December 4, 2003
22ND ANNUAL TERRIFVIC JAZZ PARTY CANCELLED
The Board of Directors for the TerrifVic Jazz Party Society today announced the cancellation of the 2004 TerrifVic Jazz Party event, due to a revenue shortfall from the 2003 event and a lack of major corporate sponsors.
The revenue shortfall from the 2003 Jazz Party was caused largely by an unexpected decrease in attendance from the United States due to a general downturn in American travel after the outbreak of the U.S. war with Iraq. The Society’s Board of Directors also expressed concern over the lack of major sponsors to support the staging of the 2004 Jazz Party festival.
In making this announcement, Society President Lorne Whyte stated, “The society has arrived at this difficult decision after exhausting all possible options to secure a new major sponsor for 2004. We cannot risk creating a bigger deficit for the Society or a greater financial burden for our suppliers.”
At the Society’s Annual General Meeting on December 1st, the Board reported a $70,000 drop in revenues in 2003 which leaves an accumulated deficit of $42,563. The Board and twenty-five Jazz Party Committee Chairs in attendance approved the 2003 year end statement to July 31, 2003.
The 16 jazz bands who participated in the 2003 Jazz Party were paid in full during the festival and suppliers received 70% of the monies owed to them on a pro rata basis on May 23, 2003. The Society is in the process of making a final payment for a further 10% of the monies owed to its suppliers.
“Regretfully, suppliers will not receive full payment but will receive approximately 80% of the amount owing to them,” stated Whyte. “Members of the society executive who contributed working capital to the event also will sustain a financial loss.”
Whyte pointed out that the TerrifVic Jazz Party has been a major event for the Greater Victoria community since its inception in 1982. “Each April, the TerrifVic Jazz Party drew thousands of visitors to Greater Victoria who have spent more than $50 million dollars in the local economy over the past 21 years.”
Local students will also feel the loss of the event. In addition to staging the annual festival, including a free Kids Party and outdoor community concert, the TerrifVic Jazz Party Society established programs with local schools. This school programming provided Greater Victoria students with a keen appreciation for the jazz music genre as well as training from jazz professionals from around the globe.
On behalf of the Board, Whyte paid tribute to all those responsible for the success of the Terrifvic Jazz Party over the past 21 years: “To all of our volunteers, patrons, suppliers and sponsors, our sincerest and most heartfelt
For more information:
Terrifvic Jazz Party Society
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Updated 6 Dec 2003 on an Island in the Pacific You are the person to access our new page. Copy used here has been provided by Sales Service Ltd to the TerrifVic Jazz Party, a Non-Profit Society and is used solely for the purpose of advertising the 22nd Annual Festival. This page has been provided to them free of charge and will continue to be up-dated on a regular basis. If you have comments about this page, why not send me Email? An adult beverage would also be appreciated! Just ask for Doc!!
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