Theatre Design & Technology - Winter 1996 - 72

William J. Byrnes, Editor

POSITIVE FINANCIAL STATUS CONTINUES

nited States Institute for Theatre Technology, Inc. once again demonstrated the results of sound financial management by completing the
most recent fiscal year ,,~th a small surplus and a positive fund balance.
The net worth of USITT, a Not-For-Profit 501 (3) (c) corporation is the
sum of its fund balances. With two recent successful SITT Annual Conference & Stage Expos, the Institute's fund balances have shown healthy
growth, more than doubling in the last nine years.
.
Balances for each USITT fund are shown in the accompan)~ng
financial statement.
USITT hInds are classified as UNRESTRICTED and RESTRICTED
FUNDS. Funds are established by the USITT Board of Directors. UNRESTRICTED FUNDS are labeled as to use by the USITT Board of Directors.
RESTRICTED Fill\1J)S are established foUO\,~ng the conditions or ,,~shes
of the persons or entities pro~ding financial contributions to the fund.

anlOunt is transferred from this fund each year foUO\~g a successful
conference into the Operating Fund to pro~de support for USITT acti~-
ties beyond the revenues obtained within that fund.
COMMlSSlONERS Fill\1J) - This fund was created to acknowledge the
work of the commissioners in conference programming planning. The
fund is increased each year based on a percentage of income, less expenses, from the Professional Development Workshops. Expenditures
are made from this fund for commission acti\~ties beyond the resources
of the operating budget and to support special activities, projects and research.

RESTRICTED FUNDS

E /DOWMENT FUND - The USITTlEdward F. Kook Endowment Fund, established in 1978, pro\~des funding to further oliginal and imaginative
research, investigation and development in performing arts
design and teclmology. Revenues to this hInd include contributions made by USITT and many USITT members, and interUSITT TOTAL FUND BALANCES I
est from investment. Grants are made from this fund by an
600 ,-----------------------~
application and selection process published each September
in Sightlil1es.
FIXED ASSET FUND - Tltis fund is maintained for the purpose
of acquiring property and equipment. At various times the
Board will transfer funds from the operating account to ac400 [ - - - - - - - - - - - - - - - - - - - quire capital assets.
lJ'ITERNATlO TAL ACTMTIES Fill\1J) - The purpose of this fund
is to pro~de support for international acti~ties. This fund
was established in 1990 ,~th a generous conlIibution by lifetime member Sanlllel H. SClipps. Revenues to this fund in200
clude contributions from members and organizations who
specifically ,,~sh to support international acti\~ties. This fund
supports SITT members attending international meetings
and persons coming to the United States to participate in
o
SITT acti\~ties.
86/87
87/88
88/89
90/91
91192
89190
92/93
93/94
94/95
t\IEW
CE TTURY Fill\1J) - Established in 1994, this fund pro208,439 252,860 230,043 265,254 278,032 270,548 268,672 304,760 491,604
,~des a receptacle for voluntary conlIibutions, planned gi~g,
life-time gifts, memorial gifts, estate bequests and special
US/IT TOTAL FUND BAJANCES have maintained an
awards as selected by donors. The KM Fabrics, Inc. Technical
upward trend over the past nine years.
Production Award and Cleat~Com Sound Acltievement Awat'd
are Suppol1ed within tltis fund.
U TRESTRICTED FUNDS
PQ '95 Fill\1J) - Tltis fund was created to support tile production of the
USITT sponsored nited States enby to the Prague Quadrennial in June
OPERATING FUt\1J) - This hInd supports the revenue atld expenses of the
1995. Contributions to tltis fund include a grant from the United States
operating budget. Revenues in this hInd include membership and publiInformation
Agency, Sa.t11uel H. SClipps, Intel11ational Theatre Institute
cations sales and advertising. Expenses are categorized witltin operating
and contributions from tile USITT Operating account atld from indi~dual
centers grouped under the title of a USITT officer. Each officer is responSITT members.
sible for and selves as atl advocate for acti,~ties of committees, comntisRIGGlJ'IG
FUt\1J) - Tlus hll1d supports the ongoing USITT effol1s, led by Jay
sions and other acti~ties in their areas.
O.
Glerum,
to produce standards and professional guidelines for rigging
CONFERENCE FUND - The Conference Fund supports the revenues and
and
stage
macltinery.
expenses of the USITT Annual Conference & Stage Expo. A specific

WINTER

996

TD&T

Table of Contents for the Digital Edition of Theatre Design & Technology - Winter 1996