CLC YMCA financial priorities during leadership transition

Mon, 02/24/2020 - 9:30am

    Despite the current leadership transition underway, Central Lincoln County (CLC) Board and staff team continue to focus on the organization’s financial priorities to ensure long-term sustainability and ability to meet the continued needs of the community. Casey Clark Kelley, interim CEO for CLC YMCA during the transition, states: “Despite being in a state of leadership transition, our team has not missed a beat as we work to keep our strategic goals at the forefront of our everyday work. We have a strong structure in place to make this happen, along with dedicated buy-in.”

    CLC YMCA has three key financial priorities, which include:

    • Paying down a portion of existing debt through operations and fund development.
    • Selling the existing YMCA Child Care building in Nobleboro and adding the Child Care program to the Y's main campus. This step helps not only with debt reduction but also enables the Y to expand square footage to meet the child care needs of the community and allow families to smoothly transition into all other programs at the Y. In the current facility, only 1/3 of the Nobleboro Child Care building is licensable for child care use, therefore, CLC Y pays a mortgage on a full facility but can only use a third of it. CLC YMCA has recently entered into a Purchase and Sale agreement on this facility with a 3-year lease term included. This lease would allow child care to remain in the Nobleboro building for up to 3 years. This would give the CLC YMCA Master Facility Task Force time to explore options to move child care out of the Nobleboro building.
    • Building an endowment. An endowment will ensure the sustainability of the Y for the future and protect the investment that has already been made in the renovated and expanded main campus facility.

     

    For information about any of the Y's programs, visit clcymca.org