Despite a drop in paid attendances, the healthy surplus is due largely to donations, endowments and investments.

The Australian Ballet has released its 2016 Annual Report. Despite total paid attendances for its mainstage programme dropping from 89 percent in 2015 to 84 percent in 2016, and an operating deficit of $0.6 million for 2016, the company has posted a $4.138 million surplus, thanks in large part to income generated from The Australian Ballet Foundation through donations, bequests and investment activities.

^{Chengwu Guo and Ako Kondo in Coppélia. Photograph © Daniel Boud}

Now in its 55th year, the AB is the country’s wealthiest performing arts company. However, the money generated through its investment gains on endowments and donations is generally not available to fund the operations of the Company, as it is often capital preserved, or is made available to fund limited, prescribed activities.

One of the country’s 28 Major Performing Arts Company, the AB has secure funding from the Victoria and NSW State Governments, as well as the Federal Government, totalling $7.806 million in 2016. In 2016, the AB staged 302 performances and 21 ballets across Queensland, New South Wales, the...