It is estimated 30 people in Mansfield Woodhouse are still collectively owned the sum after they gave cash to help stage 'Heaven on Earth'.
Some leaders from the village's International Church created Eden International Productions Limited to stage the production.
But the musical ran out of money after accumulating debts of £2.6 million. The show went bust in late 2017, just weeks before the first performance was due to take place.
Yessika Oakley, 34, said her family contributed thousands of pounds towards the project.
She told the BBC: "They weren't asking for £5, they were asking for large amounts of money from people that didn't have much.
"But because they did it in the name of God, they were put under the pressure that if you didn't give, you're not being faithful and God isn't going to be very happy with you."
Information kept by the Government's registrar of companies confirm the production company is undergoing "liquidation".
A six-month tour of 'Heaven on Earth' had been scheduled - with venues including the Wembley Arena in London.
Singer, Russell Watson was among those who had agreed to take part, along with a 30-strong cast.
The International Church has since closed.
One of the musical's directors told the BBC they were sorry for everyone who had lost out but insisted it "was always stressed there was no pressure on anybody" to give.
More information can be found by watching BBC Inside Out East Midlands at 7.30pm on Monday on BBC One.
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