Arts nonprofit thrives after financial hardship
Just as the Austin Lyric Opera was in danger of dissolution, its board of directors made a series of decisions that helped bring the organization out of debt and become profitable again.
"It's just an amazing, phoenix-rising-from-the-ashes sort of story," ALO General Director Joseph Specter said.
In 2011, ALO had about $2 million in debt and a diminishing number of season ticket holders. Decisions made by ALO's board of directors, including selling its primary asset—its office on Barton Springs Road—made the organization profitable again. ALO boosted its number of season ticket holders from 2,500 in the 2010–11 season to 3,200 by the 2012–13 season.
"Without the selling of that building, we wouldn't be where we are today," Specter said. "It gave us the ability to sort of rise again."












