Upbeat financial news from Detroit and Milwaukee orchestras

Posted on: September 27, 2012

The symphony orchestras of Detroit and Milwaukee are among those ensembles recently announcing positive financial news. The Detroit Symphony Orchestra has surpassed its annual fundraising goal of $12.32 million, a number that is higher than the $11.5 in pre-strike annual fund contributions raised in fiscal year 2010. The DSO’s fiscal year that ended in August also saw a 15 percent increase in the number of donors versus the 2010-11 season, and a 100 percent increase over the 2009-10 campaign. The Milwaukee Symphony Orchestra announced that it has achieved a balanced budget for the fiscal year ended August 31; during FY2012 the MSO also increased its donor base by 18 percent and ended the year with the highest amount of contributed revenue for operations in its history, $12 million. The MSO also restructured its balance sheet, eliminating decades of accumulated debt via a one-time transfer of endowment funds.

Posted September 27, 2012