Research Article
Financial Implications of Engagement Between Higher Education Institutions and Professional Nonprofit Theatres in New England
Abstract
The purpose of this study is to test whether nonprofit theatres in New England that are engaged with higher education institutions (HEIs) have increased revenues over those that are not. Besides revenue, the study also tests two additional measures of financial well-being: expense-to-revenue ratios, and employee-cost-to-total-expenses ratios. The results showed that theatres that had discernable HEI engagement have greater total revenue and lower expense-to-revenue ratios over theatres that did not. Notably, regardless of the size of the theatre, those with discernible HEI engagement operated, on average, with a surplus. Conversely, theatres with no discernible HEI engagement operated, on average, with a deficit. The study found no difference in employee-cost-to-total-expense ratios. Resource Dependence Theory is used to explore why engagement with HEI’s may improve the financial status of nonprofit theatres. The implication of these results through a resource dependency lens is that HEI engagement creates paths to increase total revenue and reduce expense-to-revenue ratios of nonprofit theatres.
Keywords
2024 (1)
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Keywords
- aesthetics
- higher education
- cultural diplomacy
- career, professional role
- audience studies
- visitor motivations
- Business
- corona pandemic
- digitalization, digitization
- diversity
- empirical aesthetics
- entrepreneurship
- development, transformation
- ethics
- Evaluation
- festival
- film
- social change
- ideology
- staging
- communication
- Concert
- creative industries
- creativity
- culture
- arts organizations, cultural organizations
- cultural participation
- cultural change
- fincancing the arts
- cultural history
- cultural economy
- cultural organizations
- art education
- cultural policy
- cultural production
- cultural sociology
- audience development, art education
- arts administration, arts management
- cultural industry
- cultural sciences
- art
- arts research
- arts marketing
- curating
- artists
- leadership
- management
- marketing
- market
- media
- methods development
- museum
- music
- non-visitor studies
- opera
- orchestra
- organization
- audience
- audience development
- law
- government
- social cohesion
- social cohesion
- non-visitor socio-demographics
- community arts
- state
- urbanism
- dance
- Participatory Justice
- theater
- Theatre Governance
- theory development
- tourism
- survey
- civil society, third sector