The Overture Center Foundation Board of Directors reflected on the facility’s ups and downs within the past four years and celebrated its recent success as a private, non-profit organization at the board’s annual meeting.
The outgoing chair, Deirdre Garton, passed down her title to Tom Basting, the new chair of the Board of Directors. Garton will remain a part of the Executive Committee.
Basting said much at the Overture Center has been accomplished as a result of Garton’s leadership and efforts.
“Her board colleagues, past and present, are grateful for what she’s done for the Overture’s successful beginning and promising future,” Basting said.
Garton said the Overture Center started as “hideous” in fall of 2008 with $20 million in debt and has now, in 2012, finally started to convince the community it is a successful organization. She said this year alone, the Overture Center raised $2.4 million and that 80 percent of its city employees decided to stay with the company.
She said in 2008, the institution decided to engage the community and bring together a group of people from the community that tried to revive the institution. She added the board was able to show the community the pivotal role the institution plays in the economic life of the region.
According to Garton, the Overture Center’s budget begins every fiscal year from zero and builds up as necessary. She said even though the institution struggled with finances in the beginning, Madison’s City Council supported the Overture Center and provided funding.
Ald. Mike Verveer, District 4, said the council currently provides $1.85 million to the Overture Center as a grant, which is a continuation of the financial support the city has provided since it was built. He added he believes the grant is part of the city’s long tradition of providing support to the arts.
Overture Center President Ted DeDee said the institution finished its fiscal year with favorable results. He said the season sales are already above projections and the institution is about to experience its best Broadway season yet.
According to Verveer, the closing of the Orpheum Theater has already given Overture more business, because many of the shows that were scheduled to take place at the Orpheum have been relocated to the Overture Center. He said a court hearing will take place next week that relates to the foreclosure of the Orpheum from the Monona State Bank.
Basting said even though the Overture Center is a tremendous asset to the business community and the area, it faces challenges from the government at all levels.
“It is our job to make sure the entire community understands the arts are not a frill,” Basting said. “This wonderful place is where magic happens.”
Producing Artistic Director of the Children’s Theater of Madison Roseann Sheridan reported from the Resident Advisory Committee and said there has been a new sense of openness to new ideas at the Overture Center and there are new capabilities for the ticketing information systems.
Baker Tilly Partner Julie Schwingel said the Overture Center also faces good news from an audit standpoint. She said it received full cooperation from management and staff and the audit statement was very clean.
