Here is my Friday October 22, 2010 Chicago Sun-Times and suntimes.com article on the 2010 annual meeting and 2009-2010 financial report of the Chicago Symphony Orchestra Association.
In hard economic environement, CSO holds its own financially in 2009-10
As it awaits the recovery and return of Riccardo Muti, its temporarily sidelined music director, the Chicago Symphony Orchestra's parent association gathered Thursday afternoon at Orchestra Hall to celebrate a strong financial report from its last fiscal year.
Despite a recession-hit economy, annual fund support from more than 13,500 donors totaled $21.6 million, a 3 percent increase over the previous year. For the fourth consecutive year, the CSO balanced its books, this year on an operating budget of $61.6 million, and showed a small surplus of $41,000. An additional $3.5 million in gifts to the CSO's endowment of $205 million brought total giving last year to a little more than $25 million.
Muti is on the mend, said CSO board chairman William A. Osborn, who received a call Thursday from Muti from his home in Ravenna, Italy. The conductor told him he had no serious health problems beyond the effects of exhaustion diagnosed earlier this month. Muti also reiterated that his primary commitment is to Chicago and the CSO, and that he would be curtailing some of his other activities.
Ticket sales for all CSO and other Symphony Center Presents concerts and programs were off $100,000 from last year's $20.7 million. Even so, that figure amounts to the third best season in CSO history, and it marks the fifth consecutive year to exceed $20 million in ticket sales.
The Beethoven Festival conceived and led by outgoing principal conductor Bernard Haitink was a clear shot in the arm, "far surpassing expectations," said CSO Association president Deborah F. Rutter. Capacity for the concerts averaged more than 96 percent and ticket sales amounted to almost 10 percent of the whole season's sales.
Subscription sales showed signs of the economic downturn, dropping 7 percent from the previous year. But unusually strong single-ticket sales, a boost of 3 percent, brought the CSO subscription series attendance to more than 82 percent paid capacity.
Last season, the CSO Association presented more than 260 musical programs, including 162 CSO concerts and 50 Symphony Center Presents events. More than half a million people attended these programs, and 388,619 tickets were sold for the 211 ticketed concerts.
Newer initiatives had strong results with the CSO's Beyond the Score concert and narration series increasing its subscriptions by 28 percent and increasing ticket sales over all by 66 percent after the doubling of concert dates.
Investment returns helped to increase the endowment by 11 percent. Ticket sales and other earned revenues made up 47 percent of income with tour fees, merchandise and CD sales, space rentals, and recording fees and royalties bringing in 53 percent.
Osborn was re-elected as Association chairman, with Joyce T. Green and Robert A. Kohl joining the ranks of five vice chairs.
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