As the year draws to a close the Tower Theatre Foundation takes this opportunity to share with you our Community Report for the 2005/2006 fiscal year.

The Community Report provides a comprehensive overview of the Foundation's operations, partnerships, sponsor relations, developing membership programs, theatre operations, and theatre rentals. All of the financial information presented in the Community Report is based on an independent audit performed by Holland & Brooks, LLP. Furthermore, the presentation of the financial information contained in the report has been reviewed and approved by the independent audit firm prior to its release to the Foundation members, sponsors, community members and the press.

Theatre Performance
We're delighted to report that audiences, sponsors and membership of the Tower Theatre continue to grow, attracted in part by the wide variety of programs offered at the Tower. Between July 1, 2005 and June 30, 2006, the Theatre held 227 event-days attended by 43,366 guests. The Theatre achieved occupancy of 65 percent with a growth in attendance of 13,601 guests, or a 46 percent increase over the prior fiscal year. Built on a foundation of board and committee members, management and operating staff and more than 90 volunteers, the Tower Theatre Foundation is proud to partner with 16 corporate sponsors, 30 in-kind sponsors and a growing Theatre membership of over 500 individuals, corporations and families.

Community Partnerships
It is through the community's generous support of the Foundation that we are able to continue in our commitment of supporting other Central Oregon non-profits. We have proactively encouraged community partnerships with organizations such as the Bend Experimental Art Theatre (B.E.A.T.), Children's Musical Theatre Group, City of Bend and Redmond Fire Departments, Obsidian Opera, Boys & Girls Club of Central Oregon, Central Oregon's Veteran's Outreach (COVO), NeighborImpact (formerly COCAAN), Big Brothers/Big Sisters, Central Oregon Battering and Rape Alliance (COBRA), Tsunami Relief, Cascade Wind Ensemble, Central Oregon Community College (COCC), the University of Oregon Physical Sciences Department and the High Desert Art League. The organizations presented here are only a partial listing of those the Foundation has, and continues to partner with at the Tower.

Operating and Financial Performance
It is common for regional performing arts centers to generate the majority of income from event ticket sales, venue rentals and other services. For the Tower Foundation, this means it must raise the remaining amount from contributed sources such as memberships, sponsorships, special gifts and grants. Clearly, great strides have been made as the Foundation continues to show improvement in its year-to-year financial results by expanding its funding base. While the Theatre continues to expand its services to the community, it also will seek to increase its funding base in these and other areas.

The successful completion of an audit for the 2005-2006 fiscal year shows that the Tower Theatre Foundation, in its second full year of operation, reported a reduction in its fund balance with an operating loss of $58,818 (before depreciation). Although this reflects a significant reduction in the Foundation's year-to-year net operating loss from the previous year, it underscores the economic reality that the Foundation needs to continue to seek community support to underpin its operations.

To the credit of the team that led the Tower Theatre's Encore Capital Campaign, an operating reserve was established to help facilitate the transition of the Tower Theatre from a historic renovation project to an operating company. Our improved financial, business and operating performance reflects the focused, collaborative efforts of management, staff, volunteers and our business and community partners in achieving effective engagements with the diversity of audiences and users served by the Tower Theatre always in mind. Our journey to operating stability is not yet complete and we invite you to help us reach this goal through volunteerism, sponsorship, donor support and membership.

Our Thanks
On behalf of the Foundation, we would like to record our thanks for the Tower Theatre's fine management and operations team as well as the Theatre's army of volunteers, for their sustained commitment to the enterprise and for their contribution to the achievement of strong performance, audience and visitor service.

The Foundation extends its warm acknowledgement to our presenting, commercial and non-profit partners and to the myriad artists and their technical support teams for their collaboration in our ongoing mission to offer inspiring experiences to the audiences we all serve.

We offer our warm appreciation and thanks to the board of directors, advisors and committee members for the quality of their contribution throughout the year and for their continued support and guidance.

Finally, we want to thank the community for the ongoing commitment and support of its Theatre.

Read the full version of the Community Report: 2006 Community Report