NORTH CENTRAL FLORIDA YMCA G ets a Stay of Execution
Facilities and Programs Extended through Jan. 31, 2017
GAINESVILLE, FLORIDA (Dec. 28, 2016)—The North Central Florida YMCA announced today that it will continue operations through Jan. 31, 2017, as it pursues options to extinguish its debt through alternative means to the bankruptcy filing.
The YMCA hopes to continue to build upon the fundraising success of the past two weeks. An anonymous donor has pledged $600,000 towards the efforts to save the YMCA, with a condition that it be matched. Grassroots efforts from over 200 YMCA and community members have pledged $167,000 as of December 28th, 2016. Additional conversations with various potential large donors and foundations are in the works but require more time to come to fruition.
The YMCA has negotiated a payoff of their mortgage with Wells Fargo, and is looking to raise an additional $200,000 to payoff additional debts that would allow them to operate virtually debt free. Included in these efforts is $300,000 to be spent on critical facility renovations.
"I have spent the last 4 ½ years fighting for the fresh start that this funding would provide and I am not ready to throw in the towel yet. We are fighting for over 5000 members of this community that utilize the programs and services that the YMCA offers, including over 2000 children and 1800 seniors. With a little help, we can ensure that the YMCA continues to serve the Gainesville people" stated John Bonacci, CEO.
Robert Walpole, Chair of the YMCA’s Board of Directors, added “The Board is grateful for the outpouring of support and have agreed to extend operations through January to give the Board, Staff, and Members more time to work on options to save the Y. Cash flow is still a major concern for the organization to continue operations into January but we are optimistic that members will stick around and support the Y."
Make a Pledge Online
The North Central Florida YMCA in Gainesville has filed for bankruptcy and is set to permanently close its doors on January 31st, after 49 ½ years of serving our community. The YMCA leadership and we the people of Gainesville do not intend to let that happen. The YMCA currently serves over 5000 people in our community, including over 2000 children and 1800 seniors. We have raised $207,000 in pledges from our members and a $600,000 pledge that needs to be matched to keep these programs and services going. Please help today.
The North Central Florida YMCA is to an inclusive organization of men, women, and children joined together by a shared commitment to nurturing the potential of children, promoting healthy living, and fostering a sense of social responsibility.
All YMCA programs emphasize the four character development traits - caring, honesty, respect, responsibility. Through discussion, role modeling, and skill development, program leaders help participants develop and practice these character traits. Caring, honesty, respect, and responsibility are the cornerstones of YMCA programs for all ages. We build strong kids, strong families, strong communities.