NittieGreen Posted March 7, 2009 Report Share Posted March 7, 2009 I have heard that Music For All is threatening to go bankrupt and is asking bands/directors to donate money. Anyone have the scoop? Quote Link to comment Share on other sites More sharing options...
rpd Posted March 7, 2009 Report Share Posted March 7, 2009 Very true, they had some financial problems earlier this year that was threatening BOA. Although I don't think they were in danger of being bankrupt. If worst came to worst, I think they would have just cut some regionals, and take away some bells and whistles. However, they reached their goal of raising $250,00 for the upcoming year. This is an email that went out to all MFA/BOA newsletter subscribers. " Dear BOA Alumni, Parents, Teachers, Family & Friends: Greetings & Congratulations! I am pleased to inform you that in 81 days Music for All's BOA family successfully raised $250,686. Gifts received prior to the close of the fiscal year (February 28, 2009) totaled $249,166. All of the donations received before the end of the fiscal year have been allocated to reducing the organization's projected year-end deficit. All donations received after February 28, 2009 are being allocated to the current year's annual fund. As we bring this campaign to a close, there are numerous people that I want to thank. I must start with thanking my tireless staff for staying committed during this time of unrest. To all the BOA alumni that held fundraising drives, reached out on our behalf and/or shared heartfelt testimonials of the joy that BOA has provided to them, thank you for your generosity and for making me smile (and often cry). To the parents of the 1.25 million BOA Alumni, thank you for your financial support and for teaching me that the impact of BOA resonates for generations. To Marty Albertson and Guitar Center, thank you for your final week challenge. To the Feldstein family, thank you for providing the last $30,000 gift. I am fortunate to have a board of directors that is committed, patient and generous; thank you Music for All Board of Directors. Finally, to the educators that are at the heart of all that we represent. If not for your leadership and commitment, there would not be a reason for us to exist. Please continue to visit the campaign website for updates on Music for All's progression to organizational solvency. In the mean time, perhaps we will see you at the upcoming Music for All National Festival or Summer Symposium 2009. Either way, let's celebrate this victory! Gratefully, Scott McCormick L. Scott McCormick President and CEO" Quote Link to comment Share on other sites More sharing options...
Xenon Posted March 7, 2009 Report Share Posted March 7, 2009 Very true, they had some financial problems earlier this year that was threatening BOA. Although I don't think they were in danger of being bankrupt. If worst came to worst, I think they would have just cut some regionals, and take away some bells and whistles. They were in fact going to have to close their doors if they didn't come close to the $250,000 mark. Scott McCormick (MFA's CEO) said that was a definite possibility during one of the CEO Chats. Also, all of the regionals are currently money makers, not losers, so it wouldn't make any sense to cut them since they are one of the few good sources of revenue. MFA has cut back on expenses in other places including cutting most of their salaries by 10-20%. Quote Link to comment Share on other sites More sharing options...
rpd Posted March 8, 2009 Report Share Posted March 8, 2009 (edited) They were in fact going to have to close their doors if they didn't come close to the $250,000 mark. Scott McCormick (MFA's CEO) said that was a definite possibility during one of the CEO Chats. Also, all of the regionals are currently money makers, not losers, so it wouldn't make any sense to cut them since they are one of the few good sources of revenue. MFA has cut back on expenses in other places including cutting most of their salaries by 10-20%. Wow, I was not aware of the severity of the problem. I know all the regionals make money, however I figured they would still put in whatever money they had into the initial cost to run some of the regionals, then profit later and hope for the economy to pick back up. I can't imagine how boring of a season it would be for 5A bands without UIL State and BOA. Edited March 8, 2009 by rpd Quote Link to comment Share on other sites More sharing options...
NittieGreen Posted March 9, 2009 Author Report Share Posted March 9, 2009 We were going to give them 11 dollars after recieving 11th place 4 times in 5 years. Quote Link to comment Share on other sites More sharing options...
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