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Shaw Festival announces operating surplus at Annual General Meeting

Niagara-on-the-Lake, ON (February 6, 2015) — Earlier today, patrons, board members, staff and the public gathered at the Festival Theatre to celebrate the artistic and financial successes of the Shaw Festival’s 2014 season.

During the meeting, Board Chair Andrew M. Pringle announced a healthy operating surplus of $815,000. In addition to stating the 2014 Festival season surplus, Mr. Pringle provided those gathered with information on the significant events of the past year.

This included the creation of three Board committees, two of which are engaged in identifying the next Artistic and Executive Directors. Mr. Pringle revealed that Executive Director Elaine Calder’s successor is expected to be hired by September 2015. The next Artistic Director will be announced late in the 2015 season, in time to work with Jackie Maxwell on 2017 planning during the 2016 season.

The third Board committee is responsible for the Festival’s future facility needs as The Shaw continues to invest in the future of world-class theatre in Canada. This includes long-term strategy for the recently purchased Anchorage property.

“The Shaw is at an important juncture and I look forward to discovering what lies ahead, while working to ensure that the future includes many successes and celebrations,” said Mr. Pringle during his remarks.

Treasurer Kristian Knibutat took the attendees through the audited financial statements, pointing out that this was the third year in a row that the Festival has posted a surplus. As a result, The Shaw is showing an accumulated operating surplus, rather than a deficit, for the first time in over a decade. He explained two one-time adjustments due to the property purchase and an adjustment to amortization. He advised those present that the surplus from operations alone was $425,000 on a budget of $28.3 million.

“It’s always a pleasure to report positive financial results and commend a great management team at the Annual Meeting as we celebrate another splendid artistic season at The Shaw,” said Elaine Calder. “I intend to leave in September confident that my successor will be able to join the exciting long-term planning that is now underway and build on a strong and sustainable platform.”

The 2014 season featured 10 acclaimed productions including Cabaret and the audience favourite When We Are Married, which was extended due to popular demand. In addition to the success at home, the Festival presented Toronto audiences with the breadth of The Shaw’s offerings with The Mountaintop in collaboration with Obsidian Theatre and Arcadia with Mirvish Productions, both of which were highly-praised. The Shaw Festival, together with Theatre Calgary, brought Albertan audiences The Philadelphia Story from the Festival’s 2014 playbill, which is currently receiving rave reviews.

“I am very proud of our 2014 season, which was defined by a wonderful combination of skilled and inventive direction, and a series of glorious performances from our acting ensemble,” said Jackie Maxwell, Artistic Director. “I am also thrilled that our work continued throughout the winter delighting audiences outside Niagara-on-the-Lake in Toronto and now in Calgary.”

The Shaw Festival’s 2015 season begins April 8 with the musical adventure Peter and the Starcatcher and continues until November 1. The playbill also features Sweet Charity, Pygmalion, Light Up the Sky, The Lady from the Sea, Top Girls, The Twelve-Pound Look, You Never Can Tell, The Divine: A Play for Sarah Bernhardt, The Intelligent Homosexual’s Guide to Capitalism and Socialism with a Key to the Scriptures and The Next Whisky Bar: A Kurt Weill Cabaret. Tickets for the 2015 season and additional information can be found at www.shawfest.com or 1-800-511-SHAW (7429).

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About the Shaw Festival

The Shaw Festival is a theatre company inspired by the work of Bernard Shaw. The Festival produces plays from and about his era and contemporary plays that share Shaw’s provocative exploration of society and celebration of humanity.

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Media Contacts:

Laura Hughes
Senior Communications Manager
905-468-2153 / 1-800-657-1106 ext. 2222
lhughes@shawfest.com
Jenniffer Anand
Public Relations Coordinator
905-468-2153 / 1-800-657-1106 ext.2224
janand@shawfest.com
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