Detroit Symphony Balances Budget With Record-Breaking Fundraising

Classic Arts News   Detroit Symphony Balances Budget With Record-Breaking Fundraising
 
The Detroit Symphony Orchestra balanced its budget for the second straight year, the Detroit Free Press reports.

The orchestra posted a surplus of $100,000 on a budget of $28.7 million for the 2004-05 season.

The orchestra raised a record $12.2 million in its annual-giving campaign, an amount greatly helped by a $1.5 million challenge grant from board chair Jim Nicholson, former board chair Peter Cummings, and Sam Frankel.

In August, the orchestra reported increased attendance and ticket sales for 2004-05.

The DSO still faces financial challenges. The past two seasons have seen the orchestra's expenses severely limited, including a pay cut for musicians, in order to address a $2.2 million deficit. This season, the musicians' salaries increase by a total of nearly $1 million, and their current contract runs out after the 2005-06 season.


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