Finance – Page 12 – Adaptistration

Fiscal Shenanigans: Relevant Now More Than Ever

Friday, June 29th, 2018Thursday, December 27th, 2012 by Drew McManus

Following the recent decision by 14 Minnesota state legislators to conduct hearings into their concerns over whether or not the Minnesota Orchestra Association (MOA) misled lawmakers about the orchestra’s financial condition when it applied for, and received, millions of dollars in state assistance for the current hall renovations and subsequent operating fund endowment, it seems appropriate to revisit a topic that caused a bit of a stir when we initially examined …

Show Me The Money Monday

Monday, December 3rd, 2012 by Drew McManus

The economic downturn doesn’t appear to be having much impact on nonprofit thieving. Last week the Woodruff Arts Center (WAC), parent organization of the Atlanta Symphony Orchestra (ASO), announced that they paid nearly $1.5 million to a fake company for more than five years and it just so happens that the company was connected to a former employee. In English, that means WAC had an embezzler in their midst for half …

That’s An Excellent Question

Friday, June 29th, 2018Tuesday, September 18th, 2012 by Drew McManus

On 9/17/2012, reader Jonathan Gresl posted a comment to ask if I could write an overview of the differences between defined benefit and defined contribution retirement plans and how they interact with the field. That’s an excellent question and I’m happy to oblige.

A Bad Idea In Any Economic Environment

Friday, June 29th, 2018Thursday, September 13th, 2012 by Drew McManus

The Minneapolis Star Tribune published an article on 9/7/2012 by Graydon Royce that reports details from a revised St. Paul Chamber Orchestra (SPCO) proposal. Although it appears that both sides seem to sauntering toward some middle ground, one aspect of the latest SPCO proposal jumps out in that they want to create a two tier pay system for musicians: $62.5k/yr for existing members and $50k/yr for incoming musicians.

You’re Doomed I Tell You. Doomed!

Friday, June 29th, 2018Wednesday, September 12th, 2012 by Drew McManus

The 9/8/2012 edition of the Minneapolis Star Tribune published an article by Graydon Royce that examines the ongoing labor dispute at the Minnesota Orchestra (MO) and of particular interest is a quote from Richard Davis, the MO former board chair who is currently leading the management’s negotiation team. According to Davis, there are only two kinds of American Orchestras: those that have gone through painful restructuring, and those that are going to go through it. Pretty cheery, huh?