Iowa State Bank announced a $75,000 gift to the Algona Family YMCA’s capital debt reduction campaign designed to boost the YMCA’s fiscal fitness.
Bank president Tom Larson announced the $75,000 pledge over three years. The Algona Family YMCA is working to raise a total of $1.5 million to eliminate its capital debt. “We are pleased to help support the Algona Family YMCA. Our customers, employees and community benefit from the great programs at the YMCA. The “Y” is key to our community’s economic development efforts as well,” stated Larson. “Helping the YMCA eliminate their capital debt helps the YMCA focus on its mission of serving the community,” said Larson.
Volunteers for the Algona Family YMCA are working to raise $1.5 million to pay off the existing capital debt. Eliminating debt today will allow the Y to continue its focus on growth, service and meeting future community needs while minimizing the impact on members. The Algona Family YMCA is a 501(c)3 non-profit organization which began in 1989 as the Algona Rec Center. Since 1989 the organization has grown from 5,000 square feet to its current 60,000 square feet with over 3,000 members and approximately 120 staff. For additional information about the Algona Family YMCA, contact Executive Director Greg Bradley at 515.295.7701.