Apologies for the long silence. As you know, we made the difficult and heartbreaking decision to close camp for the summer. We expect, however, to open as planned in 2021 for a full slate of programs and to welcome parents and visitors to attend concerts.
We will continuously monitor the Covid-19 situation and, as we get closer to opening, will communicate in detail the steps we are taking and the steps we will request of campers, staff, and visitors to keep everyone safe and healthy.
Today, we want to communicate very frankly the financial impact of the closing and what we need to do to remain viable. Last week, we met with the Board to review our finances. Because 80 percent of revenue comes from tuition, we had to make some extremely painful decisions. Most devastating, we could not pay salaries to our talented, loyal, and dedicated faculty and staff. Despite cost-saving measures, the total loss to Kinhaven was about $475,000.
To help mitigate this impact, families generously donated a portion of their tuition payments, Kinhaven received a loan from the Small Business Administration, and the Board agreed to redirect funds that had been set aside for our Concert Hall expansion. As a result, Kinhaven will end its fiscal year with just enough cash reserves to pay its bills through the end of the year.
In short, while Kinhaven had sufficient resilience to survive this shock, it is unlikely we can survive a second shock of this magnitude without significant damage. With this in mind, we are asking for your support with a sense of urgency.
Kinhaven needs to raise $200,000 by the end of December. This will allow us to weather the off-season, when expenses continue but income is low. We know this is an ambitious goal, especially during a difficult economic time. However, we are confident there is a deep reservoir of goodwill toward Kinhaven among alumni, friends, and colleagues, and that if the institution were in danger, people would act. We believe this is such a moment.
We ask that you act now to ensure that students can immerse themselves in the transformative, high-level music making experience Kinhaven offers – next year and for many years to come.
Please donate whatever amount you can to Kinhaven today.
With gratitude and warm regards,
Tony Mazzocchi and Deborah Buck