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January 20, 2008

Baltimore finally in the black

The Baltimore Symphony Orchestra successfully balanced its books in the 2006-2007 season, ending a five-year deficit streak, the Baltimore Sun reported on Thursday. One might wonder whether the financial turnaround might be linked with the appointment of the symphony’s new conductor, Marin Alsop.

 Alsop took over as the symphony’s musical director last September, becoming the first woman to lead a major American orchestra. (The attention she received from the media caused an argument over what constitutes a “major” orchestra. Many argued that JoAnn Falletta — the music director of the Buffalo Philharmonic Orchestra since 1999 — was the first female music director. The pro-Baltimore side won in the end, with many conceding that Buffalo didn’t have the budget or location to be considered “major.”)

Alsop has planned what The New Yorker  called “a startling ambition” inaugural season. The season includes appearances by contemporary composers John Adams, John Corigliano and Joan Tower in the Composers in Conversation series. The symphony will perform with soloists Art Garfunkel, Andre Watts and Jean-Yves Thibaudet.

Although the season is impressive, the more likely reason for the financial about-face is that the symphony’s board of directors started an initiative in 2006 that called for $27 million of the orchestra’s endowment to end the symphony’s debt and create a cash reserve, according to the Baltimore Sun. A $1 million challenge grant also helped the symphony’s situation.

At the same time, contributions to the symphony increased 35 percent last year over the previous year. Perhaps the contributions were inspired by Alsop’s appointment.

posted to orchestra finances @ 7:33 pm

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