The death of New York City Opera
On October 1, 2013, the 70-year-old New York City Opera (NYCO) canceled its 2013-2014 season and announced its disbandment. Faced with crushing financial problems, the company filed for Chapter 11 bankruptcy, citing its inability to raise sufficient funds to continue operating. The NYCO’s endowment shriveled from $48 million in 2008 to $5.07 million by the end of 2012. In a…