Friday, July 15, 2016

Arizona Theatre Company's Fund Raising Effort short of $2 Million Goal though pending gifts are still under review - Final Decision about ATC's future will be announced on Monday

from our friends at Arizona Theatre Company:

Arizona Theatre Company’s (ATC) emergency fund-raising effort to continue operations and begin producing its 50th anniversary season remains short of its $2 million goal, but several major pending gifts are still under discussion.

Management and members of the Board of Trustees will meet over the weekend to allow the outreach and accounting processes to be completed and to make a final decision about ATC’s future for an announcement on Monday.

“At this moment, we have not hit our goal, although we’re still wrapping up and will know with certainty where we stand over the weekend,” said Board of Trustees Chair Lynne Wood Dusenberry.  “If there’s another angel out there waiting for the last minute, now is the time to step up.”
As of 3 p.m. Friday, the effort had generated $718,805 from 670 donors in Tucson, Phoenix and elsewhere.  Of that total, 417 donors in Tucson accounted for $350,132 and 253 donors in Phoenix contributed $368,673.

ATC announced in late June that it needed $2 million in order to fund the 2016-17 season and continue operations.  The original fund-raising deadline was extended from July 1 to July 15 when an anonymous donor contributed $100,000 to continue operations after Tucson business leader Mike Kasser guaranteed he would raise the first $1 million if the second million could be raised by other donors in Arizona.

“We’re still hopeful, but we’re also realistic about where we are right now,” said Managing Director Billy Russo.  “The thought of closing an iconic, important institution like Arizona Theatre Company continues to drive us even for the next couple of days.”

Depending upon the final outcome, if the fund-raising effort is not successful, ATC may either suspend operations and look at ways to restructure the organization or permanently go dark.

ATC Artistic Director David Ira Goldstein said he “continues holding out hope that, despite the current status of the fund-raising, as the board and staff continue their tireless efforts today and over the weekend, something good will happen.”

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