The Indianapolis Symphony Orchestra has released its annual report for fiscal year 2018, which shows a 7.8 increase in ticket sales and a 4.1 percent increase in contributed income as compared with the previous fiscal year in 2017. The orchestra reported a general operating loss of $964,000 on total operating income of $26.9 million. Overall attendance totaled 280,138 patrons, and nearly 10,000 new households attended ISO concerts during the year. ‘The most significant lesson from FY18 is that in recent years, the ISO budget has relied on unrealistically aggressive sales and fundraising goals,’ said Chief Executive Officer James Johnson. ‘For the 2019 fiscal year, we have reset the course. First, the ISO is making more conservative revenue forecasts while reducing expenses. Secondly, we are taking advantage of opportunities to invest in projects that will generate more income.” In a press release, the orchestra said that for FY19 Johnson and the ISO senior management team identified and cut programs, events, and projects that use the ISO’s resources without contributing significantly to the bottom line—or the orchestra’s core mission. Changes to the Kroger Symphony on the Prairie summer series will bring in more performances and “new enhancements to the patron experience,” the orchestra said.
Posted December 19, 2018