Time for a victory dance, New Yorkers.
A new study has revealed that the city’s dance organizations contribute some $215 million to the local economy each year. The study, released last week by the trade association Dance/NYC, looked at the economic impact of 104 nonprofit dance troupes. The study’s results will be used as a benchmark for future studies and will be updated annually, according the association.
The study covered a wide range of nonprofit groups, from the debt-ridden New York City Ballet — whose annual operating budget hovers around $62 million — to smaller groups such as Thin Man Dance. More than half of the groups surveyed have an annual budget of less than $1 million and receive much of their income from institutions such as the Jerome Robbins Foundation. Many smaller dance groups are not registered nonprofits and thus were not covered in the study.
Dance/NYC hopes its new study will encourage donors to further invest in local dance organizations.
