Nashville Symphony's Financial Challenges Are 'Significant'

The Nashville Symphony has seen its long-standing financial concerns heightened following the recent death of main benefactor Martha Ingram, with a restructuring of the nonprofit business now planned.

Via a spokesperson, Nashville Symphony officials say details about the changes will be shared in the “near future.” Nashville Business Journal first reported the concerns.

"The Nashville Symphony is currently facing a significant financial challenge," the symphony says in a statement. "The organization does not have sufficient cash on hand to sustain operations at its current level.

“The symphony's executive committee is developing a restructuring plan designed to stabilize the organization and position it for stronger, more sustainable financial footing going forward and to emerge as a healthier, more resilient institution. We are grateful for the continued support of our musicians, staff, patrons, donors, and the broader Nashville community during this pivotal time.”

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The restructuring effort comes after major changes with the nonprofit.

In July, Mark Cantrell was named chief executive officer, replacing longtime leader Alan Valentine.

Prior to that, and in February, the symphony announced that veteran conductor Leonard Slatkin will serve as music director through the 2028-29 season. The announcement comes after the nonprofit said in July 2025 that Slatkin, 82, would serve as music adviser for what was then the next three years. Of note, Slatkin — who replaced Giancarlo Guerrero — previously held the Nashville Symphony music director role from 2006 to 2009.

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Over the years, the Nashville Symphony has struggled at times financially — with the challenges having evolved, in part, since the Great Flood of 2010, a historic weather event that caused about $40 million in damages to the symphony’s home, the Schermerhorn Symphony Center.

In July 2024, the nonprofit laid off four vice presidents and six junior staff members. In April 2025, the organization laid off eight employees, including several director-level positions (at the time, 54 employees were listed on the website).

COVID-19 also created difficulties, with Nashville Business Journal reporting the symphony lost upwards of $10 million in revenue due to the pandemic.

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Martha Ingram Dies at 90

Iconic Nashville businesswoman, philanthropist impacted city immeasurably

The aforementioned Ingram, who died in August at age 90, likely spared the nonprofit from having to cease operations in 2013 when she assumed a $20 million mortgage (via her Symplace Realty Co., NBJ reports). That move prevented a foreclosure auction. The Schermerhorn, which offered an original cost of about $124 million, serves as collateral for the mortgage.

NBJ reports the mortgage was subsequently restructured three times. In May, Symplace Realty and the symphony agreed to extend the loan's due date by an additional five years, with the loan to mature and the debt to be retired in July 2035.

This article was first published by our sister publication, the Nashville Post.