For 19th Consecutive Year, Orange County Performing Arts Center Operates in the Black

Classic Arts News   For 19th Consecutive Year, Orange County Performing Arts Center Operates in the Black
 
The Orange County Performing Arts Center has posted a surplus for the 19th consecutive year.

The surplus for the 2004-05 season was $359,014, up $73,902 from last season, against operating expenses of $41.2 million.

Paul F. Folino, who completed his three-year term as board chairman yesterday, said, "These positive year-end figures are extremely encouraging and send a message that the Orange County Performing Arts Center is in a position of strength as it moves into its 20th year and the completion of its new venues. The history of the center is a record of responsible fiscal and artistic planning, one that is enviable in the world of cultural institutions. It is a well-run organization, blessed with a talented board and staff who are dedicated to fulfilling the center's mission. And certainly our greatest asset is the loyal and generous community that supports the center."

Ticket revenue for the season was more than $22 million, with performances by London's Royal Ballet and a production of The Lion King as the center's top draws.

The center's total earned income was $31.8 million, and contributed income reached $8.7 million, a new record. In addition, $1.05 million was put toward operations from the center's endowment.

The center's next board chairman, former Pacific Symphony chairman Michael S. Gordon, will be overseeing the rest of the center's $200 million expansion, which includes the construction of the Ren_e and Henry Segerstrom Concert Hall, scheduled to open in fall 2006.


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