IBJNews

Indianapolis Symphony Orchestra lays off 6 employees

Back to TopCommentsE-mailPrintBookmark and Share

The Indianapolis Symphony Orchestra has laid off six employees as part of ongoing restructuring at an organization that has been dealing with seven-figure budget deficits in recent years.

Jackie Groth, the ISO’s interim president and CEO, said the positions were in information technology, patron services, development, and communications and marketing.

“Really, it’s just part of our initiative here to balance our budget,” Groth said Wednesday morning. The layoffs were an “unfortunate” but necessary part of that effort, she said.

Forty-six full-time employees remain at the ISO, not including 85 union musicians. The orchestra had as many as 80 administrative employees in early 2009.

The staff cuts come as the ISO’s leaders try to turn around years of financial losses. The ISO's expenses of $25.6 million exceeded revenue by $1.7 million for the 2011 fiscal year. Last year's deficit was $1 million less than the previous year's and $1.1 million less than the deficit two years ago.

With the end of the ISO's current fiscal year seven weeks away, Groth declined to comment on her specific expectations for 2012’s financial performance. She said it’s too early to know because the summer season is still in progress. But she did say the ISO would finish the year with a deficit.

A need to restore the orchestra’s endowment, which took a hard hit from market woes during the recession, has been a major reason behind ISO cutbacks. The organization, which drew $7.3 million, or 7.2 percent, from the endowment last year, has been reducing its dependence on the fund.

The endowment, which the Indianapolis Symphony Foundation manages, stood at $89 million at the end of fiscal 2011, about $5.5 million more than the previous year. The fund peaked at $128 million in 2007.

Simon Crookall, the former president and CEO of the ISO, launched a $100 million capital campaign in spring 2010.

The first phase brought in $12 million to $13 million, Groth said. Fundraisers have put the campaign on the back burner as the orchestra searches for a replacement for Crookall, who resigned earlier this year.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. "This was a very localized, Indiana issue," he said. As in, Indiana failed to expand Medicaid to cover its poor citizens resulting in the loss of essential medical services, including this EMS company. Well done, Indiana GOP. Here are the real death panels: GOP state governments who refuse to expand Medicaid for political reasons.

  2. In the "one for all, all for none" socialist doctrine the sick die...this plus obama"care" equates to caucasian genocide plus pushed flight to cities thus further eroding the conservative base and the continualed spiral toward complete liberal/progressive/marxist America.

  3. There is a simple reason why WISH is not reporting on this story. LIN has others stations in different markets that are affiliated with CBS. Reporting about CBS blindsiding WISH/LIN due to CBS's greed and bullying tatics would risk any future negoations LIN will have with CBS in other markets.

  4. My best always! Dave Wilson

  5. How did Columbus, Ohio pull off a car share service without a single dollar of public subsidies? They must not have a mayor who is on the take like Indianapolis. Daimler Benz offers Columbus residents their Smart Cars on a market-driven basis: "This has some neat features. Cars don’t have to be picked up and dropped off at fixed points. You find one with your smart phone based on GPS, and drop it off anywhere in the service area you can find a spot – even at a meter. These cars aren’t required to feed the meter so you get free on street parking while using them. I was told this system was put in place on a market basis without subsidies – and that the vendor actually pays the city for the use of the meters." http://www.urbanophile.com/2014/05/26/checking-in-on-columbus/

ADVERTISEMENT