At the Minnesota Orchestra, a balanced budget and a gift from musicians

Posted on: December 3, 2015

“One of the last vestiges of the Minnesota Orchestra contract dispute of 2012-14 has been resolved,” writes Graydon Royce in Wednesday’s (12/2) Star Tribune (Minneapolis). “The Musicians of the Minnesota Orchestra, a nonprofit organization formed by players who were locked out for 16 months, has been dissolved and its funds have been given to the Orchestral Association. The $250,000 gift was reported Wednesday, the same day that the orchestra reported its fiscal 2015 results…. Given to the association in memory of orchestra advocate Lee Henderson, the gift will support education and community programming…. The orchestra reported Wednesday a slim surplus of $15,000 on expenses of just more than $31 million. That compares with a deficit of $650,000 the previous fiscal year—a season that was shortened to seven months by the labor dispute. Fundraising played the largest role in the success. Total contributions … were $18.1 million, compared with $10.5 million the previous year.… The organization drew $4.5 million from its investments to help balance the books. Total investments fell to $141 million from $164 million, the result of a decision to retire long-term debt of $9.3 million as well as poor market performance.”

Posted December 3, 2015

Pictured: Osmo Vänskä leads the Minnesota Orchestra, March 2014.