Though it has been laid low in recent years by litigation and bankruptcy, the Prince Music Theater, led by founder Marjorie Samoff, once held a handsome national reputation as a creator of art.
»Read story: A second wind and new owners for Prince Music Theater
»Read story: A second wind and new owners for Prince Music Theater
Comments (2)
So...the property of a not-for-profit theater company is being transferred to private ownership and one of the new owners is a long-time board member of the non-profit. The mission of the non-profit is being changed radically and will need to make enough money to assure its landlord a profit. And the former Artistic Director of the company, who is alleged to be one of its creditors, is hired as a consultant but "declines to say" if she'll be repaid her debt.
Sounds as if there's some more reporting to be done on this story. Because the juiciest parts of it have scarcely been touched on here.— BulletinBoy- "We know what we have to earn to break even," says Lotman, "and what we need to make a profit."
This is not actually how not-for-profits are legally required to conceptualize themselves.— BulletinBoy
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