Texas Ballet Theatre receives $500,000 from Meadows Foundation

by PegNews wire

Texas Ballet Theater, the premier resident professional ballet company of North Texas, is proud to announce that The Meadows Foundation has committed $500,000 in support of the Ballet’s operations in response to the Ballet’s new business plan.

“We are delighted to partner with the Meadows Foundation. Their leadership in North Texas and throughout the state has been important to the cultural, educational and social development of this region, and the Ballet is grateful for their support at this important time,” said Suzanne Charriere, board chair for Texas Ballet Theater. “Their tremendous commitment, along with those of hundreds of other generous donors, allows us to meet our fall fundraising goal of $2 million and also allows us to enter 2009 on sound financial footing.”

The Meadows commitment was made in response to the Ballet’s new business plan which outlines the steps the Ballet is taking to address financial strains in the current season and to prepare for a new performance venue in 2009.

Among the Ballet’s plans are the reorganization of its board, the refinement of its financial projections, revised bylaws, and stronger professional management of staff and operations. In support of the Ballet’s plan, The Meadows Foundation made its commitment in the form of a loan, which will be forgiven when the Ballet achieves the goals of the plan.

Source: Texas Ballet Theater