Address

Precise Investors

Latest News

YMCA property yet to receive offers

The Magic Valley YMCA is waiting for any offers for its Canyon Rim property.

But board president Andy Barry wrote in a Friday email to the Times-News that interests have been expressed by potential buyers.

The Y announced in a letter to members in October it planned to close the branch and sell the Pole Line Road property.

By Nov. 1, employees and services for thousands of members were transferred to the nonprofit’s Elizabeth Street location.

The move came as the Y tries to move forward after major financial issues surfaced earlier this year, following chief executive officer Gary Ettenger’s resignation in March. That included the misappropriation of donations earmarked for specific projects.

Its national parent group nearly pulled the local group’s charter.

And the Idaho Attorney General’s Office wrapped up an investigation in September, saying it has reason to believe the Twin Falls Y violated Idaho’s charitable trust laws.

Now, the Y has paid off its back taxes using an interest-free loan. And it plans to sell a 3,000-square-foot building on Falls Avenue — part of a 2014 donation.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

10 + 13 =