The Cleveland Orchestra announced a balanced budget, growing audiences, increased endowment, and a record number of student attendees | Article by Zachary Lewis, The Plain Dealer | December 06, 2013
For the first time in years, the orchestra on Wednesday released an annual report containing virtually nothing but good news. In fiscal 2013, the budget balanced, the endowment grew, and the audience swelled by leaps and bounds.
“The community is demonstrating confidence in us because we really have our act together,” said Dennis LaBarre, president of the Musical Arts Association, the orchestra’s governing body. “People are realizing that the orchestra is the kind of asset this community needs.”
Start with the budget. Building on the near-elimination of its deficit last year, the orchestra in fiscal 2013 balanced its books perfectly, breaking even on a budget of $48.2 million.