Orange County NC Website
Browse       Search
W hat is your <br />organization’s <br />estimated financial <br />loss to date as a <br />result of COVID-19 <br />(dollar amount): <br />-65000.00 <br />W hat amount are <br />you requesting from <br />the Arts Support <br />Fund? <br />1000.00 <br />If granted, how will <br />you use the funds? <br />Funds will be used to support general operating expenses. <br />Have you received <br />or applied for any <br />other emergency <br />funding, either <br />through the CARES <br />Act, NEA, or any <br />other emergency <br />relief fund? Please <br />explain. <br />W e hav e receiv ed a $75,000 EIDL loan; a $27,756 PPP loan that will <br />cov er payroll for the balance of the calendar year. W e prev iously <br />receiv ed a grant from the earlier round of OCAC funding. W e <br />receiv ed $5,7250 from the Arthouse America Campaign, an initiativ e <br />of the Criterion Collection and Janus Films. <br />Does your <br />organization have <br />cash reserves? If so, <br />please explain your <br />decision to use or <br />not use these <br />reserves as a result <br />of COVID-related <br />losses. <br />W e hav e approximately $40,000 in cash that is not loan money. W e <br />are trying to maintain cash reserv es to fund operations into the <br />future for the following reasons: 1. Our reopening date is uncertain <br />due to public health and safety requirements. 2. W hen we reopen, we <br />expect there will be lowered attendance limits, which will adv ersely <br />affect our rev enue and thus profitability. 3. W e do not know to what <br />extent will mask wearing will inhibit concession purchases, an <br />important piece of our financial picture. 4. Some of the cash may <br />hav e to be used for renov ations while donations are coming in. <br />W e are trying to plan for many unknowns. <br />Please upload your organization's most recent Form 990 or most recent year-end financial <br />statement. <br />Chelsea_2019._Form990.pdf <br />How else may we <br />help you right now? <br />Thank you for being here! <br />DocuSign Envelope ID: 6B24B922-084A-4E8B-BB72-4736AAAC1D46