Shuttered for much of the year by the COVID pandemic, the Tivoli Foundation will be down to its last $325,000 by the end of this month, Executive Director Nick Wilkinson said.
He spoke to the City Council in behalf of a city plan to use $225,000 of $2.5 million in COVID funds for the foundation.
Mr. Wilkinson said the foundation, which operates both the Tivoli Theatre and Memorial Auditorium, has cut costs by $60,000 per month since the shows stopped in March.
He said seven full-time staff members were furloughed, and he and others who remained took salary cuts.
Mr. Wilkinson said, "We estimate we have lost over $8.5 million in revenue."
He said the Tivoli recently shut down again after beginning to show some classic movies, and he said no shows are on the books through next May.
He told the City Council, "We were lean and mean. Unfortunately, now we're leaner and meaner."
He said about $900,000 was pulled from foundation reserves for building and maintenance needs.
With current expenses at $75,000 per month, he said, "Do the math. We're going to run out of money."
Mr. Wilkinson said before the foundation was established the city was spending $1.5 million a year on the venues.
Paula Wilkes of the Bessie Smith Cultural Center said that facility on MLK Boulevard has lost $226,000 and reduced full-time positions to 3.5.
Her group hopes to get $40,000 in COVID funds.