Pittsburgh Symphony receives $6.5M to address budget challenges

Posted on: March 28, 2017

“Heinz Endowments has approved a $5 million grant to be used over a five-year period to support the Pittsburgh Symphony Orchestra’s restructuring of its business plan, increasing revenue, and attaining financial stability,” writes Marylynne Pitz in Monday’s (3/27) Pittsburgh Post-Gazette. “The other two grants include $1 million from The Benter Foundation over the next four years, and $500,000 from the Eden Hall Foundation that will be used as a challenge grant ‘to inspire donors at the $5,000 level and above to increase their giving levels,’ PSO officials said. PSO management has already taken cost-cutting measures to help toward its recovery plan. A two-month strike that ended in November resulted in $3.6 million in musicians’ wage concessions over the life of the contract, and the PSO has slimmed down its already lean administrative staff…. PSO president and CEO Melia Tourangeau, who was hired at a $400,000 salary, has taken a 10.5 percent pay cut…. The Heinz Endowments said its funding contribution ‘is a recognition of the compromises made by management and the orchestra to address the current financial situation, and because of our belief in the course set by management to ensure fiscal responsibility and symphonic excellence,’ said Grant Oliphant, Endowment president.”

Posted March 28, 2017