Indianapolis Symphony Orchestra reports balanced budget and continued ticket sales growth during Annual Meeting Dec. 7
2014-2015 season is ISO’s third consecutive year with a balanced budget
INDIANAPOLIS – The Indiana Symphony Society (ISS) released its audited financial results for the 2014-2015 season during its Annual Meeting held today at the Hilbert Circle Theatre. Vince Caponi, ISS Board Chair, reported that the Society achieved a balanced budget for the third consecutive year with strong fundraising results and growth in earned revenue.
Earned revenue from ticket sales increased 8 percent over FY14, following a 14 percent increase from FY13 to FY14. In addition, the total number of tickets sold for the ISO’s indoor concerts, which include concerts in the classical, pops, Happy Hour and family series, as well as the new seven-concert 317 Series and six-concert Palladium Series, increased by 15 percent from the 2013-2014 season. The total number of subscribers to ISO concerts increased by 24 percent and contributed income levels remained strong, with $9.25 million in contributions raised. Student ticket sales also continued to perform well, with a total of 9,014 tickets sold in 2014-15, a 33 percent increase over the previous year.
The ISS also reviewed artistic highlights of the season, which was Krzysztof Urbański’s fourth season as ISO Music Director; celebrated the success of the new Duke Energy 317 Series of concerts and programs in Hendricks County and Greater Greenwood; and honored the ISO’s Metropolitan Youth Orchestra, now in its 20th anniversary season.
“The ISO is delighted to report another strong season in artistic accomplishment, audience growth, fundraising and strong financial stewardship,” said Gary Ginstling, Chief Executive Officer of the ISO. “We are encouraged that more people are experiencing the tremendous artistry of the ISO in performance, and that the community’s support remains so strong.”
Other FY15 achievements include the success of the ISO’s “Fantasy, Fate and War: A Russian Music Festival” and the second season of the expanded Lunch Break series of informal and affordable 45-minute concerts during the summer, recently given a “Best of Indy” award by Indianapolis Monthly. The season saw major sponsorship commitments from Indianapolis Power & Light, (IPL Yuletide Celebration), Roche Diagnostics (Metropolitan Youth Orchestra title sponsor), Duke Energy (Duke Energy 317 Series) and Marsh Supermarkets (Marsh Symphony on the Prairie).
The ISO’s 2014-2015 Financial Summary, ending Aug. 31, 2015
- The ISO posted a general operating surplus for the third consecutive fiscal year.
- The ISO’s total operating revenue for FY15 was $23.8 million, up 1 percent from FY14. Total expenses were $22.9 million, a decrease of 1 percent from FY14.
- Total annual fund contributions for FY15 were $9.25 million, marking the third consecutive year that contributions have exceeded $9 million.
- FY15 earned income from ticket sales increased by 8 percent over FY14.
- Total number of subscribers to ISO concerts increased by 24 percent. The number of new subscribers jumped 52 percent from the 2013-2014 season, helped by the ISO’s new Telamon Palladium Series and the Duke Energy 317 Series in Hendricks County and Greater Greenwood.
- The summer concert series, Marsh Symphony on the Prairie, achieved a 7 percent increase in ticket sales over the prior year.
Highlights of the 2014-2015 Season
2014-15 marked Krzysztof Urbański’s fourth season with the ISO as Music Director. In the Lilly Classical Series, the ISO presented masterpieces by Brahms, Mozart, Beethoven and Mahler and premiered a brass concerto by James Beckel, ISO Principal Trombone. The season’s centerpiece was a three-week Russian festival of music and culture, which was capped by the ISO premiere of Shostakovich’s Symphony No. 7, the “Leningrad.” The ISO concluded the indoor season with four sold-out performances of Beethoven’s Ninth.
In the Printing Partners Pops Series, Maestro Everly presented eight concert weekends paying tribute to the artists, composers, singers, songwriters, actors and creators who left a significant mark in the 20th century. From the Beatles and Broadway to Marvin Hamlisch and Megan Hilty, audiences got a taste of the rich variety of American popular music.
The ISO stretched beyond its downtown home into the communities of Hendricks County and Greater Greenwood with its new Duke Energy 317 Series of concerts, classes and public events. With support from the Robert S. and Margot L. Eccles Fund, a charitable fund of CICF, and the National Endowment for the Arts, the Duke Energy 317 Series brought the ISO’s music and educational activities to these growing communities.
In its seventh season as the ISO’s artists-in-residence, Time for Three continued creating and performing the Stella Artois Happy Hour at the Symphony concerts designed especially for the after-work crowd. In addition, the WFYI special, Time for Three Live with the Indianapolis Symphony Orchestra, won an Emmy Award.
For an online version of the 2014-2015 annual report, click here.
ISO Recognized Musicians with 25 Years of Service
The Society recognized Assistant Concertmaster Dean Franke, Principal Horn Rob Danforth, Oleg Zukin, violin, and Jill Boaz, horn, for 25 years of distinguished service.
Elections to the ISS Board of Directors
The Society elected the following individuals to the Board of Directors:
Joe Kessler, Chief Financial Officer, Community Health Network
David Morgan, President, Senior Home Companions
Marc Nichols, Esq., Legal Counsel & Director of Compliance for Rolls-Royce North America
Bob Anker was elected to the Society’s Board of Trustees.