San Diego Symphony Posts $600,000 Surplus

Classic Arts News   San Diego Symphony Posts $600,000 Surplus
The San Diego Symphony ended the 2003-04 fiscal year with a surplus of $600,000 on a budget of $11 million, the San Diego Union-Tribune reports.

The orchestra's fortunes have reversed dramatically since it emerged from bankruptcy in 1998. In 2002, it received an unprecedented donation of $120 million from local philanthropists Irwin and Joan Jacobs, and has since posted three straight surpluses, according to the Union-Tribune.

Financial health has allowed the orchestra to raise its artistic profile, hiring new music director Jahja Ling and eight new principal players. Musicians' salaries have risen from an average of $29,400 a year ago to $44,000.

Executive director Edward Gill told the paper that much of the surplus could be attributed to a successful fundraising campaign.

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