For a while, it seemed an empty stage and vacant seats were all that was left of CTM.

"Madison Family Theater was declared deceased, dead as a doornail."

That's coming from Ebenezer Scrooge, the theater's most iconic figure, thanks to their signature annual production of "A Christmas Carol."
But ghosts of fiscal years past are what doomed the CTM.

"We were carrying a lot of debt that has been accumulated from seven years past," says CTM president Sandra Fernandez.

In January, the theater, $300,000 in debt, went dark.

"And we are all here today and very happy to announce, that after our brief intermission from our spring shows, that the curtain will indeed be rising once again," said Fernandez at a news conference Tuesday.

Volunteers have been working to raise enough money to re-open the theater.

Though small in stature, one big contributor was Nancy Thurow, who founded the organization 41 years ago.

"The wonder, the love, the beauty, the truth, the joy of the theater for all."

To ensure future generations learn those same things from the theater, CTM is changing how they do business.

"We have been reorganizing our operations to build an effective business structure for the company and we have begun to mend our relationships with our friends in the business community."

That means paying off CTM's debt within 8 months and cutting back from a six show season to three.

"And we are going to make sure we have a balanced budget this year and next year and the year after that," says Terry Haller, the fundraising organizer.

Sounds like they learned a lesson from their leading character, the always money-conscious Mr. Scrooge.

So far, CTM has raised $410,000 through donations. They're hoping to raise about $90,000 more.

To find out more about donating and tickets for A Christmas Carol, go to overturecenter.com