Minnesota Orchestra
Photo: Tim Rummelhoff
Strong earned and contributed revenue led to a fourth year of balanced operating results, the Minnesota Orchestra announced. The Annual Meeting celebrated the artistic and financial milestones of the Orchestra’s 2017-18 season, a year in which the Orchestra received a Grammy nomination, launched its first full-Orchestra Sensory-Friendly concert; toured to Mankato, Chicago, London and, in a first for a U.S. orchestra, South Africa—and achieved a balanced budget. Margaret Bracken was elected Board Chair by the Orchestra’s Board of Directors, succeeding Marilyn Carlson Nelson, who completed a two-year term.
Total capacity for the season reached 91 percent, up by 5 percent from 2017. Fiscal 2018 net operating results, driven by strong earned and contributed revenues, yielded a balanced budget with a surplus of $65,000
The Minnesota Orchestra’s total expenses for Fiscal 2018 were $36.7 million, an increase over the prior year’s $32.6 million. That increase was due to a few factors, including contractually-planned compensation increases and one-time expenses relating to the South Africa tour that were offset by increased fundraising.
Total earned revenue rose to $12 million—surpassing budget expectations—compared to $10.5 million in the prior year. This growth was fueled by increases in both ticket sales income and income from rental opportunities, and food, beverage and concession sales.
