Friday, January 10, 2014
Is Your Nonprofit Theater Headed for its Final Curtain Call?
NPQ - Nonprofit Quarterly: It’s time to throw the old model out the window and start thinking like a private entity. The primary goal should not be to fundraise, but to generate unrestricted revenue sufficient to meet and even exceed operating expenses such that you have reserve funds and recapitalization money. If you have your financial house in order and a strategic business plan, you might actually start attracting donors because they can see their money being put to good use.
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The Nonprofit theater world can be a very scary world to live in. Now with all of the big commercial shows and tours it is very easy for smaller productions to get lost. The way that I think nonprofit theater can be the most successful is in the planning of their season. For example lets say you are going to produce three productions in your season. Get to know your audience and do two shows that you know they know and love that will bring in some money via ticket sales. Then for the third show take a risk. Do something that is new and innovating (this could be a classic that has been rethought) that can get your company name out they for being original. This will help widen your audience's interested giving you more of a range of "safe" shows to produce.
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