Photo by Rozarii Lynch
In unusual positive financial news in the world of classical music, Seattle Opera has announced a balanced budget for the 2012-2013 season and the elimination of the deficit from the previous season. The audit, concluded in last month, totaled the budget for the 2012-2013 season at just over $20.2 million, sufficient to balance expenses and retire the $758,000 accumulated deficit. Board President William T. Weyerhaeuser said:
When it became clear that Seattle Opera would post a deficit in 2012, the Board of Trustees announced several changes to company operations in the interests of ensuring that Seattle Opera would be in good standing when its third General Director was announced.Thanks to generous contributions from our community, including a challenge grant from the Bill & Melinda Gates Foundation, and diligent planning and plenty of hard work and sacrifices by staff and artists, Speight Jenkins will indeed deliver a strong company to Aidan Lang. The deficit is retired, the budget is balanced, and the art is extraordinary.
Seattle Opera’s production of Wagner’s Ring this summer was a resounding artistic and financial success. Earned and contributed revenues for the festival totaled $11.2 million, which covered the costs of presenting three complete Ring cycles along with symposia, events, and free community activities. It was a strong beginning to the 2013-2014 season, the 50th anniversary season of Seattle Opera, and the final season led by Jenkins.