Theatre Artists Studio Board

Board:

Meeting Minutes

Minutes Archive

Board Meeting on March 5, 2019

7 Attendees:
Amy O`Loughlin
Carol MacLeod
Clark DesSoye
Harry Kaminsky
Marney Austin
Patti Suarez
Steven Mastroieni

Previous Board Meeting Minutes Approved

President`s Report
Landlord (Whitestone REIT) has been been inspecting the property in preparation for lease renewal in the summer. The person from the vendor they are using for these inspections has confided to Carol that two of the air conditioners will probably need to be replaced. This would be huge expense that The Studio would need to share with Whitestone.

Receipts for Brilliant Traces totaled more than $9,200 (with the GoldStar receipts still outstanding; they are usually about $600). There were a lot more general admission tickets purchased than usual, indicating that there were many more younger people in attendance.

Financial Committee Report
- February Revenue totaled: $14,380 (before adding in Brilliant Traces receipts), but the expenses included two rent payments (January and February). The January rent check that bounced (the first such occurrence in the history of The Studio) in January did not incur any bank charges. Though the monthly net income in the report was more than negative $10k, with the Brilliant Traces receipts added in it should be near even.

- Amy explained that the Advertising Expense on the income state is for Constant Contact, the emailing service used to market shows.

- On the Liabilities and Capital statement, Amy explained that Accounts Payable is for American Express.

Member Committee Report

Business Committee Report
Harry’s Business Plan proposal was discussed:

Goal: Make the Theatre Artists Studio financially viable

Objectives:

1 To negotiate an extension of our present lease for an additional 1-2 years at or near our present terms

2. To plan a campaign where we effectively raise money from targeted donors to sustain the Studio beyond the next season (2019-2020)

3. To increase ticket sales revenue for the next season (2019 - 2020) and the current season where possible by marketing shows to targeted groups

4. To explore partnerships to share Studio expenses

Plan:

The methodology of how to achieve each objective was partially discussed at the meeting but more input from business people and/or those with experience in each area (real estate, fund raising, marketing, artist collectives, etc.) is needed.

Going forward we begin by negotiating a lease extension (objective 1) so that we know how much time we have to achieve the other 3 objectives.

I would then recommend a half day retreat to identify the necessary steps to achieve the other 3 objectives. In addition to the Business Committee (which should also include Amy), we should hand pick and personally invite others that could assist us with this plan.This might include sustaining members, but should include those with the expertise and experience necessary to assist us.

Marketing Committee Report
Steve volunteered to apply for a donation from the Dorrance Family Foundation, after getting The Studio EIN from Amy. Other such opportunities will be investigated and applications submitted.

All agreed that it is important to quickly connect with potential donors from among our current Sustaining Member pool to learn the best ways to approach a larger donor pool.

Other Business
Marney brought up that a new friend of hers, a Keller realtor, expressed interest in becoming a sponsor. After discussion it was suggested that she tell him that he could be represented in the programs and on the website (with a logo and link to his site) for the remainder of the season for $500. This would include four tickets for each of the three shows. Sponsorship pricing and terms for next season will need to be determined as part of fund-raising efforts.

Adjourned at 7:15pm

19 Board Meeting Minutes