Orange County NC Website
Browse       Search
Organizational Financial Statements <br />Budget_v s_Actuals_Chelsea_Art_Theater_2021.pdf <br />Chelsea_Art_Theater_Budget_for_2022_copy.pdf <br />DRAFT_2023_OPERATING_BUDGET_-_Sheet1_2.pdf <br />2020_-_990_.pdf <br />Deficit/Surplus Due to receiv ing SVOG grants we hav e been able to cov er the 2020 and 2021 deficits <br />of $165,911. The 2022 budget includes using $44,000 in cash from SVOG grant <br />proceeds to balance the budget. W e project a smaller gap in the 2023 budget and will <br />use SVOG funds now in reserv e. W e will also begin to repay a 30-year, $75,000 EIDL <br />loan as soon as possible but for the next eighteen months will pay interest only as we <br />continue to stabilize. <br />W e believ e that it may take three or more years to regain our pre-pandemic stability of <br />attendance and earned income. Attendance dropped by 50% after we reopened and <br />remains well below 2019-2020 lev els. Only with a significant boost in attendance (and <br />therefore ticket and concessions sales) to pre pandemic lev els will we be able to return <br />to equilibrium. Therefore, an ev en greater emphasis on fundraising, including <br />membership, operating support, and grants, is a priority of the board. <br />Are you an entity of <br />UNC-Chapel Hill or <br />another unit of state <br />government? <br />No <br />PROJECT/PROGRAM <br />INFORMATION <br />Tell us about your project or program <br />Title of Grant Request Operating Support for the Chelsea Theater <br />Grant Amount <br />Requested <br />$8000.00 <br />Is the person in charge <br />of this program or <br />project different from the <br />Authorizing Official? <br />No <br />W hat are you <br />requesting funding for? <br />Operational expense (arts organizations ONLY) <br />Request Summary Funds are requested to support the mission of the Chelsea Theater and will be used to <br />cov er general operating expenses, as well as to cov er the costs of presenting rare or <br />newly restored films, prov iding film notes and educational analysis (both digital and <br />handouts), and funding speaker honoraria. These operational activ ities are central to <br />the Chelsea’s mission and allow audiences to experience cinema in new and exciting <br />ways. Bringing audiences together with industry experts, filmmakers, and directors <br />creates an educational bridge between some of the greatest cinematic endeav ors and <br />our local community. <br />Since reopening, the Chelsea has worked diligently to position itself as a premier <br />destination for film v iewing. This has been achiev ed through the creation of a <br />foundation that begins with a completely renov ated and upgraded the facility, a <br />rev ised mission statement, and the addition of strong core v alues to guide all activ ity. <br />There hav e been significant enhancements to the staff, adding expertise and <br />experience in key areas; in 2021 a part-time digital media coordinator was added; in <br />early 2022 a part-time dev elopment/communications assistant; and in the past month <br />a professional film program manager (see attached resumes). In addition, the Chelsea <br />has attracted new board members whose knowledge of film greatly enhances the <br />collectiv e expertise of the board. Our April 2022 board retreat confirmed the Chelsea's <br />commitment to presenting the best in cinema, past and present; to making our <br />offerings av ailable as widely as possible to Orange County residents; and to <br />expanding our ability to prov ide related education programs. <br />DocuSign Envelope ID: C51EB45F-B413-43B9-9219-D43177B9056D