Tuesday, October 20, 2009

Financial picture sitll cloudy for Seattle Symphony

Yesterday's Seattle Times article on Susan Hutchison contained a fair amount of information about the financial health of the Seattle Symphony. According to this report the orchestra closed its fiscal year on August 31st with a $1.2 million deficit and the accumulated debt at $4 million. The operating budget of the Seattle Symphony is $23.7 million and its endowment stands at $22.7 million. Over the past few years the orchestra has received millions of dollars from the city of Seattle and the Simonyi foundation, and the musicians have given back $3.2 in wage and benefit concessions.

Apparently, Hutchison did a fine job in leading the effort to secure more donations to the orchestra and that helped to stem a lot of the fiancial bleeding. Now Hutchison has left the Seattle Symphony and is the executive director of the Charles Simonyi Fund for Arts and Sciences and she's running for the King County executive office.

No comments: