Lecture 8 Notes
ProfessorAnne Tasamine Frost
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VPAA10H3 – Intro to Arts Management: Lecture 8 Notes
Professor Frost’s office hours: Thursday – Noon to 1pm, 1pm – 2pm Friday AA329
Today’s topic: Budget, Arranging Resources
Commercial entity in organizing budget
oWizard of Oz scene, where the wizard was really a man behind the curtains on a
oThus signifying that we are backstage workers
Budget – 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 don’t the arts pay for themselves (or do they)?
oNFP misconception is that they do not care much about money nor charge for
oNFP do however train personnel, production managers, theatre
oArts that pay for themselves – Royal Thompson Hall, “High Culture Events”
such as opera, Sound of Music/Commercial shows, Dancap Productions – Jersey
Yet some cannot pay for everything
oCommercial sectors purpose is to make money
o“Angels” = investors in commercial theatre – lose the money they’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 – trying on sizes
NFP is where things begin; risks are more common
The audience is paying for something that is unknown
oProfit – Revenue > Expenses
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