In what looks increasingly like it will achieve a “Hollywood ending,” the nonprofit West Newton Cinema Foundation announced it has raised sufficient funds to purchase and save the West Newton Cinema, in preparation for its restoration as “a hub of enjoyment and community, where mainstream, classic, independent, and otherwise unconventional films enrich our lives, expand our horizons, and strengthen our connection to the world.”
On June 27, Elizabeth Heilig, President of the Board of Directors of the Foundation, said the Foundation has met its Phase I goal of raising $5.6 million by the August 10 deadline set by current owner, Mark Development. Heilig announced, “In the coming weeks, we plan to purchase West Newton Cinema.” Raising $5.6 million was the first step in the Foundation’s campaign to raise $14 million for acquisition and restoration.
As reported previously, an anonymous gift of $5.2 million to the Foundation in April dramatically improved the Foundation’s likelihood of success. The gift consisted of $3.2 million as an anchor gift, along with $2 million in funds to match additional fundraising. The Foundation reports that 60% of its donors live in Newton.
Phase II
Having achieved the Phase I goal, the Foundation has begun Phase II of its fundraising campaign, which involves raising another $8.4 million, of which $4.4 million is slated for building renovation and $4 million will be held in endowed assets to fund future programming and building maintenance.
In a recent Campaign overview, the Foundation highlighted the resurgence in patronage at the Cinema, driven by national trends and the Foundation’s increased emphasis on community-focused programming and events. According to the Foundation, attendance increased 91% from 2022 to 2023, and the Foundation’s estimates from early 2024 indicate another 30% increase for this year.
The Foundation emphasized the community benefits of its plans, saying that the restored West Newton Cinema would be a major economic driver for West Newton Square by attracting tens of thousands of visitors each year. The Foundation further states that “The Cinema, with its intimate and unique character forms an irreplaceable thread in the fabric of local life.”
Heilig expressed gratitude to the Foundation’s lead and major donors, and said she was thankful to the Foundation’s more than nine hundred supporters for their commitment to the campaign. She continued that the Foundation seeks support to reach the ultimate goal of $14 million, and stated that leadership and major gifts, including naming opportunities, are key elements. For information on leadership gifts to the Campaign, with naming opportunities, contact Elizabeth Heilig at elizabeth.heilig@wncfoundation.org.
