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re: how do investors in a non profit production make money

Posted by: ryhog 10:06 pm EDT 08/09/14
In reply to: re: how do investors in a non profit production make money - garyd 06:57 pm EDT 08/09/14

I don't think NY ever passed the law, but it would not have application to what is being discussed here in any event.

There is no such thing as investing in a NFP production. One can, as you say, donate and one can "enhance" which is a contribution in connection with a right of first refusal for the rights to (commercially) produce a show that starts in a non-profit. A non-profit can invest (subject to caveats) in a commercial production, and can also obtain points in consideration of its undertaking.

I fully agree that the OP should get counsel on everything, and most of the remaining questions of the OP really require interacting with someone offering a deal. Depending on the property, what is offered for what can vary greatly although what you've said sounds generally right, with the caution that (as I am fond of saying) there are no rules on these matters.


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re: how do investors in a non profit production make money

Posted by: actor103 11:47 pm EDT 08/09/14
In reply to: re: how do investors in a non profit production make money - ryhog 10:06 pm EDT 08/09/14

I do have a tax advisor. He said I qualify. But...He laughed and told me I was crazy for investing in theatre plus a few choice observations about the business of theater and how ludicrous the deals are. He knew nothing about investing in a non-profit production though he had all the 501 c 3 donation info.

He clearly does not think that the industry has much understanding of business. I could almost hear him shaking his head. That's ok. We all do crazy things for love. At any rate got an office number for one of the producers. Wish me luck. Thank you for all the advice. Very much appreciated.


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re: how do investors in a non profit production make money

Posted by: ryhog 11:14 am EDT 08/10/14
In reply to: re: how do investors in a non profit production make money - actor103 11:47 pm EDT 08/09/14

There is an esteemed producer who shall go nameless here who likes to rag on accountants. The theatre is a high risk business, and accountants are by nature risk averse, he reminds, but "I don't see many accountants at parties in the Hamptons." Successful producers don't operate on love or luck, and they don't do crazy things (not very often at least). Everyone miscalculates but those who are successful are only crazy like a fox.


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lol...

Posted by: garyd 12:04 pm EDT 08/10/14
In reply to: re: how do investors in a non profit production make money - ryhog 11:14 am EDT 08/10/14

I guess I agree with everything except "accountants at parties in the Hamptons". In reality they eat the most food and drink the most booze.

And, of course, accountants are "ragged "on by upper management in every business. If you're not ragging on your accountant then your accountant ain't doing his job.


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:)

Posted by: garyd 10:36 pm EDT 08/09/14
In reply to: re: how do investors in a non profit production make money - ryhog 10:06 pm EDT 08/09/14

Well,in my experience, being" generally right" in this business is about as good as it gets.


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re: :)

Posted by: ryhog 11:34 pm EDT 08/09/14
In reply to: :) - garyd 10:36 pm EDT 08/09/14

absolutely. only horseshoes is better.


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