Rasmuson estate donates $3 million to Anchorage performing arts organizations

The estate of longtime arts benefactor Ed Rasmuson made a sizable contribution to a trio of Anchorage performing arts organizations this month.

Rasmuson’s estate announced Wednesday it had donated $1 million each to endowment funds established for the Anchorage Concert Association, Anchorage Symphony Orchestra and Anchorage Opera. The long-term endowments, established at the Alaska Community Foundation, provide both annual income and a measure of continuing financial stability for the organizations.

The $1 million gift was the largest single donation any of the three organizations has received.

Anchorage Opera General Director Ben Robinson said the magnitude of the donation “knocked him off his feet.” As performing arts organizations continue to change with economic realities, he said maximizing the impact of the donation is vital.

“Nothing is certain for the arts in this time we’re in,” he said. “(There’s a) feeling that the community is at our backs, and yet even with this gift there’s so much work that really must be done in order to make sure that the arts really flourish in Anchorage.”

The Anchorage Concert Association is a nonprofit organization that presents performing arts, from plays and musicals to concerts and other staged performances. The Anchorage Symphony Orchestra is about to launch its 79th season, with a roster of 80 musicians led by musical director Elizabeth Schulze. The Anchorage Opera was formed in 1962 and has evolved into a top regional opera in the succeeding six decades.

Rasmuson, a banker who launched the state’s largest philanthropic organization, died in early 2022. The Rasmuson family earned its fortune operating the National Bank of Alaska, which became the state’s largest bank after a merger in 1960. The Rasmuson Foundation was founded in 1955.

In February 2019, Ed and Cathy Rasmuson created the endowments for the three organizations seeded with $500,000 for each group.

“The impact of endowment gifts is all about the future because that gift stays invested in perpetuity, and then the earnings are what the organization uses year after year as the fund grows,” Anchorage Symphony Orchestra Executive Director Sherri Burkhart Reddick said.

Reddick said the initial gift in 2018 was vital for the symphony as it navigated the uncertainty COVID-19 and offered a safety net as crowds returned slowly to the arts.

“We’re just thrilled and honored and grateful for the generosity that Cathy and Ed have shown to us in a variety of ways over the years,” she said. “It’s not just these kinds of gifts, but they have truly invested in encouraging the community to take philanthropy.”

Anchorage Concert Association Executive Director Jason Hodges said the gift translates into $40,000-$50,000 in annual operational funds, which allows for flexibility with staffing and programming.

“The Rasmuson family has been incredibly generous when it comes to funding arts and culture for many years,” Hodges said. “That’s what it takes to have all the great things that a great community has, the foresight of people like the Rasmusons and generous donors out there to support them and make sure that a strong, vibrant community has all the things it should have.”

The Anchorage Opera kicks off its season with Mozart in the Museum on Nov. 14, 16 and 17. The Anchorage Concert Association’s season of more than two dozen performances starts with St. Paul & The Broken Bones on Sept. 21. The Anchorage Symphony Orchestra’s opening night is Sept. 28, featuring pianist Maxim Lando.