1. The WNA Board of Directors adopted a financial stability plan to address a recent trend of finishing each fiscal year with a deficit.
2. Costs associated with maintaining the WNA building, determined to be an average of $48,000 per year, were reviewed and analyzed by the WNA Board. These are costs over and above rental income generated from our current tenants.
3. The Board of Directors agreed that the WNA office has served the membership well over the past 30 years. However, fixed building expenses (i.e. property taxes) will only increase and significant repair/replacement costs to maintain an aging building are expected. The question was asked: Would it be better to redirect this money elsewhere?
4. The WNA Board of Directors secured the services of a real estate firm to list the building, and WNA received an offer to purchase within one month of posting. The offer received met our asking price.
5. The decision to sell the building, along with the process used to reach this decision, was presented at the October 23, 2015 WNA Annual Meeting and published in the October 2015 issue of “The Wisconsin Nurse.”
6. WNA plans to rent office space from the buyer until August 31, 2016. This will provide staff time to ‘clean house’, make the transition from paper to electronic storage of files, transfer historical documents to the Wisconsin Historical Society, and assess the amount of workspace/storage needed beginning September 1, 2016.
7. The realtor will assist the staff and the Board in identifying rental options for the new WNA headquarters.
The WNA Building was sold on Monday, December 28, 2015. WNA will remain as tenants in the building until August 2016.
