2018-407-E Arts - Voices Chorus arts grant

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DocuSign Envelope ID: E271EC54- B954- 46F4- BCE3- 9FB02C9E1328 Organizational Goals The two primary goals of VOICES are to provide a setting for our members to enjoy singing, and to engage the community in the appreciation of cultural heritage embodied in music. Our financial goal for FY2019 is to generate a surplus of $8,000 to stabilize our operating reserves. VOICES is a large community arts organization that strives for excellence in presenting 5 -6 unique concert programs each year in Orange County. Our organization places a high value on offering a very diverse and challenging repertoire for our members and on introducing new compositions or those infrequently performed in addition to a more traditional choral repertoire. As can be appreciated from the attached income /expense statements and projections, our annual operating budgets average $85,000 +/- 7,000 for operating funds. An additional $12,000 + /- in pass- through funds for membership services such as music, performance folders and attire are reimbursed by the members. (Of note, VOICES also serves the Carolina International Chorale during years when it travels. This budget - neutral activity is reflected in travel income /expense lines in FY2017 and FY2018.) Each season's operating budget is directly influenced by the musical programs which translate to costs for instrumentalists, rental of large instruments such as tympani, and the need for soloists, an organist, or other solo instrumentalist. A limited number of venues can support the staging requirements of our large symphonic chorus with an orchestra. Historically VOICES has used Hill Hall on the UNC- Chapel Hill campus for these concerts and area churches for CANTARI's performances (University United Methodist, Chapel of the Cross, and Holy Trinity Lutheran). After years of stable, positive cash flow, FY2017 ended in a large deficit due in part to the closure of Hill Hall for renovations. The loss of this economical venue for two years resulted in both a significant increase in costs for hall rental (Carolina Theatre of Durham; Memorial Auditorium) as well as a reduction in December ticket sales. This loss was compounded by the unusually large orchestras required by the programs for both VOICES concerts during FY2017. Thus, VOICES began FY2018 with a cash reserve insufficient to meet our Fall, 2017 operating expenses, which we supplemented from our endowment. Previously, the board had positioned VOICES on a 3- year plan to recoup our reserves. In FY2018, we project we will have recouped the funds borrowed from our endowment and built the end - of -year operating reserve to acceptable levels. This outcome was achieved through careful programming choices, excellent ticket sales, and a successful matching funds campaign in the Fall of 2017. This Grass Roots Grant from OCAC will assist VOICES in achieving a stable financial position again that will permit us to perform in the settings that provide the most enjoyment for both our members and Orange County audiences.