jkcohen626 said: "Are you sure that Shubert is non-profit? I've never heard that before."
The nonprofit status is widely known, though a complex bit of accounting. Michael Riedel's book goes into great detail about it, as does this article.
Due to a 1979 IRS ruling, all income from the Shubert Organization flows into the nonprofit Shubert Foundation. There are no shareholders of the Shubert Org, just salaried employees. All income goes to salaries, operations, theatre upkeep & refurbishment, and millions and millions per year in grants via the Foundation.
I think you're allowing your brain to spin out with hypotheticals. Unless there was some legal ruling or an apocalyptic catastrophe, I see zero reason why Shubert would ever sell their valuable assets in my lifetime.
Updated On: 3/27/23 at 01:46 PM