Sunday, October 19, 2008
PSO balances budget; fundraising up
PostGazette: "The Pittsburgh Symphony Orchestra ended its 2007-08 fiscal year in the black for a second consecutive season but did not meet the criteria for a major gift, it reported ahead of its annual meeting yesterday."
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How exactly does a non-profit receive a donation and not put it toward balancing their budget. It seems that the aim of this is to force more spending that would not occur without this contribution. I wonder if it is meant to start new programs or something similar. Never the less it is a feat in itself to finish the year in the black and with such high donations given the current state of the economy in this country.
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