Financial impact of cancelling 2020 Festival
2 minutes minute read
At the beginning of April we announced that, due to the current COVID-19 pandemic, we had made the decision to cancel the 2020 Festival.
We contacted everyone who had already made a booking to give them three options: transfer tickets to next year; claim a refund; or donate some or all of the booking. We gave the deadline of 1st June to make a decision, otherwise, all remaining tickets would automatically transfer to next year's Festival.
In parallel, we've continued to work on reducing costs incurred against the 2020 Festival and to get clarity on our current financial position. As a result, we are now able to report back where we currently stand.
We have transferred £121,567 of tickets to next year's Festival. This has gone a long way to helping us with our current cash position, so thank you if you were able to do this. Tickets to the amount of £120,869 have now been refunded. In addition, we have received £28,385 in donations (donated tickets and gifts) to help us towards the overall deficit of the 2020 Festival. A huge thank you to everyone who has given.
Factoring in the donations that we've received, we are left with an overall loss of £133,000 against the 2020 Festival. This amount is being carried by a single local church, Emmanuel in Brighton, who have supported the Festival over recent years.
The financial impact of having to cancel the 2020 Festival is significant and we are therefore asking for donations towards reducing this deficit to ensure Newday is in the strongest possible position going forward, and to minimise as much as possible the impact on a single local church.
Please consider whether you or your church are able to stand with us at this time and help financially. You can give online by clicking the link below.
We are mindful that for some of us this current season will have brought financial stresses with possible job insecurity, business losses, or reduced income. We, therefore, appreciate that not everyone will be in a position to give financially at this time. Whether you're able to give or not please pray with us, as together we ask God to provide.
The Newday Team