NYC Opera says fundraising likely will fall short
This Sept. 15, 2013 image released by the Booklyn Academy of Music shows, foreground from left, Sarah Coomes, Robert Brubaker and Sarah Joy Miller in a Scene from "Anna Nicole" composed by Mark-Anthony Turnage at the Brooklyn Academy of Music Opera House in the brooklyn borough of New York. New York City Opera says it likely will fail in its goal to raise $7 million by Monday, the deadline it set for suspending the bulk of its 2013-14 season. (AP Photo/BAM, Stephanie Berger)
NEW YORK (AP) — New York City Opera could be sounding its final note this weekend — at least for a while.
The company says it likely will fail in its goal to raise $7 million by Monday, the deadline it set for suspending the bulk of its 2013-14 season.
"We'll discuss it with the board and look at the options that we have. It's pretty obvious what they are," board chairman Charles Wall said this week. "One would be to see if we can continue beyond September for a while to see if we are able to raise some additional money. A second one would be to begin the winding-up process for the opera, at least for the season."
A collapse would leave the 130-year-old Metropolitan Opera as the city's only major opera company.
"It would be absolutely appalling to imagine a city as great as New York not being able to have two major opera companies," said Kasper Holten, director of opera at London's Covent Garden. "If you look London, if you look at Berlin, if you look at Moscow, if you look at Vienna, they have two opera houses, and of course New York should have two opera houses."
City Opera's board was set to meet in a telephone conference call Thursday to discuss the next step. Wall said decisions could be put off until next week.
Having presented 12 to 16 operas with a peak of about 130 performances in a season, the company has shrunk to four stagings and 16 performances in each of the past two seasons. Its endowment has dwindled from $48 million in 2008 to $5.07 million at the end of June 2012, according to tax records, and its staff has been pared to 25.
City Opera announced Sept. 12 that it needed $7 million by the end of this month and said it hoped to raise $1 million of that total on Kickstarter.com. As of Thursday, $126,448 had been raised from 964 backers on the website.
Pedro Alarcón opera un taladro dentro de la mina "La Flauta" en Tausa, Colombia, el martes 24 de septiembre de 2013. Los habitantes de Tausa oran a diario para que las autoridades no cierren las pequeñas minas de carbón que son su sustento, ya que la zona podría ser convertida por el gobierno en reserva ambiental y quedarían prohibidas todas las explotaciones mineras. (AP foto/Fernando Vergara)
"It's incredibly difficult to run an organization of this size with our eye so closely fixed on the week-to-week cash flow. It saps the energy of the staff and frankly it undermines the bigger point, which is that the company by many measures is in better financial shape than it has been in a long time," City Opera general manager George Steel said. "We've been creating some of the best work we have ever done, but what we cannot do without is the capital to make our shows happen."