TORONTO – The Stratford Competition says regardless of efforts to rescue its funds from the affect of COVID-19 the group nonetheless has a $20-million gap in its funds.
Carol Stephenson, chairwoman of the board on the competition, has requested the Home of Commons standing committee on finance for $eight million to assist get the humanities group again on its ft.
She says the remainder of the shortfall could be raised by way of donations from the non-public sector.
Stephenson outlined measures the competition — an enormous financial driver for the Stratford, Ont., space — has taken in latest weeks to get better from a steeper $40-million deficit projected a few month in the past.
She says cuts to overhead bills, drawing from the competition’s endowment, a $6-million line of credit score and a 50 per cent wage reduce for its government director and inventive director have helped.
Stratford was to roll out 15 productions in 4 theatres, together with Colm Feore’s “Richard III” because the inaugural present on the new $70-million Tom Patterson Theatre, earlier than the closure of its theatres in March.
This report by The Canadian Press was first printed Could 21, 2020.
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