The YWCA of Greater Portland (YWCA) today announced that the sale of its building, located at SW 10th Avenue and Main Street in downtown Portland, to Northwest Academy (NWA) will not be proceeding.
The YWCA has been under contract to sell the downtown building to NWA since July 2011, for a purchase price of $6.7 million. On December 31, 2012 the Purchase and Sale Agreement expired, as NWA was unable to meet the terms of the agreement.
The YWCA shares NWA’s disappointment that the building sale could not be completed, despite the spirit of consultation and collaboration that was involved throughout the process.
The YWCA’s decision to sell its downtown building was initiated by its previous leadership, as part a broader strategy to stabilize the organization’s finances in light of decreased public and private funding of social services organizations.
This strategy was strengthened under the leadership of Dr. Leslie Bevan, who was appointed Executive Director in November 2011, and who began her tenure by exploring more sustainable strategies for stability and growth.
Commenting on the organization’s approach, Dr. Bevan said “the YWCA has been focused on its future with an eye towards financial stability over the past 13 months. This has included implementing a number of strategies that have successfully improved our overall health.”
In September 2012, the YWCA entered into an Administrative Services Agreement with local non-profit agency Impact NW. Under the agreement Impact NW administers the YWCA’s accounting, payroll, and human resources functions, saving the YWCA a projected $100,000 per year, and significantly reducing its administrative overhead. The agreement between the YWCA and Impact NW allows the YWCA to tap into a depth and breadth of expertise that the organization would otherwise not be able to attract at this time, which is key to improving its short and long term financial health.
Last year the YWCA served over 11,500 people in the Portland community, reinforcing its mission of eliminating racism and empowering women. The YWCA is currently reviewing its options with regards to its downtown building, with a focus on ensuring that its work is mission -aligned, and financially sustainable.
“The YWCA is committed to meeting the evolving needs of our community. Our priority is to ensure our services remain timely, relevant, and sustainable, so that the families we serve can continue to rely on our support to rebuild and transform their lives” said Dr. Bevan.
The YWCA is optimistic about its future, and committed to another 110 years of high quality service delivery in the Portland community.
* * * * *
For further information contact Leslie Bevan, Executive Director, at (503) 294-7490 or email@example.com