Red Flag Alert! With the departure of its executive director, is the Sacramento Zoo's $50 million fundraising effort in a death spiral?
https://www.elkgrovenews.net/2024/10/red-flag-alert-with-departure-of-its.html
Today, the Sacramento Zoological Society (SZS), the operator of the Sacramento Zoo, announced the departure of its executive director, Jason Jacobs. The announcement did not say if Jacobs was terminated or voluntarily resigned.
As is typical with these abrupt executive changes, the announcement said Jacobs desired to spend more time with family. In this case, Jacobs is reportedly moving to Florida.
While the closer or spending more time with the family malarkey is business-speak, indicating a less-than-harmonious separation, it cannot be confirmed that Jacobs was pushed out, but it sure looks that way.
Regardless, you must wonder why Jacobs left just as the SZS is embarking on its historic $300 million venture to relocate from Sacramento's Land Park location to a facility that will be at least four times larger in Elk Grove.
First, let's consider Jacobs's age. Physically, he appears to be in his late 30s or early 40s - the prime time of any professional career.
The Sacramento Zoo relocation project will take at least 10 years to complete. So, if Jacobs were to stay on, it would take him to roughly his early 50s.
If Jacobs could shepherd this project from start to finish, it would be a career-defining achievement. He could be in his early 50s, and if this project succeeds, it will be the first new American zoo in decades - no small feat.
At that point, Jacobs could write his ticket for a fat payday. He could move on to a larger zoo that needs a turnaround or become a high-paid consultant.
Given that the project will be a career-defining move for whoever manages it, could Jacobs see the pitfalls and be concerned that an imminent failure would stain his career? Getting out before the project moves too far forward and collapses could be his frame of mind.
Another thing worth considering is the $50 million that the SZS has committed to raising is beyond realistic. Holding fundraisers for two nights at three Wendy's stories is more akin to a junior high school cheerleader uniform activity than a serious effort to secure $50 million.
Maybe Jacobs realized that raising $50 million in a metropolitan area filled with state agencies and no significant Fortune 500 company presence, much less a headquarters is the same as squeezing blood from a rock. It is an almost impossible task.
Conversely, could the SZS board of trustees be unhappy with Jacob's fundraising effort—or lack thereof—at this early stage and decide a change is needed? After all, Jacobs told the Elk Grove City Council he would raise the funds by any means necessary (see video below).
The sudden change indicates that things are askew for the SZS and their partner, the city of Elk Grove, which will issue $114 in bonds once the $50 million is secured. Additionally, two elected officials familiar with the project have told Elk Grove News they fear that if the SZS does not raise the $50 million, Elk Grove Mayor Bobbie Singh-Allen and Councilmen Rod Brewer, Sergio Robles, and Darren Suen will issue more bonds to cover shortfalls.
This removal of Jacobs as executive director is a significant change for the zoo relocation project, but not in a good way for Mayor Singh-Allen and the SZS.
We can't help but wonder if this is the first step in what could become the SZS $50 million fundraising death spiral.
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1 comment
Oh, this is not good.
The SZS leader is bailing out and getting the Hell outta Dodge. Like the article surmises, this is a sign the SZS is likely falling way short of it's promised $50M which leaves EG taxpayers responsible for the shortage. BSA and her CC minions have screwed up again, this time on a Bunyan-esc level. This will cost every taxpayers thousands of dollars to make up the difference! BSA has to go!
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