Australian Chamber Orchestra reports $1.5 million surplus

Posted on: May 3, 2012

In Thursday’s (5/3) Australian, Matthew Westwood writes, “The Australian Chamber Orchestra has again had a record-breaking year, making an operating surplus of $1.5 million last year. The result is boosted by another $1.3m in donations—including $1m from long-term supporter Peter Weiss—to the orchestra’s instrument fund. Those gifts take the total surplus to $2.8m. The company now has more than $12m in reserve, including past earnings, and is saving for its possible move to Pier 2/3 in Sydney’s Walsh Bay arts precinct. … Artistic director Richard Tognetti led the orchestra on tour to 11 countries [last season]. While sponsor income declined slightly, the ACO’s box office rose to $5.96m. Total revenue was almost $15m, 14 per cent of which was government grants. … [General manager Timothy] Calnin says the ACO could have even greater community involvement if it moves from its underground bunker at Circular Quay to the proposed arts centre at Pier 2/3. The ACO is one of six companies shortlisted by the NSW government for relocation to the proposed redevelopment.”

Posted May 3, 2012