The Art Theater
A program of the Art Film Foundation
126 West Church, Champaign, Illinois 61820
31 July 2017 to 31 October 2019
Once again financial considerations led to a change in ownership. The Co-Op had met with success, but depended heavily on ticket and concession sales. Owners were restricted in the number of shares they could own which limited additional capital. The Co-Op, legally a for-profit corporation, was ineligible for most grants. A change to non-profit corporate ownership appeared the best way to ensure the viability of the Art by supplementing ticket and concession sales with grants, donations, and memberships.
The situation was discussed at the annual meeting of owners in 2017 followed by an overwhelming vote to merge with the Art Film Foundation. The AFF voted at its May 2017 meeting to approve the merger of the old Co-op with the Art Film Foundation, a not-for-profit corporation with 501 (c) 3 status, effective 31 July, 2017.
Is it the end or another crossroads?
The Art Film Foundation announced that it would cease operations effective 31 October 2019. This would be several days shy of the building's 106th anniversary.
31 October 2019 closing announcement.