Strategic Issue: Finance

1. Develop business plans with established metrics and measurements for each revenue function.
a.   Increase monetary gain from ticket sales by 10% in the next five years
i. Evaluate what shows have earned them the most money.
ii. Look at sales from the previous year.
iii. Look at amount of season ticket holders.
b.   Limit monetary spending for community outreach by 5% in the next five years
i. Evaluate costs for community outreach.
ii. Evaluate if there is a rise in ticket sales following outreach events
iii. Reach out to donors for community outreach purposes.
c.   Increase donations for each year by 3%
i. Look at what we earned from donors from the previous five years.
ii. Evaluate minimum amount needed from donors to maintain operating budget.
iii. Research sources to accrue more donors.

2. Manage the endowment as a long-term investment, utilizing and evaluating it for long term
growth.
a. Establish a system for evaluating the performance of the parties involved with the
Opera’s endowment portfolio in the next five years
i. Create a list of the parties involved
ii. Create an investment committee
iii. Hire an investment advisor.
b.   Evaluate how the company spends the money over the course of one fiscal year
i. Evaluate the twelve-quarter average
ii. Consider shifts in the endowments support
iii. Consider the financial position of the opera.
c.   Raise the endowment by 10% in the next five years
i. Evaluate shortcomings of the previous strategic plan.
ii. Accrue more multi-year gifts
iii. Seek leadership gifts.

3. Consider what additional resources are needed to execute our current strategic
direction over the next five years.
a. Assess state of operating budget and determine areas where investment of resources
should be increased or decreased to achieve Opera San Jose’s goals in the next five years
i. Compare new budget to last year’s operating budget.
ii. Compare new budget to peer groups’ operating budget.
iii. Follow the model laid out in our new budget
b. Establish a target ratio for needed funds to run for the next five years.
i. Evaluate annual fundraising.
ii. Evaluate endowment income.
iii. Evaluate earned income.
c. Improve upon staffing roles and responsibilities related to financial processes and
determine the appropriate staffing structure.
i. Determine if there are any positions that are expendable.
ii. Determine if there are any jobs that can be combined
iii. Determine if we lack any key personal to run more efficiently.