FuseDSM Dissolution Meeting

Description

FuseDSM Dissolution Meeting

As many of you have been aware, FuseDSM has struggled over the past year. The organization was faced with the same challenges as our members – financial uncertainty and the need to reduce expenses. The national trend for chambers is shrinking membership and resulting mergers, and FuseDSM has experienced the same growth challenges. The Board anticipates this will continue.

Additionally, FuseDSM experienced a key leadership change in 2024. Even with the heroic efforts of Lisa Treptow and Anne Triplett to serve and grow our membership, the challenges are too great for anyone to lead and manage through.

All of these conditions have resulted in the organization reaching a point where it is not financially viable. Considering these challenges and the debt that was incurred prior to and during the leadership change, including a $75,000 loan from the SBA, it was concluded the organization would not be able to continue.

The Board reviewed the various alternatives and decided the best strategic option is to dissolve FuseDSM and as part of that dissolution, sell the assets of the organization. 

Purpose of the Membership Meeting:
The purpose of this meeting is to seek the vote of the membership to approve the Plan of Dissolution.