Participants take part in a mass yoga class to mark the summer solstice in Times Square in New York. ©AFP PHOTO/Emmanuel Dunand

(Relaxnews) – GLBL Yoga’s organizers officially announced that the event, which had been planned for August 16, has been canceled due to lack of funding.

GLBL Yoga was an attempt to host the “world’s largest yoga class” on Central Park’s great lawn and had the influential backing of yogi celebs like Elena Brower and Rodney Yee.

“But the organizers, Flavorpill’s Sascha Lewis and Rob Holzer, were criticized for their crowd-sourced approach to funding it from the get go, and in the end, they weren’t able to convince New York yogis to open their wallets wide enough,” writes blogger Well+Good NYC.

As a result, the organization’s fundraising efforts fell far below its goals: just $14,371 out of the $675,000 goal. Donors will receive refunds.

The event launched in 2010, with reportedly some 15,000 attendees, but it was rained out after just a few sun salutations. While the class wasn’t organized in 2011, Lewis and Holzer promise to try again next year. “We’re going to take some time to rethink our strategy and model, and we will return with renewed purpose in the summer of 2013,” they wrote.

But the event has plenty of competition from Mind Over Madness, the all-day free yoga event held on New York City’s Times Square in June. Sponsored by Lucy Activewear and held at Broadway between 42nd and 47th Streets, the event happens every year to mark the summer solstice. Along with a series of free classes, the event features musical performances, speakers, raffles, and free giveaways.