Two Funding Issues of Shakespearian Proportion
October 16th, 2009
How are the arts doing during difficult economic times? Many organizations are working their ways through the same financial stresses hitting every business this year. At BerkshireFineArts.com, Charles Giulano outlines the financial capacities and dangers currently pressing Shakespeare and Company to find savvy new ways to revise its business model. For arts management it’s a fascinating problem – The bottom line? “$10 million in debt seems overwhelming. Mescon stated that the debt is likely to be reduced by $2 million rather quickly. When loans are restructured and the company has a solid new business plan there are donors ready to step up with the remaining $1.2 million of the capital campaign. At which point the Kresge grant will provide the final $800,000.” To read his story, click here.
Here’s hoping that the plans and donors fall together and aid one of the most renowned Shakespeare venues in the world!
In a related fundraising event, check out how well-known Berkshires photographer Kevin Sprague is raising funds for his book of Shakespeare and Company photos, Imagining Shakespeare at Kickstarter. Kickstarter is a fascinating way for creative people to raise funds… it’s like knowing ahead of time that there’s a market demand for your work because people can support it ahead of its production. This reverses the usual problem of creating a bunch of artworks and having no idea if they will ever be successful in the market. Congratulations to Kevin for having met nearly half of his funding goal. 
