The Appalachian Theatre of the High Country (ATHC) announced today that their decade long capital campaign had reached its ten million dollar goal as of December 31, 2021. ATHC chair Keith Martin shared the welcome news at the February meeting of the board of trustees, and cited accelerated pre-payment of multi-year pledges and generous new gifts as primary reasons why the goal was attained. While a few pledge commitments are still outstanding, and several capital needs still exist to be met, Martin said that the record amount of campaign contributions received in the last fiscal quarter of the calendar year, including a major anonymous gift, put the effort over the top.
“To hit this benchmark during a worldwide pandemic is, quite simply, remarkable,” Martin noted, “and we are so incredibly grateful for the extraordinary generosity of High Country residents and visitors who value the performing arts, as demonstrated through the meticulous restoration and complete renovation of this venerable historic theatre.”
John Cooper, founding board chair and head of the capital campaign for over a decade, said that both trustees and the general public should take pride in the fact that the project has been completed and all related costs paid in full. “We promised our stakeholders that our construction bridge loan would be collateralized only with cash in hand, signed pledges, corporate gifts, foundation grants, and reliable, renewable contributions from known sources, both public and private. Today, we are very proud to have fulfilled that promise.”
“This is a model partnership, one about which First Horizon Bank is honored to have played a supporting role,” said Market President Jason Triplett, whose financial institution provided the backing to help the theatre meet its construction obligations, in addition to the bank’s own generous contributions to the campaign. “It doesn’t surprise me that they have paid off the bridge loan years ahead of schedule, given the quality of leadership, the passion of their dedicated volunteers, and a strong commitment from almost every sector of our vibrant community. Bravo!”
Board treasurer Brady Combs tempered the news with a reminder that the theatre has experienced operating losses during the three years since its reopening in October 2019, primarily due to the ongoing pandemic. “We look forward to ensuring the organization’s continued fiscal responsibility and financial health through stabilization plans we didn’t dream could be shouldered for many years.”
Executive Director Laura Kratt echoed Combs, and added that the theatre was hit hard by the extended pandemic-related closure, occurring just five months after the much-anticipated reopening. This fact, combined with severe winter weather, caused the postponement or cancellation of several scheduled events. “We’re still here!” said Kratt. “Together, we rebuilt and reopened this landmark theatre. Now that the capital campaign is completed, the real work begins: to make this historic venue sustainable from an operational standpoint.”
Trustees applauded the accomplishment, which Martin noted aligned perfectly with the mission of the Appalachian Theatre of the High Country, “to revitalize and sustain this historic community touchstone as a quality home for diverse artists and audiences with a special focus on programs that celebrate our distinctive Appalachian heritage and enhance our capacity to serve as an economic catalyst for Boone and the High Country.”
Once a gorgeous 999-seat Art Deco movie house, the building closed in 2007 and sat empty and gutted for years. On October 14, 2019, the Appalachian Theatre reopened its doors after a $10 million renovation that brought the distinctive Art Deco details back to this historic theatre and created a new 629-seat, state-of-the-art, acoustically pristine venue for live concerts, films, plays, and dance performances. The historic Appalachian Theatre has entertained regional audiences in the heart of downtown Boone, North Carolina since 1938.
For more information about the theatre, or to join the their eblast list, get tickets, or purchase memberships, please visit the ATHC website at www.apptheatre.org.
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