Rockefeller Philanthropy Advisors

Crain’s New York Business.com
By Miriam Kreinin Souccar

Karen Brooks Hopkins saw it coming.

“Last summer, when it was clear that the world as we knew it was coming apart, I looked at my boyfriend and said, “The next year of my life is going to be hell,’ “ says Ms. Hopkins, president of the Brooklyn Academy of Music. “And it has been.”

With steep declines in city, foundation and corporate support, and a nearly 30% drop in the value of BAM’s endowment, Ms. Hopkins had to shelve growth plans and instead cut $2 million out of this year’s $40 million budget and another $1 million out of next year’s.

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This entry was posted on Monday, June 8th, 2009 at 2:32 pm.