Tuesday, August 5, 2008

Portland Opera's season finishes big-time in the black

According to its most recent press release, Portland Opera's 2007-2008 season may have ended with a surplus of $1 million! According to the release, this success was due in part to "attracting building gifts" that substantially reduced the costs associated with The Hampton Opera Center.

To quote from the press release: "As a result of those gifts, the $4.1 million in financing associated with the 2003 purchase of The Hampton Opera Center was substantially reduced to below $1.5 million, thereby enhancing the balance sheet and reducing the future interest payments associated with the mortgage."

The press release also stated that its new Sunday matinées have been a resounding success and overall ticket sales increased 5%, so that, for the first time in Portland Opera's history, over $3 million in tickets were sold.

The press release just came out this evening and has not yet been posted on the Portland Opera web site. I will link to it when it is posted. In the meantime, you can read it for yourself. Just click on the document below:

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