Three Rivers Festival Turns To Crowdfunding To Avoid Bankruptcy
News Release
FORT WAYNE — The Three Rivers Festival has turned to crowdfunding amidst financial woes with a goal to raise $450,000.
The festival must raise $300,000 by Monday, Feb. 10, imminently to avoid bankruptcy. To move forward, an extra $150,000 is needed to begin planning for the 2025 festival and ensure its success.
The Three Rivers Festival, a beloved Fort Wayne tradition for over 50 years, is at a turning point. Financial challenges have placed the festival at risk.
Festival organizers state they have been working tirelessly on a new plan that will allow the festival to continue in a more sustainable format, preserving many fan-favorite events while ensuring long-term stability.
On the crowdfunding website, festival organizers provide their plan to achieve financial sustainability.
- Elimination of Payroll Expenses: The festival will now be fully volunteer-run to reduce overhead costs.
- Elimination of Office Rental Expenses: Transitioning to a remote/virtual administrative model cuts significant operational costs.
- Decrease in Marketing Expenditures: Streamlined efforts focus on digital outreach and community partnerships.
- Entertainment Expenses Aligned to Break-Even: Talent bookings will match anticipated revenues, ensuring no cost overruns.
- Decrease in Professional Expenses (Electricians, Promoters and others): Strategically planned setups and scheduling will reduce service costs.
These measures place the festival on a path toward financial stability, ensuring a well-rounded event while avoiding the crippling financial burdens of the past.
In keeping with the festival’s commitment to serving the Fort Wayne community, the Board of Directors is inviting residents to take an active role in shaping the Three Rivers Festival.
By eliminating paid staff positions, the festival becomes a grassroots effort fueled by passionate volunteers. These volunteer teams will plan, coordinate and execute events that truly reflect the spirit of Fort Wayne and Northeast Indiana.
According to the statement, “This campaign being launched to allow community members to directly invest in the future of the festival. Every donation, no matter the size, will contribute to sustaining the festival for generations to come.”
View their full statement and/or donate here.