The American Boychoir School has raised enough money to plan the coming school year, but students will board with local families instead of on campus. And the famed choral academy, which filed for bankruptcy in April, is pursuing a lease for a day school campus in the Princeton area instead of remaining at its current location in Plainsboro.

“Our traditional boarding model would be converted to a homestay model for this school year, with boys living in local homes — at least two ABS boys in each homestay home,” Rob D’Avanzo, Chairman of the Board of Trustees, wrote in an update to supporters of the school on Thursday. “We have engaged a homestay consultant and have been working with him to learn about and implement this new feature of our School. He will work with us throughout the coming school year to coordinate and supervise the entire program. We have also been in touch with various families that have offered to serve the School as homestay hosts.”

Mr. D’Avanzo said he is confident that a day school location will be secured in the coming weeks. But the change is not anticipated to be permanent.

 “The Board believes that the best operating model to achieve ABS’s mission is one in which we include boys from around the world on one fully-integrated boarding campus,” he wrote. “At this time, however, we do not have an integrated campus option readily available to us, and we simply do not have the funds to acquire or operate one. Over the next year, we intend to work to raise those funds and to find a long-term boarding home, but in the interim we plan to operate ABS on a day school campus suing a homestay model.”

The Board voted unanimously earlier this week to pursue the day school option. The past school year was finished early, but the school fulfilled the touring and performance commitments it had made. Founded in 1937 in Columbus, Ohio and relocated to Princeton in 1950, the School’s choirs have performed with major orchestras and conductors across the globe.

An emergency fundraising campaign with a $350,000 goal was launched to save the school after bankruptcy filing was announced this spring, and the figure was exceeded, providing “a bit of a cushion,” Mr. D’Avanzo wrote. “I have told you that we need to raise a very substantial amount of money in advance of the school year in order to be on a sound footing when school opens, and that remains the case.”

 More than $235,000 in pledges has been received for next year’s Annual Fund, representing more than 26 percent of the school’s budgeted Annual Fund income. “This is a great head start, and the more pledges of operating support we receive now, the better-positioned we will be to achieve our reorganization,” he wrote.

ABS is going forward with plans for its annual “American Boychoir Experience” summer camp, with 23 boys signed up as well as some current students. They are scheduled to perform in August at the Tanglewood Music Festival in the Berkshires, with the Tanglewood Music Center Orchestra.

“We think an exciting future is within reach,” Mr. D’Avanzo wrote. “I must caution you, however, that we are still operating under the supervision of the Federal Bankruptcy Court, and we will be subject to court oversight until ABS completes a reorganization under Chapter 11. We will be working throughout the summer on myriad tasks necessary to prepare for a new year in a new place with a new model, including seeking court approval for our reorganization based on a solid long-term financial plan.”