Surplus, New Plan Help Opera Pacific Cut Deficit

Opera Pacific’s 1998-99 budget surplus came to $220,000, according to figures announced Monday by company officials at their annual board meeting in Costa Mesa.

The surplus, which the company had been expecting, was Opera Pacific’s first in two years and reduces to $724,000 the accumulated deficit the company has been struggling with for three years.

The company also announced it has already raised more than $1.5 million as part of a new three-year campaign to create a $3.5-million operating endowment. That effort was jump-started with a $1-million, three-year pledge from an anonymous donor.

“With the success of the capital campaign, we will be able to eliminate the deficit by the end of the current year, executive director Martin Hubbard told the board.

Total income for the fiscal year ending Aug. 31 was $5.72 million; expenses were just under $5.5 million. Income from ticket sales reached nearly $2.5 million, about the same as the previous season.

*

Subscriptions, at 5,024, were down slightly, but single-ticket sales were up and made up the difference.

In all, the Irvine-based company received donations of $2.7 million for the year. Fund-raising efforts and earned income (mostly from merchandise sales) brought in another $436,000.

Opera Pacific will hold its annual fund-raising ball Oct. 23 at the Newport Beach Marriott. Information: (949) 474-4488, Ext. 320.

Its 14th season opens Nov. 9-14 with Verdi’s “La Traviata” at the Orange County Performing Arts Center in Costa Mesa. Information: (800) 346-7372.