The Patterson Foundation to Match up to $50,000 for Sarasota Opera’s Entrepreneurial Plan Fundraising

By Afton Wooten

The Patterson Foundation is joining Sarasota Opera’s effort to boost earned income by matching up to $50,000 in growth capital investments toward its Sarasota Opera Costume Studio.

Sarasota Opera is one of the regional nonprofit organizations currently participating in the Patterson Foundation’s Margin & Mission Ignition. The initiative helps nonprofits develop and implement an earned-income plan to strengthen their impact in its community. Selected nonprofits participate in Margin & Mission Ignition’s 30-month planning and implementation and work with No Margin, No Mission, a social enterprise and national consulting firm focused on strategies and best practices to generate revenue throughout that process.

In 2019, Sarasota Opera expanded its costume rental inventory with a historic collection of nearly 50,000 costumes from a leading opera costume rental house. This earned income opportunity was delayed by COVID-19. Following the pandemic the company shared its earned-income plan with potential donor investors during a fast-pitch-style event presented by the Patterson Foundation. This led to an arrangement with Sarasota Opera’s Costume Studio where the Patterson Foundation will match donations dollar-for-dollar. Pledges, in-kind contributions, and debt funding are not eligible to be matched.

“Sarasota Opera is grateful to participate in Margin and Mission Ignition to help revisit this exciting, earned income opportunity that was impacted by the COVID pandemic,” said Sarasota Opera’s General Director Richard Russell in an official press statement issued by the company. “We are deeply grateful to The Patterson Foundation for this opportunity and for providing the matching program to help us build capacity of this business.”