities near by... depending on where you live and how far you want to extend your program, you can decide to make the connection with the local music community or beyond. The Stradvari Society does exactly just that, and they loan out strads, del gesus, and other amazing instrumetns through various patrons. So you can suggest your friend to contact them... go visit www.stradivarisociety.com

Good luck.

Share this post


Link to post
Share on other sites

One of the ways this works, as with the Stradivari Society administered by Bein and Fushi of Chicago, I believe, is as an investment for the wealthy supporters. They contrubute money which goes to purchase the instrument, the student or performer who borrows it pays for all maintenance and insurance, and the "contributors" gain any profit when and if it is eventually sold. Bein and Fushi, I suspect, but am not sure, would be entitled to their regular commissions on any purchases or sales.

By creating a "Society" one could make this a tax-forgiving investment until and if a profit is finally taken

It looks like it offers benefits all around especially with instruments that appreciate. The Society could even become self suppoorting on the basis of continuing contribution of profits from the same of instruments, if it chose to.

Some quite well-known soloists are using instruments obtained in this way.

Andy

Share this post


Link to post
Share on other sites

Thanks for the replies. I notice that the Maggini Foundation rents instruments to students. The instruments range in value from about $50,000 to Strads. So they also have some residual income on an ongoing basis.

Share this post


Link to post
Share on other sites

Peter,

If you would like to email me, I will be happy to discuss this. I'm a CPA and an ex pro violinist. I have worked with many non-profit organizations. I also co-founded the String Instrument Connection, which is an organization that loans instruments to students who otherwise could not afford them.

We are low-budget, but with the effort of others, we have made many instruments available to help our kids. We have no Strads. Our most expensive instrument has a value of less than $15,000. We are not in it for the glory or glamor, just want to get good instruments to lots of talented kids.

I'll give you the tax info and the lowdown on the joys and pitfalls of starting such a project. Ours has been very successful.

Norm Clark

Share this post


Link to post
Share on other sites

My first question is how do you find a wealthy friend interested in stringed instruments? laugh.gif

Another related issue that has occurred to me sometimes in the past is the possibility of selling an instrument not by private sale, or auction but by LOTTERY publicly advertising and selling tickets ~ making a draw and winner gets the "prize" instrument! (This procedure would be called by a variety of names in different places and governed by laws according to the country or state in which it was conducted).

There would be many people who would pay $10 ~ $50 for the chance to own a "Strad" tongue.gif!

Anyone know if this has been done! (I know instruments have been awarded as prized in "Competitions/Concours" for instrumentalists.)

Could be benefits all round. You might raise more money than by auction! (20,000 tickets at $50.... would net $1 million) Profits could be for charity or to establish a fund for student instruments ~ which might avoid major tax problems.

Omo.

[This message has been edited by Omobono (edited 07-23-2001).]

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.