Subject category:
Strategy and General Management
Published by:
Stanford Business School
Version: 25 September 2016
Length: 23 pages
Data source: Field research
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https://casecent.re/p/148633
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Abstract
The Joffrey Ballet is a landmark Chicago non-profit performing arts organization that helped shape the landscape of American ballet. In 2016, the Joffrey was at a point of transformation after a period of financial crisis and artistic decline. It had successfully raised USD4 million for the widely anticipated new production of the Nutcracker. With annual revenues at around USD20 million, this production represented a significant investment, and the organization needed to continue its artistic momentum while maintaining fiscal responsibility. The leadership team decided to launch an USD80 to USD120 all-funds campaign to ensure the artistic and financial health of the organization. Known for its diversity, the Joffrey Ballet had a history of balancing highly athletic performances of canonical works with boundary-blurring new ballets. Founded in New York City in 1954, it carved a niche as the distinctly American company in the ballet ecosystem known for its classical European influences. After its relocation to Chicago in 1995, the ballet relied upon its New York reputation in the face of financial and artistic woes. By 2016, however, the Joffrey Ballet was poised to reemerge as a major player in the national and international dance landscape. It had just celebrated its 60th anniversary and its 20th year in Chicago, and the leadership team debated the essential areas for investment going forward. The endowment, currently at about USD1.4 million as of June 30, 2016, needed to be grown. The profitable Academy needed more space and funds to grow, while Community Engagement programs offered the potential for impact in the community. Programming large-scale works from the most important choreographers was essential but costly. In order to attract donors and secure the Joffrey's future, the organization needed to craft a compelling fundraising case supported by a sound business plan.
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Abstract
The Joffrey Ballet is a landmark Chicago non-profit performing arts organization that helped shape the landscape of American ballet. In 2016, the Joffrey was at a point of transformation after a period of financial crisis and artistic decline. It had successfully raised USD4 million for the widely anticipated new production of the Nutcracker. With annual revenues at around USD20 million, this production represented a significant investment, and the organization needed to continue its artistic momentum while maintaining fiscal responsibility. The leadership team decided to launch an USD80 to USD120 all-funds campaign to ensure the artistic and financial health of the organization. Known for its diversity, the Joffrey Ballet had a history of balancing highly athletic performances of canonical works with boundary-blurring new ballets. Founded in New York City in 1954, it carved a niche as the distinctly American company in the ballet ecosystem known for its classical European influences. After its relocation to Chicago in 1995, the ballet relied upon its New York reputation in the face of financial and artistic woes. By 2016, however, the Joffrey Ballet was poised to reemerge as a major player in the national and international dance landscape. It had just celebrated its 60th anniversary and its 20th year in Chicago, and the leadership team debated the essential areas for investment going forward. The endowment, currently at about USD1.4 million as of June 30, 2016, needed to be grown. The profitable Academy needed more space and funds to grow, while Community Engagement programs offered the potential for impact in the community. Programming large-scale works from the most important choreographers was essential but costly. In order to attract donors and secure the Joffrey's future, the organization needed to craft a compelling fundraising case supported by a sound business plan.