Budget & Funding Sources


Preservation of Egyptian Theatre, Inc. (P.E.T.), a 501(c)(3) non-profit organization, owns and operates the historic Egyptian Theatre.

Our revenue is generated by earned sources: ticket sales to events, rental of the theatre to groups for events, concession & merchandise sales, box office fees, and contributed sources: donations, memberships, sponsorships and grants.

COVID-19 – March 13, 2020 due to the global pandemic caused by the virus COVID-19, the State of Illinois implemented restrictions that included the closure of theatres.  The Theatre was closed for many months, allowed to re-open in October 2020 with extremely limited capacity and then shut down again in November 2020.  In late January 2021 the Theatre was allowed to re-open once again with extremely limited capacity.  The remainder of 2021 was up and down with restrictions leading into January/February  2022 that had dismal attendance due to the surge of the Omicron variant.

The financial impact from COVID-19 was devastating and will likely take years to recover.  For the period of March 2020 – March 2022:
>The financial loss is estimated at $1.5 million.
>185 events were canceled or rescheduled.
>Projected attendance loss is 55,580
>Projected performers & crew impacted is 3,750+

Fiscal Year 2021 (July 1, 2020 – June 30, 2021)

Total Revenue & Support = $693,259
Total Expenses = $747,562
Net Gain/Loss = ($54,303)

FY 2019 included the start of a major capital project and capital campaign. Income and expenses for this project span FY 19 through FY 22.

FY 2020 Audited Financials
FY 2019 Audited Financials
FY 2018 Audited Financials

FY 2020 Tax Form 990
FY 2019 Tax Form 990
FY 2018 Tax Form 990
FY 2017 Tax Form 990

Capital Support

The City of DeKalb has generously supported the Egyptian Theatre for many years with funding towards capital projects.  Eligible capital projects must be a repair or improvement to the building and can not include any operating expenses for staff or utilities.  Combined for FY 2019 and FY 2020 the City of DeKalb awarded $2.5 million for the lobby expansion and building HVAC project.  That funding comes from the City of DeKalb downtown Tax Increment Financing (TIF) district.

Endowment

The Egyptian Theatre has an endowment that was established after the restoration in 1983.  The endowment is currently managed by the DeKalb County Community Foundation.  The balance as of 9/1/22 was $100,569.99.  An annual disbursement of roughly 4% is used for the ongoing operations and maintenance of the historic Egyptian Theatre.

Reserves

The Egyptian Theatre has a reserve account that is invested with the DeKalb County Community Foundation through an agency fund.  The balance as of 9/1/22 was $370,599.25.  We hope to maintain 6 months of reserves which is currently $275,000.

Questions

For more information contact our Executive Director.

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