Teen Times depends solely on financial sponsorship to host its events. The proceeds from the events funds the subsequent prizes. However, when sponsorship is non-existent, proceeds go to paying the various entities that provided a service to Teen Times in order to have the event in the first place. Talent Showdown carries a budget of approximately US $30,000.
In almost 15 years of operation, Teen Times has never been faced with such a situation. "We appreciate our long time sponsors. When they tell us honestly that the economic situation prevents them from contributing, we know it must be really serious. These are not companies that would brush us off, they gave us detailed explanations of their financial situations and we understood their position," Coordinator of Teen Times Michael Granger said.
The situation is such, he said, that winners are still waiting on prizes. "This is not something we are running from or ashamed to admit. The funds and sponsorship simply are not there at the moment. This does not mean we will renege on our responsibility and pledge. We are working deligently to award our winners what is due to them. But this is the reality of our economic situation. Raising money these days is like pulling honey from stone. We can't sugarcoat it, it is what it is," Granger said.
He went on to add that the organization's two major events "Prom Night" and "Talent Showdown" will happen this year, but will be scaled back. "We will have our events and we will try to add some new and exciting aspects to each, but our budget will be cut by more than half for each event. We have no choice but we still expect to host quality, positive, clean, fun events for our young people. We will not compromise on quality," he said.
Teen Times has taken 145 young people to New York in 6 years on educational and performing trips, the first organization to do this on St. Maarten. The organization has also opened savings accounts with US $1000 on each account for 25 winners of its talent shows in the past. In total, Teen Times has given back almost US $145,000 to its winners in 6 years with the organization holding true to its principles of non-profit.