Indy posts big lossmain
When an orchestra trumpets its educational efforts at the head of its annual report, the eye is drawn instantly to the bottom line. Sure enough, it’s red.
The Indianapolis Symphony Orchestra has reported ‘a general operating loss’ of $751,000 for the 2019 financial year.
Total operating income was $27.4 million.
CEO James Johnson said: ‘Last summer, we began an unprecedented program to evaluate and, as needed, change every aspect of the way we do business. As a staff and board, we are engaged in better planning, collaboration among and across departments, open communication, greater accountability, and fiscal transparency. Our financial reporting and planning will take a heightened priority to assure that we are thoughtful and disciplined in continuing our tradition of providing the highest caliber performances throughout this remarkable community.’
Other priorities: They need to replace music director Krzysztof Urbański who leaves in 2021, and they still don’t have a concertmaster.
Work in progress.