Just in from the organizers of our iconic celebration:

The Board of Directors of First Night Boston announced today that the agency does not currently have the funds to continue planning First Night Boston 2014, which should take place on December 31, 2013. The board of directors voted to cease operations for the private non-profit organization that was founded in 1976 and has produced 37 First Night festivals. First Night Boston 2014 would have been the 38th edition of the event.

The Board cites declining foundation and sponsorship dollars as the main reason First Night would not be able to raise the funds necessary to produce this year’s event. First Night will lay off staff and close its offices on June 30, 2013. This will mean the loss of three full-time positions, one part-time position, six year-round contractor positions and various seasonal contract festival production positions. First Night does have a small reserve, and will be able to pay its bills before closing its doors.

The Board of First Night hopes to transfer the First Night Boston trademark to the City of Boston. The Board, recognizing that First Night is one of the City’s signature events, plans to work with the City to identify an organization that can assume the First Night brand and eventually produce an event containing at least some of the elements of a First Night celebration.