Virginia Repertory Theatre, Central Virginia’s largest professional theater company, is in the midst of a financial crisis that threatens to close its doors. A newly appointed leadership team discovered a significant financial shortfall, uncovering a legacy deficit of $1.7 million, along with a projected $1.6 million shortfall for the coming year. This financial strain, compounded by the loss of key donors, has resulted in a $500,000 funding gap.
Virginia Rep has announced that it requires an immediate infusion of $600,000 to avoid closure. Without this funding, the current production of Stephen King’s Misery could be the theater’s final show. The company’s artistic director, Rick Hammerly, noted that it wasn’t until new managing director Klaus Schuller joined six weeks ago that the full extent of the debt became clear. Hammerly emphasized the importance of transparency, expressing that the leadership would rather be open about the situation than regret not asking for help sooner.
The potential closure would have a profound impact on Richmond’s theater community. Virginia Rep stages around a dozen shows annually at three locations, including children’s productions that tour Virginia and beyond. The theater also employs dozens of local professionals, whose jobs would be at risk.
Additionally, the company’s main location, the November Theatre on West Broad Street, serves as the venue for the Richmond Theatre Community Circle Awards, which recognize local theater excellence.
Virginia Rep was founded in 2012 through the merger of Barksdale Theatre and Theatre IV, two key organizations in Richmond’s theater history. In recent years, the theater has undergone several leadership changes, culminating in the August appointment of Schuller as managing director and Hammerly as the sole artistic director.
Like many theaters across the country, Virginia Rep has struggled to recover from the effects of the COVID-19 pandemic. Economic challenges and shifting audience habits have hurt theaters nationwide, and Virginia Rep has seen a significant drop in attendance compared to pre-pandemic levels.
If the theater is forced to close, the consequences would extend beyond just the staff, who could face serious financial hardships. The broader Richmond community would lose a cultural institution that has long been a cornerstone of the local arts scene.
In response, Virginia Rep has launched a fundraising effort under the banner “Save the Rep,” with the hope that donations from the community will help the theater survive. The company’s future now depends on the generosity of supporters and the Richmond arts community.
Consider donating to help #SaveTheRep at savetherep.org
A LETTER TO OUR COMMUNITY…
Virginia Repertory Theatre, central Virginia’s largest professional theatre, is on the verge of closing its doors for good. Without immediate intervention from donors, local and state government, and our patrons, the current production of Stephen King’s Misery will be our last.
At a time when arts organizations all across the country are struggling to survive, a closure at Virginia Rep would be a huge blow to the thousands of patrons – adults, children, families, and summer campers whom we serve, not to mention the hundreds of actors, artists, technicians, and administrators who make Virginia Rep their home. And the impact doesn’t stop there. For many downtown restaurants, shops, and other businesses, theatre patrons can mean the difference between success and failure.
Virginia Rep recently brought on a new leadership team. Their vision is to reinvigorate Virginia Rep and create the conditions for it to truly be a theatre of, by, and for all the people of Richmond. Our new Managing Director, Klaus Schuller, is a specialist in budgeting, strategy, and organizational development who gained his skills as an executive with large commercial theatre and variety organizations. Our Artistic Director (and co-leader) Rick Hammerly is a Helen Hayes Award winning director, actor, filmmaker, and arts administrator. The current season is a real step forward for the organization, built on a mix of recent Broadway favorites (Waitress), literary classics (Misery, Charlie and the Chocolate Factory, Grace for President), and forward-looking collaborations (Fat Ham).
Unfortunately, Virginia Rep is facing a deficit of $1.7 million, and a further deficit of $1.6 million projected for the year to come. Virginia Rep is not alone – theatres all across the country are struggling with the lingering, devastating effects of COVID, including not yet reaching pre-COVID audience levels, increased costs and donor fatigue. Further, unlike many organizations of our size, we lack an endowment fund to get us through the financial ups and downs common to not-for-profit organizations.
If we cannot make up that shortfall – and quickly – we will not have the time and opportunity to make the changes to our structure and programming necessary to survive. To be clear, we need an immediate infusion of more than $600,000 or we will be forced to close our doors in the coming weeks.
Virginia Repertory Theatre is very much worth saving. Richmond deserves a world-class regional theatre, and based on the quality of its other leading arts institutions, Richmond clearly has the wherewithal to support one. We are immensely grateful to the donors, foundations, and companies that have, and continue to support us through these difficult times.
The vision of our new leadership team that will guide the organization once we get through this crisis is clear: We will continue to do better for our community, our staff, and our mission. We will be clear, honest, and transparent about our finances, our progress, and our plans to serve the community. We will work hard to rebuild and enhance our relationships with donors, foundations, and community groups – and especially with historically underserved and marginalized communities. We will be focused on our future, and be committed to the principles of equity, accessibility, diversity, and inclusion. And we will be a trusted, reliable partner to the people and organizations on whom we rely.
To accomplish all of this, we will build seasons and programs that are sustainable, responsible, and forward-looking. This means right-sizing the organization to be laser-focused on our core mission of producing great theatre, telling stories that entertain, enlighten, and speak to our diverse audiences. The budgets for future seasons will be realistic, responsible, and actionable. Our tickets, programs, and core fundraising will be sufficient to our financial needs. Then, once we are stable, we will build reserves and an endowment to help us get past future bumps in the road.
The leadership and board of directors are committed to these ideas, and to producing the finest theatre in Central Virginia. At this moment we lack the resources to continue, but hope that the people of Richmond and the foundations, governments, and companies which serve them, will all step forward, lend a hand, and keep the curtain raised.
Consider donating to help #SaveTheRep at savetherep.org
