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Bankruptcy Losses


Eagle1993

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21 hours ago, Eagle91 said:

Descriptions of Camp Bullowa, Durland Scout Reservation, and Camp Nooteeming.

https://patch.com/new-york/newcity/3-hudson-valley-boy-scout-campgrounds-put-market

 

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On 3/25/2021 at 10:12 PM, RememberSchiff said:

Mar. 25, Maine — Pine Tree Council President Jack O'Toole told scouting parents this week that the council is selling Camp Gustin in Sabattus and Camp Nutter in Acton to raise money for its share of a Boy Scouts of America fund for victims of sexual abuse.

 O'Toole wrote. "We have been informed that we will be responsible for a very large cash contribution to go into a 'victims fund.' To put it into perspective, the amount the council will need to contribute will be much more than the total amount that Pine Tree Council has raised in a year."

...more at source link:

https://news.yahoo.com/boy-scouts-selling-sabattus-camp-223000285.html

https://www.sunjournal.com/2021/03/25/boy-scouts-selling-sabattus-camp-gustin-to-raise-money-for-abuse-victims-fund/

Separately earlier this week, a deal to purchase a third Pine Tree Council property, Camp Bomazeen fell through. Back in July, Pine Tree Council decided to sell Camp Bomazeen to raise funds to keep the council afloat. The council’s vote grew from an emergency task force’s recommendation to sell the property to raise money to help address the council’s bleak financial situation, which was made worse by the coronavirus pandemic forcing the cancellation of many Scout activities and fundraisers.

https://www.centralmaine.com/2021/03/21/potential-sale-of-beloved-belgrade-scouting-camp-falls-through/

:(

Update June 18, 2021.

The lawsuit filed by the Maine state AG’s office earlier this year :

1. alleges the council’s efforts to sell the camp to raise funds to help get out of debt violate the terms of the deed to the Great Pond property in place since the spot was donated by Dr. George Averill in the 1940s as a place where Scouts could camp.

2.  seeks to prevent the council from using proceeds from the proposed sale of Camp Bomazeen to pay the council’s operating expenses, creditors or debt. The suit also declares that any proceeds from that potential sale be held in trust “for the purposes of directly supporting camping activities for Boy Scouts in the Pine Tree Council Region, with a preference for Boy Scouts from central Maine.”

More at source link:

https://www.centralmaine.com/2021/06/18/attorney-general-camp-bomazeen-supporters-sue-pine-tree-council-of-boy-scouts/

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4 hours ago, RememberSchiff said:

Descriptions of Camp Bullowa, Durland Scout Reservation, and Camp Nooteeming.

https://patch.com/new-york/newcity/3-hudson-valley-boy-scout-campgrounds-put-market

 

Hard to believe these camps need yet another appraisal to be sold.  :confused:

...In part, a possible purchase is complicated by the fact that there is no price tag. Camp Bullowa is being marketed along with two other Hudson Valley camps, to liquidate assets to pay for the settlements but brokers Cushman & Wakefield have not included an asking price.

“If the town purchased the land, a portion would continue to house the scouts and would be used for recreation while the rest would be preserved as open space,” said the (town) supervisor (Jim Monaghan). “But here’s the problem. The municipality can only pay for the land’s appraised value, or a 10 percent increase over that value, and we don’t have an appraisal.”

The (town) supervisor said he would initiate an independent appraisal for the land.

Council CEO Richard Stockton said the 501C3 is looking for the highest bidder.

“The Town of Stony Point can make a bid like any other buyer, but the Attorney General’s office will not let us sell for anything less than the appraised value,” Stockton said. Nonprofit organizations must seek approval from the New York State Attorney General’s Office or the court when it sells an asset to prove the sale is fair market value.

Stockton, clearly upset over the prospect of losing one or more of these three camps, also said the Council is going to seek to get as much as it can on one or more of the assets to satisfy its legal obligations. “We hope to retain at least one of these properties depending on the market value needed to fund our council’s contribution to the survivor’s compensation Trust as part of the national organization’s bankruptcy process,” he said.

Stockton would not say how much the Council needs to raise but he did explain that if it could salvage one or even two of the camps by selling a third at a high enough price, his organization would do so because the organization wants to preserve any camp that can be saved...

More at source:

https://rcbizjournal.com/2021/06/23/stony-point-supervisor-explores-options-to-purchase-camp-bullowa/

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June 24, 2021: Greater Hudson Valley Council

GHV Statement on National Bankruptcy

Greater Hudson Valley Scouting Community:

We would like to take a moment to update you on the National Bankruptcy and how it will affect our Council. We, the Council Key 4 were required to sign an NDA (non-disclosure agreement) regarding the bankruptcy, so there are some details (numbers) that we cannot share at this point. However, we can say that our Council has been assigned to pay a non-negotiable multi-million-dollar payment. The Council Board, which is made up of volunteers representing communities and districts from around the Council is discussing ways to satisfy this amount.

As the Council faces a multi-million-dollar payment, please understand that as a non-profit organization most of our worth is in our assets, which is our property. It is difficult to foresee a way of making this payment without selling a property. The Council Board will look at every option and will vote on the solution that will pay our debt and point us all toward the brightest outcome.  The decision to sell a camp is heart wrenching. To an outsider it is just acres of dirt, but to us it is so much more. Each of our camps hold generations of memories molded by time, sweat, laughter, gifts, and a passion for Scouting that will never end. We each have a camp in our heart that has been life changing and priceless. These are the reasons why selling a camping property is so difficult. We understand your commitment and passion because Scouting is a part of our families as well. However, it is the Board’s commitment to you, to ensure that Scouting survives in the Hudson Valley for todays and tomorrow’s Scouts.

Scouting is a movement fueled by passion and a desire to serve the community. Together, we will grow Scouting in the Hudson Valley after the National Bankruptcy is behind us. We will update you, our Scouting community, with details as soon as we are able. Thank you for your understanding and patience.

Yours in Scouting,

Paxton Louis, Council Board Chair
Gregg Dick, Council Commissioner
Ben Mills, Executive Vice Board Chair
Richard Stockton, Scout Executive

Related news story link

Below is a statement from the Greater Hudson Valley Council, Boy Scouts of America:
Regarding the Need for Camp Property Sales:
 
To ensure we are best positioned to continue serving local youth, families and communities for years to come, the Boy Scouts of America Greater Hudson Valley Council has made the difficult decision to list some camp properties for sale. While this has the potential to impact operations at one or more properties including Camp Bullowa, Durland Scout Reservation and Camp Nooteeming, we have not yet finalized any sales and will continue operations as planned in these locations for the summer 2021 season. We hope to retain at least one of these properties depending on the market value needed to fund our council’s contribution to the survivor’s compensation Trust as part of the national organization’s bankruptcy process. Additionally, our Curtis S. Read Scout Reservation property is not for sale and will continue to serve local youth this summer and beyond.
 
The national organization of the BSA and all local councils are working together to achieve two key imperatives: equitably compensate survivors of past abuse in Scouting and ensure that Scouting continues in our communities and across the country for generations to come.
 
This was a difficult decision, and we understand the concerns that this may raise with our local Scouting families, but this a necessary step as we work toward these shared imperatives. While all of the Greater Hudson Valley Council’s camp properties have been valued parts of our operations over the years, we are confident that this decision is the right course of action to ensure the future of Scouting in our communities.
 
As a reminder, our council has not filed for bankruptcy. The Greater Hudson Valley Council remains as dedicated as ever to delivering our nation’s foremost program for character development and values-based leadership training in the Hudson Valley region. The Greater Hudson Valley Council serves about 10,000 young people on an annual basis. We are looking forward to an enriching summer of programming including STEM workshops, merit badge workshops, family nights, and other summer adventures.
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Some thoughts and questions

As we are seeing here, multiple council properties will be cast into the real estate market to meet the council's non-disclosed bankruptcy levy. The prime properties will likely go first to developers. Local towns like Stony Point and camp alumni will be SOL.  Will more council properties (all three camps in this case) be sold over the levy amount but used for other purposes than the bankruptcy. i.e., mergers, endowments, rainy-day funds? We will not know.

"We, the Council Key 4 were required to sign an NDA (non-disclosure agreement) regarding the bankruptcy..."

Key 4? I wonder if their Executive Council increased 33%?

Could eminent domain come into the picture, say the local town wanted water rights?

My $0.01,

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17 minutes ago, johnsch322 said:

While browsing thru Zillow I noticed a house/meeting hall being sold by the local Boy Scouts in Eureka California. 

It looks like a council office and store.

https://www.humboldtlistings.com/idx/1007-Wood-Street-Eureka-CA-95501-mls_259440/?SavedSearch=20140710193939388326000000&PropertyType=A&pg=1&OrderBy=-ModificationTimestamp&p=y&n=y

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  • 2 weeks later...

July 6, 2021: Blackhawk Area Council (IL)  Executive Committee voted "to approve a Letter of Intent to create funding to meet a national obligation to pay the settlement for those abused in the Boy Scouts of America."

The Council Executive Board will meet on August 19th to decide if the sale should move forward..

Dan Dick, the Vice President of Outdoor Adventures (Lena, IL), said, “I am extremely disappointed. We have an obligation to the national organization to do our part, but not like this.”

The camp is operating with a budget surplus and serves more than 1,000 young people. Dick said more than 500 people have already reached out to the council within the last 24 hours.

“For some reason, this proposal was put forward without full board debate or full board considerations. A smaller executive committee met, and that was after an even smaller working group met, that did not have full representation,” Dick said.

Alternative solutions include a mixed use of funding streams such as a portion of the Blackhawk Area Council's $5,500,000 endowment ($1.5+M unrestricted) and $1.54M of real estate assets available (In addition to our sister camp which should not be considered) to be utilized for the Council contribution.  Concurrently, the Blackhawk Area Council receives more than $100,000 in funds from the legacy of the Frejd Family annually that is restricted specifically for our camps. A portion of these dollars can be used to fund a temporary mortgage on our Council camps as the produce revenue for the programs they provide.

Canyon Camp Alumni have started a petition to encourage the Blackhawk Area Council to save the camp.

Blackhawk Area Council, Boy Scouts of America statement:

To ensure we are best positioned to continue serving youth, families and communities for years to come, the Blackhawk Area Council is exploring ways to preserve its critical assets, while also compensating survivors by contributing to the Trust as part of the national organization’s bankruptcy process. Our contribution could include the partial sale of certain properties, but this has not yet been determined and it is too soon to speculate. That said, we fully intend to retain at least a portion of Canyon Camp, if not the entire property.

The national organization of the Boy Scouts of America and all local councils across the country are working together to achieve two key imperatives: equitably compensate survivors of past abuse in Scouting and ensure that Scouting continues in our communities and across the country for generations to come. This will involve difficult decisions, and we understand the concerns that may arise with our local Scouting community, but this is a necessary and important step as we work toward our shared imperatives. Our leadership team is committed to making decisions that are in the best interest of continuing our important mission and delivering Scouting’s invaluable programs to youth in our area.

As a reminder, our council has not filed for bankruptcy. The Blackhawk Area Council remains as dedicated as ever to delivering our nation’s foremost program for character development and values-based leadership training in the Rockford area. Our council provides countless experiences for young people in our area each year. We are looking forward to an enriching summer of programming, including family camping at Lowden, Scout Night at the Rockford Rivets and more.

Sources:

https://www.mystateline.com/news/local-news/boy-scouts-to-close-stockton-camp-to-settle-national-sex-abuse-lawsuit/

https://www.canyoncampbsa.org/save

https://www.wifr.com/2021/07/08/blackhawk-area-council-votes-close-canyon-camp/

Edited by RememberSchiff
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12 hours ago, satl8 said:

Grand Canyon Council has decided to sell Camp Geronimo and 10 acres of the Heard Scout Pueblo. 7M was the number we were given...

 

Grand Canyon Council announcement

So much for "The Council Executive Board will meet on August 19th to decide if the sale should move forward." , sounds like the decision has been made.

https://www.azcentral.com/story/news/local/arizona/2021/07/09/grand-canyon-council-boy-scouts-america-plan-sale-arizona-land/7922406002/

 

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7/14/21:

Pathway to Adventure Council  (Chicago) sold Camp Lakota for $928,000  to McHenry County Conservation Foundation

According to Council Board President Marc Passiment, money from the sale will partly meet the council’s expected contribution to the sexual abuse settlement trust. Selling the camp has been under consideration since 2015.

More at source links:

https://www.mchenryconservation.org/news_detail_T7_R6.php

https://www.chicagotribune.com/news/breaking/ct-mchenry-boy-scout-camp-conservation-20210714-lt7nvc6rsjbalmqeojd3vbfym4-story.html

Edited by RememberSchiff
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Ozark Trails Council (MO) is considering selling the 180 acre Frank Childress Scout Reservation.

Council statement

The Ozark Trails Council is exploring ways to fund our council’s contribution to the survivor’s compensation Trust, as part of the national organization’s bankruptcy process, while ensuring that Scouting will continue serving youth and families in our communities for years to come. The sale of council property is a potential means to achieve both imperatives. 

The council received an unsolicited offer to purchase Frank Childress Scout Reservation, and our Executive Board is scheduled to vote on whether to accept that offer during its July 15th meeting as part of ongoing discussions on how to best position the council for the future. 

The decision to sell any council-owned property will be difficult. The reality is the Council Executive Board has few options to fund our contribution to the survivor’s Trust. Our leadership team is committed to making decisions that are in the best interest of continuing our important mission and delivering Scouting’s invaluable programs to youth in all 31 counties that make up the Ozark Trails Council. If this sale is approved, there will still be a council property within an hour’s drive for members from every corner of our council’s service area.

As a reminder, our council has not filed for bankruptcy. The Ozark Trails Council remains as dedicated as ever to delivering our nation’s foremost program for character development and values-based leadership training in our communities. Our council serves about 4,300 young people on an annual basis and will continue to do so throughout this process. We are looking forward to an enriching summer of programming, including water sports on Cow Creek, and overnight campouts at Plagens Wildlife Area and Frank Childress Scout Reservation. 

Source:

https://www.fourstateshomepage.com/news/the-boy-scouts-of-america-ozark-trails-council-is-considering-selling-a-reservation/

Edited by RememberSchiff
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Canyon Camp is saved

https://www.telegraphherald.com/news/tri-state/article_34c2cdb2-92df-5011-8f9e-7f458b7dac12.html

Quote

After a Stockton Boy Scoutcamp announced last week that regional officials planned to close their camp, the area council has confirmed the camp will continue operating.

And

Quote

“The Council Board has been instructed that we cannot share any figures or details of the settlement proposal until it is officially voted on,” the post read. “We can happily share that Canyon Camp will continue to remain open for business in 2022 and beyond!”

No details and the FB posting says the final proposal will be voted August 2, but if I had to bet they are going to opt to wipe out all their cash reserves in order to save the camp.

Edited by CynicalScouter
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