Milwaukee Metro YMCA facing $30 Million debt
Girls, nws, adp, 13 of 17 - Girls on the Run participants exercise before their run on Wednesday, May 16, 2012 at the Milwaukee YMCA on West North Ave. Girls on the Run is part of an international program that's come to the Lindsay Heights neighborhood as part of a neighborhood effort to improve the health and wellness of its residents in one of the Zilber Neighborhoods. Angela Petersonfirstname.lastname@example.org Image by Angela Peterson
MILWAUKEE-- The Milwaukee Metropolitan YMCA is facing a $30 million debt that is prompting restructuring plans that could result in a smaller organization.
According to a Megan Hakes, a spokesperson for the YMCA, the debt is a result of well-intended growth efforts, including new sites, re-imaging of existing ones and the opening of a charter school. Most of this growth took place in the early to mid 2000s.
The YMCA is working through a plan with its banking partners. Hakes said the organization is not in a position to say exactly what that plan will look like, but the YMCA will become smaller and more focused. It is possible that some sites may close.
When asked if the YMCA was in danger of shutting down if things did not change, Hakes could not answer that.
"The future is uncertain, but what is certain is that the Y is worth saving and worth fighting for," said Hakes.