Correction: This version has been changed to correct the current number of employees at Poplar Grove Plantation.

Financial troubles at Poplar Grove Plantation, a longtime Pender County landmark off U.S. 17, have led director Caroline Lewis to describe the historic site as a “sinking ship.”

Poplar Grove Foundation, the organization that operates and helps keep the 220-year-old site open to the public, has been losing money since 2010, with current monthly losses reaching $20,000. As a result, the former peanut plantation that now operates as a museum, location of a weekly farmers market and host of annual events, faces a sad possibility, Lewis said.

“We are contemplating closing by Jan. 1, 2016,” Lewis said Wednesday.

Opened for visitors in 1980, Poplar Grove had stayed afloat for the most part because of a large yearly donation, to the tune of $350,000 or more, made by the property’s former owner, Jan Lewis, the current director’s stepmother. Jan Lewis, who recently transferred ownership of the more than 15-acre site to PG Holdings LLC, had to begin a five-year phase out of that donation in 2010, Caroline Lewis said.

Another reason for the shortfall, the director said, is that many visitors think of the site as a place they can enter for free because there’s no ticket office at the entrance, when in reality Poplar Grove has had an admission fee of $7 for several years. She said the staff had planned to start gating the property for Memorial Day weekend, but “we’re just sort of rolling this out softly because the community push-back is severe.”

Fees to tour the site’s Manor House, ranging from $6 for students to $12 for adults, plus farmers market vendor fees, the funds raised from an annual Kentucky Derby party, a Halloween Festival held each year and charges for weddings and corporate events are not enough to cover costs, Lewis said. The largest expenses for 2014 were a nearly $339,000 payroll for the site’s 16 full- and part-time employees, more than $37,000 in insurance costs and more than $25,000 for utilities, she said.

But Lewis also said she remains optimistic, despite an expense-to-income shortfall she characterized as unsustainable. That’s because of recent efforts to raise money, including enforcing the admission fee to the grounds; offering yearly memberships at $25 for students, $50 for individuals and other types up to a lifetime membership of $1,000; and seeking corporate and community organization sponsorships.

Other possibilites for financial help exist. In January, the IRS approved a change in status for the site’s foundation from a 501(c)3 privately operated foundation to a 501(c)3 charity because of the reduction in the annual contribution from the former owner. The change allows the foundation to apply for grants, Lewis said.

Tammy Proctor, executive director of the Greater Topsail Area Chamber of Commerce and Tourism, said Poplar Grove is important to the county’s tourism industry because of its historical value.

“Poplar Grove was voted last June as one of the top 10 best plantations to visit and it has a rich cultural history. They bring a lot of culture to the area as well as providing tours for visitors,” Proctor said. “If it closed tomorrow, it would be a void for our visitors because it just offers so much ... it would be a huge loss.”

That history goes back a long way. In 1795, James Foy Jr. bought 628 acres of land known as Poplar Grove, and in 1838, ownership passed to his son, Joseph, according to the landmark’s website. After a fire destroyed the homestead, Joseph Foy chose the current location to rebuild. The Foy family, who were slave owners, found financial success in growing peanuts, the website says. Jan Lewis bought the property in the early 1970s.

These days, the site’s future is uncertain, and another part of the problem, Caroline Lewis said, is public perception.

“It’s only through one-on-one dialogue that I’ve been able to persuade people to recognize that if you enjoy this place, commit to this place,” she said. “Help us pay for the toilet paper, the trash bags, picking up the litter, the water, the utilities. If the public wants to use the property, they have to show their support with a financial contribution.”