Much of the American nonprofit theatre is struggling financially. The 105 major theatres that participated in the TCG Theatre Facts survey in each of the last five years exhibit unhealthy conditions. Thirty-five percent of this group incurred an operating loss in the year 2006. Given these theatres represent some of the most prestigious theatres in the United States, this is a surprising and unsatisfactory result, although it actually represents an improvement over the average of the four prior years of forty-seven percent. Aggregate audience attendance for these theatres has fallen since 2002, due to a loss of subscribers. Fixed assets and related costs have increased substantially since 2002, while the average working capital per theatre in 2006 was a dangerous negative $746,000.
Arthur Nacht, the principal of Nacht Theatre Consulting, LLC, combines financial management experience and skills with a strong belief in the importance of live dramatic art. With an MBA in finance from Harvard, a career of over thirty years in corporate financial management, an MFA in theatre management from Yale, and a thirty-year love affair with theatre, Arthur offers a range of financial management services to nonprofit theatres.