Los Angeles Philharmonic Receives $20 Million Gift

Los Angeles Philharmonic Receives $20 Million Gift

The has announced a $20 million pledge from David C. Bohnett in support of institutional programming.

Made in honor of Deborah Borda, who has served as president and CEO of the orchestra since 2000, the gift will establish the $10 million David C. Bohnett Presidential Fund for Discovery and Innovation, which will provide assistance for programs at the discretion of the president, including investments in new audience development initiatives. The remaining $10 million will endow the David C. Bohnett Presidential Chair in perpetuity.

"It's a privilege to honor Deborah Borda's fifteen years at the helm of our extraordinary institution by endowing the David C. Bohnett Presidential Chair," said Bohnett. "A formidable executive as well as a close friend, Deborah has forever changed the landscape of music in L.A."

Bohnett, a former board chair of the Los Angeles Philharmonic Association, founded GeoCities, an early Internet-based e-commerce company, which was later acquired by He currently chairs the and manages a portfolio of early stage technology investments through his private equity firm, .

"Now is the ideal time for us to broaden support for the present and future needs of the Los Angeles Philharmonic," said Bohnett. "I encourage others to join me in ensuring that the orchestra, an innovative cornerstone of the arts across the nation, continues to enrich the lives of our diverse community for many years to come."

"." Los Angeles Philharmonic Press Release 12/10/2014.