FOR IMMEDIATE RELEASE
Media Contact:
Rachel Trignano, Manager of Public and Community Relations
404.519.1015 (m) – 303.308.2477 (o) rtrignano@coloradosymphony.org
COLORADO SYMPHONY ANNOUNCES BUDGET SURPLUS FOR FIRST TIME IN 26 YEARS; APPOINTS BRETT MITCHELL AS NEW MUSIC DIRECTOR IN 2017/18
September 12, 2016 – Denver, CO – For the first time since its inception in 1990, the Colorado Symphony is reporting its strongest financial health as it opens its 2016/17 Concert Season on September 16, 2016. The Symphony eliminated its decades-old deficit with a $1.5 million matching challenge grant, issued in February 2016 with a short, five-month runway to be met. Upon the close of its fiscal year on June 30, 2016, the Colorado Symphony was able to meet the challenge and report a significant surplus, with cash in excess of $1.7 million, versus $7,000 on June 30, 2015.
“This is a momentous time for the Colorado Symphony,” said Symphony CEO and Board Co-Chair Jerry Kern. “We’re in our best fiscal position to-date with an unprecedented budget surplus, and the staff, donors, musicians, and board are more unified than ever in reaching our artistic and financial goals.”
Founded 26 years ago in the wake of the Denver Symphony Orchestra’s mid-season bankruptcy, the Colorado Symphony has struggled for solvency since its beginning. Only five years ago, on the heels of the recession, it was facing yet another collapse. I
t was around that time in 2011 Jerry Kern, and his wife, Mary Rossick Kern—a long-time Symphony advocate and its former Director of Development—renewed their roles as co-chairs of the Colorado Symphony’s Board of Trustees. By February 2013, Kern stepped in as CEO for a $2 annual salary.
The Kerns attribute this historic financial turn-around to the matching challenge grant, and to making significant revisions to the orchestra business model to suit Colorado audiences.
“Our classical repertoire and level of performance is the best in the region, and the loyalty of our subscribers makes this evident,” said Kern. “But we have to recognize that Denver is a changing city, with younger audiences to engage. We need to stay current, and we’re seeing great success through our collaborations with artists including the Flaming Lips, Elephant Revival, and Gregory Alan Isakov.”
The Symphony is also enacting a significant change within the artistic leadership: as of July 1, 2017, Brett Mitchell, currently the Cleveland Orchestra’s Associate Conductor and Music Director of the Cleveland Orchestra Youth Orchestra, will take on the role of Music Director for the 2017/18 Season and the succeeding three seasons. Mitchell will act as Music Director Designate for the 2016/17 Season.
The 2015/16 Season was Andrew Litton’s last as Music Director, and he will serve as Principal Guest Conductor for the 2016/17 and 2017/18 Seasons. Litton joined the Colorado Symphony as Music Director in 2012, and is credited with expanding the orchestra’s breadth of recordings and upholding an unwavering commitment to the highest performance standards during his tenure.
Mitchell was unanimously selected by musicians and artistic leadership alike—a rare occurrence in the orchestra world when making such a momentous change. Yet Mitchell’s energetic talent on the podium, enthusiastic vision for classical and popular symphonic repertoires, and winning charm made him the clear choice for the role.
“Brett’s skill, character, and creativity won us all over, and he’s completely on board with our mission for innovative artistry and financial success. We are beyond excited to work with him to develop our programs, and can’t believe how lucky we are to have found such a great fit for the Colorado Symphony—especially in a relatively short amount of time,” said Chief Artistic Officer Anthony Pierce, referring to the sometimes years-long process a Music Director search can require.
“From the first downbeat of our first rehearsal together, it was clear that the Colorado Symphony and I had that special chemistry vital to any great artistic partnership,” said Mitchell. “I was hugely impressed by the musicians, and am so pleased to make great music together in the coming seasons. My wife Angela and I are thrilled to be coming to Denver, and we look forward to getting to know the people and places that make the Mile-High City one of the greatest in the world.” To celebrate Mitchell’s appointment, five 2016/17 Season concerts guest-conducted by Mitchell will be sold as a subscription package (details to be announced).
Although having many reasons to celebrate, the Colorado Symphony’s work is far from over. Now the Symphony has four years to fulfill the next, more ambitious stage of their matching challenge grant. The Symphony has until June 30, 2020, to build up their endowment—which currently stands at $20 million—to reach $50 million with an additional $15 million matching challenge grant.
The financial turnaround and overall health of the Symphony’s endowment may also bear directly on the success of its 2016/17 Annual Fund, which supports operating and artistic costs. Some charitable foundations will turn away non-profits running a deficit, but operating in the black with a growing endowment tends to attract more Annual Fund contributions from foundations and individuals. With contributions accounting for about 57% of the Symphony’s revenue, meeting this year’s goals for both the endowment campaign and the Annual Fund campaign will be no small task.
“We’ve made tremendous progress, but still have a long road ahead of us—and not just in terms of raising funds. For one, we need a permanent home, and a voice in shaping its structure and operations,” Kern explained, referring to the Symphony’s current arrangement it has for Boettcher Concert Hall, which is owned and operated by the city.
“Add to that our ongoing fight to put to bed our conflict with the American Federation of Musicians,” Kern continued, “and it’s clear that, despite the great things we’ve accomplished in only five years, we’re just getting started. For now, though, we’re going to focus on why we’re here: making the highestquality music that can be heard in Colorado.”
After honoring the late John Denver in A Rocky Mountain High Concert Celebration with the Colorado Symphony on September 10, 2016, the Symphony kicks off its Masterworks classical season on September 16, 2016, with Principal Guest Conductor Andrew Litton leading the orchestra with Brahms’ Piano Concerto No. 2 and Strauss’ Also sprach Zarathustra. Tickets are available by phone at 303.623.7876 or at coloradosymphony.org/tickets.
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CONTACTS:
For more information or to request interviews, please contact: Rachel Trignano, Manager of Public and Community Relations rtrignano@coloradosymphony.org – 303.308.2477
For high-resolution, downloadable images of the Colorado Symphony, visit coloradosymphony.org/media The 2016/17 Colorado Symphony Season is presented by Arrow Electronics. Support also provided by: The Scientific & Cultural Facilities District (SCFD), 9News, and United Airlines.
TICKETS:
Tickets are available online at coloradosymphony.org/tickets, by phone at 303.623.7876, and in person at the Boettcher Concert Hall Box Office, Denver Performing Arts Complex, 1000 14th Street. The Box Office is open Monday – Friday, 10 am – 6 pm; Saturday, noon – 6 pm; and two hours prior to each performance.
ABOUT THE COLORADO SYMPHONY
One of the leading orchestras in the United States, the Colorado Symphony performs more than 150 concerts annually at Boettcher Concert Hall in downtown Denver and across Colorado. Led by Music Director Designate Brett Mitchell with Principal Guest Conductor Andrew Litton, the Colorado Symphony is home to eighty full-time musicians, representing more than a dozen nations, and regularly welcomes the most celebrated artists from the world of symphonic music and beyond. Every season, the Colorado Symphony serves more than 250,000 people from all walks of life, performing a range of musical styles, from traditional to contemporary. Recognized as an incubator of innovation, creativity, and excellence, the Colorado Symphony continually expands its reach through education, outreach, and programming. The Colorado Symphony partners with the state’s leading musical artists, cultural organizations, corporations, foundations, sports teams, and individuals to expose diverse audiences to the transformative power of music. To learn more, visit www.coloradosymphony.org.