The SF Symphony and Chorus perform at Chase Center in San Francisco on Dec. 5, 2019. Onome Uyovbievbo/STAFF.

The San Francisco Symphony on Monday told its musicians that the organizations is losing millions of dollars—a problem exacerbated by the pandemic—and is legally unable to use its $315-million-endowment to immediately right the ship.

The communication was made in response to the looming departure of Music Director Esa-Pekka Salonen in 2025 at the conclusion of his contract in 2025, cuts to various key programs like all SF Symphony touring, its popular SoundBox series and Concerts for Kids and others.

The musicians last week went public with a request for the organization to reverse course on these cuts and to re-sign Salonen to another contract.

In a lengthy letter from SF Symphony CEO Matthew Spivey and Board of Governors Chairwoman Priscilla Geeslin, the origination’s leadership cited “mounting financial pressures that the symphony is facing due to the cumulative impact of operating deficits stretching back more than a decade.”

Symphony leaders referred to the cuts as “painful decisions” and said they hope the moves are temporary, taken “solely to stabilize the organization’s finances and secure the future of this institution.”

“We would like to assure you of our commitment to the artistic vitality of the San Francisco Symphony,” reads the letter.

“For many years, the symphony’s expenses have exceeded its revenue, and in recent years that gap has been growing. In several of the most recent seasons, including 2022–23, the symphony received extraordinary one-time gifts or pandemic-related federal aid that have helped to reduce, but have been insufficient to consistently close, the gap between revenue and expense. … In 2022–23, the Symphony’s operating expenses totaled $78.6 million, while operating revenues, exclusive of extraordinary one-time contributions, totaled just $67.4 million. … Factoring out investment gains/losses, which do not provide direct cash to support operations, the symphony has incurred a cumulative operating deficit of $116 million over the last 10 years.”

SF Symphony leaders said that COVID-era government relief covered some but not all of the shortfall, and that without the cuts, the gap could increase by another $80 million over the next five years.

Notably, the letter did not address the musicians’ request for previously agreed-on pay raises.

The musicians have asked the organization to use the endowment to close the gap, Symphony leaders said due to state law and promises made to donors make that impossible, and that its endowment is not a savings account that can be drawn from easily. More than half of the money in it is restricted for use because donors have contributed money for specific purposes outside of the scope of these financial difficulties. The remaining amounts are subject to withdrawal limitations by California law.

The symphony has planned to use 6.45 percent of the endowment for the 2024-’25 season. The industry standard for endowment draws is typically between 5 to 5.5 percent, the letter states.

Symphony leaders also mentioned that a separate Davies Symphony Hall renovation scoping project was fully paid for by private donations that were purpose-restricted and that this money does not compete with any other work by the organization.

“Our board and administrative leadership share our musicians’ convictions,” the letter reads. “Our aspirations for the organization’s artistry and its impact on our audiences have not changed. … We also deeply value our relationship with our Music Director Esa-Pekka Salonen.”

Symphony leaders said that lack of money is the only reason for these cuts and said the patrons and the community can help by buying tickets and donating.

“While we are glad that the administration is responding to the overwhelming outpouring of concern regarding the departure of Esa-Pekka Salonen due to cuts to programming, education and touring, there is still no plan nor timeline for the reinstatement of these supposedly temporary cuts,” said Andy Lynch, spokesman for the musicians. “The administration claims they are committed to transparency and ensuring the symphony remains a world-class organization, but their recent actions have driven away a world-class music director and left more questions than answers related to the symphony’s finances and endowment. Despite our requests, the administration has still not provided us with audited financial statements to support their claims, which we are now only hearing about through a press release.”