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YBCA Cuts a Third of its Staff - SF Weekly
The Yerba Buena Center for the Arts yesterday that it is eliminating 27 staff positions, over a third of its total staff, due to the significant financial impact caused by the coronavirus shutdown.For the past three months, YBCA’s payroll expenses have been supported by a $1.5 million Paycheck Protection Program loan. Those funds have now run out.The YBCA saw a $3.5 million decrease in gross revenue in the 2019–20 fiscal year. In addition, for the 2020–21 fiscal year, the YBCA is projecting a loss of $6.8 million in gross revenue from its rental program, annual fundraisers and anticipated...…The Yerba Buena Center for the Arts yesterday that it is eliminating 27 staff positions, over a third of its total staff, due to the significant financial impact caused by the coronavirus shutdown.For the past three months, YBCA’s payroll expenses have been supported by a $1.5 million Paycheck Protection Program loan. Those funds have now run out.The YBCA saw a $3.5 million decrease in gross revenue in the 2019–20 fiscal year. In addition, for the 2020–21 fiscal year, the YBCA is projecting a loss of $6.8 million in gross revenue from its rental program, annual fundraisers and anticipated...WW…
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