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The St. Paul Chamber Orchestra announced a balanced budget for the fiscal year ending June 30 at its annual meeting of members on Tuesday. It marks the orchestra’s 29th balanced budget out of the past 31 years.
The group made a planned dip into its Rainy Day Fund to achieve the goal. The SPCO has seen a significant decrease in corporate and foundation support, a high inflationary environment and a significant decline in subscription revenue since 2019. The Rainy Day Fund was created in 2018 as a proactive measure.
“We are fortunate to have access to the Rainy Day Fund and these special gifts to maintain a balanced budget while we continue our work to regain full financial health,” said managing director and president Jon Limbacher in a news release. Total operating expenses were $10,390,580, with total operating revenue of $8,999,365 and $1,391,215 drawn from the Rainy Day Fund. The SPCO received $5,239,185 in contributions from individuals, foundations, corporations and institutions, with $3,165,376 contributed to the annual fund.
As of the end of June, the SPCO’s donor base comprised 5,174 unique households, with 670 donors making recurring monthly gifts. Other highlights from the annual meeting include: Concert attendance grew by 4%, with a total of 68,742 attendees. That growth was driven by a 21 percent increase in the concert membership program, which has 1,786 active members.
The SPCO commissioned seven new works in the 2023-24 season, including three world premieres, with a commitment to commissioning works by composers underrepresented in orchestral repertoire. The SPCO welcomed back three returning artistic partners: British Baroque specialist Richard Egarr, American composer Rob Kapilow and South African cellist, singer and composer Abel Selaocoe. The orchestra also added former partner Douglas Boyd, a British oboist and conductor.
For nearly 20 years, the SPCO has focused on lower ticket prices and the season saw 21,412 tickets sold for $15 or less. Additionally, 8,531 tickets were distributed free, including to children and students as part of the SPCO’s New Generation Initiative. Tickets for students and children comprised almost 9% of the total audience during the season.
“This past year, the SPCO continued to deliver on our mission and advance our vision of a great orchestra for everyone in the community,” said Limbacher. “Our musician-led artistic model continued to flourish, and our brilliant musicians provided amazing concert after amazing concert for our community.” Related Articles Music and Concerts | Review: Timothée Chalamet is the best thing about the Bob Dylan biopic ‘A Complete Unknown’ Music and Concerts | Rock and Roll Hall of Famer James Taylor to play Xcel Energy Center in June Music and Concerts | This weekend, Latin American Baroque meets modern at choral ensemble Border CrosSing’s Christmastime shows Music and Concerts | Melissa Etheridge and Indigo Girls to share the bill at the Minnesota State Fair Grandstand Music and Concerts | Concert review: Cyndi Lauper charms Target Center on her farewell tour.
