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Opera Carolina Ends Season on High Note with Positive Financial News

July 25, 2011

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    July 25, 2011
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    Opera Carolina News

Opera Carolina Ends Season on High Note with Positive Financial News

Charlotte, N.C., (July 25, 2011) - Opera Carolina, the leading professional opera company in the region, reported an increase in net assets of $408,718 on its preliminary FY2011 unaudited financial statement. The report was made by CFO Vanessa Thorne at the Company's Board meeting on July 19, 2011. The increase of net assets represents 14.5 percent of the company's estimated total annual income of $2,830,694.

"This positive financial result is due to the combination of increased ticket sales, sponsorships and private donations that we secured in response to reductions in government and institutional support, and the downsizing of the company during the recession," said General Director & Principal Conductor James Meena. "Now it is time to recapture the artistic creativity, and commitment to arts education that the company evidenced so well before the economic downturn."
In other meeting news, the Board of Directors elected the following new class of officers and directors for the 35-member Board, which began its leadership term July 1, 2011:

Georgette Dixon, Chair (Wells Fargo)
Steve Hershfield, Vice Chair (Time Warner Cable)
David Pfleeger, Treasurer (Parsons, Inc.)
Jeff Brown, Asst. Treas. (Accenture)
HIllary Cooper, Secretary (Arts Advocate)
Tom Hughes, Immediate Past Chair (Hearst Corporation)

The Board approved the following new members of the Board, whose terms begin July 1, 2011:

Stephanie Bissell, Arts Advocate
Adam Landau, Morgan Stanley

"I am honored to serve alongside this dynamic group of community leaders, which includes Charlotte's most ardent arts advocates and savvy business executives. Together we will lead Opera Carolina with a keen focus on its enduring mission to bring the finest caliber of arts programming and education to our region," said Gigi Dixon, Opera Carolina board chair. "Our upcoming season promises an exceptionally creative mix of treasured operas and novel productions that will appeal to both longtime opera supporters and new fans."

Opera Carolina's 2011-12 season opens with Verdi's stirring drama Il Trovatore starring Deynce Graves on October 15, 20 & 23, 2011; followed by Madama Butterfly on January 21, 26, 28 & 29, 2012 in a new production by visual artist Jun Kaneko; and the N.C. debut performances of Tchaikovsky's Eugene Onegin on March 17, 22 & 25, 2012. All performances take place at the Belk Theater in uptown Charlotte. For tickets call 704-372-1000 or visit www.operacarolina.org.

About Opera Carolina

Founded in 1948 as the Charlotte Opera Association by a small group of volunteers, Opera Carolina today is the largest professional opera company in the Carolinas with an operating budget of over $2.5 million. The mission of Opera Carolina is to inspire the region's diverse community through the presentation of excellent Opera, Operetta, and Education & Outreach programs that elevate the quality of life in the Carolinas. Opera Carolina is a community resource with a commitment to artistic excellence and community service.

Opera Carolina is supported by the Arts & Science Council-Charlotte/Mecklenburg, Inc. and the North Carolina Arts Council, an agency funded by the state of North Carolina, and the National Endowment for the Arts. Opera Carolina is a member of OPERA America.