Home / VOL. VII NO. 17 10/01/2026 / Tanglewood – The Beat Goes On

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Tanglewood – The Beat Goes On

Bruce Blair


I recently called for the Boston Symphony to find a champion for classical music. Before taking this further, we should turn to the financial side of the BSO, with help from orchestra fiscal analyst Thomas Dinsmore, summarized below.

The BSO stated earlier this year: “… the orchestra lost $6.6 million during the fiscal year ending in August 2024” Per the BSO’s 990 tax return for 2025, Dinsmore says: “Chad Smith’s salary was $1,097,476, his bonus $210,000, adds up to $1,371,354.” And “the BSO booked $155 million in revenue, a new record…surplus of $27 million, the largest since the James Levine era. The endowment, at $603 million, hit a new high…The unrestricted endowment hit $66 million. The Board can spend that money at any time and for any purpose.”

Chad Smith has stated: “… the BSO had been in decline for a long time…the business that supports (the musicians) has been so undercapitalized and so compromised over the past 20 years that there is a real concern on the board about viability going forward.” (Berkshire Eagle, June 18)

Per Mr. Dinsmore: “The BSO is not “in decline”. In the past 20 years, BSO revenue increased by $50 million. (Source: BSO Form 990 filings, Fiscal Years 2006-2025).”

“The BSO is not undercapitalized; it has net assets of $702 million, more capital than any symphony orchestra. (Source: BSO Form 990 filing, Fiscal Year 2025).”

“The BSO is under no threat to its viability. Grant Thornton, the BSO’s outside audit firm, issued a “clean” opinion four months before Smith said this. (Source: Consolidated Financial Statements, Supplemental Information and Report of Independent Certified Public Accountants).”

So.. is the orchestra there to promote financial growth in service to the apparent commercial focus of the leadership? Or is the leadership there to support the orchestra?

The orchestra’s new contract is a plus. More money for the players, seats on the music director’s search committee. It may quiet orchestra members who lamented the dismissal of Nelsons. It’s a tough slog finding a worthy successor right now. Do Mr. Smith and the Board expect the new leader to conduct and also schmooze with donors, do PR events? There are other orchestra vacancies these days. Candidates will have concerns about the turmoil. And how much focus is on classical music? Smith and the Board’s assertions notwithstanding.

A champion may be years away.

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