Finance – Page 2 – Adaptistration

Paycheck Protection Program Introduces Exclusive Period For Smaller Businesses

Friday, February 26th, 2021 by Drew McManus

President Biden announced that through Tuesday March 9, 2021 the Small Business Administration (SBA) will exclusively accept applications for Paycheck Protection Program (PPP) loans from businesses and nonprofits with fewer than 20 employees. During the 14-day exclusive period, financial institutions are still allowed take and review applications from all size small businesses, but they will not submit new applications to the SBA for businesses with 20 or more employees until Wednesday …

AFM-EPF Drops the Hammer

Thursday, January 9th, 2020 by Drew McManus

While it comes as no surprise, the recent announcement from the American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) heralding massive cuts to member benefits is sure to bring more than its fair share of angst among AFM members who are part of the plan. While the plan has to be approved by the US Treasury Department before it goes into effect, the 1/7/2020 edition of The New York Times …

Define That: Total Fiscal Transparency

Tuesday, August 13th, 2019 by Drew McManus

There’s a fascinating article by Charles T. Downey in the 8/12/19 edition of Washington Classical Review that examines the ongoing Baltimore Symphony Orchestra (BSO) lockout. Downey suggests that in order for the organization to maintain artistic integrity while addressing existing economic conditions, the BSO’s executive leadership must “establish total financial transparency.” That’s a superb suggestion and one that has certainly assisted with not only resolving pending labor disputes (Metropolitan Opera Orchestra) …

The Problem With Nonprofit Arts Admin Pay

Tuesday, July 2nd, 2019 by Drew McManus

There’s an excellent article in the 6/12/2019 edition of fastcampny.com by Ben Paynter that examines two recent studies on nonprofit staff compensation. Spoiler alert: both studies uncovered ample evidence that compensation is a strong pain point among most employees. Compensation is a regular topic here at Adaptistration and back in 2016, we conducted a survey of orchestra and opera staffers and managers to help determine the how and why behind orchestra …

A Question Of Systemic Debt In Baltimore

Friday, June 28th, 2019 by Drew McManus

There’s a fascinating article in the 6/25/2019 edition of The Baltimore Sun by Mary Carole McCauley that begins to draw lines supporters use to align themselves with one stakeholder or another in the Baltimore Symphony Orchestra’s (BSO) ongoing lockout. Specifically, the article examines the recent spike of annual debt over the last 19 months and the impact it has on day-to-day cash flow. The [BSO] owed its vendors $2.1 million as …