The purpose of the foundation is to support needy orchestral musicians in the canton of Zurich and, in particular, in the city of Zurich. The foundation's purpose shall be fulfilled, in particular, by granting scholarships to young orchestral musicians residing in the canton of Zurich, by granting scholarships to young orchestral musicians residing in Switzerland, provided they study an orchestral instrument at a professional music school in the canton of Zurich, and by providing assistance to orchestral musicians who have fallen into need through no fault of their own and reside in the canton of Zurich. For the purposes of the foundation, only the income from the foundation's capital, after deducting a reasonable amount for capital preservation and administrative costs, shall be used as a rule. Exceptionally, i.e., if the foundation's purpose cannot be fulfilled sufficiently or at all from the income from the assets, and provided the competent supervisory authority agrees, the foundation board is authorized to use the capital for foundation purposes. A reduction in assets caused by a decline in the value of the foundation's securities or by other losses in the foundation's assets shall not be considered a consumption of capital. The foundation does not pursue any commercial or self-help purposes.
Outbound Leads by COHAGA