NY Times - The Metropolitan Opera, still reeling from the disruption brought by the pandemic, said on Thursday that it had withdrawn nearly $40 million in additional emergency funds from its endowment as it works to survive one of the most trying periods in its 141-year history. The move came after the Met took $30 million from its endowment fund last season to help cover operating expenses amid weak ticket sales and a cash shortfall. Nonprofits usually try to avoid drawing down their endowments, which are meant to grow over time while producing investment income. The Met’s endowment fund is now worth about $255 million, down from $309 million in July.
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