Nearly 10 months after filing for bankruptcyHeart of the Valley YMCA has announced a new president and CEO.
Rob Gray, who until recently was the CEO of Bath Area Family YMCA in Maine, is set to take charge of Huntsville YMCA beginning Aug. 11, according to a statement from Huntsville YMCA.
Gray will take over from interim CEO Jeff Collen and brings more than 30 years of experience in senior leadership at YMCAs across the country.
When a more than $15 million loan repayment to Redstone Federal Credit Union became due last year, the north Alabama YMCA could not make the payment and filed for bankruptcy.
Earlier this year, the organization sold its lakeside property, Camp Cha-La-Kee in Guntersville, which has hosted camps for decadesfor about $2.35 million as part of the bankruptcy proceeding.
After nine months in court, a federal bankruptcy court in Huntsville approved the YMCA’s loan refinancing plan last month.
The court’s order says the Heart of the Valley YMCA would:
- Receive $13.35 million in loan refinancing from Redstone at 2.75% interest, pending court’s final approval, with a 10-year repayment period.
- Commit to paying dozens of vendors $702,000 over 24 months from future income and continuing payments of $2,000 monthly to service $500,000 in loans from the U.S. Small Business Administration after paying up to $14,000 in arrears.
- Pay Huntsville Utilities nearly $23,000 in lease payment arrears for the use of its downtown location. The organization had, in April, announced the closure of that location after the expiration of its lease on Aug. 31 and said it is looking for a new downtown location.
- Launch a four-year capital campaign to raise $4 million to pay down the new loan.
After the COVID-19 Pandemic, Huntsville YMCA lost about 30% of its membership and had 26,846 members last year. Gray’s announcement as the new CEO touts the fact that he led the recovery effort of the Bath YMCA from the pandemic, increased membership by 48%, almost doubled the annual operating revenue, and expanded child care services.
“Under his leadership, the Bath YMCA also launched a $6 million capital campaign and earned the 2024 Nonprofit of the Year award from the Topsham, Bath, and Brunswick Regional Authority,” the statement said.
Heart of the Valley YMCA Board Chair Jared Sharp described Gray as a “transformational leader” and the “ideal person to lead our YMCA into its next chapter.”
Gray said he welcomes the opportunity to be part of an organization with a strong presence in the North Alabama communities.
“Together with the staff, volunteers, and partners, I look forward to advancing the Y’s mission to put Christian principles into practice through programs that build healthy spirit, mind and body for all,” he added.
