Award recognizes Citi Center as a global leader in achieving breakthrough business results and execution excellence through the Kaplan-Norton Balanced Scorecard.
BOSTON (November 17, 2011) – Citi Performing Arts Center has been inducted into the international Palladium Balanced Scorecard Hall of Fame for Executing Strategy, in recognition of its use of the Kaplan-Norton Balanced Scorecard to achieve exemplary performance results. The induction ceremony took place on Wednesday, November 9th in San Diego, California at the Palladium 2011 Americas Summit.
As the first non-profit arts organization to be inducted in the Hall of Fame’s history, Citi Center joins a distinguished group of organizations from across the globe and both the public and private sectors including Brigham and Women’s Hospital, Cisco Systems, Inc., the FBI, and the Boys and Girls Club of Puerto Rico. As the leading strategic performance management tool, the Kaplan-Norton Balanced Scorecard is widely utilized among Fortune 500 companies but rarely applied in the non-profit sector and never in the arts. Created by Palladium Group co-founders Drs. Robert S. Kaplan and David P. Norton, the Balanced Scorecard links strategy to operations to drive business outcomes.
“The Balanced Scorecard has been a critical factor in Citi Performing Arts Center’s dramatic five-year transformation—identifying priorities, focusing resources, improving execution, and driving results,” said Josiah A. Spaulding, Jr., President and CEO. “Citi Performing Arts Center considers itself an innovative model for non-profit arts organization and is proud to be recognized as the first in this esteemed international group.”
Using the Balanced Scorecard framework, Citi Center implemented a new vision and strategy in 2006—launching an innovative hybrid business model to balance its non-profit mission and operations, creating a community-based arts education program with depth, breadth, and impact, and investing in its cultural facilities and infrastructure to ensure sustainability. In the past five years, this strategy has driven breakthrough results, measured and reported through ClearPoint Strategy. Results include increasing both earned and contributed income, realigning board, staff, and volunteers, and launching a comprehensive evaluation strategy for education program impact.
Today, Citi Performing Arts Center’s Balanced Scorecard-driven turnaround has been cited as a best practice model, garnering media attention and leveraging support from the cultural and business communities. Citi Center gained recent national recognition from GuideStar and BridgeStar for its governance reform initiative, funding from The Kresge Foundation and Massachusetts Cultural Council for historic building reserves, and statewide awards from Arts/Learning for its high-impact arts education programs.
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About Citi Performing Arts Center
Citi Performing Arts Center, which includes both the Wang Theatre and Shubert Theatre, is one of the nation's foremost not-for-profit performing arts institutions. As New England's largest cultural venue, it honors all aspects of the performing arts offering theatre, opera, classical and popular music, international ballet, contemporary dance, one-night engagements, and Broadway musicals. As a 501(c) (3) nonprofit organization located in Boston's historical Theater District, Citi Performing Arts Center offers a diverse mix of educational workshops, lectures, and community activities through its education department; collaborates with artists and local performing arts organizations, and acts as a champion for the arts in the Greater Boston community by aggressively helping to make the arts an integral part of the community's collective, daily experience. For further information, please go to citicenter.org.
About Palladium Group, Inc.
Palladium Group is the global leader in helping organizations solve their most pressing strategy execution challenges. We provide our clients with an integrated set of services—strategy and technology consulting, education, training, and certification—that deliver tangible results and enduring internal capabilities. The benefits of our approach are demonstrated through the Palladium Balanced Scorecard Hall of Fame for Executing Strategy® which recognizes organizations that have achieved premium returns through outstanding execution. Visit ThePalladiumGroup.com.
PRESS RELEASE Release Date: November 17, 2011
Contacts: Julie Banks | Citi Performing Arts Center (617) 532-1247 | jbanks@citicenter.org