Photo credit: Maximillian Franz Photography
FINANCIAL REPORT
Maryland’ s largest arts organization, the BSO is unique by having a full-time ensemble of 85 musicians— creative citizens who live, teach, and contribute in our communities.
The Baltimore Symphony Orchestra’ s 2026 Fiscal Year( September 1, 2025 – August 31, 2026) represented another positive step forward on a multi-year road to sustainability with audience growth and total earned and contributed revenues exceeding prior year results— in fact, FY2026 marked the highest operating revenue performance in the BSO’ s known history.
Pre-audit results forecast total annual revenues of $ 37.1M, funds invested in our mission and musicians. At the same time and informed in part by growing healthcare and utility costs, total annual expenses are forecasted at $ 38.2M, leaving an operating deficit of- $ 1.1M. While this marks a smaller deficit than previous years, the BSO recognizes the unique impact of unexpected, non-recurring items, including special draws from the Baltimore Symphony Endowment Trust and generous realized bequests. Looking ahead to FY2027, Board and Management are taking thoughtful actions to implement expense controls, strengthen forecasting, and restructure the administration team to further align fundraising, marketing, and patron engagement support strategies. The FY2027 Board approved budget reflects a decreased and balanced revenue and expense goal of $ 36.8M.
Above and beyond the operating budget, the BSO received $ 4.1M in new pledges and / or payments to the Baltimore Symphony Endowment Trust, including initial donations of $ 30,314 to seed a new dedicated BSO at
Strathmore Fund supporting annual expenses aligned with our year-round residency at The Music Center.
Additionally, the BSO deployed $ 1.8M in dedicated Facility Capital— gifts including two capital grants from the State of Maryland, as well as several donations from private funders— to modernize ~ 2,198 sq. ft. across two original spaces at the Joseph Meyerhoff Symphony Hall. The Zamoiski Room, named after former Board Chair Buddy Zamoiski, was reimagined as a green room to better serve artistic and public needs, with ADA compliant accessibility and new conveyance from back of house to front of house. On the lower level, the Musicians’ Lounge was modernized to provide a more comfortable and functional space for Orchestra members and visiting artists. Both projects were completed with the assistance of architect partners Ziger | Snead and construction manager Whiting-Turner.
As a non-profit organization, the BSO makes its consolidated Audited Financial Statements and Form 990s available to the public. Read more at BSOmusic. org / Reports.
BY THE NUMBERS
Volunteer
4,373 hours 6,800 + $ 7.3M from 401
Donor households
Volunteers
18 BALTIMORE SYMPHONY ORCHESTRA across all campaigns and events
Payouts to Maryland businesses and independent contractors
336 FT / PT staff, including Orchestra and OrchKids