UPDATE: Arizona Theatre Company Short Of Fundraising Goal To Save 50th Anniversary Season

As reported by BroadwayWorld, on June 27th, the Arizona Theatre Company (ATC) informed its subscribers and donors that its 50th Anniversary 2016-17 season will be cancelled unless a $2 million debt could be erased by July 1st.

Three days later, it was announced that Tucson business leader and board member Mike Kasser had guaranteed $1 million from the Tucson community if an equal amount can be raised through outreach efforts statewide. An anonymous donor provided $100,000 as a separate donation to extend the fund-raising deadline to today, July 15.

The company's website has posted a notice stating that the emergency fundraising effort remains short of its $2 million goal, but that several major pending gifts are still under discussion.

Management and members of the Board of Trustees will meet over the weekend to allow the outreach and accounting processes to be completed and to make a final decision about ATC's future for an announcement on Monday.

"At this moment, we have not hit our goal, although we're still wrapping up and will know with certainty where we stand over the weekend," said Board of Trustees Chair Lynne Wood Dusenberry. "If there's another angel out there waiting for the last minute, now is the time to step up."

As of 3PM today, the effort had generated $718,805 from 670 donors in Tucson, Phoenix, and elsewhere. Of that total, 417 donors in Tucson accounted for $350,132 and 253 donors in Phoenix contributed $368,673.

"We're still hopeful, but we're also realistic about where we are right now," said Managing Director Billy Russo. "The thought of closing an iconic, important institution like Arizona Theatre Company continues to drive us even for the next couple of days."

Depending upon the final outcome, if the fundraising effort is not successful, ATC may suspend operations and look at ways to restructure the organization or permanently go dark.

ATC Artistic Director David Ira Goldstein said he "continues holding out hope that, despite the current status of the fundraising, as the board and staff continue their tireless efforts today and over the weekend, something good will happen."

The state's only LORT Theatre, Arizona Theatre Company began as a community theatre in Tempe and now stages productions both there and in Phoenix. ATC has produced more than 200 plays, from the classics of Shakespeare, Shaw, and Moliere to the works of contemporary writers such as Shepard, Stoppard, and Fugard. ATC has also committed itself to the development and presentation of new works, both on the main-stage and through special programs.

The intended 2016-17 season includes two popular new plays from the most recent Broadway season, Mike Bartlett's KING CHARLES III and David Javerbaum's AN ACT OF GOD, followed by the classic musical, FIDDLER ON THE ROOF. The season's second half would include THE RIVER BRIDE by Marisela Treviño Orta, winner of the company's National Latino Playwriting Award, the Johnny Cash revue RING OF FIRE and Jeffrey Hatcher's new mystery, HOLMES AND WATSON.

Artistic Director David Ira Goldstein introduces the season in the video. Visit ArizonaTheatre.org.