NEW YORK: Broadway theaters have closed for over a year due to coronavirus. Broadway shows are ... one of the new Biggest attrCity of York tourism actions bring in approximately $ 1.8 billion in ticket sales per year. (Photo by Spencer Platt / Images)
Images The SBA has opened up site operators to Grant Application Portal (SVOG) streams on April 8, 2021, for performance venue operators, including:
- Live performing arts organizations ,
- museums
- cinemas
- venue promoters, venue producers and talent representatives
Entities that had to close their doors a year ago in response to the COVID-19 pandemic are eligible.
"Concerts, plays, dance performances, film premieres, museum exhibits - these are the vital elements of culture and community, and often the anchor of travel, tourism and food and quarter retail storesier, ”said Isabella Casillas Guzman, administrator of the SBA.
“We know that for stage and venue operators across the country who are helping to keep this culture alive, the pandemic has been devastating. Too many people have been forced to lower the final curtain on their businesses, ”added Casillas Guzman.
The financial losses are staggering. According to one marking the anniversary of the COVID shutdown, Broadway grossed over $ 1. 8 billion in his last full season (2018-2019). Based on that figure, Broadway lost an average of $ 35 million in gross revenue per week, according to the Broadway League. An estimated 97,000 workers who depend on Broadway for their income have lost their livelihoods due to the pandemic.
At present, more than $ 16.2 billionare available through Grants for Shuttered Venue Operators to help support performing arts and cultural organizations.
"The SBA is committed to acting as quickly as possible to provide this essential funding in an efficient and equitable manner - ensuring that aid goes to site operators with revenues were the most affected by the pandemic, ”Casillas Guzman said.
At least $ 2 billion is set aside for eligible SVOG applications with up to 50 full-time employees. Eligible applicants may be eligible for grants equal to 45% of their gross earned income up to a maximum amount of $ 10 million for a single grant.
The SBA accepts SVOG applications on a first in, first out basis. The first 14 days of SVOG rewards, which are slated to start in late April, will be dedicated to entities that have experienced a 90% loss in revenue or more.us between April and December 2020 due to the COVID-19 pandemic. The last 14 days (days 15-28) will include entities that experienced a loss of revenue of 70% or more between April and December 2020.
After these periods, SVOG rewards will include entities that have suffered a 25% loss or greater loss of revenue between a quarter of 2019 and the corresponding quarter of 2020.
The SBA hosted a national information webinar () to highlight the application process for potential eligible entities. The agency also provided updates and recurring information on the program through ,, a and through the SBAs.
In developing the funding program, the ASB worked closely with partners, including agencies dedicated to relevant industries, such as the National Endowment for the Arts and the Institute of Museum and Library Services. The agency also consulted with partindustry partners, such as the National Independent Venue Association, the National Association of Theater Owners, the National Broadway League, the American Alliance of Museums and the Associations of Art Museum Directors, and other organizations.
Applications are accepted on an ongoing basis and reviewed based on time of receipt. The SBA will determine, based on the income information, the priority phase of processing the request. Rewards will continue to be awarded until all funds are committed.
Basic documents needed include a written statement of need (ensuring the organization was in business on February 29, 2020), company documents including articles of incorporation, a government issued photo ID of the chief executive of the organization, a list of employees with job titles and employee statisticses, and tax-exempt documents (for non-profit organizations).
Required financial documents include 2019 income tax return, 2020 income tax return (when filed), 4506-T (tranion of income tax return), quarterly income statements for 2019 and 2020 , payroll statements and a copy of the last audited financial statement.
While the organizations themselves are often nonprofits, the arts generate billions of dollars in revenue across the United States. Just as the (PPP) has thrown a lifeline for struggling small businesses, the SBA Closed Site Operator Grant will help keep arts organizations alive.
