No Light At The End Of The Tunnel In Pittsburgh

The Pittsburgh Symphony Orchestra is making progress in its fundraising efforts, says the organization’s board chairman, but there is still the potential for a serious cash crunch even before the end of this season. The PSO is prohibited by its bylaws from running a cash shortage, but its reserves are depleted an its endowment, like those of most American orchestras, has lost a full third of its value in the decline of the stock market. “It faces the daunting statistic that Pittsburgh ranks next to last for private donations among the 22 largest orchestras in the United States in per capita donations.”