Economy took toll on symphony's artistically bright year
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The economy has been playing the role of Scrooge, causing the Pittsburgh Symphony Orchestra's board chairman to reference another Dickens novel.
"Artistically this is the best of times, financially it is the worst of times," said Richard Simmons ahead of his speech at the orchestra's annual meeting last night.
"I have been associated with the symphony for 20 years and I can't recall when the orchestra sounded better. But this year we will lose $100,000 from [the Regional Asset District], we don't know how much if any we will get from the state and our endowment is down, even with the stock market up. We have lots of work to do," he said.
In recent years, the PSO has received $2.5 million from the state.
In the fiscal year 2008-09, which ended Aug. 31, the PSO will have a budget deficit of roughly half a million, despite cutting 11 administrative positions for an estimated annual savings of $350,000. The delay in the state budget also played a role; it meant a special corporate tax deduction for corporations giving to nonprofits was not allowed, costing the orchestra $300,000. A late $100,000 challenge grant issued by the board, PSO president Lawrence Tamburri and music director Manfred Honeck helped to close the gap by asking individuals to pledge $200,000 in additional gifts to the annual fund.
But all was not Bleak House with the PSO last season. The orchestra's budget increased to about $32 million, reflecting the international tour it took to China last season. There were 1,747 new or restored gifts to the annual fund, totaling around $279,000. And overall ticket sales did not decline, which Tamburri considers a triumph in the turbulent economy.
BNY Mellon Grand Classics series played to about 80 percent capacity last season, with 116,093 tickets sold and $2.84 million raised, up from 115,724 and $2.8 million in 2007-08. But that was tempered by a downward trend with its PNC Symphony Pops, with 67,500 tickets sold and $2.76 million raised, down from 70,000 and $2.82 million in 2007-08.
"Pops is more related to the economy than classical," Tamburri said.
Other good news is that the PSO has raised roughly $55 million toward its $80 million capital campaign last season despite the economic climate.
"We are all very optimistic," said Tamburri. "For what we can control we haven't lost ground. For what is out of our control is more difficult."
"We are committed to maintaining a world-class orchestra and we are going to find a way to do that," said Simmons.
First Published October 15, 2009 12:00 am
