San Jose Rep Hoping to Recover from Recent Financial Losses

The San Jose Repertory is hoping to recover from recent financial losses incurred during their last season of productions. The company says it will take necessary steps to reduce costs and increase revenue for their current season.

After auditors reviewed the company's financial history, they found that the operating loss for the company was $220,908 in 2008 and increased to $406,812 in 2009. The total deficit on the season was $369,000. Nevertheless, the company insists they will take steps towards financial stability.

The company has stated they will hold a fund raising campaign in addition to cutting current running costs in order to improve The Situation. However, in a statement released today, the company acknowledged that even with these measures in place there is no guarantee the revenue stream will improve.

The company is in its 29th season and says they believe they should be able to finish this season, as well as continue production for their 30th anniversary season. The current plan is to review the budget again on August 31st, 2010 after the completion of the fund raiser.

Founded by James P. Reber in 1980 as San Jose's first resident professional theatre, the Rep soon became the fastest growing regional theatre in the country.

The arrival of Timothy Near as Artistic Director in 1987 signalled a more focused commitment to making the Rep an integral part of the life of San Jose. Ms. Near gave the Rep a mission to produce plays that spoke to the city's diverse community both directly or by inflection. Innovative productions of the classics, combined with daring contemporary works and a commitment to developing new plays, have won the Rep a distinctive identity and respected place in American theatre.

The company's 1997 move from the quaint but restrictive old Montgomery Theatre into a new, purpose-built home in the heart of downtown enhanced its ability to offer San Jose a wide range of programming, produced to the highest artistic and technical standards.

Meanwhile, the Rep's imaginative education and outreach programs -particularly its Red Ladder Theatre Company for disadvantaged youth and other underserved groups-have enabled the Rep to make a significant contribution to improving the quality of life in the broader community.

For more information, visit www.sjrep.com.