The Margate School has announced it is at risk of closure due to a funding shortfall of £150,000.
The independent postgraduate school of arts, established in 2018, is facing a financial dead-end after several failed attempts to secure funding.
The set-up of the school and its technical facilities was funded by the Coastal Community Fund, which also financed the support of students, studio holders and the community for a period of two years.
The non-profit school was intended to subsequently generate 50% of its budget independently and secure the other 50% through public funding.
But the lack of anticipated public funding, coupled with the impact of the pandemic and the cost-of-living crisis on the school’s independent income, has resulted in an existential threat.
The school’s Founder and Director, Uwe Derkson, said it operates on “an extremely lean budget,” funnelling any profits into community investment.
The Margate School is the only higher education provider on the Isle of Thanet. Its current community consists of nine members of staff, 25 students, 17 tutors, 12 fellows and 42 studio holders, as well as a team of volunteers.
To ensure its survival, the school needs to raise £150,000 which it is seeking to do via a crowdfunding campaign.
If successful, it will aim to triple the size of its community in the next 10 years by creating additional courses and increasing student numbers, Derksen said. He also pledged that the school would increase its share of independent income and decrease its reliance on public funding.
“The Margate School is a brilliant local creative space that holds a variety of events and caters to a diverse section of society. The sense of community loss is devastating,” said Thanet District Council councillor Rob Yates.
The school attracts over 16,000 visitors to the area annually, thanks to its programme of exhibitions, talks and events.