Indianapolis Sym responds to economic challenges

Posted on: February 13, 2009

The Indianapolis Symphony Orchestra announced that it has restructured operations by cutting expenses by more than $600,000 and eliminating eight administrative staff positions in order to achieve a balanced budget for this fiscal year. The responsibilities of seven full-time positions and one part-time position will be folded into other areas within the organization, and the ISO will create more opportunities for its volunteer force. The orchestra also has added concert promotions for 2009 to boost attendance, such as offering, for the period from January 11 to 20, remaining seats for the 2008-09 season for $25 or less, resulting in 4,700 tickets sold for $116,000 in revenue. As of December 31, 2008, the ISO’s endowment value was approximately $84 million, down 21 percent from August 31, 2008. Contributed income to the ISO’s Annual Fund is currently down by 5 percent and corporate donations and support is down by 3 percent. “We will combat these economic challenges by operating as efficiently as possible without compromising our high artistic standards,” said Simon Crookall, ISO’s president and CEO.