On Sunday and Monday, the Guggenheim Museum’s Works & Process series offered three chances to see new works performed by what was billed as “The Dance Theatre of Harlem.” And what was on display was, essentially, the current Dance Theatre of Harlem: an ensemble of talented students.

There was no sign of the worldrenowned professional company of the same name, which went on hiatus in October 2004 when cash flow problems and an accumulated organizational debt of $2.4 million forced the venerable institution to temporarily close its doors. And there was scarcely a mention of the missing company during the panel discussions that punctuated Sunday night’s performances.

Finally the moderator, dance writer Zita Allen, asked Arthur Mitchell — DTH’s founder, artistic director, and motivator in chief — what she called “the question everyone here is wondering.”When would the company return?

“As soon as possible,” was all Mr. Mitchell said.

For the most part, Sunday’s conversation between Mr. Mitchell and the choreographer-panelists — Robert Garland, Endalyn Taylor, and Keith Saunders — celebrated and described the organization’s educational mission. Mr. Garland, Ms. Taylor, and Mr. Saunders all teach at the school, and all three are emerging choreographers (exemplifying, as they noted, another much-needed opportunity afforded by the institution).

With students dancing in pieces created by their teachers, the evening had the flavor of an advanced school recital. For the moment, the 37-year-old DTH exists as a ballet school, serving 500 students (from across the country and around the world) on an operating budget of $4.3 million.

The school has been the institution’s clear priority since its latest budget crisis. In December 2004 — six weeks after the organization suspended all operations — the school reopened, under a new management structure. Mr. Mitchell retained the title of artistic director, with fiscal and institutional management duties (reportedly not Mr. Mitchell’s strongest suit) being reassigned to a new executive director — 17-year DTH veteran Laveen Naidu.

Under the new structure, there has been institutional progress. The board — down to three members at one point — is being rebuilt, with an eye toward fund-raising. Teachers and administrators — who went unpaid during one stint in 2004 — have been receiving their paychecks. According to Mr. Naidu, half the accumulated debt has been liquidated, with the remainder “primarily owed to Mr. Mitchell.” The Ford Foundation, the Irene Diamond Fund, an anonymous donor, and the Catherine B. Reynolds Foundation have each made significant donations of $1 million, some dispersed over multiple years. (Catherine B. Reynolds, briefly the board’s chairwoman, no longer serves on the board. Board member Nancy Aronson became chairwoman in September.)

Two years after the crisis, there’s no concrete timeline for bringing back the company. Though technically the former dancers are still “on hiatus,” many have moved on. The fortunate few — like Alicia Graf, now dancing at Alvin Ailey American Dance Theater — found fulltime work at comparable companies. Some former dancers have been guesting with smaller ballet companies. Still others have taken pick-up work with New York companies like Fugate/Bahiri Ballet NY and Henning Rubsam’s Sensedance.

“Yes, the dancers are working,” Mr. Naidu said after the Guggenheim show. “But those opportunities — for minority dancers to practice their art form on the highest level — are still so rare. Without a company, our mission is not fully realized.”

Despite the influx of donations, Mr. Naidu says there isn’t yet enough money to re-establish the company on what he calls “a stable and sustainable platform.” He estimates it would take startup funds of “at least $6 million — $2 million a year over three years” — to bring back the company in a leaner form than its previous 44-member incarnation.

Part of the difficulty comes from the long hiatus itself. Major venues book touring troupes at least a year in advance. It will take years for DTH, once one of the world’s most popular touring companies, to reclaim its slots on those calendars — and its all-important touring income. (The company’s earnings averaged between $2 and $3 million a year from 2000 to 2004, according to Mr. Naidu.)

Without that level of touring income, the start-up version of the new DTH will have to rely on donations to pave its way back to full strength. “We’re working day and night to do this as fast as we can,” Mr. Naidu said. “But we want to make sure that when we bring them back, we bring them back to stay. It has to be sustainable.”