For the past two years, withdrawals from the endowment reached 9 percent: Shilvock said that trend cannot continue and deficits must be controlled: "To bring expenses into line with realistic revenues, we determined that expense budgets need to be reduced by $5M per year, and that we cannot affect our core mission: [presenting] compelling, inspiring […]
SOURCE: ArtsJournal at 12:29PM on March 11, 2019