Indy symphony's future could hinge on donors - WDRB 41 Louisville News

Indy symphony's future could hinge on donors

Posted: Updated:

INDIANAPOLIS (AP) -- The Indianapolis Symphony Orchestra will have to convince donors that it's a good investment as part of a new business model that aims to increase annual donations about 40 percent.

The Indianapolis Business Journal reports the orchestra's endowment has shrunk to about $80 million, and ISO management wants to cut the payroll and boost annual donations to wean the organization off its reliance on the endowment.

The effort has prompted a month long lockout of the symphony's musicians as the two sides try to negotiate a contract.

The orchestra hopes to bring in more donations and grants annually instead of in a one-time rush.

Fundraising consultant Robert Swaney says the ISO will need to regain the confidence of donors and the broader community to make the plan work.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.