Playhouse Square Fundraising Campaign Exceeds Goal
Playhouse Square’s “Advancing the Legacy” campaign exceeded its $100 million goal expectation.The performing arts organization announced last week raised $110 million over the past five years.
Art Falco is the retired CEO of Playhouse Square who now serves as a senior advisor. He said organization is grateful to community members who recognize how important the theater district is.
“We had corporate support. We had foundation support. We had individuals who believe in the mission, and in fact, it was such a cross section that we have almost 2,600 donors that made a contribution to the campaign,” he said.
Falco said more than $15 million has already been spent to restore parts of the theaters, update restrooms and increase legroom in seating areas. It also helped establish an education endowment to provide free tickets and transportation to Cleveland students.
Along with the help of the Motion Picture Tax Credit, which now extends to theater productions, Falco said having an investment fund will entice Broadway producers to work in Cleveland and have longer show runs at Playhouse Square.