Toronto Symphony ends 2015 fiscal year with modest surplus

Posted on: November 25, 2015

“The Toronto Symphony Orchestra announced on Monday at its annual general meeting that it posted a small surplus in its operations for fiscal 2014-15,” writes Robert Harris in Monday’s (11/23) Globe and Mail (Toronto). “The $135,781 surplus is the second in two years for the orchestra…. Revenues and costs increased in fiscal 14-15… The orchestra’s special European tour in August of 2014 … cost nearly $2 million to mount, a sum that was almost entirely covered by special fundraising efforts…. Box-office receipts showed a slight increase in fiscal 2014…. Fundraising … revenues increased … by just over $1.5 million…. Members of the board and trustees now contribute $2.6 million … Other sources of fundraising, from corporate and foundational support to individual private giving, were relatively unchanged from the year before … The accumulated deficit still hovers around the $12 million mark [but] the Symphony Foundation has $34 million in its investment coffers … and is doing quite nicely…. Keeping our major arts institutions financially healthy, and artistically vital … is an ongoing battle. It seems … that the TSO is at least holding firm in the struggle—maybe even beginning to win.”

Posted November 25, 2015