New York City Opera’s $11 million deficit

Posted on: June 2, 2009

“The embattled New York City Opera lost $11.3 million in the year ending June 30, 2008,” writes Philip Boroff at Bloomberg.com yesterday (6/1). “According to City Opera’s tax return, provided to Bloomberg upon request, revenue, including ticket sales and income from donations and investments, fell 23 percent to $32.9 million. Expenses jumped 11 percent to $44.2 million… The 66-year-old company’s $11.3 million deficit was its largest since at least 1999. It ran a surplus in the year ending in June 2007 of $2.8 million… Music Director George Manahan is listed as the highest-paid staff member.” Also listed are salaries for trombonist David Titcomb, who served as orchestra manager; former producing artistic director Robin Thompson; and executive director Jane Gullong, who left in fall 2008. The article explains, “The period covered by the document predates the 2008-09 season, when the company did not perform at its Lincoln Center home, citing renovations at the David H. Koch Theater.” The tax return did not disclose a salary for Gerard Mortier, who withdrew before he was to arrive as the company’s general manager and artistic director. The company’s current general manager and artistic director, George Steel, did not join NYCO until January 2009.

Posted June 2, 2009