The Guthrie Theater reported Monday that it ended its last fiscal year with a small surplus, at a time when cultural institutions across the nation have been whipsawed by a pandemic that threatens their existence.
Minnesota's flagship theater achieved its positive results after making drastic cuts nearly two years ago that pared the size of the staff by 79%, from 252 to 55. The theater achieved the surplus despite not having a single in-person performance for the entire fiscal year.
The bottom line also was helped by COVID-19 relief funds, including $7.075 million from the Shuttered Venues Operators Grant program and $3.165 million from the Paycheck Protection Program. Combined, the money replaced about a third of the income the theater had anticipated earning during that period. The bulk of the Paycheck Protection Program money was from forgiven loan from the previous fiscal cycle, which led the theater to show a $2.7 million deficit.
For the fiscal year that runs Sept. 1, 2020, through Aug. 31, 2021, the Guthrie reported a huge financial outpouring from patrons and supporters. The theater had more than 11,000 donors — 33% more than the previous season and the most in a decade — who donated $7.8 million, or 51% of the Guthrie's $15.3 million income. The theater had expenses of $12.3 million.
In non-COVID times, donors usually contribute 38% to 40% of the budget, said managing director James Haskins.
He attributed the Guthrie's positive overall results to COVID relief funds, cost-cutting measures and Minnesotans' support for the arts.
"Those are the three primary components that got us to where we are today," Haskins said.
The state also provided the Guthrie with $1.2 million in unemployment compensation credits. The theater also had $884,000 in employee retention credits and its endowment grew to $64.8 million.
