Endowment and Incorporation

      The Williamsburg Music Club, Inc. Endowment Fund ensures continuity of Awards Programs assisting young musicians in the further development of their talent. Only the earnings from the Endowment Fund are available for awards so the principal of the contributions to the Fund is protected in perpetuity. The Fund, initiated by a generous gift from club member, Kathleen Exton, is invested in a balanced portfolio and has grown from $5,000, in 2004, to $150,000 as of the end of the last fiscal year, becoming a strategic contributor to our mission to develop young musicians residing in Williamsburg, James City County, or York County or are members of Williamsburg Youth Orchestra (WYO). Recipients of WMC, Inc. awards have received national and international recognition.

     Gifts or bequests to the Endowment Fund ensure a lasting legacy for young music students residing or attending school in Williamsburg, James City County or York County, plus members of the Williamsburg Youth Orchestra (WYO).  Gifts of cash, stocks and bonds are eligible for tax deduction in accordance with IRS 501 (c) (3) regulations and may be sent to:

      The Williamsburg Music Club was incorporated on March 2, 2020, and became Williamsburg Music Club, Inc., for the purpose of receiving, maintaining, and administering assets in perpetuity exclusively for charitable and educational purposes. Major points of the Articles of Incorporation follow:

• The Board of Directors (BOD), per the Bylaws, includes six directors who may hold office for a term of three years.
• The members of the club elect Directors at the "annual" meeting, in April.
• The BOD elect Officers including a President and Secretary.  Other Officers, including one or more Vice-Presidents; Treasurer and assistant; and subordinate Officers may be elected by the BOD.  These Officers shall hold office until the next annual meeting of the BOD.
• The BOD, by a majority, may establish standing or special Committees.
• The President shall be responsible for general management and direction of the business and operations of the Club, subject only to the authority of the BOD.
• The Secretary shall take minutes of all meetings; see that all notices required are given and sent to club members; shall keep and affix the club's seal to all documents; keep the Articles of Incorporation, Bylaws, and important documents.
• The members shall have the exclusive power and voting rights to amend, repeal or restate the Corporation’s Bylaws and to elect, appoint and remove directors.  New WMC, Inc. Bylaws will be voted on by a quorum during a future in-person meeting.
• Upon dissolution, the BOD shall convey any remaining assets to a tax-exempt organization or organization(s) chosen by the BOD.