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Judith H. Dobrzynski on Culture

New Donor Gift: Allen & Co. Returns Name To JALC

Now here is something I’ve never heard of: a larger donor is giving back a naming right so that it can be resold.

JALC_font_final_001_620Yesterday, Jazz at Lincoln Center said that Allen & Co., the financial company headed by Herbert Allen that named the Allen Room, one of three performance spaces at JALC, in 2004, was giving back the right, as part of a new campaign, so the room could be resold to a new donor. Here’s what the release said:

As the organization prepares to celebrate the 10th anniversary of Frederick P. Rose Hall in its 2014-15 season, Allen & Company’s innovative philanthropic approach is intended to encourage more charitable giving to jazz.

“Allen & Company’s extraordinary contributions enabled us to complete Frederick P. Rose Hall and were a landmark moment in Jazz at Lincoln Center’s history,” said Managing and Artistic Director, Wynton Marsalis. “Ten years later, through this same selfless generosity, Allen & Company is providing an important means of financial security for the next stage of our growth.”

The Allen Room seats 550 people,  but what makes it special is its view — 50-fit-tall floor to ceiling windows that overlook Central Park. The design shares similarity with a  Greek amphitheater, with the stage below and seats ascending from there. It can be a performance space or a dance floor.

Allen paid $10 million for the rights in perpetuity in 2004, according to The Chronicle of Philanthropy. Now it should bring more.

I suppose JALC would rather have another $10 million from Allen, but I kind of like the give-back too.

 

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About Judith H. Dobrzynski

Now an independent journalist, I've worked as a reporter in the culture and business sections of The New York Times, and been the editor of the Sunday business section and deputy business editor there as well as a senior editor of Business Week and the managing editor of CNBC, the cable TV

About Real Clear Arts

This blog is about culture in America as seen through my lens, which is informed and colored by years of reporting not only on the arts and humanities, but also on business, philanthropy, science, government and other subjects. I may break news, but more likely I will comment, provide

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