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VPAA10H3 โ€“ Intro to Arts Management: Lecture 8 Notes
๎€Professor Frostโ€™s office hours: Thursday โ€“ Noon to 1pm, 1pm โ€“ 2pm Friday AA329
๎€Todayโ€™s topic: Budget, Arranging Resources
๎€Commercial entity in organizing budget
๎€YouTube Video
oWizard of Oz scene, where the wizard was really a man behind the curtains on a
mic
oThus signifying that we are backstage workers
๎€Budget โ€“ how much money/funding do you have in making a project happen?
oHas both revenue and expenses itemized
oHow much your actors will cost you?
๎€The look at Money
oWhy donโ€™t the arts pay for themselves (or do they)?
oNFP misconception is that they do not care much about money nor charge for
admission
oNFP do however train personnel, production managers, theatre
oArts that pay for themselves โ€“ Royal Thompson Hall, โ€œHigh Culture Eventsโ€
such as opera, Sound of Music/Commercial shows, Dancap Productions โ€“ Jersey
Boys Toronto
๎€‚Yet some cannot pay for everything
oCommercial sectors purpose is to make money
oโ€œAngelsโ€ = investors in commercial theatre โ€“ lose the money theyโ€™ve invested
oNFP Sector (Mandate) - $ Surplus
๎€‚Surplus is then used to reinvest in the activities of the organization
๎€‚Trying out through conceptual art, dance, theatre โ€“ trying on sizes
๎€‚NFP is where things begin; risks are more common
๎€‚The audience is paying for something that is unknown
oProfit โ€“ Revenue > Expenses
www.notesolution.com
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Document Summary

Vpaa10h3 intro to arts management: lecture 8 notes. professor frost"s office hours: thursday noon to 1pm, 1pm 2pm friday aa329. youtube video: wizard of oz scene, where the wizard was really a man behind the curtains on a mic, thus signifying that we are backstage workers. yet some cannot pay for everything: commercial sectors purpose is to make money, angels = investors in commercial theatre lose the money they"ve invested, nfp sector (mandate) - $ surplus. surplus is then used to reinvest in the activities of the organization. trying out through conceptual art, dance, theatre trying on sizes. nfp is where things begin; risks are more common. the audience is paying for something that is unknown: profit revenue > expenses www. notesolution. com. earned revenue tickets, gift-shop items, concessions (food or beverages), cds, t- Shirts, bar, use of your resources (rehearsal hall people can rent out space for any kind of arts recreation)

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