The Southern Rep Theatre, as of late, has found itself in an unfortunate situation. Though ticket sales and subscriptions are at an all-time high, and the arts education programming is thriving, the theatre still finds themselves stuck in a critical financial crisis in steering the expenses of their new location.
They need your help. The theatre is leading in new play development theatre in the Gulf South, engaging more than 200 artists and a growing audience. Despite their success and some independent producers booking the space, the theatre is still struggling to grow in its new location. They have yet to catch up with the expenses of their most recent move.
They had anticipated increased costs and small annual deficits in this transition process, but they had counted on contributed income forecasts to keep their heads above water. However, the theatre did not reach their goal and had to borrow funds to finish construction. In the past 18 months, the theatre has worked hard to raise funds through grants and donations and to improve and build their programming and revenue. They have grown substantially, but they still need your help.
Their choice to build an arts destination in the center of New Orleans has pushed them to the next level as an arts organization. The budget needed to pay expenses now stretches to 1.2 million this year, a 50% increase in two years, not counting the costs of the move.
The theatre has made great strides, increasing its revenue by nearly 40% in two short years. Unfortunately, they still require more funds than they presently have if they hope to pay move-in expenses in full and close the remaining gap.
The theatre, therefore, asks you, your community, your network, to help us take action and raise $350,000 by March 31. In doing so, we hope to keep our doors open. Please give today and help the historic institution continue on into its next chapter.