Nashville Symphony dips into endowment for flood repairs

Posted on: September 15, 2010

An Associated Press article posted Tuesday (9/14) on the website for Memphis, Tennessee’s ABC News Channel 3 states, “Downtown flooding that damaged the Nashville Symphony’s hall has caused the orchestra to use some of its endowment funds to pay for repairs. The Schermerhorn Symphony Center was swamped with 24 feet of water when the Cumberland River overflowed its banks following heavy rain May 1-2. The Tennessean reported that repairs to the hall are expected to take until January and cost as much as $39 million. The symphony has about $70 million in endowment. Money used from the fund would be replaced by future donations and federal flood assistance, which has not yet arrived. The symphony has already dipped into the fund by about $10 million.”

Posted September 15, 2010