Wednesday, December 10, 2008

Baltimore Opera Files for Bankruptcy Protection Under Chapter 11

We’ve heard consistent reports of how current economic conditions are negatively impacting many charities. In the news this week is the Baltimore Opera Company, which recently filed for bankruptcy protection according to National Public Radio. The company has cancelled the remainder of the 2008-2009 season and is not refunding money to ticket holders. This recent news confirms our evaluation of the Baltimore Opera as financially unstable. Their current overall rating is two stars, with only one star in the organizational capacity category. In the past they have earned only one star overall. This indicates they have insufficient cash reserves and have shown minimal growth in recent years. If you are interested in supporting the arts or your local performing arts organization, visit us to locate a program in your area, or choose a highly-rated arts organization here.

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