MARKET HOUSE THEATRE ENDS SECOND CONSECUTIVE FISCAL YEAR IN BLACK

“For the second year in a row, thanks to great productions by community performers and increased contributions from local and regional donors, who supported the mission of the theatre, we ended our fiscal year in the black,” said MHT Executive Director Michael Cochran.  “A great deal of the success goes to the Board of Directors, who worked diligently to build relationships with individuals and businesses.  In addition the MHT Staff worked incredibly hard to produce  over fifteen productions  and events and keep expenses in check.”  Cochran also credits the support of the City of Paducah, The Kentucky Arts Council and its largest corporate sponsors: Paducah Bank for underwriting its Main Season, The law firm of Kitchen and Thornton-Green for underwriting the Youth Season and Ray Black and Son General Contractors and Ashland Corporation (formerly International Specialty Products) for underwriting the Educational programming over the past two years along with at least a dozen other corporate sponsors.

Market House Theatre served over 23,000 youth last year with over 11,000 of those students receiving classes taught at their schools by MHT Education Director April Cochran.  April Cochran was awarded the National Distinguished Merit Award recently by the American Association of Community Theatres for her work.    The educational programming provided by MHT teaches communications skills and develops personal confidence while incorporating subjects like social studies, history, and science so that the students are using theatre to teach their fellow classmates core content.  In addition to MHT’s youth programming over 12,000 adults participated in MHT Main Season programming at the historic theatre located in downtown Paducah.

“Market House Theatre continues to see our programming demand increase for educational classes and opportunities for more local performers to act in productions produced by the theatre.  We strive for a professional quality production and make sure that we continue to cast as many new people as possible” said Executive Director Michael Cochran.  The theatre has a long history of awards and recognition on a state and national level.  “The biggest challenge,” said Cochran,” is maintenance on the 4 historic buildings listed on the National Historic Register that the theatre owns along with work on the main Market House building which is leased from the City of Paducah.  We’ve had significant roofing, masonry, and HVAC costs both last year and this year.  In addition we have some theatre equipment that is between 25-40 years old and we must continually upgrade and replace that equipment.

The theatre’s unrestricted operations and contributed revenue for the fiscal year that ended June 30, 2011 was $672,186.  The theatre’s operational expenses were $638,087 leaving a surplus of just over $34,000.   MHT has set aside that surplus to reinvest in the facilities and equipment and is in the second phase of paying for an analysis of MHT programming and facility needs to meet continued growth and demand.  “We are using that surplus to invest in a strong, stable, and sustainable financial foundation for the future,” said Cochran.  Market House Theatre will celebrate its 50^th Anniversary in 2013.

2011 Year end Audit Financial Statements