The board said the symphony cannot afford to continue the current season, despite increases in ticket sales and revenue. Ongoing deficits have left the organization with substantial financial obligations, while donations this year have fallen short of the level needed to sustain operations.

Some gifts to the symphony’s endowment are restricted and cannot be used to cover everyday expenses, the organization said. It described its financial position as an immediate crisis.

The board said the pause is intended to give the organization time to restructure and build a more sustainable financial foundation, rather than end the season permanently. It has not provided an estimated date for resuming performances.

“This is the most difficult decision this Board has faced, and we did not make it lightly,” board chairman Mo Stein said in a statement. He said continuing without enough cash to meet immediate obligations could put the institution’s future at greater risk.

The symphony said it is communicating with affected musicians and other employees about compensation and benefits. Subscribers and other ticket holders will be contacted about possible options, the organization said.