San Diego Opera’s crowdfunding campaign has strong start

San Diego Opera patrons gather outside Civic Theatre before a performance of "Don Quixote" earlier this month. Crowdsourced fundraising is part of the recently downsized opera board's strategy for saving the financially troubled company. (David Ng / Los Angeles Times)

San Diego Opera patrons gather outside Civic Theatre before a performance of “Don Quixote” earlier this month. Crowdsourced fundraising is part of the recently downsized opera board’s strategy for saving the financially troubled company. (David Ng / Los Angeles Times)

Mike Boehm | LA Times | April 29, 2014 – San Diego Opera announced Tuesday that its bid to make crowdfunding a key to its survival had brought in $328,475 since last Friday, nearly a third of the online and telephone campaign’s goal of raising $1 million by May 19.
Opera spokesman Edward Wilensky said that 544 households had pledged that sum as of mid-afternoon Tuesday, for an average gift of $604.
That leaves $671,575 to be raised in three weeks. Opera officials have said the money is crucial to mounting a 2015 season that would differ substantially from the past approach, which called for four large-scale operas each season and an overall company budget of more than $15 million.
Donors will get refunds if the campaign fails to reach its goal by the May 19 deadline, or if San Diego Opera fails to announce a 2015 season. Those giving to the crowdfunding effort are risking $8 each — the handling fee they’ll be charged if the rescue effort falls short and refunds have to be made.
The opera company said it is “actively analyzing sustainable business models and various plans for future seasons” as it tries to revamp itself on the fly.
Meeting Monday, the opera’s board elected a new set of officers. Carol Lazier, who pledged $1 million toward the company’s rescue early this month, was confirmed as president after having served briefly as acting president. Her predecessor, Karen Cohn, was one of 29 board members who’ve resigned since the company’s turmoil began March 19 over whether to shut down after a 49-year run or make changes and try to continue presenting opera in San Diego with a different, scaled down approach.
The 54-member board that existed when an initial vote was taken to disband San Diego Opera is now down to 25 members who aim to keep it going. The resignations represent a financial loss of about $750,000 a year, since board members pay annual dues of $25,000 each.
The opera board became divided over whether to surrender without a struggle in the face of a long-term trend of dwindling ticket sales and generally diminishing donations. Cohn and Ian Campbell, the company’s general director and artistic director since the early 1980s, argued that closing in the face of what they thought were unalterable realities would allow San Diego Opera to end on a “dignified” and financially responsible note, allowing all its creditors to be paid.
Campbell and his ex-wife, Ann-Spira Campbell, who was also a top opera company administrator, were placed on paid leave last week.
The 33 to 1 vote in March to shut down came as a surprise; while San Diego Opera had been open about its financial decline, there had been no suggestion that it was in imminent danger of folding.
An outcry ensued in the community, and Lazier emerged as a leader of a dissident faction on the board that wanted to adapt to the changing conditions that many opera companies face.

read more:,0,4964395.story#ixzz30M6eAVK7,0,4964395.story#ixzz30M6FHFqg


Forbes6th Annual Global Crowdfunding Convention Sponsored By ForbesBooksForbesIn 2012, crowdfunding raised $1.7 billion in capital – but last year, total capital raised using crowdfunding reached over $60 billion. This represents a seismic shift in the way that startups, non-profits, [...]

Forbes5 Crowdfunded Side Projects That Became Million-dollar CompaniesForbesCrowdfunding has also given many side projects a fighting chance, when no one else would. Many startups that originally launched on crowdfunding platforms have gone on to build $100 million businesses from the [...]

Will Crowdfunding Become a Big Deal in India?Knowledge@WhartonCrowdfunding — the practice of raising small amounts of capital from a large number of people to fund new ventures — is finally gaining traction in India. The question is: Will it deliver like it has in other markets? India [...]

EJ InsightHK needs crowdfunding-friendly regulatory regimeEJ InsightIn recent years, crowdfunding via the internet has taken the world financial market by storm, providing a platform for any startup with a business idea to pitch in front of a global audience of investors. And in the f [...]

MyAJC (blog)Crowdfunding site urges Georgians to run for Congress | Political ...MyAJC (blog)WASHINGTON -- New billboards popping up in greater Atlanta and Northwest Georgia this week will have a different sort of message than the typical plugs for ...and more » [...]

Now City Governments Are Crowdfunding, Too - CityLabCityLabAround the country, local governments are soliciting donations for everything from dog parks to public defenders. Is this a practical response to budget cuts or a ...and more » [...]

Some Dreamers turn to crowdfunding to pay for DACA renewalMarketplace.orgWhile the ultimate fate of DACA recipients remains unclear, thousands of young people are now rushing to renew their applications before the deadline in early October. However, the cost is $495, which may be reac [...]

Chronicle TelegramCrowdfunding account set up for business damaged in Wellington ...Chronicle TelegramMultiple fire departments battle a blaze early Sunday morning at the old birdseed factory on Depot Street in Wellington. PHOTO COURTESY MICHAEL ...and more » [...]

Model DHamtramck performance space and bar turns to crowdfunding for key renovationsModel DPlanet Ant and MEDC have launched a crowdfunding campaign to raise money to help finish and repair Planet Ant Hall. Should the crowdfunding campaign successfully raise $35,000 by Nov. 1, the MED [...]

The VergeCrowdfunding companies look to Alibaba for their next big ideaThe VergeA company called Frank wants its backers to feel good about buying into its crowdfunding campaign for a new Android phone. Its Indiegogo page is filled with videos emphasizing that the young team at Frank [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Reg Crowdfunding

CCA and the World Bank are pleased to announce the publication of Crowdfunding's Potential in the Caribbean…

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |