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4-29: Joffrey Ballet of Chicago Reduces Debt
Joffrey's Debt to Dancers Still Lingers
By Dance Insider Staff
Copyright 2002 The Dance Insider
CHICAGO -- The Joffrey Ballet of
Chicago has reduced its accumulated debt $1.2 million to $2.4 million, executive
director Jon Teeuwissen told the Dance Insider.
"Part of that reduction is pay-down
of a bank loan," said Teeuwissen. "The larger part is debt forgiveness by two
board members who fronted the expense of moving the company from New York to Chicago."
The Joffrey Ballet of Chicago also
owes a debt to many dancers for the former Joffrey Ballet, who did not have a
choice as to whether to forgive salary the company owed to them when the company
ceased to exist as "the Joffrey Ballet" and re-constituted itself in 1995 as a
new organization, the "Joffrey Ballet of Chicago," which, technically if not ethically,
was not liable for the debt owed to the dancers. After pressing for some restitution,
those dancers today receive a small amount from boutique sales, but it is nowhere
near what they were owed.
The JBC is currently in the midst
of a capital campaign to raise $24 million to renovate a building that was donated
to the company in 2000, and that will become its permanent home, Teeuwissen said.
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