Who doesn't? There are several older threads on this site discussing fund raising - select "Show topics updated in the last year". I get nervous when I hear about a group with a new space and big bills to pay. In Seattle, one of their largest theaters ACT (A Contemporary Theater) is going bankrupt caused mainly by a new theater complex they moved into they can't raise enough to pay for. There are several other theaters in Seattle in serious financial trouble. On our local scene, our "big" theater is completing a $3 million expansion to a $1 million building. It is going to be tough for them to make ends meet. Productions do take a long time. Even the biggest theaters can't fit more than six productions a year into their schedule. Five shows is a killer pace and your volunteers will start to burn out.
I know one small (52 seat) theater who does five shows a year (wonderful productions) but always struggles because they can't make enough money off 52 seats even when they run full (which they usually do).
That said here are some ideas that I have heard - we have done a few but we are small and don't have any fixed expenses.
1. Sell memberships and season passes - there is a great book on this - "Subscribe Now!" by Danny Newman.
2. Do a mystery dinner theater - they cost about $100 to do but can bring in hundreds of dollars.
3. Do Readers Theater - they are fast, cheap and bring in audiences. There is an article about them on this site.
4. Do a musical review of locally done musicals. People love them. If you do non theatrical performances (no sets or costumes) and no one gets paid, you might not have to pay royalties - check with your local ASCAP representative.
5. Have a "Night of 1,000 Stars" - honor all those who have been in plays and backstage - everyone will come.
6. Join the rest of the world and seek grants. Do you have a Community Foundation in your city? What are their ground rules? Very few will make grants for ongoing expenses but love to pay for hardware - new flats, lights and so on - things that would be in your budget anyway but would free up funds for operational expenses.
7. Cultivate one or more "angels" who contribute significant amounts. We do not do any public fund raising - normally, we do not need to. Recently we needed to raise $3,500 for improved lighting equipment. I wrote personal (handwritten) letters explaining what we needed to several known philanthropists who were aware of our work BUT HAD NEVER BEEN PREVIOUSLY SOLICITED BY US and got what we needed in three weeks.
8. See if you can rent your theater on dark nights. Many individuals and groups are looking for meeting and presentation space. Our small theater building was used nine times by four different groups in the past seven days - while we had a full production going on.
9. Look for underwriters for your programs - individuals and businesses want to be associated with the theater and will pay pretty big bucks to have their names associated with specific productions (usually kids shows or family oriented fare but also new material or classic plays).
There are probably a lot more ideas out there.
One more point - how much do you have to raise and how much do you think you can get as a percentage of your annual budget? If your shortfall is just a couple of percent that puts it in a very different position than if you are 40% or 50% shy of balancing your budget. Be realistic. Our big theater is always struggling for money - it overshadows everything else they do - it is money, money, money. Not much fun for the Trustees. It is a very different proposition if you need to raise $1,000 a year rather than $50,000 a year.
Which leads me to one more point: Non Profit Board members are expected to raise money. "Bring it, Get it or Raise it" is the rule. Make sure your board has both worker bees and money bees. Having one or two known philanthropists on your board will do wonders in fund raising. Those with big bucks move in a different world than we do. Years ago, I served on our Medical Clinic Board (I was a worker bee!!!) There were some major money bees on the board and they contacted their friends and the money flowed. We had a goal of $1,000,000 and raised it in 90 days (and actually overshot our goal by $100,000). More donors gave over $1,000 than gave under $100. When you need big bucks you won't raise it selling candy and pop at intermission.
One final comment (I promise!!!): Be careful talking about needing money for operating expenses in order to keep your theater open. No one wants to give to a sinking ship. Grant sources are very afraid of propping up a loser - they don't want to be blamed as the cause of your theater closing if they pull their support. Be positive - talk about programs that you could do if you have more money - childrens programs, senior citizen programs, at risk youth, and so on - these are magic words in the world of fund raising. Talk about how you are improving your facility and what the money will go towards. Have a realistic program goal.
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