Village Theater Company May 2012

May 2012 Village Theater Company Today’s Goals •  Provide informa=on on the Village Theater Project •  Share funding strategy •  Gain support May 2012 Village Theater Company Overview Remember the small town movie theater? hGp://www.findingdulcinea.com May 2012 Village Theater Company Enriching the Community •  Provides entertainment opportuni=es for young and old alike •  New op=on for evening entertainment -­‐ close to home •  Poten=al for addi=onal revenue to shops & restaurants with increased pedestrian traffic May 2012 •  Strengthens the community iden=ty, aGrac=ng investments, businesses and increases property values •  A community with more features will aGract more people to live, work and play •  Safe recrea=onal alterna=ve for younger genera=ons Village Theater Company The Village Theater Company •  A newly formed 501(c)3 non-­‐profit organiza=on •  Goal of the organiza=on is to bring a family movie theater back to Sewickley –  Enhance the cultural life of the community –  Become the cornerstone of Sewickley’s business district resurgence •  Dona=ons will be used to support the construc=on of the facility, enabling the theater to operate debt free and ensuring that history will not repeat itself; the doors will forever remain open. May 2012 Village Theater Company The Theater •  A two-­‐screen theater specifically for film –  One screen for first-­‐run independent and foreign films –  Second screen for “calendar” programming (second run and older films for periods as short as one day) –  PiGsburgh Filmmakers advising •  Educa=onal programming, live streaming, film fes=vals •  Flexible mee=ng/community space May 2012 Village Theater Company Examples of Charitable Programs •  Educa=on •  Issue-­‐based screenings (for example, Youth Connect’s “Race to Nowhere” and “Haze”) •  Regional film fes=vals •  Acerschool ma=nees •  Venue for local non-­‐profits (lectures, fundraising, courses) •  Work-­‐training program May 2012 Village Theater Company The Financials •  $3,000,000 to cover acquisi=on and construc=on costs plus 6 months of opera=ng cash on hand •  Pro forma developed with help of PiGsburgh Filmmakers and established similar theaters –  Funding goal allows the theater to operate mortgage/lease-­‐free –  Assumes conserva=ve 20% average aGendance •  Two screens enable more revenue poten=al, flexible programming and more availability for community involvement. •  Non-­‐profit structure of a community theater allows opera=on without burden of property taxes –  Village Theater Company has filed (for) a 501c3 tax status. May 2012 Village Theater Company Can The Concept Work? The non-­‐profit film theater, some=mes called “micro cinema”, is thriving across the country. Just a few examples include: •  Avalon Theater – Washington, D.C. •  Red River Theatres – Concord, NH •  The Grand Cinema – Tacoma, WA •  Ragtag Cinema – Columbia, MO •  Bryn Mawr Film Ins=tute – Bryn Mawr, PA •  Denis Theatre – Mt. Lebanon, PA •  PiGsburgh Filmmakers – PiGsburgh, PA We have countless successful, well-­‐established models on which to base our plans! May 2012 Village Theater Company The Local Market • 
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16,000 people in 15143 >130,000 within 5-­‐mile radius >250,000 within 10-­‐mile radius >4000 RMU students >1000 in Sewickley YMCA camps >100 in Sewickley YMCA childcare May 2012 Village Theater Company Proposed Opera=ons PiGsburgh Filmmakers • Movie Selec=on • Scheduling • Theater opera=ons management May 2012 •  Mission and goals •  Theater design •  Educa=onal programming Village Theater Company • Fundraising • Site iden=fica=on • Construc=on • Fiscal oversight Village Theater Company Educa=onal Partnerships •  Organiza=ons are engaged in discussion on educa=onal programming –  Robert Morris University –  Quaker Valley School District –  Sewickley Academy •  As plans are established, the team will reach out to other local schools May 2012 Village Theater Company Proposed site for Village Theater; funds raised will be used solely for the theater part of the development May 2012 Village Theater Company Board of Directors Brian Duggan Pa+y Jones Susan Kaminski Jan Pereira Sean Sebas6an Alex Simakas Kirsten Recker May 2012 Village Theater Company Advisory Board •  Peter Friday •  Charlie Humphrey May 2012 Village Theater Company Fundraising Goal $3,000,000 May 2012 Village Theater Company Es=mated Costs: Construc=on and Start-­‐Up All numbers used to develop the $3,000,000 fundraising goal are es=mates, based upon industry standards 10,000 sq c theater, including construc=on, equipment, and furnishings (based upon an es=mate of $200/sq c cost, as advised by John Harper, Private Theater Developer) Land acquisi=on $2,000,000 $500,000 Six months opera=ng expenses $150,000 Con=ngency $350,000 May 2012 Village Theater Company Campaign CommiGee The current focus is leader gics as well as establishment of a community development plan Leader Gi)s Brian Duggan Peter Friday Kirsten Recker Sean Sebas=an May 2012 Community Gi)s PaGy Jones Susan Kaminski Jan Pereira Village Theater Company Grants Peter Friday Susan Kaminski What's next? Leadership Gics In Place Preliminary Plan in Place DEC MAY Silent Campaign May 2012 50% of Funding Pledged Launch Community Campaign SEPT Secure site, Obtain project pricing Village Theater Company 100% of Funding Pledged JAN Begin Construc=on Theater opens Q3 2013 June 30: Front Row We are in a pledge drive right now un=l June 30th. Anyone pledging at any level by this date will become a Front Row donor. In addi=on to recogni=on, Front Row members will be invited to the first ever movie shown at the Village Theater May 2012 Village Theater Company How You Can Help • 
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Provide feedback Pledge Pass the good word Host your own informa=onal event May 2012 Village Theater Company Thank you! May 2012 Village Theater Company FAQs Q. What types of films will be shown? A. The programming philosophy would be to serve the immediate community while also advancing the understanding and apprecia=on of world-­‐class cinema. With the advantage of two screens, one screen would be devoted to first run American independent and foreign films. The second screen would be more flexible, serving younger audiences with a “calendar house” approach. Calendar house programming, popular in the six=es and seven=es, programs second run and older films for periods as short as one day. Typically, these films are booked at least a month in advance. Q. Why two screens? A. Two screens enable more revenue poten=al, flexible programming and more availability for community involvement. May 2012 Village Theater Company FAQs Q. Where will the theater be located? A. The Ascot Motor site is now under agreement with a local developer. Village Theater has arranged to acquire space on this site at a pro-­‐rated cost from the developer, who will not profit from this sale. Q. Could there be other uses for the theater? A. The second theater could be used as a gathering or mee=ng space, or it could possibly support educa=onal programming, including film classes and video presenta=ons. May 2012 Village Theater Company FAQs Q. Will this theater support live performance? A.  This will be a theater specifically for film. VTC has explored the technical, opera=onal, and cost aspects of having the ability to support live performance. Unfortunately, the requirements for suppor=ng live theater would result in a diminished quality on the film side (for example, movie theater acous=cs would be nega=vely affected). Others in the industry confirm that the two offerings (film and live performance) don’t co-­‐exist well in one facility. Also, VTC has determined that our community has (and will have, with the updated middle school) a number of venues for live performance already available. Our goal is to add, not duplicate, capability. May 2012 Village Theater Company FAQs Q. How much will the project cost? A. We are budge=ng and expect to raise $3,000,000. Acquisi=on and construc=on costs will be $200/sf and we have allowed for 6 months of opera=ng cash on hand, as well as con=ngency funds. Q. Why a not-­‐for-­‐profit structure? A. This is a community theater, structured with a non-­‐profit status, to ensure longevity (sustainability). With the burden of a mortgage and property taxes liced from this business model we will ensure long-­‐term success for the opera=on of the movie theater. Q. Are contribu6ons tax deduc6ble? A. Yes. Village Theater Company has filed (for) a 501c3 tax status. May 2012 Village Theater Company FAQs Q. Do you an6cipate ongoing fundraising needs aQer the theater is completed? A. We are strongly convinced that if we can fund the construc=on of the theater so that it is able to run mortgage/lease-­‐free, the theater will be viable financially at 20% aGendance. In developing the pro forma, we did an extensive evalua=on of a large number of non-­‐profit movie theaters in the US, as well as received guidance from PiGsburgh Filmmakers, to come up with a realis=c, conserva=ve plan for opera=onal success. Q. How are you going to run the theater? A. PiGsburgh Filmmakers, a 40 year old non-­‐profit arts organiza=on, has been enlisted to advise, and poten=ally support long-­‐term, the opera=ons of a community theater. May 2012 Village Theater Company FAQs Q. Are you open to working with other groups? A.  Absolutely. We an=cipate partnering with local schools and universi=es on classes, programming, and poten=al =cket arrangements. PiGsburgh Filmmakers’ long rela=onship with University of PiGsburgh can help serve as a model. Q. What about parking? A.  Acer hours, the village typically has a substan=al amount of open parking. However, once we iden=fy the site, we plan to work with local organiza=ons who have parking lots to nego=ate access to the space. Q. Where can I learn more? A.  We are in the process of puvng up a website www.villagetheatercompany.com; stay tuned! In the mean=me, you can e-­‐mail us at info@villagetheatercompany.com if you have any ques=ons or comments. May 2012 Village Theater Company