Financial problems surfaced after the hall moved into the Art Deco-style Union Depot in 2007. Voters had set aside money under the Vision 2025 capital improvement campaign to buy and refurbish the former train station.
This spring, the organization’s nearly $4,000 check to cover a half-year’s insurance on the building bounced.
Its past tax documents are littered with red ink. Between Oct. 1, 2009 and Sept. 30, 2010, the organization reported revenue of $354,429 and expenses of $449,714 _ a deficit topping $95,000. The next fiscal year, the center made around $31,000.
The organization recently put on a jazz benefit concert and is scrambling to find other ways of generating revenue. Jason McIntosh, the hall of fame’s chief executive officer, admits to the past troubles.
“Mistakes have been made, but we’re stronger for it,” said McIntosh, whose goal is to increase membership from 300 to 1,000. Memberships cost $100 a year, and give donors discounts on concerts and merchandise as well as early warnings about exhibits and events.
Kos remained confident the nonprofit will pay off what it owes next month.
“We’re not going to fold up our tent and go away,” he said.
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