Philly’s New Hall In The Red

Philadelphia’s huge new performing arts complex, the Kimmel Center, has finished its first year of operation with a deficit of nearly $4 million. But Kimmel management points out that it normally takes such massive organizations at least 5 years to turn a profit, and they insist that their hall is well ahead of schedule in the moneymaking department. Much of the first-year deficit reportedly had to do with start-up and hiring costs. The center is home to the Philadelphia Orchestra and several other arts groups, but is owned and run separately from any of its tenants. The Kimmel has an independent endowment of $20 million.