Building Purchase!

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We Bought the Building!

 

1511 Mission Dr., Solvang, CA

 

Thanks to many wonderful, generous supporters, on March 31, 2017 the Wildling Museum of Art and Nature purchased the building in which it had rented its facility for several years.  The building includes two tenants, Blue Sky Mortgage on the Fifth Street end and Lemos Pet Supplies on Mission, at the other end.  That’s right–not only did the Wildling stop paying rent, it also became a landlord!

This was a tremendous undertaking for the Wildling and its most ambitious capital campaign to date. They raised $1.8 million in gifts and pledges which enabled them to put $1 million down on the $2.8 million building and then secure a 10-year loan for the balance of $1.8 million.  The purchase has already improved their finances, but the full benefit of outright ownership will not be realized until the loan is fully repaid. 

Thanks to their lender, the Adams Legacy Foundation, each year the loan is paid down, the interest owed will be reduced annually, giving them great incentive to pay off the loan as early as possible. 

If you’d like to support the Wildling in their efforts to pay off their loan and achieve financial sustainability, donations can be made in a variety of ways.  One-time gifts, or multi-year pledges are still being accepted.  Stock gifts or other creative ways to make donations are also welcomed.  Call executive Stacey Otte-Demangate if you’d like to discuss at 805-686-8216 or email her at stacey@wildlingmuseum.org. 

The Wildling Museum is a 501 (c)(3), Federal ID 77-0470520 and donations are fully tax deductible.