Monday, April 20, 2009

The Drama Drop -

* First, some good news: The Nashville Opera will unveil its new $6 million headquarters on April 30. The 26,000-square-foot Noah Liff Opera Center includes office, studio and warehouse spaces, as well as large community spaces for special events. According to a press release from the company:
“To note the cultural impact Nashville Opera makes in Nashville and beyond, and then to understand that never in the history of the company have they embarked upon a capital campaign or established a permanent home, it’s astounding,” said Nashville Opera Board President Joe Barker. He added, “This company has done so much with so little, and we will be delighted to see what they will be capable of accomplishing with this new home and endowment for enhanced programming.”

* The New York City Opera said on Friday that it had made a withdrawal from its endowment to pay off debts and get the company back on both feet. Unfortunately, little is left in its piggy bank. According to NYCO artistic director and general manager, George R. Steel, they took $17.5 million from the endowment in the fall, . In order to do this, the company had to have the approval of the New York State attorney general’s office, which regulates nonprofit organizations. Court documents show $9.5 million of that sum had been used to repay a loan taken out to cover a “cash shortfall” from last season. The rest had been used for operating costs this season, when the company suspended most operations while its home at Lincoln Center, was being renovated. But wait, there's more.

* This one stings more than normal because... well... it's Brooklyn (I don't think I've mention how much we love, heart and adore living in the Park Slope area of Brooklyn). Bloomberg.com is reporting that the Brooklyn Philharmonic Symphony Orchestra has canceled its remaining concert this season. In addition, they have also canceled their entire 2009-10 season because of a drop in donations. The orchestra has been struggling financially for the last two years. In its latest tax filing, it reported a deficit of $121,925 for the fiscal year ended June 30, 2007. The orchestra’s full-time staff has been cut to 7 from 23 a year ago.

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