THIS SCREEN IS BACK IN THE BLACK
Glendale’s historic Alex Theatre is continuing its financial rebound.
When Elissa Glickman first took the role of chief executive in 2012 for Glendale Arts — the nonprofit that manages the historic Alex Theatre on behalf of the city of Glendale — she was facing a major challenge.
The state had just dissolved the city’s Redevelopment Agency, and Glendale lost an annual infusion of $415,000 reserved specifically for the downtown theater. Such agencies provided public subsidies to spur economic development and housing construction in blighted city cores.
The following year, a 6,600-square-foot renovation of the Alex that included expanded wing space, dressing rooms and loading docks closed the Art Deco building for several months and led to a six-figure deficit.
Now the 1,400-seat theater is continuing a financial rebound that started during fiscal year 2016, posting a positive first half for fiscal year 2017. The theater, adorned with Greek and Egyptian motifs and featuring a 100-foot Art Deco neon tower, first opened Sept. 4, 1925.
A combination of earned income, fundraising and a packed December schedule — the theater’s busiest time of the year — led to $800,000 in gross revenue, officials said. After expenses, it was nearly $50,000 in the black, Glickman said.
Glickman said the staff at Glendale Arts believe it’s important to be a steward of the venue, and to balance that duty with free programming in the community made possible by partnerships with the Glendale Library, Arts & Culture Department and area nonprofits.
“There were some notable events that took place, especially in the second quarter,” Glickman said. “We had Bernie Sanders at the Alex, and then in the first quarter we launched our first-ever Open Arts and Music Festival in September — an annual free event in front of the theater.”
Glendale Arts received $415,000 as a management fee from the city for the previous two fiscal years. For this fiscal year and next, that will drop to $200,000 and then to $150,000 in fiscal year 2020. Glendale Arts can then renegotiate with the city for a five-year extension on the current lease and management fee.
Although the venue’s renovations are almost 4 years old, they’re a gift that keeps on giving, Glickman said, because the extra accommodations draw past performers as well as attract new bookings.
“People are now aware that we have these new amenities. We have very active calls from many promoters who are interested in using the Alex,” Glickman said. “So it’s still a part of the conversation, even though it’s been a few years and it’s still one of the major attractions for the theater to bring new business in.”