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6/1/2007
PAC expenses still a puzzle
Last week I congratulated the Fox Cities Performing Arts Center for their Lion King sellout and at the same time, reminded the community that very little of the profit stays with us, and that the PAC will still require in excess of $2 million in contributions annually from our community. Though in past pieces, I’ve detailed as much as I could about PAC expenses (search “Performing Arts Center” on the FoxPolitics.net site), a reader asked if I might detail production expenses to better communicate the net vs. gross for the PAC. I responded that no, I couldn’t do that because the PAC does not provide this level of detail. I promised to ask the question of Maria Van Laanen, PAC VP of Communications. Below, in blue, is Maria’s helpful response.
The presenting business is a little unique in that we are not producing any show product. Instead, our business model has us working with producers who invest in creating a show and covering all the costs to take that show on a tour across the country. [For our part, w]e have invested in a state-of-the-art facility.
Like any business the details of our specific contractual relationships are confidential, but I can tell you that each presenting partnership with the producers of shows is one that provides us the money to cover our expenses for the length of their stay (electricity, heating/cooling, stage labor, etc) and an opportunity to generate revenue through ancillary activities…..[i.e.] a percentage take on the show's merchandise that is sold in our facility as well as retaining our entire facility maintenance fee and money made through concessions revenue and added space usage by patrons coming to the shows.
Partner Live Nation Assumes Risk, Hence Garners Profits
For producers and presenters alike the live performing arts business is a very risky one. Just because you present a fantastic show does not mean that audiences will come. For this reason the Center chooses to enter into a business model that protects us from the major risk of a show that does not sell as well as hoped. We partner with Live Nation in presenting our Broadway series as a way to avoid any major losses. Yes, this means that we also share when a show makes it big, but in our industry the potential risk is much larger than the potential reward, so we choose to be sure we are protected. Just like any business you must find the right balance between risk and reward to assure your longevity in a community.
Economic Impact of Broadway Productions
During our 2004/05 season we participated in a national economic impact study for the touring Broadway industry. The Economic Impact of Touring Broadway results were published by the League of American Theatres and Producers, Inc. in May 2006 and showed that the traveling Broadway productions we present at the Fox Cities Performing Arts Center spent over $4.6 million dollars in our area while the audiences spent roughly $3.2 million in the area totaling an overall annual economic impact of nearly $8 million. The average ratio of spending was $2 for each dollar spent on theater tickets. That is all money that stays in our community.
[For more detailed information] our Annual Report… is on our website. Second, our federal tax form, Form 990 can also be found online. What's more, we are always open to taking anyone through a deeper explanation of how our industry works. As a local nonprofit organization we do have guidelines we are required to follow in financial reporting to the government, both federal and state, and these records are always open to the public.
So… here’s the Annual Report. Here’s the 990 (Free registration with Guidestar required). If any of you can figure out PAC finances in more detail than I’ve tried to present (here and here, for example), having spent hours and hours with the reports and with PAC executives, you’re better men or women than I! As always, I welcome any thoughts on the matter.
COMMENTS
What alot of verbage to say next to nothing.
Maybe someday - just maybe - this COMMUNITY organization will give its public a straight answer to fair questions posed. I guess we will wait a bit longer; the answers surely didn't come today. Thanks for trying though.
lkp (Fri Jun 01 08:48:21 2007)
You are tenacious on this topic, Jo. You have done a very thorough job on attempting to relay information to the community on our very wonderful PAC. I can say that, had it not been for your skilled probing to get answers, we would all have felt very much in the dark.
Considering the bumps and potholes that were experienced at the Weidner Center on the UWGB campus roughly two years ago, those of us in the Fox Valley would hope we would fare much better. While the circumstances may not be the same, the desire to have a functioning, solvent, well-financed and effective PAC is of interest to us all.
Dick Kendall (Fri Jun 01 09:25:40 2007)
Corporate lawyers have a favorite phrase called "risk aversion". Samples can be found in those contracts for your credit card that are too small to read and indecipherable if you could read it. Risk aversion is all over these statements from the organization (see below) like a bad smell.
And apparently this risk aversion hasn't worked very well either.
With all this aversion to being anything but an empty building into which pre-produced entertainments are placed, what is the value of a 'management team' of president 1) and vice presidents (3) of any sort? If most if not all major decisions come from ClearChannel (Live Nation is a profit Center of that broadcasting giant) then local control is minimal.
And if risk free entertainment is the goal rather than artistic endeavor and community enhancement, I have a suggestion: Since the place is closed during the high tourist and convention travel months of the summer, why don't they put in a water slide like the rest of the kiddie attractions?
Lon Ponschock (Sat Jun 02 08:50:18 2007)
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