As the orchestras around the world continue to tighten their belts, it seems a financial renaissance is taking place among classical institutions. Operations are being streamlined to accommodate smaller budgets, and coffers are being refilled to allay the looming threat of Chapter 11. Read on for a few instances of philanthropy!

Among these organizations is the Nashville Symphony Orchestra, who received $25,000 from Music Rising—an organization geared towards supporting musical communities in the aftermath of hurricane Katrina. After flood waters set back the organization by an estimated $42 million, the donation will help repair the damaged hall and recover a collection of instruments known as the “instrument petting zoo,” used to introduce instruments to children.

Source: broadwayworld.com

The Montreal Symphony Orchestra also received a rather handsome stipend courtesy of Loto-Québec, a Canadian gaming organization. Loto-Québec has taken the orchestra under its wing, instilling the MSO with $10 million initially, and an additional $8.5 million each year until 2014. The total $35.5 million should serve to ensure the MSO avoids financial crisis any time soon.

Source: Montreal Gazette

Stay tuned for more!

Posted on September 4th, 2010 at 3:47 pm | Filed under Articles of Interest |