First of all I wanted to say hello and introduce myself since I'm brand new as of today, and just found this sight yesterday!!!  I've read a couple articles on starting your own company (SHOULD you begin, and the article about non-profit organizations) which I found to be immensely insightful and just got me even more excited.

I'm from Portland Metro area in beautiful Oregon, and am a theatre major from Whitman college.

OK now to my question:

My passion is to create a theatre in my community that will not only draw an audience and create culture, but also stretch them with regards to plays (ie not doing ONLY comedies but also introducing them to dramas as well).  That being said, I would love to put my heart and soul into this (When I get into a project I go all the way), however there is the fact that I must also make a living.  So my question is...is there a way to create a company (non-profit) and be one of the main directors of it and be able to make an income that I could conceivably live comfortably with?  Regardless I'm planning on having a go at it anyway, I"m just hoping that I can make a living off of this since I currently am not fancying my current job.

Can't wait to hear replies and I look forward to meeting people and swapping ideas/knowledge!

Thanks Joe! Thanks for the link to the articles for Green Room. I did see the aact website.  I just was curious if anyone on here had actually started a company and was able to live solely off of running it. 

As a community theater, you are not in it to make a living.  Though some community theater do hire staff for various positions, many are part time jobs and lower pay on the scale. 

Yeah I figured as much with regards to Comm. Theatre.  I do like the idea of classes though, I think that would be a great idea while the theatre is dark.  I will check into seeing what the SBA has to say.

Thank you all, I really appreciate your input!

You can contact your SBA, but I think an even better place to start is with your local, regional, or state arts council.  Every state has one, but it's a hit or miss thing on a local or regional level.  Talk to them about the theatre needs in your area and how you might want to help to fill those needs. 

For the time being, plan on keeping your "day job".  I don't say this to be discouraging.  To be honest, I don't want to be encouraging or discouraging.  I think the research you do in looking at the feasibility of starting something will be encouraging or discouraging enough! 

Also, don't decide yet if it should be a community theatre, an educational theatre, or a professional theatre.  None of these preclude being non-profit (which can be a very daunting process).  First, talk to local theatre people, local arts people, and others and come up with a vision.  Build the dream then begin to put together the steps you will need to take to make it come true. 

Trust me, you will most likely have to make tons of compromises along the way, but if you always keep the core concept intact, you'll be okay. 

Good luck - and keep us posted on your progress!