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Alberta Theatre Projects, a 45-year-old arts institution in Calgary, says it needs to raise $200,000 in two months to continue operating beyond 2018.

A desperate plea was put out Wednesday afternoon by the organization, a not-for-profit theatre company founded in 1972 and focuses on new Canadian theatrical works.

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The economic downturn has led to a 77 per cent drop in corporate sponsorship, ATP executive director Vicki Stroich said in a news release.

“Our 2017-18 season will be going ahead as planned, but looking beyond next season has become extremely difficult given our financial situation,” Stroich said.

She was not available Wednesday to speak to Postmedia.

The organization has launched its “urgent” fundraising campaign that encourages supporters to donate through a mobile campaign. The Calgary Foundation has given the company a one-time grant of $200,000, but the company will need to raise another $200,000 from the public by May 1 to meet its $400,000 goal.