CEO DATELINE - American Horticultural Society puts historic HQ up for sale
CEO DATELINE - American Horticultural Society puts historic HQ up for sale
- January 26, 2021 |
- Walt Williams
The American Horticultural Society has put its headquarters—a Virginia farm once owned by George Washington—up for sale as the COVID-19 pandemic has taken a toll on the nonprofit's finances.
Consider joining CEO Update. Membership gives full access to the latest intelligence on association management, career advancement, compensation trends and networking events, as well as hundreds of listings for senior-level association jobs.
AHS recently listed River Farm outside Alexandria, Va., for $32.9 million, according to the Washington Post. The potential sale has stirred outcry among critics who worry the land will be dozed over for a subdivision or commercial development. The organization has stressed the farm will remain a single-use property, preferably with continued public access.
AHS purchased River Farm in the 1970s thanks to a donation by one of its former board members. However, the group's finances have dwindled in recent years, with the pandemic dealing a particularly brutal blow, and AHS says it can no longer afford to maintain the property. The organization announced in September 2020 its intention to sell the farm.
"The funds raised will allow our nonprofit to create an endowment that will ensure our organization and our programs can continue indefinitely," AHS Board Chair Terry Hayes said in a Dec. 22 statement.
The 28-acre property was once one of five farms owned by Washington and his family, according to the Post. The surrounding community thinks of it as a public park and many events are held there. Perhaps its most distinctive feature is an 11,086-square-foot stone manor with six bedrooms and 10 bathrooms.
ASH, a 501(c)(3) organization, reported $3 million in revenue in its 2019 tax filing.
MORE CEO DATELINE