tag:blogger.com,1999:blog-7051425824673898715.post2322296752414147268..comments2024-02-20T02:13:45.982-08:00Comments on arts dispatch: Intiman Theatre, the Philadelphia Orchestra and the issue of transparencyBarry Johnsonhttp://www.blogger.com/profile/16025142209441081323noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-7051425824673898715.post-49972080413817074162017-01-12T23:12:51.150-08:002017-01-12T23:12:51.150-08:00knicks jerseys
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With lots of smaller and/or troubled companies, cash flow -- when your money comes in -- can be the killer. Small companies often can't get a line of credit with a bank (and Portland Rep had exhausted its line of credit, as I remember), so even if they are in the "black," they can come up short when paying salaries or payroll taxes or a major supplier, and then they are completely exposed. I've seen this happen a lot (and not just with non-profits). <br /><br />Your point about not having wiggle room to adjust is well taken, too. You are reduced to a few alternatives -- laying off staff, furloughs and yeah, the marketing budget, none of which is very palatable.<br /><br />And I love your take on the board and the sense of ownership... <br /><br />Thanks for persevering!Barry Johnsonhttps://www.blogger.com/profile/16025142209441081323noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-38060754804031604652011-04-22T14:00:50.530-07:002011-04-22T14:00:50.530-07:00I'll try again (this time having saved my comm...I'll try again (this time having saved my comments elsewhere):<br /><br />Providing arts boards with good financial information is fraught with challenges, including:<br /><br />(1) Forecasting ticket sales is really, really hard. How will the audience respond to the title? With what will the show be competing for audience attention and dollars? What will the weather be like when the show is on? Will it get good reviews and word of mouth? Will it get the cover of the A&E? Does anyone pay attention to the A&E anymore? <br /><br />(2) Many (most) board members don’t understand financial statements, or pay attention to them until a problem can’t be ignored any longer. They trust management to interpret the financial statements and to be transparent and honest. That’s fine until it’s not.<br /><br />(3) It’s often too late. By the time you’re in the middle of your season and your sales targets are being missed, there’s little flexibility in responding. Contracts have been signed, actors cast, sets and costumes have been built, subscriptions have been sold. Often the only place to hack away at expenses is the marketing budget and that’s like shooting yourself in the foot. <br /><br />(4) In the middle of a cash-flow crunch, it’s hard to be thoughtful and optimistic. When a board sees that payroll won’t be met, and when it lacks confidence in its own ability to make a difference, it panics and is unable to be thoughtful and strategic about the long-term. I think that’s what happened with Portland Rep.<br /><br />(5) Many (most) board members haven’t internalized a sense of “ownership” and responsibility for the health of the organization for which they serve. Nobody “owns” a nonprofit, but a board should feel a deep sense of responsibility for it as if it does.MightyToyCannonhttps://www.blogger.com/profile/14523823158706838012noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-61901467981918290162011-04-22T13:49:29.113-07:002011-04-22T13:49:29.113-07:00Ha! Moments after reading Cynthia's woes in lo...Ha! Moments after reading Cynthia's woes in losing her long comment, I then wrote my own long comment and lost it!MightyToyCannonhttps://www.blogger.com/profile/14523823158706838012noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-69969776550591041182011-04-21T17:04:41.972-07:002011-04-21T17:04:41.972-07:00Sorry, Cyn. Yeah, if you write a long comment som...Sorry, Cyn. Yeah, if you write a long comment sometimes, it "fails." I should post a warning! (It's happened to me, too.) I'd love to get your thoughts on this, though. BJ: I think companies the size of Intiman (and certainly the Philadelphia Orchestra) generate decent financial info and make reasonable revenue and expense projections. Now, whether the boards "digest" than information, test the narrative the staff gives them, etc., is more case-by-case. But I'm confident they have far more info than they've released.Barry Johnsonhttps://www.blogger.com/profile/16025142209441081323noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-49999578403494040932011-04-21T16:48:25.997-07:002011-04-21T16:48:25.997-07:00How do arts organizations deal with forecasting re...How do arts organizations deal with forecasting revenue and expense? Do boards typically get good and understandable information on where things are and where they are going?<br /><br />An organization can't be transparent about what it doesn't know.BJCefolahttps://www.blogger.com/profile/06853184790589644682noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-79807082669930999442011-04-18T16:29:19.928-07:002011-04-18T16:29:19.928-07:00aargh...just wrote a lengthy comment here, but hit...aargh...just wrote a lengthy comment here, but hit publish only to see "sorry, unable to complete your request." Too bad -- I had all kinds of interesting things to say about INTIMAN, ACT's turnaround, subscriber tickets and our similar experience in Portland with MTO...sigh. Maybe I'll try again after this test to see if it works :-)cynseattlehttps://www.blogger.com/profile/03546172133271149911noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-32119371975654335082011-04-18T13:03:01.107-07:002011-04-18T13:03:01.107-07:00Yeah, Intiman bailed on the 2011 season almost ent...Yeah, Intiman bailed on the 2011 season almost entirely. Now, I think they'll need to say exactly how they are going to spend any money they raise. So many details are missing from how they are going to unwind from all of this. Not sure how they'll be able to make it back...Barry Johnsonhttps://www.blogger.com/profile/16025142209441081323noreply@blogger.comtag:blogger.com,1999:blog-7051425824673898715.post-56637824407626133312011-04-18T12:53:36.206-07:002011-04-18T12:53:36.206-07:00Ouch and ouch. Lots of explaining is certainly nee...Ouch and ouch. Lots of explaining is certainly needed in both situations. In the case of the Intiman, one notes that its fiscal year and season run from April through March--so the 2011 season is being cancelled after only one of five productions. The official notice on the company's website includes this: "We are still working through details of how this impacts our constituents and will have more information available in the next week. All ticket holders will receive information in the coming days." <br /><br />In other words, they're still trying to figure out what to do about season subscribers and other advance ticket buyers. To the extent that the company has any cash sitting in the bank right now, we can safely assume that a good portion of it is from subscribers and, therefore, still "unearned" and a liability on the Intiman's balance sheet. Anytime a subscriber to a performing arts company's season gets stiffed, it undermines trust across the board.MightyToyCannonhttps://www.blogger.com/profile/14523823158706838012noreply@blogger.com