United Way of Brazos Valley experiencing financial hardships
UPDATED: Wednesday, April 25, 2012 - 11:14pm
COLLEGE STATION -- It's been a rough few months for the United Way of the Brazos Valley and the agencies that they fund.
Since December, the United Way has been unable to write their usual monthly checks to 25 local agencies and they haven't issued the quarterly payments they give to another 24, making it difficult for these non-profit organizations to operate.
The United Way of the Brazos Valley is behind by at least $300,000 and Ken Fogle, the chair of the board, contributes a lot of the problem to a bad economy and the fact that they aren't getting the donations they once did.
"That's the issue that we're dealing with and specifically, when you look at pledge loss, in a good economic time you're going to have some level of loss but when the economy takes a down turn that number increases significantly and that's exactly what's put us in this situation today."
Fogle also said that today the United Way was able to pay back one month's worth of what each agency typically receives.
He also adds that there's no sign of theft or fraud within the organization.