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Annual Report 2006–2007

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Annual Report 2006–2007 Roundabout AnnUAL REPOrt 2006–2007 ROUNDABOUTTHEATRECOMPANY BOARD OF DIRECTORS CHAIRMAN Thomas E. Tuft Steven F. Goldstone Laura Pels Managing Director Silver Spring Group, LLC President Goldman Sachs & Co. The Laura Pels Foundation Perry B. Granoff VICE CHAIRMAN Psychotherapist Jill F. Rachesky Mary C. Solomon Maureen A. Hayes Neila B. Radin VICE CHAIRMAN Senior Vice President Christian C. Yegen Chuck Imhof JPMorgan Chase & Co. President Managing Director – Yegen Companies Greater NY Division Charles Randolph-Wright American Airlines PRESIDENT Lois Robbins Todd Haimes Gene R. Korf Artistic Director Attorney Steven A. Sanders Roundabout Theatre Company Korf & Rosenblatt Partner Sanders, Ortoli, Vaughn-Flam & TREASURER Carole S. Krumland Rosenstadt LLP Bob Donnalley Cathy Lasry Steven Schroko SECRETARY Resident Director Lawrence Kaplen Mark J. Manoff Merrill Lynch & Co. Vice Chairman, Northeastern Leslie E. Bains Area Managing Partner Chip Seelig Vice Chairman Ernst & Young LLP Dune Capital Management The Modern Bank, N.A. David E. Massengill Donna J. Slade James J. Burke Jr. Partner Founder Simpson, Thacher & Bartlett Barbara Schaps Thomas Stonington Partners, Inc. Senior Vice President and John P. McGarry, Jr. Chief Financial Officer Samuel R. Chapin Chief Executive Officer HBO Sports Vice Chairman McGarry Bowen Merrill Lynch & Co. Akiko Mikumo Todd Haimes Mary Cirillo-Goldberg Partner Artistic Director Weil, Gotshal, & Manges LLP Mike de Graffenried Harold Wolpert Carol Mitchell Managing Director Douglas Durst Co-President Kenneth F. Murphy Julia C. Levy The Durst Organization Executive Director Cynthia Nixon Niko Elmaleh Scott Ellis Associate Artistic Director LEADERSHIP COUNCIL CHAIRMAN Christine LaSala Natasha Richardson Yolanda R. Turocy President and CEO Managing Director WTC Captive Insurance Ron Rifkin Neuberger Berman LLC Company, Inc. Patricia A. Stockhausen Rozlyn L. Anderson Frank Langella President Emergency Management Training Polly Bergen Marsha Mason Rebecca Sullivan Lynn Davis Helen Mirren Project Director Managing Director The Arnold P. Gold Foundation U.S. Trust, Bank of America Brian Murray Private Wealth Management Barry C. Waldorf Liam Neeson Retired, Managing Director Christopher Formant U.S. Trust Company of New York Executive Vice President Cathryn Palmieri BearingPoint, Inc. Managing Director Tony Walton Korn/Ferry International Boyd Gaines Patricia S. Wolpert Christopher Plummer Wolpert Consulting Eric Hanson Cherry Jones Cover photo: Audra McDonald in 110 in the Shade Letter from the Chairman Each season, the success of Roundabout can be measured in many ways: the accolades from subscribers for a play or musical they have discovered on one of our stages; the satisfaction of an artist being given the chance to experiment creatively; the enthusiasm of a student discovering theatre for the first time through our education programs. By these measures, our 41st Season was a rousing success. We owe a big debt of gratitude to those who made a wonderful season of theatre possible: our loyal subscribers, our generous donors, our incredible staff, our supremely talented artists and, of course, my fellow Board members. As New York’s largest not-for-profit theatre, we produce eight productions annually on three stages both on and Off-Broadway, more than any other theatre in the city. This wealth and depth of activity earned us a record number of subscribers this season–over 44,000—along with praise from audiences and critics alike. Roundabout is privileged to work with the best and brightest of the theatre world whose passion and talent ensures that each performance on our stage is a reflection of the highest level of artistry. Yet even with these successes, we faced new challenges this season: single ticket sales were below projections and production costs continued to soar. Thus, we realized an operating deficit for the first time in more than a decade. Always an innovator, Roundabout has already begun finding solutions to these challenges. We are rethinking how we can extend our tremendous success with subscribers to attract more single ticket buyers with new e-marketing initiatives and are unveiling a revamped, user-friendly website that will create more opportunities for our subscribers and audiences to engage with the work and the artists on our stages. Over our 41-year history, we have grown from a small theatre company to a major cultural institution. We are represented not only by the productions in our three theatrical homes, but also by the important behind-the-scenes programs that serve an ever-increasing community of artists and audiences. This includes our work in public schools, new play commissions, the Associate Artists program, and national tours. Our next steps are very important ones to our continued success: the completion of our capital improvements on our theatres, and the creation of an endowment for Roundabout. Just as our permanent theatres have allowed us to focus less on real estate and more on the work that happens on our stages, a strong endowment will allow Roundabout to take greater artistic risks while ensuring our continued financial stability. As Roundabout plans for our future, we are thrilled that you have chosen to join us. Thanks to our many donors, individual gifts increased this year to a record high. Also, our capital campaign is making major strides in meeting an ambitious financial goal that will help us prosper for years to come. By the measure of your ongoing support and generosity, Roundabout will continue to succeed in surprising and delighting audiences for seasons to come. Thomas E. Tuft Chairman of the Board 1 2 Philip Bosco in Heartbreak House Letter from the Artistic Director One of the greatest pleasures of my job as Artistic Director is creating a dynamic environment that artists at all points of their careers can call home. Whether it’s a young actor tackling his or her first Broadway role or a seasoned director taking on one of the most difficult plays in the dramatic canon, I hope they find that Roundabout is a place where they return throughout their careers to experiment and flourish as a member of our theatrical family. Our entire staff works hard to make sure our artists feel safe and welcome so they can stretch their abilities by taking on the challenging work we produce. In turn, this allows us to present our valued subscribers and audiences with the industry’s finest artists redefining great theatrical works. This is, and always will be, why Roundabout exists. In the 2006-2007 Season, we continued a proud tradition of theatrical excellence that audiences have come to expect, serving an eclectic mix of plays and musicals. We featured first-class revivals of two masterpieces (Heartbreak House, Suddenly Last Summer), a contemporary classic (Prelude to a Kiss), and a forgotten gem (Old Acquaintance). In addition, we produced the first Broadway revivals of two little- known musicals (The Apple Tree, 110 in the Shade) and the New York premieres of two new plays (Howard Katz, Beyond Glory). These productions featured some of the most extraordinary actors, writers, directors and designers currently working in the theatre. Our season drew 44,000 subscribers, showing that New York area audiences clearly have a hunger for the type of programming we provide and want to be a part of Roundabout. In order to continue meeting the needs of our subscribers and to reach new audiences, we must continue to grow and evolve. Yet our central purpose of reviving plays and musicals will remain unchanged. We have been an integral part of the New York theatre scene for 41 years and plan to be a permanent part of the landscape for many more years to come. Of course, each season we have invaluable help. Our Board of Directors provides incredible support under the leadership of Tom Tuft, our new Chairman of the Board, and it is truly a joy to work with this extraordinary group of people. Our generous donors continue to make our work possible. One donor in particular has continued to help us in new and unexpected ways: The Harold and Mimi Steinberg Charitable Trust. They helped launch our new play initiative back in 1995 and have been incredible supporters and friends ever since. We are so proud that our Off-Broadway theatre center bears their name. This year, they created the Steinberg Challenge Grant, a $250,000 matching grant, which many of you participated in to galvanize our fundraising efforts. I feel so lucky to have the Steinberg family as friends and supporters of Roundabout. In the following pages, you will read about all the work undertaken last season. Our mainstage productions will hopefully be familiar to you. The other work you may be less familiar with but is no less important to the lifeblood of our theatre and our community: a full slate of developmental readings and workshops to nurture plays and musicals for future seasons; our annual gala, in which artists give so freely of their time and talent to raise funds for Roundabout; and our city-wide education programs that represent our investment in the artists and audiences of tomorrow. I hope you enjoy reading about this work that your own investment in the future of Roundabout has made possible. And, of course, I hope to see you at one of our theatres very soon! Todd Haimes Artistic Director 3 THE YEAR IN REVIEW or 41 years, Roundabout Theatre Company programming and the core of all that has pursued its core mission of teaming Roundabout does. Fgreat theatrical works with the industry’s finest artists and creating world-class productions For instance, the first production of the season both on and off-Broadway. In our 2005-2006 was Heartbreak House, a revival of one of George season, as Roundabout celebrated its 40th Bernard Shaw’s most complex and difficult anniversary, the company took the opportunity plays. In it, Shaw introduces a wealthy group to look back at its accomplishments and take of Brits who spend a weekend at a country stock of its incredible growth.
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