The YMCA in Twin Falls, Idaho, which is on probation with the YMCA, is taking steps to avoid losing its charter and status as a non-profit organization.
YMCA Magic Valley board chairman Andy Barry released a statement to the Twin Falls Times-News last week detailing actions that the organization is taking to address its financial woes. YMCA Magic Valley allegedly misappropriated nearly $700,000 in donations and failed to complete routine audits, according to the Times-News, which first reported the story and continues to cover the situation.
“We ultimately failed the community by allowing the financial operations of the YMCA to become unbalanced and putting the organization at risk,” Barry's statement to the Times-News read. “The primary goals of our recovery efforts are to restore community trust in the Twin Falls YMCA and provide a framework for ongoing financial security.”
The YMCA over the past three months has cut or reduced overhead and operating expenses; cut staff; evaluated some service contracts; ordered a temporary 10 percent pay cut for senior staff; replaced former CEO Garry Ettenger with Barry, a volunteer; and created an executive board to oversee finances and management, Barry told the Times-News.
Additional details on YMCA Magic Valley's recovery plan is available in the Times-News story.
YMCA Magic Valley owns two gyms in Twin Falls. It also manages the YMCA/Twin Falls city pool under a contract with the city, according to the Times-News. The city is reviewing its contract set to expire in 2018, according to the Times-News.