London Youth Symphony

The president of the board of directors of the London Youth Symphony is contemplating how to ensure the survival of the orchestra. On the verge of bankruptcy in 2001, the symphony now has more than $40,000 in the bank, but must address the reality that the orchestra might not survive due to a lack of musicians. Students must develop projected financial statements subject to given minimum balance and breakeven constraints. There is much room for judgment in developing the strategic plan; while many of the numbers are alluded to, many assumptions must also be made. Additionally, students will be exposed to some of the issues that may arise with volunteer boards of directors and not-for-profit organizations.

[Extrect] On Sunday April 4, 2004, Daina Janitis, board president of the London Youth Symphony (LYS), sat in her home office and typed:
I’ve been around the LYS for nearly a dozen years — eight before I launched my own young musicians into the adult world and the last four as president. I have been wearied each year by all the same discussions with the board of directors, “Can people join if they can’t pay?” “Do we punish non-attendees?” and “Are we going to go bankrupt?” Fortunately, today, the last question is not an issue — thank goodness. Instead, the question “Do we have a bank account but no orchestra?” has surfaced instead.