YMCA receives $1.5 million from Peterson family: Final $600,000 is fulfilled
A key donation to the Alexandria YMCA has now been finalized.
In 2008, Maynard "Bud" Peterson of Alexandria pledged $1.5 million to the YMCA as part of the YMCA's "Complete the Dream" capital campaign to build the new facility.
Peterson had contributed $900,000 toward his pledge on August 16, 2008.
The remaining balance of $600,000 was a challenge match to the community. Peterson had agreed to match dollar for dollar the next $600,000 donated by the community at large.
The community responded, and within two months had met the challenge.
Peterson was finalizing arrangements for payment of the remaining $600,000 of his pledge when he passed away unexpectedly this past February.
The YMCA and the Peterson Estate worked together to fulfill Peterson's gift, and the Peterson Estate has now paid the remaining pledge of $600,000, according to YMCA leaders.
Because of the family's support, the Alexandria YMCA will be named the Maynard "Bud," Sylvia, Diane, Neil and Bruce Peterson Program Center.
"Mr. Peterson's gift was paramount to bringing a YMCA program center to the Alexandria area, and the YMCA is grateful to the Peterson Estate for fulfilling Mr. Peterson's pledge," said YMCA board chair Eric Rice.
Neil Peterson, son of "Bud" Peterson, said, "My father felt very strongly about the benefits a YMCA program center would bring to the Alexandria area and he was excited to help make that dream a reality."
Bud Peterson was the long-time owner of Pete's County Market grocery in Alexandria, and Neil continues to own and operate Pete's County Market.
The YMCA "Complete the Dream" Capital Campaign has raised more than $8,162,000 from 804 donors.
As of this week, the YMCA is about $475,000 short of its total fundraising goal.
YMCA leaders hope to leverage more support through a $245,000 challenge gift, which has so far raised $109,000. All pledges that are made will be matched dollar for dollar through the challenge grant.
"If you haven't given yet, now is a great time to pledge," said Jeff Bartholomew, YMCA executive director. "Your gift will be doubled."
To give to the Alexandria YMCA, call (320) 763-9621 or visit the website, www.AlexandriaYMCA.com.
Construction on the 56,000-square-foot center began on April 14. The YMCA plans to occupy the facility on May 18 and open it to the public in June of 2010.