As part of my responsibilities as a board member for Baroque Band (a period instrument group here in Chicago), I recently drafted an addendum to our bylaws that provide for the creation of an official contingency operating fund; colloquially known as a rainy day fund. In this instance, it’s a sign of growth combined with a strong desire to be as self reliant as possible; meaning, we’d rather borrow from ourselves than a line of credit during expected lulls in cash flow.
Governance
What The Other Side Gets Right
Amidst the backdrop of increasingly partisan politics and some of the lowest Federal government approval ratings in history, Thomas B. Edsall published a pair of opinion articles in the New York Times where he asked key figures among conservatives and liberals what they thought the other side “got right.” The results were captivating in that although Edsall notes liberals and conservatives did not always share the same degree of enthusiasm when …
Compensation Déjà vu Philly Style
It is worth noting that the current brouhaha over the Philadelphia Orchestra Association’s (POA) decision to extend President and CEO Allison Vulgamore’s contract for three years along with a list of perks and restored bonuses isn’t the first time the organization caught heat over executive compensation. In 2004, the POA (led by former board chair Richard Smoot) decided to award then President Joe Kluger with a $10,000 raise while simultaneously cutting staff and pushing hard for musician concessions.
The "Gruesome Details" Of Philly CEO Renewal
On 2/29/2012, the Philadelphia Orchestra Association (POA) issues a two page press statement announcing a multi-year contract renewal for President and CEO Allison Vulgamore. Music critic Norman Lebrecht reports that the deal will require approval from the bankruptcy court then, in turn, refers to an article on the matter by Philadelphia Inquirer music critic Peter Dobrin for the “gruesome detail.” And Dobrin doesn’t disappoint when it comes to details. According to …
The “Gruesome Details” Of Philly CEO Renewal
On 2/29/2012, the Philadelphia Orchestra Association (POA) issues a two page press statement announcing a multi-year contract renewal for President and CEO Allison Vulgamore. Music critic Norman Lebrecht reports that the deal will require approval from the bankruptcy court then, in turn, refers to an article on the matter by Philadelphia Inquirer music critic Peter Dobrin for the “gruesome detail.”