The San Antonio Symphony has raised enough money to meet expenses for the rest of this fiscal year which ends August 31, according to symphony board Chairman Bruce Bugg.
The symphony announced earlier this year that it’s running a $1.2 million deficit that has grown larger with each season. Symphony President David Gross and musicians agreed to reduce the deficit by requiring the musicians and some executive staff to take furloughs that would reduce their salaries by about 10 percent. For now the furloughs remain in place.
Bugg said Friday five donors will contribute $600,000 this year to eliminate the current shortfall. The donors have also pledged to contribute significant amounts of money for the next two fiscal years. The symphony board of directors will raise an additional $100,000.
Donors include: The Tobin Endowment; The Kronkosky Charitable Foundation; the City of San Antonio; Bexar County; H-E-B; the San Antonio Area Foundation-Santikos Charitable Foundation; and Dennert O. Ware.
