The New York City Opera needs $7 million in fundraising by Monday or it could be closing its curtains for good. On top of that money, the opera company wants to raise an additional $13 million by the end of 2013 towards future seasons, according to a press release. If we do n't raise the -LRB- $7 million -RRB- by the end of Monday the board is going to begin the process of bankruptcy, spokesperson Risa Heller told CNN on Friday. The company started a campaign to raise $1 million of that $7 million through an online fundraising site -- Kickstarter.com -- that will end September 30. As of Friday the online campaign had raised only $202,223 donated from more than a thousand supporters. The organization raised $1.5 million outside of Kickstarter campaign, according to Heller. The odds have been against us for a long time, George Steel, general manager & artistic director for the company, said in an online video, but in the face of that difficulty we have made tremendous progress. The company, dubbed The People's Opera by former NYC Mayor Fiorello LaGuardia, was founded on the principle that every New Yorker should be able to afford to go to the opera, Steel said. Steel explains that in order for the company to break even, it would need to sell every ticket for $600, but instead the starting ticket price is actually $25 to make it more affordable. The New York City Opera