The Patterson Foundation Kickstarts Sarasota Opera's Entrepreneurial Plan Fundraising With Up To $50,000 Match

The Patterson Foundation is strengthening Sarasota Opera's effort to boost
earned income matching up to $50,000 in growth capital investments toward its Sarasota Opera Costume Studio. Sarasota Opera is one of the regional nonprofit organizations currently participating in Margin & Mission Ignition, an opportunity presented by The Patterson Foundation that helps nonprofits develop and implement an earned-income plan to strengthen their impact in our community.

Nonprofits are selected to participate in Margin & Mission Ignition's 30-month planning and implementation process after a months-long application period. No Margin, No Mission, a social enterprise and national consulting firm engaged by The Patterson Foundation, consults with the participating nonprofits on strategies and best practices to generate revenue throughout that process.

In 2019 Sarasota Opera greatly expanded its costume rental inventory with a historic collection of nearly 50,000 costumes from a leading opera costume rental house. This earned income opportunity was delayed by the COVID-19 pandemic and the worldwide shutdown of opera and theater institutions, but as they reopen, the company is revisiting its business plan to greatly expand its costume rental activities, to generate revenue to invest in its mission of presenting world-class opera.  Sarasota Opera recently shared its earned-income plan with potential donor investors during a fast-pitch-style event presented by The Patterson Foundation.

“Sarasota Opera is grateful to participate in Margin and Mission Ignition to help revisit this exciting, earned income opportunity that was impacted by the COVID pandemic,” according to Sarasota Opera's General Director Richard Russell. “We are deeply grateful to The Patterson Foundation for this opportunity and for providing the matching program to help us build capacity of this business.”

Donations for Sarasota Opera's Costume Studio will be matched dollar for dollar by The Patterson Foundation – up to $50,000 maximum. Pledges, in-kind contributions and debt funding are not eligible to be matched.

“The earned-income plans developed by the organizations participating in Margin & Mission Ignition are the result of months of dedicated efforts to grow their entrepreneurial capacity,” said Debra Jacobs, president and CEO of The Patterson Foundation. “This dollar-for-dollar match is a way for The Patterson Foundation to applaud the progress they have made so far in their 30-month journey while catalyzing the investments necessary to bring their plans to life.”

Margin & Mission Ignition is part of The Patterson Foundation's Nonprofit Thrivability initiative. This initiative connects nonprofits with expertise and resources to learn concepts like strategic decision-making while adopting and implementing entrepreneurial principles to generate enough revenue to support and eventually grow their operations.

For more information about Margin & Mission Ignition, please visit thepattersonfoundation.org or join the conversation using #TPFMarginMission on social media.

To learn more about Sarasota Opera's mission or contribute to its effort, please visit SarasotaOpera.org, or contact Director of Development Scott Guinn at sguinn@sarasotaopera.org or (941) 366-8450, ext. 416.