This year’s Folk Festival will likely be the last, the Newfoundland and Labrador Folk Arts Society announced on Facebook Monday.

The organization says despite strong community support and successful fundraising efforts, it has lost a crucial piece of core funding–support that was essential to sustaining year-round operations.

“This was not the outcome we had envisioned,” board president Julie Vogt said in a statement. “We had bold plans for a 50th Annual NL Folk Festival that would blow the roof off this province over five days. But we simply can’t do it alone, and we cannot continue to ask our staff and volunteers to carry the full weight of this work without the resources to support them

The society said the loss of this funding means it can no longer pay staff and office expenses post Festival, or to deliver a high-calibre festival experience that attracts audiences, supports local business, and contributes to the province’s cultural and tourism economy.

This year’s festival will go ahead as planned as a celebration.

“The society invites audiences to come together one final time in Bannerman Park to have a time, and to honour the legacy of the festival, and the artists, staff, volunteers, sponsors, and donors who have made it all possible.”