PNT Hosts $20K Challenge To Save Their Theater, $40K Needed To Keep Open

Performance Network Theatre Board of Directors announces $20,000 community challenge to raise awareness and community support for Ann Arbor's professional theatre.

Organization must raise $40,000 by April 15 to keep the theatre open.

Performance Network's Board of Director's has completed its mid-year financial analysis. The conclusion: In the current realities of decreased corporate and state funding, and with more uncertainty around every corner, the organization must meet key financial benchmarks in order to stay financially viable, and continue to operate.

Performance Network Theatre must raise:
• 40,000 by April 15th - (just one week from today) to keep the theatre open
• $75,000 in new and increased donations, to increase its support base for the future
• $35,000 through a variety of other means by the end of the fiscal year
For a total of $150,000 by October 1, 2009

Development Director Janet Torno says "this is an opportunity for us to raise awareness about our financial needs and our dependence upon the community. Roughly half of our annual operating revenue comes from contributions, etc. When long-time donors' individual capacity decreases, as it has this year, we must make up the difference by the number of people joining our cause, AND by the increased commitment of those willing to step up to the plate in order to fill the gap." Community support is urgently needed RIGHT now to help the theatre survive.

The challenge: In order to meet this aggressive goal, a group of Board members and long-time supporters has issued a challenge drive. Gifts made by April 15th up to $20,000, new donations or increased pledges, will be matched dollar for dollar. PNT is currently accepting donations of any size over the phone at (734) 663-0681 and on the website at: www.performancenetwork.org.

Milarch says: "For some time, we've known that new support is urgently needed to replace donor attrition and the loss of corporate funding. This challenge gives incentive to those who may have thought about giving but not yet made the commitment, or those who are considering becoming more deeply involved. You can see in action, the power your support can have. A gift of $50 becomes a gift of $100 in an instant, doubling its impact through leverage.

This challenge comes in tandem with aggressive staff salary and budget cuts in order to meet the Board of Directors newly established benchmarks for financial viability, which include ending the year with a $70k cash position. Board member Ron Maurer said: "the board feels, in this economy, being financially strong enough to provide for unseen pitfalls is more important than ever. We have implemented more stringent financial oversight, transparency and cash flow management. We have also set a higher bar for what we consider baseline viability. While these higher standards are harder to maintain in this economy, they are more important now than ever."

The Plan: In addition to its cost-saving measures, The PNT staff is pursuing various means of funding, including grants and underwriting opportunities for programs and productions, in order to meet the long-term goal of $150k by October 1. In addition, it will postpone the last show of the 2008-2009 season, The Blonde, the Brunette and the Vengeful Redhead. This production will be added to the 2009-2010 season - current ticket holders will be contacted in the near future and given a variety of options.

Performance Network's Artistic staff continues to move forward with casting on its exciting 2009-2010 season, even as the Board and fundraisers work feverishly to meet the financial benchmarks necessary to continue operation. Artistic Director David Wolber says "In the toughest of times, the laughter, music and ideas theatre can bring are invaluable. We are not just keeping the theatre alive, we're maintaining an important outlet for people to come together, connect and celebrate life, despite the economic storm outside. We need this now."

The message: Community support is urgently needed RIGHT now to help the theatre survive. The theatre will pursue a number of means to get this message into the community, including emails, website, facebook, twitter and other online delivery methods. "Every gift makes a tremendous difference, " says Torno. "In a new age of philanthropy, important major donors are joined by smaller individual donors in a new model of fundraising. As evidenced by the Obama campaign and other online campaigns, millions of dollars are raised through donations of $5 and $10. The secret is in the number, not the size, of individual gifts."

Wolber calls on the organization's 27-year history as a testament of its value to the community: "PNT is a unique cultural resource that few cities of Ann Arbor's size can claim as their own. We've worked hard to earn our reputation as a leader in Michigan's theatre scene, winning more awards and nominations than any theatre in the state for three years running. We are fighting for the life of an institution that holds a very special place in the hearts of many, artists and audiences alike."

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