Arts New Managing Director at ACT
posted by March 1 at 19:02 PMon
The press release: Susan Trapnell is stepping down as managing director. Jolanne Stanton is stepping up.
What it suggests: That ACT is finally feeling financially healthy again. Trapnell had been a managing director at ACT from 1982-1998 and when the shit hit the fan in 2003, they called her back to save the day. We can infer that, four years later, the day has been saved.
Now Trapell is going to work as ACT’s first Executive Director of Endowment Funding, to build a big cushion whose interest will be a significant source of institutional funding. ACT’s current endowment is around $2 million. The Rep’s is around $15 million.
The new managing director doesn’t have much theater-management experience—she has served on ACT’s board for about a year—but has served on various committees at Princeton for over a decade.
Kurt Beattie remains the artistic director.
Correction: The Rep’s endowment is around $18 million.