The Harlem School of the Arts has been closed since Friday, but there's high hope that the community institution will reopen soon.
The school is not closed for good, according to interim Executive Director John Corwin -- but the faculty and staff have been placed on furlough for the week. The board of directors meets on Wednesday to decide whether it's feasible to re-open. Corwin says a number of factors contributed to the school's financial problems.
"You could call it a perfect storm, the combination of the fact that over the last couple years our donors have been hit and our families who pay tuition have been hit," he says
The school needs an infusion of $500,000 to stay afloat through June.