The Dallas Opera Announces the Deficit-Free 2005 Season Finale!

The Dallas Opera Announces the Deficit-Free 2005 Season Finale!

DALLAS, May 26 /PRNewswire/ -- The Dallas Opera will close the books on the 2004-2005 fiscal year "in the black," having eliminated in just two years a nearly $800,000 accumulated deficit. The Dallas Opera defeated projections that the company deficit would grow to $1.5 million during that same period.

The achievement represents an authentic turning point for the North Texas performing arts scene, as it copes with the challenging economic conditions.

In remarks made prior to official announcement at the board meeting and annual appreciation dinner for the Board and Trustees, held at the Adolphus Hotel in downtown Dallas, Dallas Opera Board President John T. Cody, Jr. praised Dallas Opera General Director Karen Stone for her "responsible stewardship and her skillful handling of staff, patron, and donor demands, energizing The Dallas Opera as never before."

"Her incomparable leadership has paid off in improved employee morale, insightful involvement in the design phase of the new Margot and Bill Winspear Opera House, and the realization that artistic quality does not have to be compromised for the sake of the bottom line."

Also on hand for the stellar occasion were several individuals who played key roles in the quest to defeat the deficit, including Dr. William W. Winspear and Mark Meadows of The Meadows Foundation.

The Meadows Foundation's 2003 pledge of a $250,000 matching grant (in response to the severe impact of economic recession) served as the catalyst for a two-year Special Campaign to wipe out the accumulated deficit; a campaign, which officially ends on May 31, 2005. Dr. and Mrs. Winspear rose to the occasion by promising another half million dollars in matching monies towards the cause.

Ultimately, the goal was reached through a combination of cost-cutting measures and patron and donor gifts, despite a continued shortfall in overall ticket sales since 9/11.

"As a leading arts employer in North Texas, it is meaningful -- and right -- that The Dallas Opera would be a leader in restoring fiscal responsibility during what may be the toughest period we have ever faced.

"It is safe to say that The Dallas Opera has not only met but also exceeded the financial challenge of our time. And, in an economy that depends more and more heavily on the availability, variety and health of the performing arts as well as other cultural and entertainment opportunities; this is outstanding news for the people of the Greater Dallas/Fort Worth area," said Ms. Stone.

The complete elimination of the accumulated deficit was considered a critical priority, as the company prepares for its move to the Dallas Center for the Performing Arts in 2009.

"For nearly fifty years, The Dallas Opera has provided the grandest entertainment in Texas. We're now ready for fifty more," said Ms. Stone.

ABOUT THE DALLAS OPERA

2005-2006 Season Information:

The Dallas Opera celebrates its 49th anniversary season with 20 performances of five productions in the Music Hall at Fair Park. Evening performances begin at 7:30 p.m. and matinees begin at 2 p.m. EASY-TO-READ ENGLISH TRANSLATIONS ARE PROJECTED ABOVE THE STAGE AT EVERY PERFORMANCE.

Schedule:

Cavalleria rusticana/Pagliacci by Pietro Mascagni and Ruggiero
Leoncavallo
November 11, 13(m), 16 and 19, 2005 (New Dallas Opera production)

The Tales of Hoffmann by Jacques Offenbach
December 2, 4(m), 7 & 10, 2005 (New production)

Ariadne auf Naxos by Richard Strauss
January 6, 8(m), 11 & 14, 2006 (New production)

Rodelinda by G. F. Handel
January 27, 29(m), February 1 & 4, 2006 (New Production)

The Magic Flute by W.A. Mozart
February 17, 19, 22 & 25, 2006 (New production from San Diego Opera)

Ticket Information:

Subscriptions to The Dallas Opera's 2005-06 Season are currently on sale. Subscription ticket prices range from $80 to $970. Single tickets become available October 1, priced at $19 to $265. For more information or to order tickets, contact The Dallas Opera Ticket Services Office at (214) 443-1000 or visit TDO's web site at dallasopera.org.

The Dallas Opera is supported, in part, by funds from: City of Dallas, Office of Cultural Affairs; TACA; Texas Commission on the Arts; and the National Endowment for the Arts, a federal agency. The Dallas Opera would like to thank its 2004-2005 production underwriters, including: Nokia, the Dallas Leadership Banking Partnership, and Kimberly-Clark Corporation. Advertising support from The Dallas Morning News.

Source: The Dallas Opera

CONTACT: Suzanne Calvin of The Dallas Opera, +1-214-443-1014, or
suzannec@dallasopera.org

Web site: http://www.dallasopera.org/

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