At its Annual General Meeting, the Toronto Symphony Orchestra (TSO) announced positive artistic and financial results for its 2013/2014 season. The Orchestra’s 92nd season was Peter Oundjian’s 10th season as Music Director. It was marked by the release of the TSO’s first recording of a multi-disc agreement with Chandos Records and a fully-funded August 2014 European Tour. The appointment of Jeff Melanson as TSO President & C.E.O. also marks the beginning of a new phase of innovation and growth for the organization.
Christopher Hodgson, Chair of the TSO Board of Directors, reported that the TSO’s operating expenses for the 2013/2014 season were $23,717,860 with revenues of $23,940,189. The TSO ended the June 30, 2014 fiscal year with a surplus of $222,329. Fundraising revenues including special events increased $687,723 over fiscal 2013. Revenue from ticket sales increased $419,075 over fiscal 2013. The highly successful August 2014 European Tour will be reported in fiscal 2015.
For the 2013/2014 season, earned revenue from ticket sales represented 37% of total revenue; fundraising and special events represented 28%; government operating grants represented 22%; gifts from the Toronto Symphony Foundation represented 9%; and touring and other sources accounted for 4%.
