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The organization said they did not have the money to put on the two-day festival, having to pay for the restoration of the sloop Clearwater. The Coast Guard mandated it cannot sail until the restoration is completed.
"We are under a very severe financial bind," Erin Macchiaroli, media relations for Clearwater said. "We were unable to do both. The boat is what Clearwater is all about. We need to do everything to get that boat sailing."
Macchiaroli said it was a "heartbreakingly difficult" decision to make but that Clearwater will be doing concerts throughout the year.
"We've received a lot of support from longtime members," Macchiaroli said. "People are calling to renew their memberships or make donations."
The sloop is the environmental flagship of the Hudson River, Macchiaroli said.
"It's been the inspiration for people to get out and experience the Hudson," Macchiaroli said. "If you love the river, you go out sailing and realize that you want to protect it."
Macchiaroli said they are planning to put on the festival in 2017. The festival was founded by Pete and Toshi Seeger.
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