The Business of Orchestras
:: Accounting & Finance

Michael Drapkin  

An Indexed Financial Model for Symphony Orchestras

Michael Drapkin
October 7, 2019

The last few years have seen unprecedented turmoil amongst professional symphony orchestras in the United States. We have seen retrenchment or bankruptcy, both Chapter 7 (Honolulu Symphony) and Chapter 11 (Philadelphia Orchestra). Among others, there has been significant reorganization in the orchestras of Detroit, Louisville - even the New York City Opera Orchestra. Many others have completely ceased to exist.

GO TO ARTICLE

Robert Levine  

Treasuring for Dummies

Robert Levine
December 14, 2019

There are lots of serious mistakes that a union officer, or an orchestra committee member, can make. A screw-up by a union officer can provoke an unnecessary strike, can get union members fired, and can get the union sued for big bucks. But screwing around with the union's money can get a union officer sent to jail. It's happened to a few AFM local officers. And, while it hasn't yet happened to an orchestra committee treasurer, it sure could. This is serious stuff, and you need to get it right.

GO TO ARTICLE

Ron Bauers  

A Short Course in Not-for-Profit Accounting - Installment 5

Ron Bauers
December 5, 2019

The basic purpose of accounting is to determine income by matching, in a given accounting period, revenues earned to the expenses incurred to earn those revenues.

GO TO ARTICLE

Ron Bauers  

A Short Course in Not-for-Profit Accounting - Installment 4

Ron Bauers
July 10, 2019

Historically, several organizations have been established to develop generally-accepted accounting principles (GAAP).

GO TO ARTICLE

Ron Bauers  

A Short Course in Not-for Profit Accounting - Installment Three

Ron Bauers
June 13, 2019

Get ready for here it comes - the excitement of a shortened version of the FASB objectives of financial reporting from the FASB Statement of Financial Accounting Concepts No. 4, Objectives of Financial Reporting by Nonbusiness Organizations (1980).

Financial reporting should provide information that is useful to present and potential resource providers, as well as other users, by following these objectives:

GO TO ARTICLE

Ron Bauers  

A Short Course in Not-for Profit Accounting - Installment Two

Ron Bauers
May 22, 2019

The most important relationship between funding and expenses in not-for-profits (NFPs) is that expenses drive funding. NFPs determine the funding required for operations by determining the level of service or goods that the organization can provide and then, through budgeting, calculating the costs for those services.

GO TO ARTICLE

Ron Bauers  

A Short Course in Not-for Profit Accounting - Installment One

Ron Bauers
May 8, 2019

I have decided to postpone the short history of not-for-profit accounting that I proposed as my first topic, and instead jump into the remainder of the course, even though I know all my readers are waiting breathlessly for the history. But I promise that later on, I will provide you with an exciting historical perspective on the subject.

GO TO ARTICLE

Ron Bauers  

Introduction Accounting & Finance

Ron Bauers
April 10, 2019

Because this is an accounting and finance column, it will contain information about accounting and finance issues, but will specialize in not-for-profit organizations, with a focus on symphony orchestras, opera companies, and ballet companies.

GO TO ARTICLE