The Importance of Forward Thinking:
An investment in Prospect’s working capital resources is a vital, strategic endeavor as the company enters its third decade. The Forward Fund will empower Prospect to continue producing bold, new works and to embrace artistic opportunities.
FOCUS FORWARD: We’re over halfway there!
TOTAL FUND GOAL: $300,000 in gifts and pledges by Dec. 31, 2020
AMOUNT AS OF AUG. 31, 2020: $173,025 – that’s 57%
Click above to donate securely online via Paypal! You may use a major credit card or your Paypal account balance. Please check the "share my address with Prospect" option so we may send you an acknowledgement letter for tax purposes.
We will also gladly accept pledges for contributions to be made in calendar year 2020 or 2021. Please contact us via email to make your pledge. Or, call us at 212-594-4476. Melissa Huber, Managing Director – Melissa@ProspectTheater.org or Cara Reichel, Producing Artistic Director – Cara@ProspectTheater.org
What is The Forward Fund?
In 2017, as Prospect grew into a new level of off-Broadway producing and our budgets increased accordingly, the company's Board of Directors established The Forward Fund: an initiative to provide the financial resources necessary to mount productions on a larger scale. The Forward Fund is not an endowment; it is a board-designated working capital fund intended to build organizational capacity so Prospect may confidently continue in our mission to develop and produce new musical theater.
How does The Forward Fund work?
The Forward Fund is a separate account from our annual operating funds. When Prospect launches new projects which require capital resources, the Board can elect to use monies from the Fund, rather than seeking loans from outside sources. Draw-downs from the Fund are then replenished to this account subsequent to each production or project, typically within one year.
Why does Prospect need The Forward Fund?
When Prospect produces a show, we need to pay the majority of production expenses prior to receiving ticket sales income, and sometimes before grant funding becomes available. For example, in order to reserve a performance venue for next year, we need to make a deposit on theater rent, typically between $10,000 - $25,000. These early funds are usually necessary more than one year in advance of the show, and we won’t receive ticket sales income until after the show is up and running. The Fund helps bridge the gap in the company’s cash flow!
How has The Forward Fund helped so far?
Here’s a great example of how this working capital resource helped us take advantage of an exciting artistic opportunity in 2019: For the cast recording for The Hello Girls, we were offered $25,000 in support – but knew these funds would not arrive until after the date on which the actors were available to record. Rather than postpone, we were able to confidently proceed, knowing we had access to the funds required to cover the recording costs. Getting the cast album into the world efficiently has helped further expand the audiences that can experience this show!
We’re happy to provide more information if you are interested.
Your Donation Makes a Difference!
Prospect Theater Company is a 501(c)(3) non-profit corporation, and all contributions to our company are tax deductible to the extent allowed by law.
We are extremely grateful to accept your contribution tvia the method that works best for you!
To donate by check, please make your gift payable to “Prospect Theater Company,” and include a note that the contribution is intended for The Forward Fund.
Please mail to:
Prospect Theater Company
520 8th Avenue Suite 307 3rd fl
New York, NY 10018