The festival told supporters in a recent letter that Musicorda is "not financially sustainable.... The only responsible course of action is to shut down." Festival president Mary Franks said, however, that a final decision had not yet been made.
Musicorda was founded in 1987 by Leopold Teraspulsky and Jacqueline Melnick and takes place on the campus of Mount Holyoke College. Teraspulsky served as artistic director until 2004, when he retired and was replaced by violinist Rachel Barton Pine, an alumna of the program.
According to the Republican, the festival does not have an endowment. As a result, officials have had to raise the entire budget of $300,000 to $400,000 each year.