Much-Needed Funds Rescue Arizona Theatre Company

News   Much-Needed Funds Rescue Arizona Theatre Company After threatening closure, the organization has raised the necessary $2 million it needed to produce its 50th anniversary season.
Arizona Theatre Company HR

Arizona Theatre Company has raised the $2 million necessary to produce its 2016-17 season. As previously reported, the organization needed to raise the funds by July 1 or it would be forced to suspend operations on the eve of its 50th anniversary.

Read More: Arizona Theatre Company Threatens To Suspend Operations

“A flurry of pledges and commitments during the final hours of the campaign and completed over the weekend put the effort at the $2 million mark,“ read an online statement from ATC.

The Arizona-based company’s deficit grew to $1 million under Mark Cole, who resigned as managing director in August 2013. The theatre enlisted the help of Albert Hall & Associates, an arts consulting company, that told ATC it needed a stronger contributor base to raise enough money for day-to-day expenses as well as funds to reduce the deficit. Calculations dictated that ATC would not be able to produce the 2016-17 season without an additional $2 million dollars.

The successful fundraising effort included 448 donors in Tucson and 320 donors in Phoenix. Tucson business leader Mike Kasser guaranteed that $1 million would come from Tucson if the second million could be raised from donors in Phoenix. He called the effort “a crowdfunding campaign without the Internet.”

In a statement published online, artistic director David Ira Goldsetin expressed his “heartfelt and abiding gratitude for this outpouring of support from across the state and throughout the country. It makes it possible for Arizona Theatre Company to continue building the legacy of a remarkable professional theatre for diverse audiences, students, and families throughout the region. I assure our community that we understand our responsibility as the stewards of this great organization, now entering its sixth decade.”

For more information on arizonatheatre.org.

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