Sunnier financial picture at North Carolina Symphony

Posted on: March 31, 2010

In Wednesday’s (3/31) News & Observer (Raleigh, North Carolina), Rob Christensen writes, “The N.C. Symphony, while still financially struggling, sees some signs of stabilizing thanks to stepped up donations and cost-saving measures. The symphony, one of the state’s major cultural institutions, still owes the bank $3.3 million toward a line of credit used for operating expenses. But fundraising is up, and costs are down. ‘There is no question that we are in a better position than we were a year ago this time,’ David Chambless Worters, the president and CEO, said in an interview Tuesday. The symphony has raised $5.8 million toward its goal of $8 million in donations to be able to tap into a $1.5 million challenge grant approved by the state legislature last year, according to Worters. … There are other positive signs, Worters said: The symphony has raised $1.73 million in contributions so far, compared with $1.31 million at this time last year. Season tickets are running 5 percent ahead of last season. … The orchestra previously implemented a series of cost-cutting measures, including a 17 percent reduction in compensation for the musicians. … The symphony plans a major fundraiser on June 8 at Meymandi Hall featuring jazz saxophonist Branford Marsalis, who is donating his time.”

Posted March 31, 2010