When arts schools or pre-professional programs hope to expand their offerings, they tend to have to look internally for funding opportunities. For instance, some organizations raise their tuition, while others might consider cancelling underperforming programs. Fundraisers are held, and both parents and students are expected to contribute. But much of the time, these efforts aren't enough to prompt the creation of new divisions or classes.
However, that is not the case for New York's American Ballet Theatre (ABT). The Jacqueline Kennedy Onassis School at the ABT recently received $2 million from an anonymous donor, the largest gift ever given to the organization. This money will be put toward the expansion of a number of training programs, as well as the establishment of student scholarships.
"This donation is an enormous testament to the school's growth and quality and will enable us to engage the most promising and advanced students with crucial scholarships to make their continued training possible," ABT CEO Rachel Moore stated.
This is not the only financial windfall the school will enjoy. Administrators at ABT revealed that $1 million will be used to match gifts made by other donors on a 2:1 basis in the hopes that philanthropists will be enticed to help fund other projects.
The ABT recently held an event to spur more donations, according to The Los Angeles Times. The "Stars Under the Stars: An Evening in Los Angeles," gala featured a cocktail reception, dinner and custom performance for a large audience. The news source said that many dancers were in the crowd, including judges from "So You Think You Can Dance," "Dancing With the Stars" professional Derek Hough and many others, all of whom gathered at a private residence in Beverly Hills.
The newspaper hailed the event as a success, reporting that the ABT brought in almost $250,000 in donations and ticket sales.
Foundations and organizations that provide annual funding might benefit from nonprofit accounting software, which can help board members audit funds and make sure the correct amounts are being distributed to various programs each year.