The last year has been a particularly challenging year financially for the TRANZAC. Our already tenuous financial situation has been exacerbated by a drop in revenue and by unexpected building expenditures. Like most organizations reliant on rental revenue and bar sales, the recent recession also resulted in a very significant impact on our bottom line. We now find ourselves in the situation where we need a short term injection of funds by the New Year, or we may be faced with the prospect of closing our doors or reducing our operations. The TRANZAC has launched a fundraising campaign to raise $40,000 by the end of this year. This campaign will feature several special fundraising concerts and events, an appeal for individual and corporate donations and a renewed membership drive.
The last several years have been a time of incredible growth and excitement at the TRANZAC. Our once sleepy and tight knit club has seen an overwhelming influx of new members and patrons. The music and theatre programming that takes place in our humble abode is consistently profiled both locally and internationally in such publications as NOW Magazine, The Globe and Mail, and the New York Times.
Our stages have helped launched groups such as Rock Plaza Central and plays such as The Evil Dead: The Musical onto the international scene. The TRANZAC has developed into one of Torontoâ€™s most respected and influential music and arts venues and has become the go-to spot for emerging musicians and artists to hone their craft. The TRANZAC has also been the home of the Blocks Blocks Blocks recording club, which has released over fifty albums including releases from two Polaris Prize winners, Final Fantasy and Fucked Up. Until this past year, the TRANZAC was also the long time social headquarters of the Toronto Fringe Festival, helping to fete the best in underground theatre.
We are one of only a handful of non-profit member supported art spaces remaining in Toronto, and play a vital role fostering this cityâ€™s cultural fabric.
The TRANZAC is not the first non-profit organization to struggle financially. Those organizations which have overcome their financial hardships have often emerged stronger and healthier. As a community of passionate and creative people, we believe there is no doubt that together we can overcome these issues and continue to be a sustainable and successful community group.