Greensboro, NC -- A venue that has become a downtown staple is hoping to start the New Year off on a good note.
Triad Stage was challenged by the Bryan Foundation and the Cemala Foundation in December to match $250,000 committed to them by the two foundations. The deal hinges on the theater raising the same amount from the community by Friday, January 4th. This would put the theater in the "black or negative" for the start of 2013.
According to Triad Stage representatives, the community theater has received about $236,809 from 668 donors, as of Wednesday. That means they need about $13,191 more donations by Friday to meet the challenge.
Here's how you can help:
Mail-in or In-person donations: 232 South Elm Street, Greensboro, NC 27401
Or Visit Triad Stage's donation page.
For a list of benefits, download a pledge card.
How was this debt acquired?
Triad Stage says it owns two buildings; the theater at 232 South Elm Street and the production facility on Holbrook Road near the Coliseum. While these buildings provide a strong asset base, they are also tying up significant amounts of cash.
The production facility was an unexpected purchase after a forced relocation required immediate action. That move resulted in an unplanned $600,000 expense.
The new expense, combined with a long-lasting recession that has substantially impacted the primary constituent base, requires a strong solution that puts the organization on firm footing for the next 12 years.
WFMY News 2