Milwaukee YMCA files bankruptcy plan

Freeman Staff

 Dec. 2, 2014

MILWAUKEE The YMCA of Metropolitan Milwaukee has filed its formal plan of reorganization with the U.S. Bankruptcy Court for the Eastern District of Wisconsin. The Milwaukee Y filed for Chapter 11 bankruptcy in June.

The plan includes the sale of over 70 percent of the properties owned by the Milwaukee YMCA, including the Ys former charter school, the Young Leaders Academy. It also calls for transferring programs to organizations better equipped to handle them, reducing staff by 55 percent to better align with a smaller footprint, changes to the leadership team, and negotiating the distribution of available sale proceeds.

The YMCA of Central Waukesha County agreed earlier this year to purchase the Tri-County YMCA in Menomonee Falls, West Suburban YMCA in Wauwatosa and Southwest YMCA in Greenfield for $7 million and up to an additional $1 million, based on profits through 2016.

The Milwaukee Y will be transitioning away from some programs and focusing on the areas of health and wellness and non-academic youth development.

www.ymcamke.org