WaterFire’s Financial Struggles: A Call for Support to Keep the Flames Burning
The Challenge Ahead
In Rhode Island, a beloved community beacon is flickering. WaterFire, an iconic art installation and cultural event, is grappling with a fragile financial state. This year, the organization is on the lookout for wealthy donors and appealing for increased support from taxpayers to sustain its operations and vision.
A Strained Financial Picture
As reported by NBC 10, WaterFire’s financial situation has become increasingly urgent. Despite attracting visitors for nearly 30 years, the organization’s funding sources are drying up.
"WaterFire is the kind of thing that makes this a special city," says interim Executive Director Mark Allan. However, he candidly admits, “Right now, I would be pretending if I didn’t say we are in a fragile state.”
Limited Programming for 2023
This season, WaterFire has only six full lightings planned, a number that falls below its usual tally. Allan states, “For this year, we’re doing what’s realistic. But for the future, I think it should be 10, probably 12 a year.” Yet, achieving that vision requires substantial resources.
Understanding the Costs
What many might overlook is the sheer logistical effort involved in orchestrating a full lighting of WaterFire, which can cost between $80,000 and $100,000 per event. Allan details, “We put fire on the river and it’s a huge logistic task. Upkeep is massive. We have six people who just keep the equipment.”
Alarmingly, corporate donations—a major source of income—have seen a decline for the past decade, leading to a loss of nearly $1 million in 2023. “This has left the organization in an almost fragile position financially,” Allan added.
Budgetary Concerns
Further complicating the financial landscape, the last publicly available IRS tax forms from 2022 indicate a 40% increase in salaries. The top leadership now earns between $115,000 and $125,000. When asked about potential budget cuts, Allan asserted, “We’re about down to the bare. We haven’t kept up the equipment as well as we should.”
While the WaterFire Arts Center, which opened eight years ago, has some financial strain, Allan emphasizes that the structure itself is entirely paid for via grants and donations, serving as a vital community hub for free exhibits and events.
The Road Ahead: Seeking Community Support
So, how does WaterFire plan to emerge from this financial quagmire? Allan’s strategy focuses on courting wealthy individuals for substantial donations.
“We haven’t in any organized way looked for major donations, and that’s our new focus moving forward," he insists.
The goal is to outline a vision that excites potential contributors. “It needs also to be fresh and exciting,” Allan notes, hinting at a desire for input from WaterFire creator Barnaby Evans to innovate and revitalize the event’s offerings.
Government Support on the Horizon
Additionally, WaterFire is seeking more financial aid from the state, with requests ranging from $400,000 to $750,000. The budget proposed by Providence Mayor Brett Smiley aims to double the city’s contribution from $50,000 to $100,000. WaterFire contends that it serves as a significant economic driver, generating upwards of $15 million annually in tax revenue and filling regional hotels.
Conclusion: A Vision for the Future
For WaterFire to continue illuminating the hearts and minds of residents and tourists alike, it needs a united front from both philanthropic individuals and governmental support. As Allan emphasizes, “When we talk to donors, it’s not about ‘can you help us limp along’, it’s about envisioning the future. It’s time to keep the fires burning bright for years to come.
If you’re inspired to help or want to learn more, consider reaching out to WaterFire’s organization directly or visiting their website to contribute to a cause that embodies the spirit of Providence.
Learn more about WaterFire’s impact on Rhode Island’s economy.
