Orchestra Posts Balanced Budget, Increased Ticket SalesPosted: Updated:
The Indianapolis Symphony Orchestra says it has achieved a balanced budget for the second straight fiscal year. The organization says income from ticket sales jumped more than 15 percent compared to the previous year.
December 8, 2014
Indianapolis, Ind. -- The Indiana Symphony Society (ISS) released its audited financial results for the 2013-2014 season during its Annual Meeting held today at the Hilbert Circle Theatre. Board Chair Martha Lamkin reported that the Society achieved a balanced budget for the second consecutive year and saw considerable growth in ticket sales and operating revenue.
The annual results were particularly encouraging in the area of ticket sales. Overall earned income from ticket sales grew 16 percent over the previous fiscal year. Total ticket sales to ISO performances at the Hilbert Circle Theatre grew 18 percent, and the number of subscribers to the classical and pops series grew by 30 percent – the highest level since the 2008-09 season. The ISO's efforts to attract younger audiences also paid off, as the ISO sold 6,569 student tickets for FY14 – a 50 percent increase from last season and the most student tickets ever sold in a single season.
In addition, the ISS reviewed artistic highlights of the season, which was Krzysztof Urbański's third season as ISO Music Director, and recognized Lamkin for her board leadership. The ISS Board of Directors elected Vince Caponi to serve as Chair. Caponi became Executive Chairman of the Board of Directors of St. Vincent Health in July 2013 after 15 years as its Chief Executive Officer. A noted community leader, Caponi serves on many local boards including the Indiana Hospital Association, Central Indiana United Way, Little Sisters of the Poor and the Indiana State Chamber of Commerce.
"The success of the past season was the result of many contributing factors," said Lamkin. "We have the outstanding artistic leadership of Krzysztof Urbański, Principal Pops Conductor Jack Everly's outstanding programming, a first-rate Orchestra, our innovative artists-in-residence Time for Three, engaging music education initiatives through the Metropolitan Youth Orchestra and Discovery Concerts, renewed interest from our audiences in attending, subscribing and donating, and a greater commitment to reach underserved audiences in our community. I am confident that the momentum will continue under new Board Chair Vince Caponi."
"The results of our recently completed fiscal year reaffirm that the ISO is delivering on its mission of providing our community with a broad range of musical performances of the highest quality, with strong fiscal management," said Chief Executive Officer Gary Ginstling. "We are grateful that our community is embracing the ISO by coming to our performances and supporting the institution philanthropically."
The ISS also celebrated a number of new initiatives to share orchestral music with more members of the community, a goal for the year. The 2013-14 season opened with the ISO's first ever free "Community Day" at the Hilbert Circle Theatre, and more than 1,100 patrons enjoyed the day-long celebration of music-making, activities and a free concert with Maestro Urbański and the ISO. The ISO also introduced a series of one-hour concerts to its summer schedule, which was designed to engage the downtown crowd during the lunch hour. The ISO's Lunch Break series featured great classical masterworks in an informal environment, as patrons were invited to eat lunch while they enjoyed the concert.
The ISS Annual Meeting included a keynote address from John C. Lechleiter, the Chairman, President and Chief Executive Officer of Eli Lilly and Company, whose remarks were entitled "The Arts: An Investment in the Future of Indianapolis."
The ISO's 2013-2014 Financial Summary, ending Aug. 31, 2014
--The ISO posted a general operating surplus of $266,255.
--The ISO's total operating revenue for FY14 was $23.5 million, up 1.4 percent from FY13, while total expenses of $23.26 million increased only 1.3 percent.
--The ISO had another successful fundraising year in FY14 with more than $9.73 million in contributions.
--FY14 ticket sales were particularly encouraging, with earned income from ticket sales increasing by 16 percent over FY13.
--Subscription sales for classical, pops and family concerts increased 30 percent in FY14, and subscriptions were at their highest level since FY09.
--Total number of tickets sold for the ISO's concerts at the Hilbert Circle Theatre increased by 18 percent over the prior year.
--The outdoor concert series, Marsh Symphony on the Prairie, achieved a 15 percent increase in ticket sales over the prior year.
Artistic Highlights of the 2013-2014 Season
Led by Music Director Krzysztof Urbański, the Lilly Classical Series was highlighted by ISO premieres of Strauss' monumental Alpine Symphony and G?recki's Symphony of Sorrowful Songs. Maestro Urbański's other memorable performances included Stravinsky's The Firebird, Dvoř?k's Ninth Symphony, Verdi's Requiem, and to conclude the season, a complete performance of Ravel's Daphnis et Chlo? with Dance Kaleidoscope at Clowes Memorial Hall.
Last year, the ISO announced the contract extension of Principal Pops Conductor Jack Everly through the 2022-2023 season. Maestro Everly's commitment to giving full-orchestra power to the pops and Broadway genre continued last season in the Printing Partners Pops Series, highlighted by two world premieres: Cole Porter's Anything Goes and On Broadway with Kander & Ebb.
The ISO's artists-in-residence, Time for Three, created one of the most musically-diverse Stella Artois Happy Hour at the Symphony series yet –with rap artists, percussionists and folk artists on stage alongside the trio and Orchestra for concert experiences like none other.
For an online copy of the 2013-2014 Annual Report, click here.
ISO Recognized Musicians and Staff with 25 Years of Service
The Society recognized Principal Flute Karen Moratz, Principal Bassoon John Wetherill and ISO librarian Susan Grymonpr? for 25 years of distinguished service.
Elections to the ISS Board of Directors
The Society elected the following individuals to the Board of Directors:
Fred Crawford, Executive Vice President and Chief Financial Officer, CNO Financial Group
Phil Kenney, President, Wilhelm Construction
David Kleiman, Partner, Benesch Law Firm
Greg Loewen, President, Emmis Publishing
Zeb Portanova, Black Belt, Lean Six Sigma, Eli Lilly and Co.
Natalie Schneider, VP Consumer Experience, Anthem
Christopher Slapak, Vice President of Early Phase Research, Eli Lilly and Co.
Bio – ISO Board Chair Vince Caponi
Vincent Caponi serves as the Executive Chairman of the Board of Directors of St. Vincent Health located in Indianapolis, Indiana. St. Vincent Health is a member of Ascension Health, the nation's largest Catholic and not-for-profit health system.
Prior to assuming the Executive Board Chair position in July of 2013, Mr. Caponi served as the CEO of St. Vincent Health for 15 years and for four years as the Ministry Market Leader for Indiana and Wisconsin. During this tenure, he led the integration of six critical access hospitals, St. John's Health System in Anderson, the St. Vincent Heart Center of Indiana, St. Vincent Women's Hospital, and St.Vincent Medical Group into a comprehensive health network. Also, he oversaw the addition of the Peyton Manning Children's Hospital at St. Vincent, Seton Specialty Hospital, St. Vincent Hospital Fishers, in addition to multiple joint ventures, program developments, hospital expansions, and affiliations with healthy providers and community partners.
Prior to joining St. Vincent Health, Mr. Caponi served as the President and CEO of St. Vincent's Hospital in Birmingham, Alabama. Earlier in his career he served as the President and CEO of St. Joseph Hospita