September 12, 2016; Denver Business Journal
Maybe it’s a bit of a late bloomer, but the Colorado Symphony has finally ended a fiscal year with a real budget surplus. Not only does it have $1.7 million in the bank, but it has accumulated a number of commitments toward a permanent endowment, the goal of which is $50 million. This is a big change from a year ago, when it boasted only $7,000 in cash, and a world away from 2011 when 20 members of the board of the Colorado Symphony association had resigned during a labor dispute. It had run a deficit of $1.2 million in the previous fiscal year.
A new management team and a new board, along with an engaged orchestra revitalized the institution. According to the Denver Post, “the Colorado Symphony now plays the eighth-biggest concert schedule of any orchestra in the United States.”
“This is a momentous time for the Colorado Symphony,” said symphony CEO and board co-chair Jerry Kern. “We’re in our best fiscal position to-date with an unprecedented budget surplus, and the staff, donors, musicians and board are more unified than ever in reaching our artistic and financial goals.”
But the symphony’s f