Curtains for NYSTI?

The Albany Business Review reported that the end of December could mark curtains for The New York State Theatre Institute. That’s when the production company runs out of money and will be forced to close if it does not raise enough money to continue operations.

But David Bunce, the theater group’s interim producing artistic director, holds out hope that both the theatrical shows and the theatre’s educational and school-based programs will go on. Bunce took over in May, replacing Patricia Snyder, who resigned amid allegations that she and her family misspent hundreds of thousands of NYSTI dollars.

“We do so much good that I have to believe we’re going to make it,” Bunce said.

He will be joined on Wednesday for a press conference at the theater, located at 37 First St. in Troy, in the Schacht Fine Arts Center on the campus of Sage Colleges, by a group of teachers and community leaders to announce a fundraising campaign to carry the institute through March 31.

In June, Gov. David Paterson slashed the nonprofit’s funding in half for the 2010-11 fiscal year. The state’s 2011-12 budget eliminates NYSTI’s funding altogether. Bunce says it’s possible to save the institute. NYSTI’s annual budget is $3.5 million; the state covered $3 million and the theater’s productions and education programs covered the remaining $500,000.

The State University of New York provided a short reprieve to help NYSTI get through this year, but that money will be exhausted in December. It is enough to cover production costs for the institute’s two remaining shows, “The Miracle Worker” and “A Christmas Carol,” and 20 performances of “B-Bomb,” a show about bullying written for school-age children.

Since the budget cuts, staff was reduced to 15 from 30, with many of the exiting staffers taking advantage of the state’s early retirement incentive.

“We need to make a huge fundraising push,” Bunce said.

He has developed a business plan that calls for fundraising campaigns, slightly increased costs for educational programs and accelerated grant-writing efforts.

Read more: Curtains for NYSTI? - The Business Review (Albany)