RSF Social Finance Makes a New Loan to LA STAGE Alliance
SAN FRANCISCO, October 2, 2013 /3BL Media/ - RSF Social Finance (RSF) is pleased to announce a new loan to LA STAGE Alliance (LA STAGE), a non-profit that empowers and supports the performing arts community in Greater Los Angeles. RSF financing will support operations by bridging the gaps between cash flow needs and grant income. Today, LA STAGE Alliance serves over 1,000 organizations and 30,000 performing arts patrons annually.
LA STAGE Alliance creates strategic programming to “raise the floor” for the entire arts community, allowing artists to reach increasingly ambitious artistic and administrative goals as they develop and mature.
LA STAGE Alliance connects artists and arts administrators with opportunities to engage, inspire, educate and entertain their communities. Services and programming they offer include CRM technology (customer relationship management), advertising support, ticket sales, stage and storage space, leadership and administration education, and advocacy. LA STAGE is seen by the community as the go-to source for audience engagement resources and a voice of the arts sector to elected officials and other stakeholders.
“LA STAGE Alliance is the only Los Angeles area performing arts focused service provider with such a depth of programming and strong historical presence in the industry,” says Reed Mayfield, Lending Associate. “They are not only promoting the arts, they’re supporting the community that makes it possible.”
LA STAGE Alliance was formed by leaders of small arts organizations who realized they could leverage their aggregate power to benefit the entire community. LA STAGE has its origins in two separate organizations: The Los Angeles Theatre Alliance, a service organization founded in 1975, and The League of Producers and Theatres of Greater Los Angeles, a trade association founded in 1983. Since 1988, the two companies functioned as a single organization, sharing staff and office space. In 1993, the League formally dissolved and donated its assets to the Alliance (renamed Theatre LA, then LA STAGE Alliance in 2003).
“We're thrilled to partner with RSF,” says Terence McFarland, CEO of LA STAGE Alliance. “They understand the vital role that arts service organizations play in a region's non-profit ecosystem. This loan affords us the opportunity to be more nimble as we financially approach the adaptive challenges we face in the current landscape. We look forward to tapping into the additional resources RSF makes available to its partners.”
About RSF Social Finance
Located in San Francisco, CA, RSF Social Finance (RSF) is a financial services organization dedicated to transforming the way the world works with money. Since 1984, the organization has made over $275 million in loans and $100 million in grants to non-profit and for-profit social enterprises working in the areas of Food & Agriculture, Education & the Arts, and Ecological Stewardship. RSF's lending capital comes primarily from 1,400 individuals who have invested $1,000 or more in the organization's Social Investment Fund. Investors earn a competitive return on their money comparable to a certificate of deposit while their funds are deployed to leading social enterprises. To learn more, visit www.rsfsocialfinance.org.
About LA Stage Alliance
LA Stage Alliance is a 501(c)(3) non-profit organization dedicated to building awareness, appreciation and support for the performing arts in Greater Los Angeles. Since 1975, LA STAGE has empowered artists and engaged audiences by strengthening the sector through community building, collaborative marketing, professional development and advocacy. Today, LA STAGE has over 500 dues-paying member organizations and serves 30,000+ individual artists in the Greater Los Angeles area. To learn more, visit www.lastagealliance.com.
Contact
Reed Mayfield, Lending Associate
reed.mayfield@rsfsocialfinance.org
415.561.6175
Jillian McCoy, Senior Associate, Communications
jillian.mccoy@rsfsocialfinance.org
415.561.6156
