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 Post subject: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Sat Sep 02, 2000 9:19 pm 
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Image <BR>SJCB AD Dennis Nahat<P><BR>According to the Akron Beacon Journal, the San Jose Cleveland Ballet is on the brink of closing due to a debt of almost 1 million USD.<P>Writes Elaine Guregian:<P> <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>The company consists of 43 dancers and 38 staff members. Last Friday, it was not able to meet its payroll of $90,000. <P>The payroll varies, because some people are paid weekly and others biweekly. Last week's amount included biweekly paychecks, according to spokeswoman Linda Jackson. <P>Todd Fox, a company dancer and president of the American Alliance of Dance Artists, a union covering all of the company's dancers, said the dancers are concerned, but have decided to continue rehearsing because of the opening program's difficulty and their confidence in the board. They are in their fourth week of rehearsal and will decide each week whether to continue.<HR></BLOCKQUOTE><P><BR><B><A HREF="http://www.ohio.com/aol/aolns/001150.htm" TARGET=_blank>More</A></B><P>[This message has been edited by Azlan (edited September 02, 2000).]<p>[This message has been edited by Azlan (edited June 17, 2001).]


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Mon Sep 04, 2000 10:08 pm 
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Location: London, England; Tallinn, Estonia
I've got my fingers and everything else crossed that the Company keeps going, but as an ex-banker I know that failing to be able to meet a pay bill is a very serious situation.<P>I'm sure that the Board are doing all they can, but either previous attempts have failed or they have had their heads in the sand.<P>How is the company rated? It's interesting to think that in UK terms, 43 dancers would make them the 4th or 5th largest dance company in any style.


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 1:05 am 
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why is it called cleveland san josé ballet?<P>i've read the article, which explains that the 'cleveland' part was the company's original title - but not why. was this company somehow imported from cleveland, ohio? or is there a cleveland next door to san josé?<P>also, please can an ex-banker or someone else tell me what an endowment (in this case of 30 million dollars) is? ~ thank you!

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 1:27 am 
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Endowment seem to be a common form of major donation in the US and is in the news today in the UK with plans by the Conservatives to set up endowments for major universities. Basically, it is a way of providing income for the future. Thus the beneficiary has the use of the interest income from the endowment, but does not have access to the capital. <P>From an earlier article, the Company operates in both cities and changes the order of its name depending upon where it is performing - sometimes Cleveland San Jose and at others San Jose Cleveland.


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 2:50 am 
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Location: The Bronx is up; the Battery's down
An endowment is a fund -- usually large (it <I>has</I> to be large in order to be effective) -- whose capital is invested but not spent; the benefit comes from the annual interest returned from those investments.<BR>

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 4:30 am 
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so: WHO would provide such a large sum of money, without being able to access it and without gaining the substantial interest? beats me!<P>also: what a wierd arrangement! it never occurred to me that they would move between two cities nowhere near each other - do the dancers & staff then spend regular periods of time living in both places?

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 5:08 am 
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Re. donations - it's different in the US grace. Here is a link to the story about the recent $40m donation to the Ornage County Arts Centre. Although this was a donation to finance new building rather than an endowment.

<a href=http://forum.criticaldance.com/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=15;t=000104 target=_blank>Orange County Performing Arts Center</a>

I'll leave the company's geographical juggling act to my US freinds.

[Edited to correct URL]

[This message has been edited by Admin (edited June 17, 2001).]

<small>[ 08-11-2002, 16:58: Message edited by: Azlan ]</small>


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 5:43 am 
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thanks stuart - i had a look at that thread.<P>i can understand someone completely giving away money for a building - which might even bear their name, for example, as an example of civic contribution, etc - but with this endowment idea, i don't see how the donor benefits. they don't get some visible concrete item named after them in perpetuity.....also i wonder wheteher or not they get the tax breaks that a direct donation does?<P>i mean, it doesn't really MATTER to me - i'm not exactly in a position to be considering whether to do one thing or the other (!) Image - just curious....

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 6:59 am 
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Location: The Bronx is up; the Battery's down
In the US, there are a number of reasons why a donor might wish to contribute to an endowment.<P>A. The donor might be particularly fond of a certain organization and wish to donate in order to give it financial stability.<P>II. The donor might wish to take advantage of the various tax incentives that our government* uses to encourage donations to not-for-profits.<P>Also, remember that a $40 million endowment might not have been a single donation; it might be the sum of several smaller gifts. For that matter, unless a donation is specifically mandated to be used in a certain way, I imagine that it could be either added to the operating budget or to the endowment, at the management's discretion.<P><BR>* until certain political parties gain power again<P>------------------<BR>=-=-=-=-=-=-=-=-=-=-=<BR>Jeffrey E. Salzberg, Lighting Designer<BR>Online portfolio, now including "This Day in Arts History":<BR><A HREF="http://www.suncoast.quik.com/salzberg" TARGET=_blank>http://www.suncoast.quik.com/salzberg</A> <P><BR><p>[This message has been edited by salzberg (edited September 05, 2000).]

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 7:00 am 
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As far as I understand grace, the endowment donor is 'completely giving away the money'. They don't get it back at some stage. <P>The purpose is clearly for on-going finance and for a lot of companies, like CSF, this is exactly what they need. I think we can rely on the fact that the beneficiaries will do whatever (within reason), the donors want. Unforunately it seems that a lot of donors are beyond reason.<P>US tax is outside my realm of expertise, but I would expect that the tax breaks are the same as for a capital donation. After all the money has been donated and is no longer the property of the donor - that dream of an 120' yacht will have to be downsized to a mere 80 footer. <BR>


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Tue Sep 05, 2000 12:32 pm 
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Location: Salt Lake City
Lots of people who have lots of money will donate to get a tax break in the USA.<BR>The more they give, the better they look, the less tax they have to pay.<BR>NO they do not get any return on the funds, but they usually get their names on the building or the ballet or whatever.<BR>It is a way of getting rid of money so that the goven't doesn't get it, and some other organization profits from it.<BR>The Organization will invest the money and use the gains to build the endowment until it is the correct size to use, or just use what the interest is off of a large sum.<BR>Depending upon the return, the organization gets a tidy sum to use, and not touch the principle.<BR>This is US capitalism at its best.<BR>????<BR>AT least it is a way the millionares get from having to just give the money to the goven't.<BR><P>------------------<BR>bek<BR>CCA CREATIONS<BR>Website:<BR>http://members.tripod.com/~Casalino<P>

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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Fri Sep 08, 2000 7:50 am 
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Really bad news. Anita Amirrezvani writes in the San Jose Mercury News:<P> <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>The future of ballet in San Jose was thrown into jeopardy Thursday night when trustees in Cleveland voted to shut down their part of the company the two cities share.<P>The Cleveland group canceled its season and laid off the company's 40 dancers and the workers who build sets and make costumes, leaving San Jose with nothing but an administrative staff and a $4.5 million budget.<P>It's unclear how -- or if -- San Jose will be able to stage a season scheduled to begin Oct. 12.<HR></BLOCKQUOTE><P><B><A HREF="http://www.mercurycenter.com/premium/front/docs/ballet8.htm" TARGET=_blank>More</A></B>


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Fri Sep 08, 2000 8:11 am 
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More from Cleveland (AP):<P> <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>The ballet company has operated in the red for the last decade. <P>Andrew Bales, the ballet's San Jose executive director, said he was shocked by the Cleveland board's decision. The San Jose board operates in the black on a $4.5 million annual budget. <P>...<P>Each city has its own administrative staff and is financially independent. The dancers rehearse in Cleveland and travel to San Jose to perform.<HR></BLOCKQUOTE><P><B><A HREF="http://www.cleveland.com/newsflash/index.ssf?/cgi-free/getstory_ssf.cgi?o0233_BC_OH--ClevelandBallet&&news&newsflash-ohio" TARGET=_blank>More</A></B>


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Fri Sep 08, 2000 12:52 pm 
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Doesn't 38 staff members to 48 dancers seem like a lot of staff members to anyone else but me? That seems a little out of whack! Also, in answer to Grace's question, San Jose and Cleveland share the company...they are nowhere near each other geographically, (across the country, actually) but I don't know how this particular alliance came to be. From what I've heard through the grapevine, they didn't have much audience (turn out, that is)in San Jose.....remember that's the heart of Silicon Valley, so methinks folks there would be more into digital type entertainment (video, DVD, blahblha,although of course I'm all for live dance entertainment myself....also they have much competition there in the Bay Area with San Francisco Ballet, Oakland, Lines, etc....so, I think they got more support in Cleveland, which is where they originated.....that's all I know about that!


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 Post subject: Re: San Jose Cleveland Ballet On Brink of Closing
PostPosted: Fri Sep 08, 2000 1:26 pm 
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And from Wilma Salisbury writing in the Cleveland Plains Dealer:<P> <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Board members will meet with the dancers this morning to tell them their contract has been terminated and that they will not receive paychecks today. "Everyone will be devastated," said Raymond Rodriguez, principal dancer who was preparing to celebrate his 20th season with the company.<HR></BLOCKQUOTE><P><B><A HREF="http://www.cleveland.com/entertainment/index.ssf?/eventsguide/arts/features/0908ballet.html" TARGET=_blank>More</A></B>


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