Deborah Borda, center, with Jaap van Zweden, left, the orchestra’s next music director, and Oscar Schafer, its chairman.CreditRebecca Smeyne By Michael Cooper | Dec. 12, 2017
In a show of donor confidence in its new leadership, the deficit-challenged New York Philharmonic announced Tuesday that it had raised $50 million to help it balance its budgets in the coming seasons as it rolls out its next music director, Jaap van Zweden.
The rapidly raised $50 million was a coup for Deborah Borda, who has been the orchestra’s president and chief executive officer for only a few months but is already putting her stamp on the organization. Ms. Borda has pushed the Philharmonic to rethink the costly and disruptive plans to rebuild its Lincoln Center home, hired a new executive team, and turned her attention to the shaky finances of the orchestra, which has run deficits for most of the current century.
“This really strengthens us,” Ms. Borda said of the recent gifts, which she said had come from longtime supporters of the Philharmonic, whom she did not identify. “It gives us a fantastic launchpad.”
In a show of donor confidence in its new leadership, the deficit-challenged New York Philharmonic announced Tuesday that it had raised $50 million to help it balance its budgets in the coming seasons as it rolls out its next music director, Jaap van Zweden.
The rapidly raised $50 million was a coup for Deborah Borda, who has been the orchestra’s president and chief executive officer for only a few months but is already putting her stamp on the organization. Ms. Borda has pushed the Philharmonic to rethink the costly and disruptive plans to rebuild its Lincoln Center home, hired a new executive team, and turned her attention to the shaky finances of the orchestra, which has run deficits for most of the current century.
“This really strengthens us,” Ms. Borda said of the recent gifts, which she said had come from longtime supporters of the Philharmonic, whom she did not identify. “It gives us a fantastic launchpad.”
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