Charlotte Symphony draws $2 million from emergency campaign

Posted on: December 8, 2010

In Tuesday’s (12/7) Charlotte Observer (North Carolina), Steven Brown reports, “The Charlotte Symphony needed $2 million from an emergency fund drive to help it pay its expenses during the 2009-10 season, its recently completed audit shows. The infusion from the emergency campaign, launched in summer 2009, covered nearly a fourth of the orchestra’s $8,119,833 expenses for last season, the audit shows. The season ended June 30. … The orchestra has been struggling with deficits since the 2002-03 season. The recession intensified the financial troubles, especially by squelching contributions from businesses facing their own hardships. The orchestra reduced expenses in a variety of ways … The challenges intensified in May 2009, when the Arts & Science Council—whose fundraising also has suffered from the recession—announced it would reduce its support of the orchestra by $1 million a year. Soon after that, the orchestra launched its emergency drive, seeking $5.7 million for a multiyear bridge fund to help the orchestra pay its bills while it works to increase its ticket sales and donor base. … When the 2009-10 season began, [Executive Director Jonathan] Martin said, the orchestra expected to use about $1,750,000 million from the fund.”

Posted December 8, 2010