Alley Theatre Launches $80 Million Vision For The Future Campaign
The Alley has raised $12 million for the challenge with $13 million left to be raised.
By: Chloe Rabinowitz Jun. 25, 2024
Craig Jarchow, Alley Theatre Board President, has revealed the public phase of the $80 million Vision for the Future Campaign at the Alley's Annual Board Meeting on June 24, 2024.
“This campaign is the largest capital/endowment campaign by a Houston performing arts organization. The Vision for the Future Campaign ensures the legacy of our founder Nina Vance for generations to come,” stated Butch Mach, Alley Theatre Board member and Chairman of The Alley Theatre Vision for the Future Campaign.
The Alley Theatre Vision for the Future Campaign supports the Alley's endowment, artistic initiatives, building repairs after Hurricane Harvey, and provides operating and capital reserve funds for the Theatre. The campaign has raised $67 million to date.
The Alley received a $25 million challenge grant to finish the campaign. The Alley has raised $12 million for the challenge with $13 million left to be raised. Once this challenge grant is met, the Alley will successfully complete its $80 million goal.
The $25 million challenge grant will match dollar for dollar every gift made to the campaign. Cornelia Long made the grant in honor of her husband, Meredith J. Long, who served as Chairman from 1989 to 1993 and continued as Chairman Emeritus and Life Trustee until his death in 2020. This is the largest individual gift to any performing arts organization in Houston. The Alley Theatre building was renamed Meredith J. Long Theatre Center in honor of Mr. Long.
The campaign has four major objectives.
- Alley Theatre Endowment $31M
- Artistic Investment Fund 19M
- Hurricane Harvey Recovery Fund 20M
- Operating and Capital Reserves 10M
$80M
The $31 million Endowment Fund will double the Alley's endowment. The Artistic Investment Fund will support artistic initiatives over a ten-year period at $1.5 million per year as well as for the new production of A Christmas Carol, which premiered in 2022. The Hurricane Harvey Fund helped pay for the losses sustained in the flood and the cost of the mitigation improvements. The Operating Reserves created a $5 million cash reserve and a $5 million capital improvements reserve.
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