CKUA meets fundraising goal of $3 million

CKUA Radio has raised the $3 million needed to keep the community-funded station on the air.

Since April, it has raised a total of $3.5 million, including $1 million in a do-or-die fall campaign, CEO Mark Carnes announced Thursday.

“Everyone at CKUA is full of gratitude. We would like to thank our remarkable community of donors. These funds will enable CKUA to continue to operate and entertain and inspire a growing community of listeners in Alberta, Canada and the world,” he said in a statement.

Financial pressures on the 96-year-old broadcaster include repayment of a $6 million loan on the Alberta Hotel building, a loss of tenants during the pandemic, inflation and limited government funding.

In addition to asking for the public’s help, CKUA has found “efficiencies” in its capital costs, negotiated with its lender to defer payments, and made other cuts.

A spokesperson said Thursday that the station will continue to raise funds to sustain its operations, both through public initiatives such as its semi-annual on-air fundraiser and directly from donors and corporations.

“We’re not where we need to be yet, but we’re cautiously optimistic that we can get there,” Carnes said.