New accounts confirm Gate Theatre is in the red

Dublin’s Gate Theatre made a loss last year, which cut into its accumulated profits, newly-filed accounts reveal.

The theatre made a net loss of €376,387 in 2015, down from a profit of €44,444 in 2014.

The poor performance dragged the theatre’s accumulated profits down to €206,393 at year’s end.

The theatre going into the red came against the background of Arts Council funding declining by nearly €85,000 to €860,000.

Funding from the Arts Council has remained at the same level this year, with the Arts Council stating that it funds The Gate because “it demonstrates extremely high production values and quality acting and directing in the work it produces on a year-round basis. It has an international reputation as an art-led theatre”.

The accounts also show the Gate’s outgoing artistic director, Michael Colgan, saw his overall pay cut by 38% to €142,637.

Mr Colgan has been the creative driving force at what is seen as being one of Ireland’s best-known theatres over the last 33 years and recently announced his intention to step down.

Earlier this month, The Gate announced Selina Cartmell is to succeed Mr Colgan, as of next April.

The theatre’s finances came under the spotlight in 2014 — mainly concerning Mr Colgan’s pay; after his remuneration for 2012 was shown to comprise a basic salary of €120,000, a bonus of around €50,000, and pension entitlements.

The reduction in his basic pay last year followed a 2.5% reduction in 2014 from the €120,000 basic pay in 2013.

In February 2014, the Arts Council wrote to the Gate Theatre to register its “concern” at the “disproportionate” salary being paid to Mr Colgan.