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Arts Organizations Look To Draw Down Their Endowments During Crisis

ISSUES Posted: June 2, 2020 2:01 pm

The Chicago Lyric Opera plans to spend $23 million from its $173 million endowment this year, almost triple what it typically takes. It canceled its season in March, furloughed staff and cut salaries, but is still facing a huge deficit. “This is an unprecedented situation,” said Anthony Freud, the Lyric’s general director. The Los Angeles Philharmonic is drawing down $37 million from its endowment, more than twice what it would normally take. – The New York Times

ISSUES Published: 06.02.20

Read the story in The New york Times Published: 06.02.20

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