Minnesota Orchestra announces full-year 2022 results and revenue growth

The Minnesota Orchestra on Wednesday announced an operating loss of $655,575 for fiscal 2022. That’s less than a $6.3 million loss in 2021 as audiences have continued to return to live performances.

“The 2021-22 season marked a turning point, bringing a gradual relaxation of pandemic precautions and a return to performing for in-person audiences,” said Joseph T. Green, who ended his two-year term as chief executive last week. “With audiences returning to the concert hall and the remarkable generosity of donors, with our solid financial position and stronger connection to this community than ever, the Orchestra has made steady progress in overcoming the pandemic.”

The orchestra has had an eventful year. Music director Osmo Vanska resigned after 10 months of special concerts, while Danish conductor Thomas Sondergard took over the role. The orchestra also returned to full-time live performances, resumed its Mahler Symphonies recording project and launched the new Summer at Orchestra Hall Festival.

The board selected Nancy E. Lindahl as its new director. Lindahl was Chairman of the 1994 Symphony Ball, joined the Board in 1998, served as Honorary Co-Chair of the 2010 Symphonie Ball, was appointed Director for Life in 2016, and served as Co-Chair of the Presidential Selection Committee in 2018.

The orchestra gave 110 concerts to the public last season and 11 were also broadcast on TV, radio and online. The total audience capacity reached 79 percent. The return to a full season brought operating income back to more typical levels, although facility rentals and food and beverage sales lagged due to COVID precautions. Total operating income for 2022 reached US$8.2 million, compared to the previous year when the orchestra performed only 13 ticketed concerts and brought in overall income of US$661,735.

Total net worth increased by $3 million to $183 million. Total contributions — including annual fund giving, grand gifts, symphony ball proceeds, trust distributions and Save Our Stage Act grant money — totaled $28.8 million, compared to $18.3 million a year earlier. Total spend was $39 million versus $27 million.

RELATED: St. Paul Chamber Orchestra closes 2021-22 season in surplus of $163,393

“Thanks to a loyal audience and the extraordinary generosity of donors, we have been able to achieve consistent tax improvements year after year,” said President and CEO Michelle Miller Burns. “We will continue to move forward in the coming season to grow both earned and contributed revenue as part of our financial plan and to build connections with music lovers in our communities as part of our artistic endeavors.”


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