The Indianapolis Symphony Orchestra says it raised more money during its 2012-2013 season than in any other year in its history. The organization is also reporting its first balanced budget since the 2006-2007 season.
December 9, 2013
Indianapolis, Ind. — The Indiana Symphony Society (ISS) released its audited financial results for the 2012-2013 season during its Annual Meeting held earlier today at the Hilbert Circle Theatre. The 2012-2013 season was notable as the organization raised more money than any other year in its history. In addition, the ISS reported its first balanced budget since the 2006-07 season, and reviewed artistic highlights of the season, which was Krzysztof Urba?ski's second full season as Music Director.
“After a groundswell of support from the Indianapolis community and major sacrifices from our musicians, the ISO had a milestone fundraising year and demonstrated it can operate within its means,” said Martha Lamkin, ISO Board Chair. “Together with our new Chief Executive Officer, Gary Ginstling, the ISO Board of Directors is gratified to see that our new organizational financial plan is working. As an organization we are committed to realizing Maestro Urba?ski's artistic vision, serving our community and managing the institution in a fiscally responsible manner.”
Following a five-week lockout, the Orchestra returned to the stage in mid-October 2012 under a short-term “bridge” agreement, which allowed the ISO time to raise significant funds to set a solid foundation for a new, long-term collective bargaining agreement with its musicians. Led by ISO board member Yvonne Shaheen, the “Life. It’s Better With Music” fundraising campaign raised more than $8.4 million in a 10-week period, of which $5 million came from 2,000 new donors to the ISO. The success of the campaign enabled a new five-year contract between the Society and its musicians to take effect.
“The past fiscal year demonstrates loudly and clearly that the ISO can be artistically compelling, reach broad audiences throughout the community and be successful financially,” said Gary Ginstling, CEO of the ISO. “Thanks to the efforts of so many, the organization is poised for an exciting future led by the artistic vision of Music Director Krzysztof Urba?ski and Principal Pops Conductor Jack Everly, the orchestra’s outstanding music-making, our powerful educational and community programs that reach thousands throughout our community, and our innovative genre-bending collaborations.”
The ISO's 2012-2013 Financial Summary, ending Aug. 31, 2013
• The ISO posted a general operating surplus of $235,558.
• The ISO's total general operating revenue for FY13 was $23.2 million, down 11 percent from FY12. Excluding the annual endowment draw, the total general operating revenue for the fiscal year was up 20 percent over FY12, due to the growth of the ISO’s Annual Fund and the success of the “”ife” fundraising campaign.
• The ISO had a record fundraising year with more than $9.8 million in contributions, an amount that far exceeded any previous year in the history of the organization.
• The ISO’s total general operating expenses for FY13 were $23.0 million, compared to FY12 total general operating expenses of $27.0 million – a decrease of 15 percent.
• Ticket sales totaled $6.4 million, down from $6.9 million for FY12 due primarily to the interruption in the concert schedule at the beginning of the season and inclement weather at the conclusion of the ISO’s outdoor concert series, Marsh Symphony on the Prairie.
• In March, Lilly Endowment Inc. awarded the ISO a $2 million grant to fund new seats for the Orchestra’s historic Hilbert Circle Theatre home and for fundraising and marketing initiatives.
The ISO Foundation (Endowment)
• In FY13, the Society drew $5.1 million from the Foundation. This draw of 6.2 percent of Foundation investments was a full 54 percent less than the draw in FY12.
• The ISO’s new business model calls for a more fiscally responsible annual draw from the ISO Foundation to continue going forward.
• As of Aug. 31, 2013, the ISO Foundation’s investments totaled $86.5 million.
Artistic Highlights of the 2012-2013 Season
• A Season with Music Director Krzysztof Urbanski. Maestro Urba?ski led the Indianapolis Symphony Orchestra in eight Lilly Classical Series weekends, which were highlighted by Brahms’ Symphony No. 1, Tchaikovsky’s Symphony No. 6, Beethoven’s Symphony No. 5, Stravinsky’s The Rite of Spring, Mussorgsky’s Pictures at an Exhibition, and Lutoslawski’s Concerto for Orchestra. In September of 2013, the ISO announced that Maestro Urbanski had extended his contract for four seasons, and will remain as the ISO’s artistic leader through the 2017-2018 season.
• World Premieres Featured in the Season. William Bolcom’s innovative work, Games and Challenges, featuring the improvisational prowess of the ISO’s artists-in-residence Time for Three, premiered in June. The ISO and the Baltimore Symphony Orchestra co-presented the world premiere of Hairspray: In Concert! featuring an all-star Broadway cast and the original film’s creator, John Waters. Jules Pegram from the University of Southern California won the Marilyn K. Glick Young Composer’s Showcase with his 10-minute work, Neon Nights, which premiered in the spring.
• The ISO Records with Zuill Bailey. Co-commissioned by the ISO and Barbican Centre of London, Nico Muhly’s Cello Concerto featuring Zuill Bailey received its American premiere on stage and was recorded for a new CD, set to release in 2014.
• Artists-in-residence Time for Three Achieves Success on Stage and Off. In its fourth year of residency with the ISO, string trio Time for Three (Zach De Pue, Nick Kendall and Ranaan Meyer) continued to attract new fans to symphonic music through the ISO’s popular Stella Artois Happy Hour at the Symphony programs. Since Time for Three’s artistic makeover of the series in 2008, concert attendance has more than doubled. In addition, the ISO’s residency with Time for Three received the Indiana Innovation Award for its “creative ways of honoring ISO traditions of musical excellence while engaging new audiences and expanding the capacity of the Orchestra.”
• Making Innovation More than a Buzzword. The ISO announced a two-year partnership with the New York artists-collective and record label, New Amsterdam, and kicked off the residency with NewAm co-director and composer William Brittelle’s premiere of Dunes in February. A month later, NewAm presented a special concert featuring works by Sarah Kirkland Snider, William Brittelle, Caroline Shaw and Daniel Wohl and vocalists Shara Worden (My Brightest Diamond) and Son Lux.
Educational and Community Impact of the ISO
• More than 80,000 children and adults from received inspiring musical experiences inside and outside the Hilbert Circle Theatre.
• The ISO’s Metropolitan Youth Orchestra served at-risk youth and their families by offering music instruction and mentoring opportunities to 178 students in order to instill pride and confidence and strengthen family bonds. In 2012-13, every single senior in the MYO program graduated high school, enrolled in four-year universities and stayed involved with music while studying other fields.
• Thanks to a significant gift from an anonymous donor, the ISO traveled to three Indianapolis parks this summer and presented free concerts to thousands of its residents on the north, east and south side of town.
Elections to the ISS Board of Directors
Nominated for re-election to the ISS Board of Directors for a three-year term:
Nominated for election to the ISS Board of Directors for a three-year term: