Posted on March 31, 2010

Metropolitan Opera Receives $30 Million Gift From Ann Ziff

The Metropolitan Opera has received a $30 million gift from philanthropist Ann Ziff, the largest single donation from an individual in its history, the New York Times reports.

The unrestricted donation, made on behalf of Ziff's family, will help the opera address a projected deficit of up to $4 million for the current fiscal year. The gift also represents the beginning of a five-year, $300 million campaign to rebuild its endowment and has prompted donations from several board members totaling about $30 million, according to Peter Gelb, the opera's general manager.

Currently the secretary of the Met's board, Ziff will become co-chairwoman in May and take over as chairwoman next year. A well-known supporter of the performing arts in New York City, she serves on the boards of Lincoln Center and Carnegie Hall.

Though the Met has felt the effects of the economic downturn, it has developed new productions and media efforts such as high-definition transmissions of live performances into movie theaters which have helped triple its paying audience even as its operating budget increased by $60 million in three years to $300 million. "If the great arts organizations of the world — and I think perhaps the Met is the greatest — start cutting back, we're cutting back on cultural heritage in this country," Ziff told the Times. "It's a good time to keep up our standards, keep pushing for the best."