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Essentials in
Board
Board Minutes January 2003 - Exhibit C
State of the AIC report
Updated: 2/17/2003 2:37:00 PM
The AIC Show of Champions / Annual Convention $58,626
We sold 5,167 tickets to our annual show last year…. That’s about 23% more than for Nashville, where we did two performances in our own theater and filled 88% of the 4,850 available seats. (Kansas City topped them both.) But our revenue was only 14% higher than 2001; even though 68% more patrons were able to buy the lowest priced tickets, we sold 12% fewer tickets at the top price.
As it was, we paid a 2002 seat tax of $10,334 to the Society. And we contributed another $35,000 to the production budget of the entire convention to help support the tremendous audio and other technical improvements that were made. Another $2500 went specifically to help support the webcast. Add our prescribed donation to our Endowment Fund ($8,292), our little Christmas “thank you” to the staff in Kenosha, and a “memorial” contribution to our Endowment Fund of $1000 to honor a decade of service by our outgoing treasurer, Al Mau, and the AIC “gave away” almost 30% of what we grossed on last year’s show.
Money aside, we thought the show itself was a pretty nice artistic contribution to the convention and the Society. (Not to mention taking the holiday-rate labor expenses off your hands by doing our show on the 4th…)
This year we have offered $25,000 for further improvements. With our seat tax and 10% Endowment Fund contributions, we have budgeted to give away nearly 86% of our budgeted net from the show in Montreal.
… Between the Collegiate Quartet competitors, our spouses, and other VIPs, we comp’d another 291 seats.
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