The New York Musical Festival (NYMF) is ceasing operation after filing for bankruptcy on January 2 in the Southern District of New York. A statement read, “It is with a heavy heart that we face the reality of the arts funding crisis in the United States. It has caught up with NYMF. The Board and donors have been valiantly subsidizing NYMF operations for 15 years, but looking ahead, we do not see a clear path forward.”
Artistic Director West Hyler, Executive Director Scott Pyne and General Manager George Youakim resigned, after having worked on an unpaid basis since September. Hyler, Pyne and Youakim had been to resign from their positions but stay on as volunteers. NYMF had also moved out of its midtown office earlier this year to reduce expenses. Additionally, the NYMF has not yet paid out owed ticket sales from 2019. contractually, festival participants are owed a percentage of the ticket sales after submitting final receipts for productions, which took place between July and August 2019. NYMF had guaranteed a base package, which included some amenities such as sound, lights and venue, with the shows contributing the rest.
Vendors, creditors and staff members who are owed money are now obliged to follow legal procedures relevant to bankruptcies.
The festival, begun in 2004, featured staged productions, readings and concerts of musicals in development. It was the birthplace of notable musicals including developmental productions of “Next to Normal,” “In Transit,” “[title of show]” and “Emojiland.”
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