Central Park Faces $10M Deficit For First Time In Its History

Upper West Side NY

12 February, 2021

12:58 PM

Description

CENTRAL PARK, NY — For the first time in its 40 year history, the Central Park Conservancy is facing a financial deficit due to the ramifications of the coronavirus pandemic. The Conservancy is projecting a $10 million budget shortfall over the next two years. In response to the looming deficit, the Conservancy has launched the Essential Central Park Fund to raise money for the beloved Manhattan park. The Conservancy is matching all donations sent to the fund. "At a critical time in our history, this matching gift is a fantastic opportunity to make your donation go further," said Abigail Healy, the Vice President for Development at the Conservancy, in a news release. "Now more than ever, it's critical that we keep Central Park healthy." The Central Park Conservancy is charged with tending to the "largest and smallest" details of the park's maintenance and restoration. It is funded primarily by individual donations, which have dwindled during the coronavirus pandemic. The pandemic also canceled multiple major moneymaking events for the park in 2020, including The New York City Marathon, Global Citizen Festival, and Central Park Summer Stage. You can learn more about the Conservancy on its website.