"The Cleveland Orchestra is truly one of the world's most important cultural assets, and its long-term viability is essential to the cultural vitality and economic development of our Cleveland community," said Nancy McCann, president of the foundation. "We are impressed by the orchestra's well-reasoned plan to achieve financial stability, and we want to support these efforts in a significant way."
The orchestra posted deficits of $5.9 million in 2004-05 and $4.4 million in 2003-04. At its annual meeting on November 15, the board of the Musical Arts Association, the orchestra's parent organization, adopted a plan for financial recovery that includes plans to widen its base of support beyond Cleveland and to cut costs.
The Kulas Foundation was founded in 1937 by Elroy J. Kulas, an executive at several steel and railroad companies, and his wife, Fynette Hill Kulas. The foundation has made a series of gifts to the Cleveland Orchestra, supporting its education and community activities, its assistant conductor program, and the creation of the Blossom Music Center, its orchestra's summer home.