Tuesday, October 18, 2011
Finding a New Business Model
In many eyes they might not rank in importance with food banks, health clinics and other nonprofits, but symphony orchestras (many free standing nonprofits, others are quasi private/public partnerships) have been hemorrhaging money for decades as audiences get older. Some have been eating into their endowments every year in the past decade which leads managers looking to find a new business model. Top of that list would be restructuring the salaries of players, which has led to a series of strikes This story does have relevance as many smaller nonprofits have to find a new business model in order to survive the coming shake-out.