Milwaukee Symphony reports $2.3 million deficit

Posted on: November 22, 2010

In Friday’s (11/19) Milwaukee Journal Sentinel, Jim Higgins writes, “The Milwaukee Symphony Orchestra reported a $2.3 million deficit for fiscal year 2010 Thursday, fueled largely by a 20% drop in contributions from donors over the previous fiscal year. Contributed revenue was down 16.5% from what the symphony had projected for the fiscal year. The orchestra finished its fiscal year on Aug. 31, with operating expenses of $16.9 million and operating revenue of $14.6 million. Don Tyler, MSO interim executive director, said he has set up a special working group drawn from the board and staff to attack the deficit tactically. They will work on cost-cutting and fund raising, as well as seek opportunities for more revenue, he said. Simultaneously, the Greater Milwaukee Committee has launched a task force, led by Bill Haberman, to help the MSO develop a plan to help keep it financially sound. … The MSO saw annual campaign contributions drop from $4.8 million in fiscal year 2009 to $4 million in 2010, and special one-time contributions dropped from $1.9 million in 2009 to $1.2 million in 2010.”

Posted November 22, 2010