Air Races to Go On Despite Not Meeting Fundraising Goal - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Air Races to Go On Despite Not Meeting Fundraising Goal

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The National Championship Air Races show will go on as scheduled next September, despite not yet meeting its current $500,000 fundraising goal. 

On Thursday, Reno Air Races president Mike Houghton announced the event hadn't yet reached its $500,000 goal "but we are close and moving forward to 2014." The Reno-Sparks Convention and Visitors Authority gave $100,000.

Last month, Houghton told us prior to the crash of 2011, their insurance premium was $300,000. The following year, it ballooned to about $2 million - and is still more than $1 million going into next year.

After paying for those soaring premiums, Houghton said cash was low. "We've tried and operated on our own. We've operated on everything we've generated from our event as well as living on the cash we had. We've lost money three years in a row, so here we are, we're back saying guys we need a small push to help us get into 2014 to keep this great event alive."

At the time Houghton said they eliminated one position, temporarily suspended another and all Reno Air Racing Association employees were facing a furlough. About $500,000 is what Houghton said the association needed to put on a show next summer.

In addition to new and increased sponsorships as well as debt reduction, online contributions will be accepted. To donate, visit www.crowdtilt.com/campaigns/i-love-the-air-races or simply visit www.airrace.org.

Next year's races are scheduled for September 10-14, 2014.

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