Mutually accepted purchase and sale agreement on 1901 Hoag Road.
Capital Campaign Kickoff Event
Groundbreaking and construction begins
Grand Opening – First Splash!
The current YMCA was built in 1941 and has served members for the past 75 years. We need a new facility that is larger to serve more members, ADA accessible and provides double the aquatic and gym space than we currently have.
We currently lease the YMCA on Fulton Street from the Mount Vernon School District. After we vacate the building, the School District will utilize the space how they see fit.
For the first time in the YMCA’s 105 year history in Skagit Valley, we own our own land! We have purchased property at 1901 Hoag Road, adjacent to Salem Lutheran Church.
The YMCA will be breaking ground on the new facility in Fall 2017, with an early Spring 2019 opening date for the “First Splash”.
We are projecting going from 3,000 to 10,000 members when we open which will allow us to keep the monthly membership low; we are planning a nominal increase from current prices.
Yes. Currently 20% of our members are on a scholarship of some sort, on a sliding scale. We anticipate this percentage will stay the same with the new facility, which will serve 3x as many members.
The Skagit Valley Family YMCA is part of the National YMCA organization, which provides support with marketing and programming materials. We pay a 2% administrative fee to the National Organization for this support. The National Organization does not support local YMCA capital campaigns with monetary donations. 100% of funds donated to the campaign stay in Skagit Valley for our campaign.
The total project cost is $23 million. The project will be funded by:
The operations pro forma for the new Y is strong, with three sources of earned income. First, the YMCA is projecting growth from its current 4,400 membership to approximately 12,000 members which will provide ongoing membership revenue. Second, the YMCA plans to have the four classroom Early Learning Center onsite which will generate a strong, continued revenue source of earned income. Third, partnerships will result in an additional income stream in the building. The YMCA is committed to increasing its donor base and will be practicing good stewardship of our donors to ensure continued annual support of the new facility and programs.
The YMCA will be setting aside $100,000 annually in a Building Reserve Fund for future repairs and replacements, beginning in 2019 when we open the new facility.
Yes, there are various naming opportunities starting at $25,000. Families are most welcome to pool resources and make a joint pledge. All gifts of $50,000 or more (regardless of naming rights) will be on the Builder’s Wall in the lobby of the new Skagit Valley Family YMCA.
Please see the Donor Commitment Form for all naming opportunities.