The St Louis Symphony posted good results last night. Audiences up, revenues and donations likewise.
Most striking was the endowment news. The irch has $223.2 million in the vaults, up five percent due to ‘significant donor contributions and earnings on investments.’
That’s St Louis, not a major city.
Why is it that major orchs in London, Paris, Berlin struggle to break $10 million in endowments?
It’s the best hedge against bad times ahead. But in Europe we still expect governments to bail us out.