WSVMA Capital Campaign
Pride of ownership, a home of our own - Donate today!
The WSVMA new office space has been completed!
Click here for the office floorplans.
In the 1960’s, a group of veterinarians had the foresight to envision a permanent home for the WSVMA. These six members donated approximately $40,000 to help realize that dream. Since that time, we have continued to lease office space, while slowly and responsibly building our reserves.
In 2006, the WSVMA Executive Board set forth a firm goal to purchase space as part of the Strategic Plan. We have funds to make a sizable down payment. WSVMA is now within sight of realizing the goal of purchasing permanent office space because of careful financial management and its strong commitment to members.
Details on the property
The proposed purchase is located at 8024 Bracken Place SE, Snoqualmie, WA 98065. It is located within an office condominium project at Snoqualmie Ridge built in 2007 just two miles off of 1-90 and Hwy. 18. The location is centrally located with no traffic congestion. The proposed purchase is 1,913 square feet; double the existing leased space.
Why purchase now?
Commercial real estate values in the Pacific Northwest continue to increase. The Snoqualmie Valley area is in a growth phase and property values are expected to increase a minimum of 3% to 5% annually for the foreseeable future.
WSVMA leadership, past and present, believes that purchasing permanent housing enhances our long term financial health. It allows us to continue serving the members of the veterinary profession in Washington while remaining fiscally responsible.
The WSVMA is launching a $500,000 capital campaign incorporating annual fundraising for the purpose of paying off the mortgage of the new WSVMA headquarters within five years.
What are the benefits to me as a member or donor?
Purchasing office space to house the WSVMA headquarters will positively impact each WSVMA member, their patients and the veterinary profession in Washington for many years to come:
- This purchase converts one of the association’s largest expenditures in the form of rent into a real asset that will build equity and increase the association’s net worth.
- A purchase versus a rental ensures long term financial health, location stability and sustainability.
- This purchase facilitates member services sustainability and growth by doubling office space.
- Paying off the mortgage early will allow the WSVMA to keep dues low.
Joining your association as a donor to the capital campaign will further secure the financial health of the WSVMA, assure continued legislative, communication and media advocacy for veterinarians in Washington and aid in implementation of new programs directed at more efficiently and cost effectively serving members, including our new graduates who face enormous educational debt.
Donations to date
Our founding donors in the 1960’s foresaw this effort and donated $40,000, which has increased ten times its original value. These people included several past WSVMA presidents. To date, an additional $13,000 has been personally donated or pledged by contemporary WSVMA leadership to join us in this effort.
How can you help make a lasting difference?
The members and friends of the WSVMA are the donor pool we believe will come forward and donate funds to pay the mortgage in full within five years. Currently, if each member donated $80 per year for five years, the mortgage could be paid in full. Each gift makes a difference.
Budget and timeline
Current purchase price—$560,000
Proposed down payment—$112,000
Balance on 20 year 7% loan—$448,000
Necessary interior improvements for occupation—$ 90,000
September 30, 2008—Loan closes and WSVMA takes possession
October 1, 2008—Begin interior improvements
December 12, 2008—Moved in!
Washington State Veterinary Medical Association
8024 Bracken Pl SE, Snoqualmie, WA 98065
Phone: (425) 396-3191, FAX: (425) 396-3192, E-Mail: firstname.lastname@example.org