Olney Theatre Center Stages Financial Turnaround
Olney Theatre Center, a 73-year-old professional, award-winning theatre, is an underdog story of success despite financial hardship and a difficult economy. Olney Theatre Center's successful rise has come as a result of re-structuring its programming to maximize return on investment combined with state aid and an additional $500,000 in major gifts from Montgomery County through the Arts and Humanities Council of Montgomery County.
In addition, Olney Theatre Center raised contributed income by focusing on donors of all levels. The Theatre more than doubled its contributions and grants from $1.1 million in 2009 to $2.6 million in 2010, and increased its overall revenue by $1.6 million to allow the Theatre to close the year with a balanced budget post-depreciation and interest. The Theatre is positioned to do the same in 2011.
"We were resolved to not use anything as a crutch as we developed our strategic plan, especially the recession" said Olney Theatre Center's Managing Director Amy Marshall. "We worked together and have made the necessary changes to our business model to position ourselves for a strong future."
Olney Theatre Center looks toward positive future success and continuing its strong tradition of bringing professional, award-winning theatre productions and theatre education to the Washington, DC metro community in the years ahead.
About Olney Theatre Center
Olney Theatre Center, located in Olney, Maryland, is a 73-year-old professional, award-winning, nonprofit, Equity theater whose mission is to inspire and nurture artists, students, technicians, administrators, and its audience members through its diverse array of theatrical and musical productions year round. Located in arts-rich Montgomery County, Olney Theatre Center is easily accessible from Washington, DC and Baltimore, MD. For more information please visit www.olneytheatre.org.
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