PUBLIC NOTICE OF MEETING

DYER COUNTY YMCA BOARD OF DIRECTORS

This is public notice that a meeting of the Board of Directors for The YMCA of Dyer County will be held on Tuesday, June 25, 2024, to consider the proposal of dissolution of the organization. The meeting will be held at the Dyer County YMCA at 4:00 p.m.  You are invited to attend and be heard. 

 

Attached to this Public Notice is a summary of the Plan of Dissolution that the Board of Directors will consider at the meeting. 

The agenda for the meeting is as follows:

Welcome

Invitation for Public Comments.  (These public comments are limited to the first ten people to sign up prior to the meeting.  Each speaker will be limited to three minutes). 

Presentation of the Plan of Dissolution

Discussion of the Plan of Dissolution

Vote on the Plan of Dissolution

Adjourn

PUBLIC NOTICE OF MEETING

YMCA OF DYER COUNTY MEMBERSHIP

This is public notice that a meeting of the Membership of the YMCA of Dyer County will be held on Tuesday, June 25, 2024, to consider and vote on dissolution of the organization.   The meeting will be held at the Dyer County YMCA at 5:00 p.m.  You are invited to attend, be heard, and vote.   

 

Attached to this Public Notice is a summary of the Plan of Dissolution that will be presented to the Membership at the meeting. 

The agenda for the meeting is as follows:

Welcome

Invitation for Public Comments.  (These public comments are limited to the first ten people to sign up prior to the meeting.  Each speaker will be limited to three minutes). 

Presentation of the Plan of Dissolution

Discussion of the Plan of Dissolution

Vote on the Plan of Dissolution

Adjourn

 

 

 

PLAN OF DISSOLUTION

 

The Dyer County YMCA has been forced to consider the dissolution of the organization and the closure of the local facilities.  

 

 

 

Key messages

 

  • The Y has been facing an ever-increasing financial hardship.
  • The Board of Directors will hold a public meeting on June 25, 2024 to consider dissolution due to the financial hardship.
  • The Y has been operating under financial strain for a number of years due to rising costs.  The Y’s Board of Directors conducted an extensive review of the Y’s operations and finances in the hope of finding an alternative to closing. Unfortunately, when coupled with the economic impact of the COVID-19 pandemic, no alternatives proved feasible for the long-term sustainability of the Y.
  • This turn of events is disappointing for everyone. The most difficult part about this situation is the impact it will have on our staff, members, participants, volunteers and everyone in the community. However, the Y is committed to connecting all affected to neighboring YMCAs so they can provide those affected with the opportunities and services they need.
  • While this building may close and the Board of Directors of the Dyer County YMCA will vote on dissolution, the Y leadership remains committed to serving and strengthening the communities it serves, and has been working with community stakeholders to explore all possible partnerships that could provide an opportunity for Y services to be delivered in different formats and venues.

 

 

 

 

DISSOLUTION TIMELINE

 

  • June 18, 2024:   Public Notice posted of Board of Directors meeting on June 25, 2024 to vote on proposed dissolution.
  • June 18, 2024:    Public Notice to members of Dyer County YMCA of meeting to vote on dissolution of the organization. 
  • June 25, 2024: Board of Directors meeting to vote on proposing dissolution to the membership.
  • June 25, 2024:   Should the Board of Directors vote to propose dissolution to the membership, the meeting of the membership shall immediately follow the Board of Directors meeting.  At this meeting, the membership present will vote on whether to dissolve the Dyer County YMCA. 
  • July 1, 2024:   Should the membership vote to dissolve the Dyer County YMCA, notice of the dissolution shall be provided to the Attorney General of the State of Tennessee by this date. 
  • July 1, 2024:   Target date for operations of the Dyer County YMCA to cease.  The wind-down period begins as the Board of Directors proceeds with liquidating the affairs of the organization.
  • August 12, 2024:   By this date, the Articles of Dissolution will be sent to the Tennessee Secretary of State. 
  • August 13, 2024:   The Known and Unknown Claims notification shall be published in local newspaper.  Attorneys for the YMCA will continue to negotiate the debt owed to the Small Business Association and YMCA Board members will negotiate the other debts.  Assets may be used to negotiate those debts.  Any remaining assets will be distributed in accordance with the By-laws. 
  • TBD:   After the winding down period is complete, the affairs of the organization have been sufficiently handled, and the Secretary of State files the Articles of Termination, the Dyer County YMCA will cease to exist. 

 

 

CLOSING OF YMCA – FREQUENTLY ASKED QUESTIONS

 

  1. What exactly is closing?

 

Should the Board of Directors vote to recommend dissolution and the membership vote to dissolve, the Dyer County YMCA will be closing and dissolving as a charitable organization due to financial strain. The closure will result in the termination of membership operations and all programs hosted in the facility will cease to operate.   

 

  1. When is the Dyer County YMCA closing?

We cannot answer this question definitively until after the vote.  We estimate between July 1 - August 13, 2024.

 

  1. Why is the Dyer County YMCA closing?

As you may know, this Y has operated under financial strain for a number of years due to the rising costs associated with operating. Our Board of Directors conducted an extensive review of the Y’s operations and finances in the hopes of finding an alternative to closing. Unfortunately, coupled with the economic impact of the COVID-19 pandemic, no alternatives proved feasible. We simply don’t have the financial resources to sustain operations at our facility.

 

  1. What programs will continue to be operated by the Dyer County YMCA?

None. 

 

  1. What programs will we have access to that may be operated by a neighboring YMCA?

The YMCA of West Tennessee has expanded the Summer Food Program and will be offering free breakfast and lunch to children 18 and under at a location in the Dyersburg community starting June 3.  In addition, the YMCA of West Tennessee plans to expand its current day camp sites and will provide day camp to children aged 5-12 in the Dyersburg community starting in June.  More information will be available soon.  

 

  1. How are you supporting members and program participants?

 

We are committed to connecting you with the opportunities and services you need once this facility is closed — whether that is at another nearby Y or a partner in the community.

 

  1. What will happen with my membership?

All memberships will be honored until our closing date, and if you paid for your membership for an annual term beyond the date we close, you will receive a pro-rated refund.  If your YMCA membership is processed monthly by bank draft, the last draft will be determined at a later date. 

 

  1. What happened to my donation?

 

Your donation was applied to the program or service that it was solicited to support at the time of your donation. Refunds on donations will not be processed. 

 

  1. What is happening to staff?

 

All employees will be compensated up and through the date of closure, which will be determined by the vote on June 25.  We will be gathering information on local job opportunities and unemployment services as well as opportunties available through neighboring YMCAs Please contact Laura Gregory if you have questions about your compensation or how to file for unemployment benefits pending the outcome of the vote on June 25.  

 

 

  1. What is the future of the Y in our community?

 

 We do not have a plan for the future of a new YMCA in this community at this time.