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News Releases 
CTC Records Third Consecutive Surplus in FY02 - Fiscal Stability, Artistic and Educational Innovation and Capital Campaign Progress Continue 
For Immediate Release: September 18, 2002
Minneapolis, MN - At the 2002 Annual meeting of The Children's Theatre Company Board of Governors, chair Ken Piper confirmed CTC's continuing across-the-board successes.
"It was an exciting year for CTC," said Ken Piper. "We are so pleased about all our artistic and financial successes, and that we can work toward better serving the community by progressing on our renovation and expansion plans. We need to congratulate the entire CTC team."
With total expenses of $8.4 million, the Theatre recorded an unrestricted operating surplus of $22,366 and a positive change in unrestricted net assets of $209,517. 348,720 young people and families were served by CTC in FY02 (nearly 7,000 more than FY01), including 80,000 students attending special matinee performances; 58,850 attendees of the 16th annual Midwest tour; and over 24,000 subscribers. Earned income was $4,928,119 (versus $4,888,957 in FY01). Annual fund income and ticket revenue rose nearly 1% and subscriptions were up 9%.
Once again, more than 12,000 individuals, families, corporations, foundations and government agencies supported The Children's Theatre Company. Total operational fundraising efforts resulted in $3,226,844.
"We are pleased to report a steady financial picture, especially in these unsteady economic times," says Teresa Eyring, CTC managing director. "The strong support of the community only bolsters our resolve to not only push the envelope of excellence in our artistic and educational programs, but to continue our efforts to renovate and expand this facility, allowing us to serve even more young people and families in Minnesota."
CTC turns away young people from its education programs and has never undergone any capital improvements since it opened in 1974. An Education Wing with dedicated classrooms, as well as a second, smaller stage that will serve teens and preschoolers, will allow CTC to more fully engage with the community. World-renowned architects Michael Graves and Associates continue work on a dynamic and welcoming new facade for the facility and Trizart Alliance is consulting on the reconfigurable second stage.
In FY02, the Theatre made significant progress toward its capital campaign goals and won the support of the full legislature for state bonding funds, even though that bill was vetoed by Governor Ventura. To date, CTC has secured or committed funds of $11.3 million dollars in its campaign, including $1 million each from General Mills Foundation, McKnight Foundation, Star Tribune Foundation and Target Foundation. CTC was one of 13 organizations nationwide to receive a Wallace-Reader's Digest Funds award of $700,000 dollars through its Leadership and Excellence in Arts Participation Program. The award was given to help CTC develop teen programming, as well as the "Around Series" programs that will enrich the theater-going experience with related music and visual art activities; Wallace Funds' support is another ringing endorsement from the funding community.
Mainstage production highlights included the beautiful regional premiere of Laurence Yep's adaptation of his book, Dragonwings, a tale of a Chinese immigrant family at the turn of the last century; and two world premieres that were developed in CTC's play lab THRESHOLD - The Beggars' Strike, a contemporary West African satire, and The Snow Queen, Ruth MacKenzie's striking and powerful adaptation of the Hans Christian Andersen tale. Several mainstage productions were also supported by the newly imagined Around Series; activities and events (usually free in the Red Lobby) related to each production that introduces young people to the larger world around them. And, of course, work continued on CTC's premier education and community programs: Neighborhood Bridges (which uses storytelling to develop critical literacy in inner city elementary schools), Whittier Family Night, Summer Neighborhood Arts Program, and Teacher Training Workshops.
"I couldn't be more pleased with the quality of work that we continue to produce, both onstage and off," says CTC artistic director Peter C. Brosius. "We are engaging with theater artists who've never worked for children and families before, as well as those whose life's work it is. And, we are helping to create better citizens through our education and community programs."
The 2002/2003 season has just opened to critical success and audience enthusiastic response with two out of the four world premieres in the season. At this very early stage of their runs, public and school matinee performances of A Year with Frog and Toad have sold 43,925 tickets, A Very Old Man with Enormous Wings has sold 20,442 tickets, and The Wizard of Oz has sold 37,005 tickets before they go on sale to the general public on September 29 (up 60% from last year's holiday show figures at this time). Dutch theater artist Moniek Merkx will stage the world premiere of Once Upon a Forest in January and playwright Jeffery Hatcher's Korczak's Children will follow in March. The season will close with the beloved CTC classic Dr. Seuss' The 500 Hats of Bartholomew Cubbins.
"We are moving forward on so many fronts," says Eyring. "From the subject matter, source material and talent involved in creating our mainstage productions to our deepening relationships in Greater Minnesota, not only through our annual tour, but community programs as well. And, from our commitment to teaching critical literacy in inner city schools to our progress in preparing to serve teens and preschoolers. It is an exciting time at CTC."
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