October 2, 2017
RMEF Erases Long-Term Debt, Pays Off Headquarters
MISSOULA, Mont.—The Rocky Mountain Elk Foundation is free of any and all long-term debt after making the final payment on its headquarters facility.
“For the first time ever, RMEF has no remaining long-term debt on our books,” said David Allen, RMEF president and CEO. “This is a tremendous accomplishment and milestone!”
RMEF began operations in May of 1984 in a doublewide trailer just outside of Troy, Montana. The organization soon grew to cover three buildings in Troy—a vacant dentist’s office, a mini mall and an abandoned grocery store. In 1988, RMEF moved 180 miles south and east to Missoula where it set up shop in a former warehouse.
In 2005, RMEF received a generous 22-acre land donation and built its current 40,350-square foot national headquarters and Elk Country Visitor Center. Additionally, it constructed its 23,556-square foot RMEF Distribution Center next door that serves members, volunteers, staffers, partners, sponsors, shoppers and many other supporters.
“This would not be possible without the hard work and dedication of RMEF volunteers, members, donors and staff. This is also a testament to the financial health and stability of RMEF,” said Allen.
The headquarters loan was scheduled to be paid in full in September of 2019. Upon evaluation of RMEF’s current cash position and analysis of paying off the loan versus carrying the interest to term, it was deemed prudent and appropriate to pay the loan off two years early.
“Paying off this loan early enables RMEF to shift the mortgage and interest investment to where it belongs, the mission. There is no question this is a great day for elk, elk country and our hunting heritage,” added Allen.