NEWTON YMCA Receives Capital Endowment Gift from Brad & Mary Manatt
Newton, IA, December 21, 2015 – The Newton YMCA announced today they have received a Capital Endowment Gift of $5 million over the next three years from Brad and Mary Manatt. The gift is to be used for present and future capital need projects of the Newton YMCA.
“We have been blessed by this wonderful gift from Brad and Mary and will be forever grateful to them for their years of volunteerism and financial support,” said Newton YMCA CEO, Frank Buckley. “A gift of this size helps ensure Y experiences are enjoyed by future generations to come. A strong Capital Endowment is critical in providing a facility which can support the programs and services needed in our community.”
Over the coming months a team of YMCA advocates and Y professional staff will develop long-term plans for how this endowment may be used to ensure the Y’s future and endow programs and services that further the YMCA’s mission to develop youth, promote healthy living and foster a sense of social responsibility. Buckley added, “It’s important to understand that continued financial support no matter how large or small for the annual campaign, memberships, and business sponsorships are still needed to make sure that everyone in our community desiring to participate in the Y may do so today and tomorrow.”
“We’re pleased to be able to give this level of support to one of Newton’s great assets. The Newton YMCA has served as a cornerstone for years and we want for youth in future generations to have a Y experience,” Brad Manatt stated. “It’s played a significant role in both Mary and my life along with programs that meet the needs of our kids.”
NEWTON, Iowa- the Newton YMCA has received a gift of $5 Million dollars as a capital endowment for maintaining the Newton facility.
Brad and Mary Manatt made the gift as a way to help support the Newton Community.
“We have been blessed by this wonderful gift from Brad and Mary and will be forever grateful to them for their years of volunteerism and financial support,” Newton YMCA CEO Frank Buckley said. “A gift of this size helps ensure Y experiences are enjoyed by future generations to come.”
Built in 1976, the facility has hit the 40 year stage. “This gift will be used for building projects such as a new HVAC system, roofing, repaving, and other large scale capital needs,” said Buckley. The building housing the YMCA has a swimming pool, two full-size gyms, and other health and wellness areas.
The gift will be made over three years; with an initial $3 million in 2016 and $1 million pledged for 2017 and 2018. A Capital Project Committee has been appointed to decide how best to use the gift to improve the YMCA. The Manatts gave the gift with no strings attached requesting no name recognition attached to the building, and no special ceremony in recognition of their generosity.