FrontRow » Blog Archive » Brierleys Gift $1 million to Dallas Theater Center’s Acting Company:
When Mike Daisey was in town, he criticized the current state of the American theater. One of his complaints: how come the money spent on fancy buildings for theater didn’t go to endow resident acting companies? Well the Dallas Theater Center has a really fancy building, but thanks to a gift from Diane and Hal Brierley, they now have an extra $1 million for their acting company. The gift from the longtime Dallas arts patrons means the company will now be called the Diane and Hal Brierley Resident Acting Company.
I heard from Kevin Moriarty, the AD at Dallas Theater Center, that this was coming down the pike—I am delighted.
At the same time, let's make no mistake—in these economic times with careful stewardship, I've been told that a 5% return on an endowment is a rough guideline for back of the envelope calculations. At $1 million, that gift should then generate $50,000 a year for the actors—enough to pay one person's salary, or not quite two at the low, low rates actors are accustomed to in the American theater.
It is good news, and the right kind of news, but it is a starting point—not the end—for this conversation.