Nonprofit Theater Leaders Discuss Tough Financial Challenges Ahead to NYT
The New York Times focuses on the Signature and its nonprofit theater cousins in New York as they enter an especially difficult economic period in their history, with the 2009-10 season looming as the toughest financial challenge they have faced.
"Our gala is the simplest of affairs, but this economy is proving to be anything but," said Erika Mallin, Signature's executive director to the Times. "This has been a season of ups and downs financially, and things only appear likely to be harder next season".
Barry Grove, the executive producer of Manhattan Theater Club, told the New York Times that "We certainly have been through downturns before - with the city fiscal crisis in the '70s, another one in the '80s, the tech bubble in 2000, and after 9/11. But this is the first time that all quarters of the economy that affect theater are taking a hit at the same time."
William Russo, managing director of New York Theater Workshop, revealed that major individual donations were down 50 percent this January, compared with January of last year. The article details that a rough road lays ahead for the nonprofit community, but also highlights the skill of those steering it forward, to read the complete article, click here.
Photo of Barry Grove and Lynne Meadow by Walter McBride/Retna Ltd.
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