The Pacific Symphony Orchestra and Pacific Chorale are the recipients of the generous gift. Both organizations sold the stock on January 4, 1999. The balance of the Lyons' contributions can be used by each organization for annual operating support. The Endowment Funds of both organizations are invested in mutual funds. A percentage of the interest earned from such investments can be used to offset annual operating costs.
Endowments help to provide organizations with long-term financial stability.
Philanthropists Phil and Mary Lyons are noted for their support of the arts and education in Orange County. Phillip Lyons is the Chairman and CEO of Pinecreek Investment, a company which specializes in real estate investment, and Guam Cellular and Paging. The Lyons support many other arts and cultural organizations including Arts Orange County and the UCI Dean's Council for the Arts. The Chorale's artistic quality and commitment to music education are made possible in part by the Lyons' vision and belief in the organization. We value our relationship with the Pacific Symphony Orchestra, and by recognizing both Pacific Chorale and PSO with such generosity, the Lyons have again demonstrated their belief in and support of both organizations.