Executive Director's Report

April 2017
 
Finances
  • Cashflow: Cantus did not apply for the bridge loan from Nonprofits Assistance Fund because a board member who asked to remain anonymous generously offered a loan on more favorable terms (prime interest rate, no origination fee). Because we may be able to make it through the tight period without a loan, I have not yet cashed the check – but I am grateful to have this to fall back on if necessary, as we approach the tightest stretch.
    • April 16-30: $8,057
    • May 1-15: ($991)
    • May 16-30: $5,562
    • June 1-15: $18,751
    • June 16-30: $27,495
These numbers do not include the board member’s $10,000 loan.
  • NAF: I am completing an application to extend the terms of Cantus’ loan with the Nonprofits Assistance Fund (our primary loan, separate from the proposed bridge loan). The materials, including a new corporate borrowing resolution (included for review in the board packet), are due in early May. 
  • Budgeting for FY18: I have begun work on next year’s budget. The finance committee reviewed a very preliminary draft and provided excellent feedback, and I hope to have a more polished version to share next month.
 
Development
  • Athwin Foundation: The trustees are reviewing our proposal for a special grant of $100,000. The foundation has requested additional financial information, and Chuck and I will visit the foundation on Monday.
  • Minnesota State Arts Board: Cantus is applying for an Access grant to support a collaboration next year with StreetSong-MN that builds on the success of 2016’s “Would You Harbor Me?” program. Joey is leading the project, in collaboration with Carly, Zac, and myself. Cantus also had two required reviews for general operating support – one to monitor our current (FY17) general-operating grant, and another to discuss our pending (FY18) general-operating grant. Both reviews went smoothly.
 
HR and Admin
  • Bill Pederson was contracted as the substitute tenor for America Will Be!, and Nick Karageorgiou was the substitute for the Pennsylvania-Connecticut tour.
 
Programming
  • America Will Be! prompted a wide range of emphatic feedback from audience and community members, and I am grateful to hear what did and didn’t resonate. MPR recorded America Will Be! for later broadcast.
  • Sweet Honey in the Rock has not signed the contract for the planned collaboration at Orchestra Hall in September 2017. I have followed up weekly, and their management responded last week to say they believe Sweet Honey will perform but the group is “notoriously slow” with contracts. We have shared a deadline of May 8, which would allow for inclusion in our 2017-18 marketing materials. The ensemble is currently considering alternate options in case Sweet Honey bows out. Although we had to pay a $1,200 deposit to Orchestra Hall to reserve the September date, we have until June 20 to cancel the venue without incurring additional charges.