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When the board of the Washington Opera Company decides to seek to catapult the successful regional organization into the exclusive ranks of the top opera companies in the US and the world, it faces a series of daunting strategic problems. This case describes the high-risk strategy which it chooses, most notably its decision to tap its funding base, in order to try to double its operating budget, to hire as its director the world-famous opera star Placido Domingo and to seize the chance to purchase and renovate a building which could serve as its new home. The difficulties it encounters and the changes in strategy it decides to pursue allow for discussion of strategic planning in a major nonprofit arts organization.