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Home   •   Archives   •   Spokane Edition   —   Special Edition - Tuesday, February 27, 2018

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HUB Sports Center buys back facility from INWCF



Inland Northwest Community Foundation (INWCF) announced today that it has sold the HUB Sports Center building in Liberty Lake back to the 501(c)(3) nonprofit organization that has been operating the multi-purpose facility and its programs since 2007.

In 2011, an anonymous donor created a fund at INWCF to support youth programs and other charitable causes in the community. The donor requested that the fund's first disbursement be used to purchase the HUB building. This coincided with the HUB's operations reaching a breakeven point.

INWCF established a supporting organization to buy the 66,000-square-foot facility in 2012 for $3.2 million, with the intention of giving the HUB time to raise funds to eventually purchase the building. This funding plan provided the HUB the security to accelerate its growth and outreach programs.

Over the past six years, the HUB paid a modest rent to INWCF to occupy the building while it raised funds from private donors, government grants and other resources. In December 2017, the HUB made an initial $1.6 million payment to purchase the building. By mid-2018, they will have paid off an additional $1.3 million. Phil Champlin, HUB Executive Director, said the HUB still needs to raise an additional $300,000 to pay its mortgage in full. Money from the HUB's purchase of the building will return to the anonymous donor's fund at INWCF and be reused to benefit even more people in the community.




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