Fox Cities Performing Arts Center financial report

APPLETON - For the third straight year, the Fox Cities Performing Arts Center has posted a profit.

For the most recent fiscal year, which ended June 30, the center had a profit of more than $1.7 million.

The PAC started the public phase of its "Keystone Campaign" two weeks ago.? They're hoping to raise $25 million. Already, $17 million has come in.

But even though ticket sales are strong, and donations are increasing, organizers say the numbers can be misleading.

"If someone made a five-year pledge, for example, to the Keystone Campaign, that entire amount that will be paid out over the five years is recorded in this year's financial statement. And then next year as the cash is coming in, it does not show up on the financial statement," said Maria Van Laanen.

PAC officials say the Keystone Campaign will help ensure that the center continues to be part of the community in the long term.

Source: http://www.fox11online.com/dpp/news/local/fox_cities/Fox-Cities-Performing-Arts-Center-financial-report

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