NAMM drives the future of music with a historic $10 million endowment

NAMM (The National Association of Music Merchants) and The NAMM Foundation have announced the creation of an initial $10 million endowment, made possible by a decade of contributions from NAMM, the growth of its investments, and a transformative $2 million bequest from music advocate Margaret Darby.

The combination of these funds has resulted in a new board-designated endowment for The NAMM Foundation, representing a first step toward long-term stability while enabling a consistent global impact on the music community.

"This endowment initiative establishes perpetual support for the lasting impact of The NAMM Foundation in advancing music making at every level and in every community", said John Mlynczak, President and CEO of NAMM. "This historic achievement is made possible by the generous support of those who came before us, and we will grow this fund to ensure that those who come after us continue to benefit".

The time has come to establish an endowment that supports our vision for the future of the Foundation. We are creating a sustainable financial anchor for the work we are entrusted to do. Margaret Darby’s incredible $2 million bequest makes an immediate impact, and gestures such as hers ensure that The NAMM Foundation remains a strong pillar for generations to come, said Julia Rubio, Executive Director of The NAMM Foundation.

NAMM and The NAMM Foundation share a global goal to grow this fund into a fully sustainable endowment that will help finance global grantmaking programs and other Foundation initiatives that give back to the music products industry. The NAMM Foundation will continue to thrive with the support of NAMM and its members, as well as through securing donations for this new endowment.