Use of the ICSOM ERF (updated March 11, 2021)

The ICSOM bylaws provide for loans from the Emergency Relief Fund (ERF) under certain conditions.

Member orchestras whose dues are fully paid and who have no outstanding loans from the ERF may borrow up to an amount equal to fifteen percent (15%) of the cash balance in the ERF as of the previous June 30, upon the approval of the ICSOM Governing Board.

An orchestra needing ERF funds is required to submit a written request for a specific amount of money to the ICSOM treasurer, who responds with a loan agreement and note. The note must be signed by five members of the orchestra committee, who thereby agree to assure the repayment of the loan; the orchestra as a whole is considered responsible for repayment. Here is the link to a sample copy of the note from the Delegate Manual (must be logged in to view).

Borrowed funds are free of interest for one year from the date that the work stoppage is settled, or that the crisis that gave rise to the loan is resolved; thereafter, borrowing orchestras are charged the then-current prime rate per annum. Orchestras are encouraged to repay loans as quickly as possible so that funds are immediately available for other needs.

Follow ICSOM on Twitter at
On Facebook at

Pittsburgh Symphony Orchestra

2018-19 season