It wasn’t all that long ago that mainstream media reports about the Colorado Symphony Orchestra (CSO) were nothing but positive. The 4/13/2011 edition of the Denver Business Journal reported that the group was on the fast track to stability and success but fast forward barely five months later and the 9/10/2011 edition of the Denver Post published an article by Kyle MacMillan that reports the orchestra is in dire straits and could go under.
Finance
Clearly, I Am In The Wrong Business
According to an article by Peter Dobrin in the 7/27/2011 edition of the Philadelphia Inquirer, the Philadelphia Orchestra Association (POA) is claiming to have spent approximately $2.4 million in bankruptcy related expenses. But according to Dobrin’s report, that doesn’t really bother the POA as the orchestra spokesman, Matt Broscious, defined those expenses and any to follow as “onetime, short-term costs” that are necessary to put the organization back on good financial footing.
It Might Be An Eventful Week For Philadelphia
The Philadelphia Orchestra Association (POA) is entering the next stage in their will-we, won’t-we future. If you haven’t been keeping tabs over the past few weeks, here is what has been going on: the musicians’ union filed a request to verify the POA’s current financial condition, the POA submitted an objection to that request, and organization’s strategic plan was made available…
Philadelphia Pensions: Then And Now
Hopefully, you caught Peter Dobrin’s article in the 6/27/2011 edition of the Philadelphia Inquirer which examines the Philadelphia Orchestra Association’s (POA) request to be relieved from their musician pension obligations via their bankruptcy petition. Dobrin provides an enormous amount of insight into current events an additional item worth considering here is the POA’s historic position on those pensions…
You Don't Want To Be On This List
Earlier this month, the Internal Revenue Service (IRS) published a list of organizations that have had their federal tax-exempt status automatically revoked for failing to file an annual information return or notice for three consecutive years. If you read Butts In The Seats, you already know what this is all about and since Joe did such a good job describing it in his blog post back in May, I’ll borrow an excerpt…