Saturday, November 16, 2013

Future Endowment Fund Possibilities Announced

From our history, the WSPTA headquarters building in Tacoma/University Place, was built and dedicated 24 years ago as an investment for the members. After a thorough discussion of the pros and cons, and by unanimous approval of the member-elected Board of Directors, we are going to sell the building, the profits to be placed to establish an Endowment Fund.

The goal of the Endowment Fund, is so that in five to ten years the Association will be able to sustain itself from the interest paid from the Endowment, (this could create future possibilities for the association, such as allowing a member-approved reduction in our membership dues.) Additionally, by securing a 10-year lease, on a smaller and more efficient facility, the monthly maintenance, security, and overall facility costs of the current building, will be reduced, providing more resources to support our members. These actions will allow us to ensure the WSPTA will be here another 100 years!