UPDATE 12/12/2013: Air Race officials announced Thursday they are within $50,000 of their goal and the event will go on in 2014 as scheduled.
UPDATE: Air Race officials Tuesday announced people who want to donate to keep the event healthy can do so on the Air Race website, the link to which is next to this article.
RENO, NV - The Reno Air Racing Association is having financial problems and is making some changes before next year. Organizers say they are faced with a set of significant challenges posed in the wake of a third year of financial losses, and as a not-for-profit organization, they are implementing furloughs and wage and benefit reductions on all RARA staff. Some positions are also being eliminated.
President Mike Houghton says the organization must raise $500,000 by December 15 of this year to cover such things as an insurance premium. He says the money must be in commitments, funds and debt reduction, though there's already progress in raising the money.
Houghton says he's looking for the public's help and is organizing a fundraising campaign, details of which will be released before Thanksgiving on the Air Races website.
Houghton says existing reserved and box seat holders are ordering their 2014 tickets and General Admission, unreserved boxes and seats will be available to the public on March 1, 2014.