Pros
If you are interested in a certain art scene (closer to street theater, only some visual artists), then working here can be a good introduction. Historically, the hours and vacation are flexible and generous. Usually the co-workers are good people, helpful, and passionate about something.
Cons
The management structure is not always clear or present, and the company operates at the caprice of the director. There is frequent confusion about responsibilities and people are often asked to do things different than what they were hired for. This can be an opportunity for growth, but rarely is there helpful training (or compensation). Professional growth within the company is restricted by its size. Low pay in general is a con. The day to day can get pretty hectic and this may have a negative impact on employees mental well being, mostly because of uncertainty about expectations and how success is measured.