With less than a week left in the school’s shortened year, the American Boychoir School has exceeded its goal of raising $350,000 to keep the school open until the end of the school year.
School supporters were informed via an email this morning that the school has raised $359,096. About $90,075 of the amount is pledges.
“The $30,000 challenge grant succeeded in closing the final gap, so ABS will have the necessary resources to complete this school year,” reads the email from Rob D’Avanzo, chairman of the school’s board of trustees.
Because of the school’s financial woes, the academic year was cut short. Normally the school year ends in mid-June, but it will end this Sunday, May 17, with a 2 p.m. graduation ceremony at the school.
“Thank you for your part in making these events a reality. Please join with us as we celebrate our student choristers, our new graduates, our alumni, and the artistry of the American Boychoir,” reads the letter. “As we proceed, our singular focus will turn toward determining what will come next for the American Boychoir School. Opportunities for the institution abound, although considerable funds will be needed to build a plan going forward. We thank you again for your generosity through this phase of the campaign, and we hope that we can count on your help in keeping this exceptional mission a reality.”
It remains unclear how the school will continue to operate after this academic year. The school has filed for bankruptcy and sent out numerous appeals in order to finish this academic year in the black. According to tax returns, the school needs $2.5 million for operating expenses each year. Over the last few years, the school has addressed the financial problems by holding emergency fundraising campaigns. School representatives so far have not put forth a plan to raise the needed funds for next year or make the school sustainable financially for the long term.