Solid Financial Outlook
Theater Communications Group, the national organization for American theater, recently conducted a study of over 400 non-profit theater groups around the country. Taking Your Fiscal Pulse found that despite the economic downturn, for theaters whose fiscal year ended in September, 2009, 52% either broke even or made money. Of the 48% who lost money, 34% were at a deficit of 10% or less of total expenditures.
In reaction, Erica Veil, representative of the Troy Proctor’s Foundation, was quoted in the Troy Record in a recent article about the study: “The survey shows overall ticket sales and government, trustee and individual contributions have maintained or increased, despite being in the midst of the worst economic crisis any of us have ever experienced. We see this as strong support for Proctor’s viability.” To the suggestion that the study represents only a “50/50″ chance of survival, and that therefore, the theater should be torn down, Ms. Veil responded, “Do not make permanent and irreparable decisions for a national historic property based on the economics of a temporary recession.”