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By Ben Mattison
27 May 2005
The Dallas Opera expects to finish the 2004-05 season with no accumulated deficit, having erased $800,000 in debt over the last two years, the company announced.
The positive result is a reversal of projections that showed the deficit reaching $1.5 million by the end of this past season.
In a statement, board president John T. Cody Jr. praised general director Karen Stone, who replaced Anthony Whitworth-Jones in 2003, for her "responsible stewardship and her skillful handling of staff, patron, and donor demands, energizing The Dallas Opera as never before."
Stone has demonstrated that "artistic quality does not have to be compromised for the sake of the bottom line," he added.
The company attributed the financial turnaround to a two-year fundraising campaign and a series of cost-cutting moves.
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