Drum Corps International is pleased to announce that it is the recipient of a grant in the amount of nearly $4.7 million through the Shuttered Venue Operators Grant (SVOG) program, administered by the Small Business Administration’s Office of Disaster Assistance.
“We are grateful to be able to accept this grant to help us to offset the nearly catastrophic business conditions of the past year,” said Dan Acheson, CEO of Drum Corps International. “The sacrifices and beyond-extreme belt-tightening which have occurred over the past 15 months have put us in a position to remain viable and to qualify for this program for the benefit of our participating ensembles and the outstanding young people we are all so privileged to serve.”
Wayne Leide, DCI’s CFO, echoed Acheson’s sentiments. “This grant will assist us in compensating for millions of dollars in lost ticket revenue due to the cancellation of the 2020 tour, as our box office is by far our primary source of income. Our first priorities will be to repay our line of credit, begin to carefully restaff our headquarters operations, and address immediate concerns to ensure a safe and successful experience for everyone involved in our limited tour this summer.”
“We’ve all been through a very challenging year by every measure,” said Chris Holland, chair of the DCI Board of Directors. “This grant is not a prize nor a lottery windfall, but rather, a significant helping hand to our business which has only been made possible through the remarkable discipline, resilience and commitment of our professional staff, participating organizations, corporate partners and all of those who have generously contributed to enable DCI to continue to march on.
“It is quite gratifying to know that we will now have an opportunity to catch our collective breath and create an optimistic plan for our future as we work to continue to bring the life-enriching benefits and enjoyment of what we do to even more people around the world.”