NACC in black
Centre reports healthy surplus
NNSL (Oct 08/99) - The Northern Arts and Cultural Centre is beyond being in the black.
NACC has managed to tuck away a healthy surplus of money for the second year in a row, treasurer Steven Richards reported at NACC's annual general meeting last Thursday.
The centre had an excess revenue of $21,618 for 1998-99, meaning that much more money came in than NACC spent, according to Richards' report, tabled at the meeting.
Add that to the $17,958 excess revenue from 1997-98, and NACC has "a healthy accumulated surplus of $47,954," reported Richards.
"I think it's through a clarity of mission this past year," Richards said. "I think NACC went through some growing pains, and is now well on its way."
Richards attributed much of NACC's financial success to a focus on renting the theatre facilities out to local, territorial and national performers and theatre groups.
"Our mission is to support the arts and cultural community of the Northwest Territories," Richards said. "There are many theatre groups in the N.W.T who are doing their own thing and just need a place to do it. "
He said support from the city and the GNWT, along with many corporate sponsors, has helped NACC be a success this year.
Charles Laird, a member of NACC's board of directors, said the increase in revenues shows an increase in community interest.
"It's up to our new board to now decide NACC's purpose in the community," Laird said. "We must decide whether to be more involved in productions, co-productions, or stay as more of a rental facility."
Like Richards, Laird pointed out renting the facility helps NACC achieve financial stability and its mandate.
"With rentals, you rest easy. We keep up revenues, but there's less freedom in offering programs that way."
And the money in the bank? Richards noted if the centre needs new theatre lights or other equipment, the healthy surplus would be history.
Laird agreed, but if he could spend the money on just one wish . . . "As the president of the Far North Film Festival, I'd want to purchase a 35-millimetre film projector," he said, laughing. "But that would be a major extravagance."