History of the Foundation
After the passing of Mr. Etsuro Nakamichi on November 10, 1082, the E. Nakamichi Foundation was funded by a cash contribution of $80,837 and common stock of Nakamichi Corporation valued at $5,182,461 in Japanese over-the-counter market at that time.
The founding of a California non-profit organization of this magnitude by a Japanese citizen was unprecedented. For this reason, it took approximately three years to receive proper tax clearance from the Japanese tax authorities.
The Foundation began its operation as a 501(c)(3) nonprofit organization on February 7, 1985 and made its first grant in 1986. Since then, the Foundation has awarded grants in an aggregate amount of over $14 million
During the initial 30 years of operation, the Foundation emphasized the support of baroque period music performances. In 2016 the Foundation shifted our support to the performances of music by Classical and Romantic period composers.