Platte City, MO (September 5, 2014) – The National Association of Farm Broadcasting (NAFB) has purchased the current headquarters professional office building in Platte City, Mo. The purchase was made after a lengthy discovery phase starting last December by the NAFB Executive Board, Executive Director, association advisors and an Exploratory Committee. The Board of Directors approved the purchase decision during the Summer Board Meeting, July 24, 2014. “We reviewed the facts, budgets, and income opportunity from the professional office building in Platte City and it just made sense for the association,” says Janet Adkison, 2014 NAFB President. “The operating profits from the building will allow NAFB to continue to enhance services we offer our growing membership.”
NAFB moved their headquarters to Platte City, Mo in 2002 from Minneapolis, Minn. and over the course of the last 12 years, rent costs continued to increase. The building purchase will offset raising rental costs, stabilize yearly expenses and help generate additional income opportunities for the association. “As we explored the building purchase, my goal for the association was to control raising operating expenses while maintaining the stability of the association,” says Tom Brand, NAFB Executive Director. “NAFB has a strong 70-year history, and we look forward to a stronger future with solid financial footing.”
During the exploratory phase, association advisors recommended the building be purchased under a LLC, separate from the NAFB with its own Board of Directors. NAFB Properties, LLC Board of Directors include Tom Brand, Chase Adams and Kyle Bauer. “The purchase of the property was made possible with earnings NAFB has managed and grown over the last 15 years,” says Gene Millard, NAFB Financial Advisor. “The building is just north of the Kansas City Airport, with easy access to the interstate, and the area around the building continues to grow making the purchase a wise long term investment decision for the association.” The building is fully rented, with long-term leases that will contribute to investment earnings for the association.
The building will continue to be managed by Martin Midwest, taking care of day-to-day issues with property management. Current tenants in the building include; a dentist, CPA firm, pediatrician, and a financial services business. The professional office building is next to the local school district administration office and additional school buildings.
“I’m excited about this next step forward,” says Tom Brand. “The additional income stream will allow NAFB to continue to expand on services and membership benefits. The association is committed to its members, and investing in their future and the future of farm broadcasting. The purchase doesn’t change current operating procedures or change amount of dollars invested in industry research or other member services provided to our members. It only strengthens the financial footing of NAFB.”
The office staff can be reached at (816) 431-4032. The office address is 1100 Platte Falls Road, Platte City, MO 64079.
About the National Association of Farm Broadcasting
The National Association of Farm Broadcasting is a 501(c)(6) professional organization whose mission is to lead, promote, and support growth in agricultural and rural broadcasting for the benefit of our members, audience, and industry.
Contact
Tom Brand, Executive Director
tom@nafb.com
(816) 431-4032
