Celebrating its 90th year in downtown Durham, the Carolina Theatre has launched a 90-day fundraising initiative to finish raising the remainder of $600,000 in matching funds approved by the City of Durham earlier this year.
Carolina Theatre of Durham, Inc., the nonprofit that runs the city-owned venue, recently ended the silent phase of the Matching Campaign approved by the City Council in June. The nonprofit has already already raised more than 70 percent of the funds required to meet the city matching funds.
“It’s clear that the community is rallying around the Carolina Theatre,” said Steve Bishop, the theater’s director of major gifts. “We’ve raised about $430,000 in private donations.”
The influx of cash, combined with a new business model, has already cut the theater’s deficit from just over $1.3 million at the end of December to about $450,000. So far, the campaign has focused on major gifts from private foundations, corporations, board members and longtime donors.
The nonprofit is now unveiling a crowdfunding component on its website, carolinatheatre.org, to attract a wider donor base and raise the final $170,000 needed to complete the campaign by Thanksgiving.
“This is an invitation to the community to help,” said Treat Harvey, director of development. “No gift is too small. We’re grateful for everyone’s support.”