Attendance reached a 20-year high last season for the St. Paul Chamber Orchestra, which also reported Tuesday a 15 percent increase in donations and a balanced budget for fiscal 2014. The year, which ended June 30, covered the SPCO's first full year back after a lockout-shortened 2013.
Orchestra President Bruce Coppock said the year's financial results exceeded expectations concerning the amount of time it would take to recover from 2013, when musicians were locked out for six months over a labor dispute.
"Coming out of our difficulties, we were mindful that the goals we set for ourselves were ambitious," Coppock said. "Doing so has defied the industry norm."
Expenses for the year were $9.8 million, down from $11 million in 2012, the most recent comparable year in which a full concert schedule was performed.
While a modest $196 surplus won't offset an accumulated deficit of nearly $500,000, most orchestras that have experienced periods of work stoppage over the past two decades have taken at least two or three years to get earnings and contributions back to previous levels, Coppock said.
Concert halls were on average more than 90 percent full last season. Individual giving to the SPCO's Annual Fund grew by 19 percent, with institutional donations going up by 9 percent.
Coppock said "there is no question" that the increases in concert attendance, subscription renewals and donations have been influenced by interest in several high-profile artistic partners with whom the orchestra has recently announced collaborations, including violinist Patricia Kopatchinskaja (who recently nearly sold out two weekends of concerts), pianist Jeremy Denk and clarinetist Martin Fröst.
The SPCO has balanced 19 annual budgets over the past 21 years, but has struggled financially for the past several.
After administrative layoffs and salary cuts reduced expenses by $1.5 million, the board asked musicians for concessions, as well, which led to the 2013 lockout. The musicians agreed to a 20 percent salary reduction, cutting expenses by an additional $1.1 million.
The Minnesota Orchestra, which went through a 16-month musician lockout between 2012-14, also recently announced results for its fiscal year ending Aug. 31. Its $650,000 deficit on revenues of $20.8 million was received as good news, given the unprecedented length and high costs of its labor dispute.
Kristin Tillotson • 612-673-7046
