Losing two minutes in the span of one week isn’t an achievement to be proud of but the Minnesota Orchestra Association (MOA) moves another minute closer to doomsday following the official decision to terminate what was left of the 2012/13 subscription season. Incidentally, doomsday is marked by organizational collapse and subsequent liquidation bankruptcy.
In a press statement published the morning of 5/8/2013, the MOA cancelled five concert events in May, two in June and one in July. And just in case you weren’t keeping score, the statement includes a note that the new cancellations were addition to the other cancellations from 10/18/2012-5/12/2013.
As we examined on May 7, 2013 there doesn’t appear to be any changes in positions coming any time soon, so the next big stretch of hurry up and wait comes in the form of the freshly minted “summer line-up” which features a limited number of general admission cancellations.
Once July is a memory, expect things to get dicey.
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I haven’t looked to verify but if that’s accurate, board membership must be publicly available information for nonprofits so anyone can call and request the list.
All names of directors/trustees are listed by law on the non-profit’s 990 filing. One needn’t make a phone call, just go here to read all 97 names:
http://990s.foundationcenter.org/990_pdf_archive/410/410693875/410693875_201108_990.pdf
That’s certainly the case but the only pitfall is the 990’s available via online resources are usually two seasons old and board members could have changed. As a result, if any concerned individuals want a current list, contacting the institution is the way to go.
The “summer line-up” also gives people the opportunity to send the MOA more cash, and/or roll over subscription tickets instead of requesting a refund. Either way, it implies a need for cash.
The list is back, hopefully to stay, albeit at a different address. It was not there earlier today.
http://www.minnesotaorchestra.org/about/management-and-administration/board-of-directors
Drew, you mentioned liquidation bankruptcy. Will the MO be forced to give up its non-profit public benefit corporation status at some point if it isn’t fulfilling its exempt purpose? Would that be the cause of liquidation bankruptcy? Do you know what would happen to the endowment funds in such a case? Thanks.