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Despite operating in the red last fiscal year, Livermore Valley Arts is doing well financially with an operating reserve of over $1.3 million, according to CEO Chris Carter and the nonprofit organization’s annual report to the City Council.
Responsible for programming at familiar locations such as the Bankhead Theater and Bothwell Arts Center, LVA earned a total, unaudited revenue of $3,961,465 during the 2024-25 fiscal year, Carter told Livermore councilmembers at their Dec. 8 regular meeting as part of the organization’s annual update to the community.
The record-setting revenue can be attributed to strong ticket sales across programming by Bankhead Presents, he added.
Meanwhile, LVA saw a “significant drop” in charitable donations beginning this past February — a trend visible in arts organizations across the country, Carter said.
To make up for the dip, LVA launched a $1 million matching gift campaign this year, which organization officials expect to exceed its goal.
On the flip side, unaudited expenditures last fiscal year totaled $4,313,115, a figure composed of programming, administrative and fundraising costs.
Looking toward the future, he estimates that the Bankhead will require approximately $2 million to $3 million worth of upgrades and maintenance over the next 10 to 15 years, efforts LVA officials are currently planning for.
“Our overall financial health remains strong,” Carter said. “I don’t think we’re going to be going anywhere anytime soon.”
In addition to LVA’s financial outcome of the 2024-25 fiscal year, Carter also presented the reach of LVA throughout the period. The organization has supported 222 programs at the Bankhead Theater, eight cultural celebrations in the Bankhead Plaza as well as over 200 classes, camps, events and programs at the Bothwell Arts Center and throughout Livermore.
According to Carter, an estimated 90,000 people engaged with LVA programs during the past fiscal year.
LVA has also served the community by providing $10,000 in grants to resident companies for their work in arts education as well as offering free tickets to nonprofit partners that provide essential services such as Open Heart Kitchen, Tri-Valley Haven, CityServe of the Tri-Valley, Goodness Village and Vet Tix.
Following Carter’s presentation, approximately 10 representatives from local organizations expressed their support and gratitude for LVA’s work.
Among those to express their support was Jonathan Kleid, president of Livermore Valley Opera’s Board of Directors, the largest resident company at the Bankhead.
“When our company celebrates its 35th anniversary next year, it would be near-impossible to have attained this milestone without the Bankhead as our home,” Kleid said.
Tri-Valley Haven Executive Director Christine Dillman also expressed her appreciation to LVA, particularly for the organization’s donation of event tickets.
“Many of our shelter residents are rebuilding their lives after escaping domestic violence, sexual assault or homelessness,” Dillman said. “The opportunity to step into a beautiful community space, to feel welcomed, inspired and included is profoundly healing.”
During a later comment period, Tri-Valley activist Alan Marling expressed his disapproval of select LVA leaders — saying LVA board members Jean King and Joan Seppala, publisher of The Independent, have delayed affordable housing downtown for years to the detriment of Livermore workers.
Marling then requested that the city defund LVA and either shut down the Bankhead Theater or issue a statement of condemnation against King and Seppala.
In line with the majority of the commenters, Livermore Mayor John Marchand expressed his fondness for the Bankhead.
“Preaching to the choir here, we all understand the importance of the arts,” Marchand said. “I look forward to many, many decades and many generations of the arts here in Livermore”.
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