It can be very difficult to figure out the truth of these matters from news reports.
I might be totally off base on this, but it's been my impression that many classical music organizations seem to embrace the image of being elitist. I don't think that's an image that's going to maximize the number of new fans. I think a good first step would be to ditch the tuxedos and switch to clothing that is more contemporary.
I don't think you're off base at all. Rich donors are attracted by exclusivity. Some of them may also be motivated by love of the arts, but arts patronage has always played a role in social climbing, and if you ditch the dinner jackets you may also be ditching the deep pockets, with only an unreliable audience to replace them. It's a fine line for arts organizations to walk.
But if I me employer had been telling everyone that their financial position was solid and then all of a sudden they say that they are losing money and they want me to take a pay cut rather than the pay raise we just negotiated a few months earlier, I'd want to take a few days to investigate what is going on.
A variation on the foregoing has been happening in statehouses all over the country.
And Timmy did fine yesterday, so perhaps it is time to get him off the bench.