NEWTON, Iowa- The Newton YMCA has received a gift of $5 Million dollars as a capital endowment for maintaining the Newton facility.
Brad and Mary Mannatt made the gift as a way to help help support the Newton Community.
“We have been blessed by this wonderful gift from Brad and Mary and will be forever grateful to them for their years of volunteerism and financial support,” Newton YMCA CEO Frank Buckley said. “A gift of this size helps ensure Y experiences are enjoyed by future generations to come
The gift will help with a number of building issues.
“This will be used for building projects for additions, for maintenance HVAC roofing paving those type of large projects,” said Buckley.
The building housing the YMCA has a swimming pool, gym, and other athletic facilities. It was built over 40 years ago, so the building is showing it’s age.
The gift will be made over three years, with $3 million the first year, and $1 million each for two years.
A committee has been appointed to decide how best to use the gift to improve the YMCA.
The Mannatts gave the gift with no strings attached, they did not seek anything to be named for them, or even have a special ceremony. Buckley said their concern was to help the community of Newton.