The Indianapolis Symphony Orchestra will have to convince donors that it's a good investment as part of a new business model that aims to increase annual donations about 40 percent.
The Indianapolis Business Journal reports (http://bit.ly/QGCJzF ) the orchestra's endowment has shrunk to about $80 million, and ISO management wants to cut the payroll and boost annual donations to wean the organization off its reliance on the endowment.
The effort has prompted a monthlong lockout of the symphony's musicians as the two sides try to negotiate a contract.
The orchestra hopes to bring in more donations and grants annually instead of in a one-time rush.
Fundraising consultant Robert Swaney says the ISO will need to regain the confidence of donors and the broader community to make the plan work.