A board member of the Tacoma Tall Ships Organization will head a resource action committee that will raise funds to pay down the deficit from July’s festival and collect donations toward the 2011 event. Already, one anonymous donor has stepped forward with a $100,000 pledge.
Mike McLeod, a commercial real estate developer, will work full-time for the nonprofit organization over the next two months, board members said Tuesday. Tall Ships ran a $500,000 deficit on a $2.5 million budget.
Thirty-five creditors – mostly smaller companies and individuals – have been paid, with 63 still outstanding, board co-chairman Stan Selden said. The organization still owes about $450,000, $50,000 less than the initial deficit organizers announced last month. The nonprofit has received additional payments and bills since then, Selden said.
McLeod was five weeks into a three-month vacation when he decided to return to Tacoma and work to pay down the deficit.
"Bottom line is I couldn’t relax," he said. "I wasn’t comfortable. We cut the trip short by about a month to come back and work on it."
McLeod will approach sponsors from this year’s event and ask them to sign up early for 2011. One such deal he’s proposing to sponsors is a four-year commitment: help toward the deficit this year, money toward organizational operations in 2009-10 and donations toward the event in 2011.
The nonprofit has already received one large gift: An anonymous woman gave $100,000 earmarked for The Pollard Group, the Tacoma printing firm.
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