The Playgoer: Not So Well-Endowed:
Funny story, by the way, about the unique nature of this loss. The recent American Theatre/TCG "Theatre Facts" report (on the "health" of the nonprofit theatre industry from '06-'07) notes how dependent the bigger theatres have become on their endowments for their overall income. For better AND, now, for worse.
So, in the "good times" of '06-'07, we're told that even while subscription income grew only 4% and "single ticket earnings slumped nearly 7 percent" that's not where the money was:
Theatres welcomes a 19-percent rise in interest and dividends between 2003 and 2007, while endowment income increased by 360 percent, and capital gains hurtled upward by 3,728 percent (yes, you read that right).
Who woulda thunk it, that nonprofit theatres would be among the prime beneficiaries of Republican capital gains tax cuts.