In the Arts: Debt Burdens Dance Groups, Philadelphia’s Curtis Raises $65-Million
April 7, 2009 | Read Time: 1 minute
New York City dance groups that invested in homes of their own in recent years now find themselves constrained by mounting debt, according to The New York Times.
Organizations such as Dance Theater Workshop and performance space Dixon Place have found new state-of-the-art buildings to be financial millstones in an arts field that nonprofit experts say was as overbuilt as the housing market.
In other arts news, Philadelphia’s Curtis Institute of Music has raised $65-million to rebuild its downtown site, The Philadelphia Inquirer says. The fund drive was spearheaded by the conservatory’s board chairman, the cable mogul and philanthropist H.F. Lenfest, who pledged $30-million if the school raised the same amount.
Also, The Boston Globe reports that the public broadcaster WGBH is asking staff to accept pay cuts and furloughs to help close a $3-million budget shortfall.
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