A Much Loved Holiday Tradition Continues In San Diego: How the Need for Arts Education and Solid Non-Profit Financial Management is Carrying the San Diego Civic Youth Ballet Through the Pandemic
The coronavirus pandemic has presented major challenges for non-profit organizations in San Diego this holiday season. Like most non-profits, the San Diego Civic Youth Ballet generates a bulk of its operating expenses from in-person events.
However, due to current COVID-19 regulations, these critical fundraising events are not possible. But through our ongoing partnership, we have given the ballet financial strength to weather this economic storm. As a result, they’ll be able to host their annual performance of The Nutcracker for all to view this holiday season!
Non-Profit Financial Management: Why December is so Important
Why is December such an important month for nonprofits? Well, 31% of annual giving occurs in December. And 12% of all giving happens in the last 3 days of the year. However, this year there has been a lack of traditional fundraising events in place, which could prove disastrous for some organizations.
As a member of the ballet’s Board of Directors, I worked with Molly Terbovich-Ridenhour to secure over half a million dollars in PPP and Economic Injury Disaster loans for the ballet. These funds will enable us to continue to provide high-quality, affordable ballet education while they develop new strategies to restore income to pre-pandemic levels.
Scenario planning and forecasting are incredibly important steps in non-profit financial management during uncertain economic times. During the annual budgeting process for the ballet, we created best, likely, and worst-case financial scenarios. This ensures the ballet is prepared for various levels of income loss.
A lot has changed since the San Diego Civic Youth Ballet opened its doors in Balboa Park at the end of World War II. But during turbulent times, the strength, beauty, and grace of ballet, as well as the vital importance of arts education, has never wavered.
“I began dancing with the San Diego Civic Youth Ballet in 1964 when I was six years old and loved it immediately,” said Sara Goldman, SDCYB alum, “I was a tall, lanky kid who was teased unmercifully, however, when I started dancing, I felt free. It brings me great joy to know there are many generations to come who will discover their own love of art through the ballet just like I did.”
Identifying New Revenue Streams
One of the ways I am working with the ballet’s staff and board to keep revenue flowing is through upholding the ballet’s holiday tradition, a performance of The Nutcracker. SDCYB’s dancers have been rehearsing for weeks via Zoom in preparation for this year’s virtual ‘Nutcracker Project 2020!’
While not open to a public audience, the 30-minute performance of The Nutcracker will feature the following:
- The iconic Tchaikovsky score
- Performed by two separate casts
- Professionally filmed and available for viewing online from the safety of your home!
Tickets to the Nutcracker Project 2020 are on sale now for $5. The performance will be available for viewing between December 19th to January 1st.
For the first time in the San Diego Civic Youth Ballet’s 75-year history, their version of this classic ballet and cherished story will be available for all to enjoy this Christmas!
Why the Focus on Non-Profit Financial Management
I often find silver linings in difficult financial situations. And as someone who has been in ballet class since the age of 4, it feels good to give back to something I’m passionate about.
I am currently open to other Board of Directors positions for both non-profit and for-profit organizations. Here are a few ways I can help:
- increase your profit
- improve your cash flow
- help you make better financial decisions
If you’re interested in any of Momentum’s CFO’s services get in touch and let’s make a difference together.