Reno Air Races Looks for Help With Fiscal Woes
November 26, 2013 - The Reno Air Racing Association (RARA) announced this week that it needs to raise a half-million dollars by mid-December to ensure the event will go on as scheduled on September 10-14, 2014. In an open letter to race fans dated November 22, RARA President/CEO Mike Houghton writes, "...to address the operational costs of 2014 and beyond, including an oppressive insurance premium, we need to raise $500,000 in commitments, funds and debt reduction by Sunday, Dec. 15 of this year."
Measures already taken to cut expenses include elimination of some staff positions, furloughs and wage and benefit reductions on all RARA staff, and restructuring of the RARA board of directors and bylaws. In addition, details of a new fundraising campaign are said to be out before Thanksgiving, according to RARA.