Indy symphony's future could hinge on donors

By: Associated Press Email
By: Associated Press Email

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 ( ) 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.

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