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NEW PLANS. NEW CHALLENGES.
NEW MATCHING MONIES
The Gulf Coast Community Foundation is offering $500,000 in matching grants. $440,000 for Restoration and $60,000 for operating expenses. Many of you have been waiting for the opportunity to have your gifts doubled. The moment is NOW. Let's meet this challenge quickly!
NEW GOAL
The costs relating to rebuilding our theater have increased significantly. The theater suffered more extensive damage than originally thought - and the cost of materials has risen as well. Magnum Builders' proposed budget for the work that lies ahead is $13,620,000. With monies already raised - and monies that we know are coming - we will need an additional $7,000,000.
In addition, this year's operating budget will require $1,400,000 in contributed funds. Ticket revenue will be less than half of that we would expect to generate if the Jervey Theatre were operational. Be assured, the operating budget has been pared significantly.
So...we need to raise $8,400,000 in the coming fiscal year. Challenging, to be sure. Think of it in terms of $700,000 a month, or $23,0000 a day. It will take all of us - working diligently - to make it happen.
Please know that we have applied for numerous grants that have yet to be awarded - and we will be energetically seeking new sources of grant money. I am in the process of detailing a NEW PLAN to attain the goal, but I will be calling on all of you to assist in executing the plan. We can make it! But the CHALLENGE is great.
Roll up your sleeves and get ready for a year like no other.
Thank you all for your continued support,
Eric Watters
Director of Development
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