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ENSURING A SUSTAINABLE FUTURE
Toledo Opera is an important part of our arts community. This campaign will ensure the Opera has a larger predictable source of income, resulting in real benefits for our community as well as the regional and national performing arts scene. Our community and the opera industry need Toledo Opera to remain sustainable. Growing the endowment makes sense at this time when the company has demonstrated its vitality as a member of Toledo’s rich cultural life.
A REGIONAL AND NATIONAL ASSET
Today, Toledo Opera positively impacts the lives of thousands locally and across the country, from students taking part in local outreach activities, to audiences enjoying a performance in Toledo’s Valentine Theatre, to talented performers practicing their art.
Each time an opera production is created a large team of artists is built, bringing fresh ideas to both the classics and newly-written works. Assembling this team, Toledo Opera draws upon an international pool of professional talent, sustained by a network of opera houses throughout the world, of which Toledo Opera is an important link.
Producing operas requires both material and human resources, from sets, costumes and theater space, to orchestra musicians, makeup designers and stagehands. These resources are most efficiently sourced locally. At Toledo Opera, more than $1 million is raised annually, with approximately 80% spent locally, much of it with local partner organizations.
EACH YEAR, TOLEDO OPERA PRODUCTIONS RETURN TO THE COMMUNITY:
$95,000 in contracted services with about 35 regional singers, pianists, and theater professionals;
$100,000 in contracted services with the Toledo Symphony Orchestra;
$55,000 in wages for I.A.T.S.E. Local 24 Stage Employees; and
$48,000 in rental fees to the Valentine Theatre.
EACH YEAR, TOLEDO OPERA’S AUDIENCE GROWS
Toledo Opera has been steadily increasing its audience of loyal subscribers to the point where we currently have the largest number of subscribers in our history, equivalent to just over one house of 900 people. Sold out or near-sold out houses are now the norm.
In addition, our outreach programs - An Opera Is a Story, Opera on Wheels and Student Night at the Opera - are favorites among students and teachers in the region, reaching more than 20,000 young people from preschool through high school.
SOUND VISION FINANCIAL & OPERATING PRACTICES
Led by Toledo Opera’s executive director, staff members and board of directors, Sound Vision practices have resulted in:
A business model of best practices from the industry applied to local conditions;
Strong relationships with a growing number of donors;
A strategic plan for 2013-2016 that is already completed with a new plan in development;
An annual balanced budget;
Annual clean audits; and
A balance sheet free of long-term debt.
FORGING A STRONGER FUTURE
Currently Toledo Opera’s productions are funded by earned revenue (ticket sales), a small income from the existing endowment and large, one-time charitable gifts or sponsorships. Our Sound Vision maxim tells us that we must reduce our dependence on large sponsorships that need to be secured each year. Consistent with industry best practices, a larger piece of our annual budget must be generated from investment income.
Now is the time to grow Toledo Opera’s endowment to ensure the company remains strong. With this $4 million campaign, the subsequent increase in endowment earnings will fund 20 percent of the annual budget (an increase from 5 percent), essentially underwriting the direct cost of one full production a year.
JOIN US IN CREATING A SUSTAINABLE REGIONAL OPERA COMPANY
HOW TO GIVE
425 Jefferson Ave. Suite 601 Toledo, OH 43604
Suzanne G. Rorick, CFRE Executive Director - 419-255-7464
ENDOWMENT CAMPAIGN STEERING COMMITTEE
ENDOWMENT CAMPAIGN CABINET
CAMPAIGN CHAIRMAN .......... SANDRA SAUDER
HONORARY CHAIRMAN ......... RICHARD LAVALLEY
CAMPAIGN CONSULTANT ........ Aly Sterling Philanthropy