Cultural and Community Enrichment January 23, 2015...Objectives • Raise funds to renovate the Bedford Playhouse and turn it into a state-of-the-art cinema and community/cultural

A New Bedford Playhouse

Cultural and Community Enrichment

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January 23, 2015

Contents

© 2015 Friends of Bedford Playhouse Confidential 0

Background Vision Mission Guiding Approach Sample Programming Objectives Rationale The Plan Projected Costs: Renovation Projected Year-One P& L Projected Membership Revenue Like Theater Revenue Comparison Conclusion Appendix

Background •  The Bedford Playhouse: an historic theater

that’s been an integral part of the town’s character for nearly seven decades

•  This past summer, current Playhouse lessee Bow Tie Cinemas advised owner Alchemy Properties they would not renew their lease

•  Due to the changing nature of commercial film distribution (we believe), no other cinema chains have come forward, creating a unique opportunity for a community-based theater


Background


•  If we do not raise the necessary funds to save the Playhouse by March, it will be converted to retail space.

•  And a piece of our history will be gone, along with a golden opportunity to create something even better.

Vision •  Re-imagine the Playhouse as a 501(c)(3) not-for-profit,

member-supported arts house

•  Program independent, foreign, documentary, family and classic films

•  Renovate theater to accommodate member/celebrity events which are Integral to our approach and required to realize vision


Mission

To create a vibrant cultural destination dedicated to screening films for adults and

families, as well as a community hub for local gatherings, special events, and educational

programs relating to film and the arts.


Guiding Approach •  A small but excellent theater for a small but excellent town

•  Though often showing the same type of films, we won’t compete directly with Jacob Burns, but offer a convenient alternative- and a different experience

•  Our closest model will be The Avon Theatre Film Center in Stamford, due to:

–  Similar audience demographics (Bedford, Greenwich)

–  Number of screens and theater size

–  Feeling of a restored historic cinema


Objectives

•  Raise funds to renovate the Bedford Playhouse and turn it into a state-of-the-art cinema and community/cultural hub

•  Create a showcase, large screen theater; a smaller, more intimate second theater; and a lobby café serving high-end coffee, wine, beer and snacks

•  Provide consistently high-quality film and concession offerings - elevate the experience of going to the Playhouse

•  Turn the cinema into a cultural destination offering rich artistic film offerings and ancillary programming such as post-screening dialogues with film makers and industry leaders


Rationale •  A new, vibrant Playhouse will:

–  Revitalize a charming but sleepy town: build visitors

–  Create a community hub in the Village

–  Enrich the cultural offerings available to residents of Bedford and surrounding towns, via programming and events

–  Offer film education programs to area schools


Rationale •  Given the importance of celebrity events to attract membership,

we are well-positioned to succeed:

–  The high concentration of celebrities in the area is a huge asset

–  Many celebrities and working film industry veterans already on-board: JC Chandor, Chevy Chase, Lasse Hallstrom, Lena Olin, Joe Berlinger, John Farr and others


Rationale •  Bedford and surrounding towns have a high density of the

affluent, educated audience to support this theater on an ongoing basis - if the will and desire are there

•  These same residents would also attend an annual gala, and rent the theatre for private events, adding revenue beyond membership, ticket sales and concessions


The Plan: Key Audience Segments •  Across segments, an educated, affluent demographic:

–  Empty-nesters – 40+, annual income $200K+, opting not to move to the city

–  Seniors – time on their hands, hungry for quality film entertainment beyond multiplex offerings

–  Families with children – family programming component critical for weekends

–  Teens – film studies popular on high school and college campuses – a group interested in film


The Plan: Key Audience Segments •  Higher than average education/income levels

•  Avid movie-goers: 46% of Westchester residents go see movies vs. just 21% for other forms of entertainment


Sources: US Census Bureau- 2010 Census; The Local Arts Index: Americans for the Arts

*Bedford consists of hamlets of Bedford, Bedford Hills, Katonah, Pound Ridge **Lewisboro consists of the hamlets of Cross River, Goldens Bridge, South Salem, Vista, Waccabuc *** New Castle consists of the hamlets of Chappaqua and Millwood

People United States Bedford * Greenwich Lewisboro** New Castle ***

Population estimates (July 2013) 316,128,839 17,700 62,396 12,655 17,928

Persons 65 years and over 13% 12.50% 16.50% 11.60% 11.40%

Persons per household 2.61 2.8 2.76 2.83 2.99

Bachelors degree or higher-age 25+ 28.50% 55.20% 65.80% 71.70% 77.80%

Per capita income in past 12 months (2012) $28,051 $68,429 $90,629 $70,977 $92,226

The Plan: Programming Strategy •  Large theater (292 seats): bulk of highly curated first-run

programming including independent and art house cinema

•  Small theater (88 seats): customized programming: –  Classics –  Member-sponsored series –  Silent films with live accompaniment –  Independent documentaries with related panel

discussions

•  Also, flexibility to schedule small musical performances, one-act plays, readings, talks on weeknights


Sample Programming Large Theater Monday 6PM - Cinemascope Series: Special Screening of “Lawrence Of Arabia”- with restorer Robert Harris as host

Tuesday 8PM - Celebrity Screening: “A Most Violent Year”, with director JC Chandor introducing/post Q&A

Wednesday-Friday - “A Most Violent Year”- 4, 6:30, 9PM

Saturday 11AM - “Children’s Matinee: Fantasia”

Saturday-Sunday - “A Most Violent Year”- 1:30, 4, 6:30, 9

Small Theater

Monday 8PM - Documentary Night: “Citizen Four”, post-film panel discussion on the acts of Edward Snowden

Tuesday 8PM - “Classics Night: The Night Of The Hunter”- background commentary by John Farr/post-film Q&A

Wednesday-Friday - “Leviathan” – 6PM, 9PM

Saturday - “Leviathan”- 2, 5, 7PM

Sunday 11 AM - “Member Series: The Best Courtroom Dramas- The Verdict”

Sunday - “Leviathan”- 2, 5, 7PM


The Plan: Development •  John Farr, co-founder of the Avon Theatre, formed

Friends of Bedford Playhouse

•  Wendy Ross, former Executive Director of Friends of John Jay Homestead, hired to run the effort

•  Initial survey indicated strong support within our town (90% of respondents in favor)

•  Identified fiscal sponsor: ArtsWestchester

•  501(c)(3) application will be submitted once half the funds are raised


•  To save the theater, we must raise $2.5MM by March:

–  $2MM for renovation, the rest for tech/equipment upgrades- (note: numbers are projections and could rise slightly as process goes forward)

•  Our calculation: only a combination of a renovated theater and superior programming and concessions – in short, the whole experience- will sustain a not-for-profit theater in Bedford

The Plan: Development


The Plan: Development •  Key to success: “top of the pyramid”: large donors, usually

between 1-10 individuals giving $100,000+

–  To that end, we’re promoting naming opportunities at the $1,000,000 level (main theater) and $500,000 level (small theater, lobby)

–  Also, prominent plaque recognition for $25,000+ givers, and recognition for those giving at $5,000+

•  Not forgetting smaller donors: using local events, the website, social media and a poster campaign to solicit pledges


The Plan: Development •  We’ve mobilized a high level team of volunteers to help

•  Generated 130+ high potential prospects and growing

•  Developed outreach materials:

–  Video

–  Website

–  Social Media - FB page, Twitter

–  Selling materials - pledge cards, posters





•  In a two week period, we have raised close to $200,000 in pledges

•  Key selling push: January and February

– Personal meetings with key prospects

–  Intensive February speaking schedule for John Farr at libraries, town halls, private homes

–  Solicitation of local businesses and organizations to support effort

–  Continue strong, ongoing local PR effort


The Plan: Press Coverage


The Plan: Architectural Drawings •  The plan fulfills our vision in an efficient yet elegant way:

– First, un-twin the theater

– Lose 200 seats, use space to move large screen forward

– Build small theater in area created behind the large theater

– Lose one row of balcony seats to enlarge lobby/cafe area

– Install elevator; upgrade fixtures, bathrooms


The Plan: Architectural Drawings •  Upper level


The Plan: Architectural Drawings •  Lower level


Projected Costs: Renovation Demolition: $123,035 Plus an allowance for abatement work: $81,200 It should be expected that there currently exists lead paint and asbestos. Structural : $105,000 Architectural / Finishes / Storefront : $519,700 Elevator: $100,000 Plumbing / Sprinkler: $141,120 HVAC: $151,130 Electrical: $217,805 Subtotal: $1,438,990 General Conditions (10%): $143,910 OH&P (15%): $215,849 Total w/ GC & OH&P: $1,798,749 Contingency (design / construction) of 10%: $179,875 Grand Total: $1,978,624


Projected Costs: Equipment Upgrades


Large Theater* $205,000 (292 seats)

Small Theater* $159,000 (88 seats)

Seats $140,000

Total $504,000

*Includes digital projector, screens and sound equipment

Projected Year-One P&L


Total Revenue $995,000

Total Expense $1,061,581

Memberships $200,000 Ticket Sales $500,000 Donations/Grants $100,000 Retail/Concessions $ 75,000 Venue Rental $ 20,000 Annual Fundraiser $100,000

$995,000

Staff/Fees $459,250 Building/Lease $201,581 Film Rentals $275,000 Marketing $ 38,350 Office/Insurance $ 70,900 Other $ 17,400

$1,061,581

Profit/(Loss) ($66,581)

The Plan: Membership Levels


Category Membership Amount $

Number of Memberships

Total Income $

Philanthropist $25,000 Plus 1 $25,000

Benefactor $10,000 Plus 2 $20,000

Producer $5,000 Plus 5 $25,000

Director $1,000 Plus 20 $20,000

Patron $500 Plus 50 $25,000

Sponsor $250 100 $25,000

Dual $125 200 $25,000

Individual $75 300 $22,000

Student/Senior $60 225 $13,000

TOTAL 903 $200,000

Like Theater Revenue Comparison

Revenue* Jacob Burns $5.500 MM

Avon $1.260 MM

Bedford Playhouse (Budget) $0.995 MM

Pelham Picture House $0.550 MM

*2012 recorded figures


Conclusion •  Benefits of a re-imagined Bedford Playhouse:

–  Cultural enrichment

–  Community hub

–  Increased traffic for village businesses

–  Revitalized village

–  Improved property values


Thank you Please contact us to make a pledge or for more information:

John Farr at [email protected] or 914.234.2875

Wendy Ross at [email protected] or 914.282.6456


Appendix



Appendix A Like Theater Summary– 990 Comparisons

Appendix B: Staff Support Detail


Executive Staff

Non-Executive Staff

GM/Exec Director $ 90,000 Programmer $ 60,000 Assistant $ 35,000

$185,000 Benefits & Taxes $120,250

Total Exec Staff $305,250

Concessions $ 30,000 Tickets/Box Office $ 30,000 Projectionist $ 35,000 Freelance/Temps $ 25,000 Total Non-Exec $120,000

Total All Staff $425,250


Appendix C P&L Detail – Revenue Detail Estimate


Appendix D P&L Detail – Expense Detail Estimate

Bedford Playhouse

P&L January -‐ December 2016

Budget

Est Est Est Est Est Est Est Est Est Est Est Est

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Revenue

Membership $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $300,000

Ticket Sales $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $33,333 $400,000

DonaGons/Grants $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $100,000

Retail/Concessions $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $50,000

Venue Rental Income $5,000 $5,000 $5,000 $5,000 $20,000

Annual Fundraiser $100,000 $100,000

Total Revenue $70,833 $70,833 $175,833 $70,833 $70,833 $75,833 $70,833 $70,833 $75,833 $70,833 $70,833 $75,833 $970,000

Est Est Est Est Est Est Est Est Est Est Est Est

Expenses Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Staffing Exec Employee CompensaGon $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $15,417 $185,000

Benefits $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $8,479 $101,750

Payroll Taxes $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $1,542 $18,500

Non ExecuGve Comp $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $12,083 $145,000

Fees Legal Fees $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $5,000

AccounGng Expense $2,500 $2,500 $5,000

IT $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000

Building Cleaning $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $30,000

UQliQes Phones $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $3,600

Other UGliGes $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000

Lease Lease Expense $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $11,500 $138,000

Film Rental Program/Film Rental $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $18,333 $220,000

MarkeQng AdverGsing $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $6,000

Mailings $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000

Other Expenses Concession Inventory $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $10,000

Insurance $15,000 $5,000 $20,000

Other Expenses T&E $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $2,400

Office Expenses Postage $250 $250 $250 $250 $250 $200 $200 $200 $200 $200 $250 $200 $2,700 Website/Website

Maintenance $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $2,850 $34,200

Bank Fees $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $600

Office Rent $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $4,800

Supplies $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,200

Office Equipment $2,500 $2,500 $5,000

Automated TickeGng $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,200

Uniforms $150 $150 $300

Total Expenses $94,854 $81,354 $79,004 $87,354 $78,854 $78,804 $79,804 $82,454 $78,804 $78,804 $82,354 $79,804 $982,250

Documents

Cultural and Community Enrichment January 23, 2015...Objectives • Raise funds to renovate the Bedford Playhouse and turn it into a state-of-the-art cinema and community/cultural