Unless the Arizona Theatre Company raises $2 million by July 1, the company may be forced to suspend operations, according to Tucson.com.
Although the Arizona-based theatrical organization ended its recent seasons in the black, the company's deficit grew to $1 million under Mark Cole, who resigned as managing director in August 2013.
Tom Hall, part of Albert Hall & Associates, an arts consulting company that has been enlisted to help ATC, told Tucson.com that ATC “needs a stronger contributor base” and needs to have enough money for day-to-day expenses as well as funds to reduce the deficit before its new season begins.
Board member Michael Kassar explained those needs require a $7.5 million budget, of which only $5.5 million is available. “So in order to start the season, we need $2 million,” he said. “It's not prudent to proceed with the season unless we know the $2 million is available.”
Even if operations are suspended, that doesn't necessarily mean the end of the company, according to Hall, who said, “It's possible to come back…. But I've not seen it possible that [companies] come back as they left.”
In a letter on ATC's official website, the company writes, “The Board of Trustees of Arizona Theatre Company (ATC), the official State Theatre of Arizona, regrets to announce the likelihood of cancelling the upcoming season. The past several years have been financially challenging for ATC, and while considerable progress toward long-term financial sustainability has been made, the continued effort to attract the contributed income required to ensure artistic and financial success has fallen short of expectations. Given the reality of the financial situation, if we don’t reach our $2 million fundraising goal, winding down operations and cancelling the 50th Anniversary season will be our only option.”
The company also states, “If the season is cancelled, regretfully we will be unable to refund tickets already purchased. However, we will work to provide our ticket holders with the following: Tax deductible donation for the value of subscription purchases; Access to local venues to provide ATC patrons with alternative arts experiences; An invitation to participate in ATC’s future planning.”