Thursday's annual meeting of the Minnesota Orchestra will be a sober, closed-door affair -- no celebratory videos of the year past, no musical program or upbeat speeches.
It might be the most downbeat meeting in the orchestra's 110-year history: Its musicians have been locked out for 10 weeks in an intractable labor dispute, a record deficit that preliminary reports have put at $6 million will be reported and concerts have been canceled through the end of the year.
At the heart of the labor dispute is this question: Does the Minnesota Orchestra -- its board, donors and patrons -- have the financial wherewithal to pay its players on a scale that rivals the best-funded and most prestigious American ensembles?
The orchestra's board says the deficit and depleted endowment ($90 million below 2007 projections) support its position that it must save $5 million in musician costs. The future of the orchestra, they argue, depends on it.
Musicians say the endowment still is the sixth-largest among American orchestras and that the orchestra has raised $97 million (including $52 million for a building project) during a $110 million capital campaign.
Recently, the musicians -- who last week issued a vote of no confidence in CEO Michael Henson -- have compared Minnesota to Cleveland, Chicago and the National Symphony -- orchestras that negotiated small wage increases in 2012. This is proof, they declare, that the American symphony orchestra is not in peril.
Thursday's account will be for a fiscal year that ended Aug. 31, and will not reflect the labor turmoil that began when the board locked out musicians Oct. 1. If they follow trends from recent years, ticket revenues will be down, contributions will be flat and endowment draws will be higher than average.
Endowment numbers