A nonprofit foundation that raises money for projects in Yellowstone National Park has about $4.35 million in debt.
John Walda, interim CEO of Yellowstone Forever, told the Bozeman Daily Chronicle the organization made faulty revenue projections when it was formed by combining the Yellowstone Association and the Yellowstone Park Foundation in 2016. Yellowstone Forever invested in staff, buildings and technology based on the inaccurate projections.
Yellowstone Forever has provided $18 million to the park for projects but will reduce its cash support and hold some jobs open as it works to get back on better financial footing.
There have been layoffs and several employees have resigned, including CEO Heather White last month.
Yellowstone Superintendent Cam Sholly says park officials will work with Yellowstone Forever to prioritize projects while the organization improves its financial picture.