“The Nashville Symphony narrowed its operating loss in fiscal 2015 and is on track to grow its ticket sales by more than 10 percent this year,” writes Geert De Lombaerde in Thursday’s (11/12) Nashville Post (Tenn.) “President and CEO Alan Valentine and his team last year struck a debt restructuring deal to avoid a bankruptcy filing and foreclosure sale of the Schermerhorn Symphony Center. On Thursday, they said their work to restore the orchestra’s health is on track: Operating losses before debt service fell to $732,000 from $2.4 million the year before — and $11 million in fiscal 2013—while the association paid down $650,000 in debt and grew its cash position by $1 million to more than $9 million…. Valentine said, ‘These positive numbers affirm the tremendous support that we have received from the Nashville community in recent years and validate the hard work taking place at every level of our organization to restore the Nashville Symphony to full financial vitality.’ … Ticket sales are on pace to rise to nearly $10 million in fiscal 2016, up from $9 million this past year…. Valentine and his team are on track to reach their annual fundraising goal of $7.8 million.”
Posted November 16, 2015
