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MH/RV Hall of Fame - Elkhart

Yahoo Message Number: 6431
RV Business » Board Letter: Hall of Fame's on 'Life Support' » PrintI sure hope they don't have to close down. My family really enjoyed our visit a few years ago. I spent time with the ED as I was on the Board of another Hall of Fame and Museum at that time. The facility in Elkhart had real grandiose plans with a very large extension to the building planned. Things were good and the manufacturers and their execs were making nice contributions. Of course, that ended with the collapse of so many manufacturers. The facility at 56,000 sq ft is probably a lot larger than they need at this time, let alone an addition of another 15,000 sq ft.

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Board Letter: Hall of Fame's on 'Life Support'
Posted By RV Business On February 16, 2011 @ 4:53 pm In Breaking News, News In Focus | 1 Comment
RV/MH Hall of Museum in Elkhart, Ind.
RV/MH Hall of Museum in Elkhart, Ind.

The RV/MH Heritage Foundation Inc.'s Hall of Fame & Museum in Elkhart, Ind., a cornerstone and rallying point for the North American recreational vehicle industry, "is on life support and is close to having to permanently shut down," according to an "angel" letter distributed this week by the foundation's board of directors.
The letter seeking donations from key members of the RV and manufactured housing industries is a last-ditch effort to save the structure - site of last summer's highly publicized RV industry centennial celebration - comes as a surprise to many in the industry.
"Without an immediate infusion of cash contributions and pledges of long-term commitments from industry supporters, the Hall will be closed forever in a matter of weeks," the letter states. "The building will be put up for sale, our historical artifacts and documents will be dispensed with and the majestic museum will be gone forever, another victim of the economic recession."
The letter regarding the Hall of Fame's plight was signed by Executive Director Tom McNulty, who recently replaced veteran exec Carl Ehrey, and co-signed by the eight-member board. "It will be a horrible tragedy that I am sure none of us want to witness and it will be a setback that will obviously reflect negatively on our industry just as we are attempting to send out a message of recovery," the letter adds. "But, it is reality, and it's banging at our door."
In early 2007, the foundation moved into its new facility on Elkhart's northeast side. The 56,000-square-foot building houses the RV/MH Hall of Fame honoring industry leaders, a museum of vintage units from 1913 up to the 1970s, a Go RVing Hall showcasing the latest current models, an Exhibitors Hall where industry supply firms tell their company stories and the world's largest library of RV and manufactured housing related literature and photos. The RV/MH Hall of Fame, established in 1972, has honored 322 industry leaders with enshrinement into the industry hall of fame.
To stave off the hall's closure, organizers are seeking assistance from industry allies across the U.S. and are hoping to set up a "summit" meeting next month in Elkhart to rally support. The goal is to raise $5 million, which would more than cover outstanding debts of $1.2 million to 1st Source Bank and more than $3 million to other creditors while laying the groundwork for future expansion.
Hall of Fame sign along I-80/90
Hall of Fame sign along I-80/90

They are seeking benefactors to provide a tax-deductible gift or "become an owner/investor/landlord until the market turns around or the Hall of Fame buys you out."
A "Five Million Dollar Club" has been established to honor and recognize all who are in a position to help resolve the financial crisis
"We have a meeting scheduled with our bank for mid-March and if we do not have a solution by then, we will be out of cash by the end of March and our industry's museum will be nothing more than a memory," the letter continues.
"We are seeking donations of all sizes, of course, but what we really need is for the pioneers and leaders of this industry to band together and step up in a major way as 'angels' to the museum. Immediate cash and long-term pledges of support are equally necessary and the Hall of Fame's executive committee is also willing to consider selling the building to an "angel" who would be willing to become the museum's landlord."
Industry insiders, meanwhile, indicate that the current financial dilemma has been in the making for several years.
"It's interesting what has happened," reports Heritage Foundation President Bill Garpow, who serves as executive director on a full-time basis of the Recreational Park Trailer Industry Association (RPTIA). "We've gone from a viable organization to one that suddenly had most of its income streams taken away."
In general, he explained, the global recession has limited the flow of benefactors' gifts and pledges from both those industries to the non-profit facility along the Indiana Toll Road on the north side of Elkhart.
In February of 2010, the HOF Foundation applied for a $6 million, 30-year loan through the U.S. Department of Agriculture to finance its obligations and complete construction of the HOF facility.
One of the early RV exhibits in the hall.
One of the early RV exhibits in the hall.

That loan, a critical step in saving the Hall of Fame, would be backed by the federal government and comes with an 80% guarantee to the lender who makes the loan.
"It would be enough funding for the organization to almost pay all of its debts and have enough funds left over to complete the 15,000-square-foot exhibition hall on the manufactured housing side and put together the show grounds," Garpow, based in Newnan, Ga., told RVBUSINESS.com.
While the foundation garnered endorsements from several U.S. law makers friendly to the RV industry, that loan has yet to be approved.
Last year, moreover, the HOF foundation sustained another setback with regard to its annual fund-raising raffle when the state of Indiana determined that it could no longer collect funds for the drawings using credit cards. "It had to be by cash or check," said Garpow. "It didn't work too well for folks who were used to the credit card method. It cut the profit potential. We're still trying to do it, but are not having much success."
The foundation's financial picture was thrown yet another curve last year after the death of benefactor Robert "Boots" Ingram.
Ingram, founder of now defunct Teton Homes in Wyoming, made a generous loan of $3 million to finish the RV exhibition hall, subsequently named in his honor. Ingram loaned $1 million at 6% interest and another $2 million interest-free. Both loans are due in July 2012.
Ingram had planned to help the foundation board wage a campaign to raise funds to finish construction and development of the hall, but became ill and passed away in September. "When we lost him, we lost a champion," Garpow said.
Now Ingram's family wants the loans repaid and insists their claim be ahead of the bank's. Garpow says it's just one of those things and that he understands the Ingram family's position. "We don't want to make the Ingram family into ogres because they're not, in any way, shape or form," Garpow said.
The foundation, at the same time, has an outstanding debt to RV historian David Woodworth who sold his collection to the museum.
Prior to the Ingram and Woodworth loans, Garpow noted, the foundation was debt-free.
Suffice to say, the board has voted not to accept any new gifts in the form of loans, he added.
The loan to 1st Source Bank is due March 15. "We either come up with something that looks good to the bank or they have the right to demand payment," noted Garpow. "Are they going to do that, I don't' know."
While all this is going on, McNulty points out, the Hall of Fame remains a busy and profitable place on a day-to-day basis.
Several industry shows have been held at the hall, and a church has been holding its weekly Sunday morning worship services there since last year. Weekday visitation, largely by Toll Road tourists, has actually increased.
"We more than doubled the number of venues we have booked for this year. It indicates it is starting to come to fruition," he said. "We've had a lot of interest from all sorts of organizations that are interested in renting from us, from boat show and snowmobile shows."
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