North Carolina Symphony hits $8 million fundraising goal

Posted on: July 1, 2011

In Friday’s (7/1) News & Observer (Raleigh, North Carolina), Rob Christensen writes, “The N.C. Symphony met its goal of raising $8 million from the community, enabling it to qualify for a $1.5 million challenge grant from the legislature. The campaign collected donations from 3,700 individuals, foundations and corporations over the past year, orchestra officials said. The philanthropic effort—along with 20 percent budget cuts that included large wage concessions from musicians—has allowed the symphony to begin to emerge from the financial problems that plagued it and many orchestras during the recession. During the past year and a half, the symphony’s debt has been reduced from $4.3 million to $1.7 million. … A key was the $1.5 million challenge grant offered by the legislature. It was the second year the legislature offered such a grant. The budget for the current fiscal year which begins today again includes a $1.5 million challenge grant. And again, the symphony must raise $8 million to receive the money. … The legislature’s inclusion of the symphony challenge grant—even as it was dealing with a $2.5 billion shortfall—shows the bipartisan support for the arts. The first two challenge grants were approved by a Democratic-controlled legislature; the most recent by a Republican-controlled legislature.”

Posted July 1, 2011