Chronicle of Philanthropy Cover Story -
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Published on: 2/6/2003
Last Visited: 9/20/2008
But stock-market losses caused some people who had planned to make big gifts to put their contributions on hold, says Nicole Kagan, vice president of development.
"We are waiting a lot longer on some decisions than we thought we would need to," she says."People haven't realized the gains they had hoped for in their portfolios."
While the orchestra has no plans to scrap the campaign, she says, the delayed gifts from wealthy people made Ms. Kagan unsure about how much money she could expect from less-affluent people.
She has decided to wait until 90 percent of the campaign's goal is reached before making a public announcement, to ensure the remainder can be raised from smaller gifts.