Financial Management: Strategies for Weathering the Storm
The instability of today’s economy and the global financial markets holds many repercussions for orchestras. Fundraising becomes increasingly challenging as donors can no longer give as generously as in the past, community needs are on the rise, and staff anxiety levels are high. What financial approaches are orchestras taking to address this crisis? This seminar will provide participants with effective strategies for managing through the current severe recession, including: cash flow management and cost control measures, while preserving programs core to your mission; creating realistic financial planning models; asset management; resource development and long-term capitalization; and much more. Participants will gain a toolbox of successful financial strategies for weathering today’s economic storm.
Faculty: Bill Thomas (bio), senior vice president, New York Philharmonic
8:00am to 12:30pm
Orchestra Leadership Academy seminars are made possible by grants from The Andrew W. Mellon Foundation, Argosy Foundation, The Hearst Foundation, Inc., National Endowment for the Arts, The Lynde and Harry Bradley Foundation, Con Edison, and Target.