• Case Study: Cornerstone Theater Company (2008)

    By: Belina Mizrahi, MFA '10

    In early 2007, Cornerstone Theater Company’s Managing Director Shay Wafer aimed to create a sustainable economic model to stabilize the company. The company had never relied on ticket income as a significant source of revenue, using a Pay-What-You-Can model from the very beginning. It could not start charging fixed prices to its core community audiences without putting up barriers to accessibility and moving away from its mission and values. One model that had proved successful by June 2008 was collaboration with Gilead Sciences, Inc., a global pharmaceutical company. The Gilead Project, as it was known internally, combined Cornerstone’s collaborative community methodology for developing productions with Gilead’s desire to educate HIV/AIDS populations about their medication options, especially among the African-American community. This was a major help to Cornerstone fiscally. Combined with extensive efforts on the part of the Director of Advancement to increase board involvement and individual giving, as well as cuts in staff and some less mission-based programming, Cornerstone was able to balance its budget in 2008 for the first time since 2005. Questions remained about the future of the organization: Would corporate funding continue to increase? How would that affect the direction of Cornerstone and its ability to fulfill its mission? 

    Cornerstone Theater Company, 2008 [CASE STUDY]
    Filed in: Case Studies, Marketing & Development, Organizational Direction
    Keywords: , , , , ,
    Added on: January 1, 2008