337 Arts Orgs Are Burning Cash With Less Than 3 Months' Reserves

A Stage Door Society screen of 337 performing arts organizations finds the majority carrying less than 90 days of operating reserves, with operating margins at some groups collapsing past negative 5,000%. From a $125 million symphony to a youth ballet running on negative net assets of $102,031, the distress cuts across every budget tier, and the sector median endowment coverage sits at just 12.9 months.