"In early summer, the company's new executive director, Edward Barnes, uncovered a significant deficit that was not previously disclosed to the board," said Beatrice Broadwater, president of the Board of Directors of Gotham Chamber Opera, in a statement.

"We do not have, nor do we anticipate having, sufficient donations and pledges that would enable continued operations of the company," she added.

"I am proud to have founded Gotham Chamber Opera," said artistic director Neal Goren. "The company's fifteen year lifespan has been an extraordinary run, and we have been fortunate to be a part of New York City's cultural landscape. We are grateful to all of our generous donors, collaborators and attendees, and thank them for their support."

Goren founded GCO in 2001 with the American premiere of Mozart’s Il sogno di Scipione. It established itself as a leading opera company dedicated to fully staged productions in intimate venues and went on to partner with New York and national institutions such as Lincoln Center Festival, the American Museum of Natural History and the American Repertory Theater.

The company's future productions have been canceled, and the board will meet to determine the steps in concluding the organization's final affairs. Visit GothamChamberOpera for more information on the company.