In the world of endowments, Boston is king. The orchestra’s funds added a staggering $21.3M to its coffers between 2019 and 2020.
The big three
- Boston
- Chicago
- San Fransisco
Most surprising
You would have thought for glitz and glamour in the SoCal sunshine, La Phil would land in the top three. But according to the data, San Francisco’s smaller-town feel with big-name sights makes them the wealthier orchestra.
Why endowments matter
Endowments were first used to subsidize operations and provide long-term stability. The trick has served the oldest orchestras well. Not only do they allow orchestras to generate extra income in good times, but they also offer leverage to help protect them in deficit years.
Michael Vincent is the Editor-in-chief Ludwig Van and CEO of Museland Media. He publishes regularly and writes occasionally. A specialist in digital media for over 15 years, he has worked as a senior editor and is a former freelance classical music critic for the Toronto Star. Michael holds a Doctorate in Music from the University of Toronto.
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