The organizers who want to purchase Mt. Bachelor ski area from Powdr Corp. are pressing forward and hope to make a bid by the end of the year.

They formed a for-profit corporation that will enable them to move forward more quickly than if they attempted to file for nonprofit status.

They have plugged in key people to help with the effort. And they’ve created internal financial models necessary to show investors what the operations might be before making a bid.

The type of corporate filing supports the local group’s mission of environmental stewardship and community access, organizers said.

“It’s a timing issue,” said Chris Porter, one of the main organizers of the local effort, called Mount Bachelor Community Inc.

“We originally wanted to go not-for-profit, but after talking to state government officials, they said we didn’t have the time to do it. It’s a complicated process. The B corporation status was our recommendation.

“It offers the same benefits of focusing on the environmental aspects.”

A B corporation is a company that is driven by both mission and profit, according to the U.S. Chamber of Commerce.

As of Tuesday, the ski area’s owner, Powdr Corp., had nothing new to report or to disclose publicly, said Stacey Hutchinson, Powdr Corp. vice president of communications and government affairs.

The local group feels that if there was an immediate buyer in the wings, a move would have been made already, Porter said.

Armed with financial disclosure documents, the Mount Bachelor Community Inc. feels the value is somewhat less than the value of a ski resort with lodging like Vail, said Porter.

“After reviewing the prospectus, and with the deferred maintenance we know about, our modeling tells us we’re looking at offering north of $150 million,” Porter said. “The people are so passionate about owning this mountain.

“We’ll come in with the highest bid.”

The Utah-based Powdr Corp. announced in August that it would put Mt. Bachelor and Sun Country Tours, a Bend-based tour operator, up for sale to focus on other aspects of its operations. It intends to divest itself of Mt. Bachelor and two other ski resort properties in Colorado and British Columbia. It already sold Killington Resort and Pico Mountain in Vermont, the largest mountain resort in New England, to a group of local pass holders, the Associated Press reported

Mt. Bachelor has been under the ownership of Powdr Corp. since 2001. Before that, it was owned by a group headed by the family of Bill Healy, founder of Mt. Bachelor, and the Papé Group of Eugene.

Mt. Bachelor plays an integral role in the Central Oregon economy. It is the second largest employer in the region in 2024, employing 1,117 people.

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Because the ski area is such a large employer, Porter said a goal of the community ownership is to not only employ those in the lower rungs of the operation, but to hire locals for the management team.

Advantages of incorporating

As a so-called B-corp, the founders can maintain a mission and still earn profits. Some of the financial plans include selling shares of stock to ski pass purchasers as a way to raise revenue and ownership.

The group is shooting for a bid by year’s end, Porter said. The closing on a deal, if one is reached, will not happen quickly. When Powdr Corp. sold its Killington ski area it took more than a year, Porter said.

The community group has lined up accredited investors to help fund the proof of funds needed to initiate the purchase.

“We have some proof of funds, but we have a ways to go,” Porter said.

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Jen Steward, a financial officer working at Mount St. Helen’s Institute, an educational and recreational nonprofit, has offered her financial knowledge to help the Mount Bachelor group.

Her role is ensure financial transparency, Steward said.

“The B Corp (designation) gives it the stewardship mission and works side by side with a nonprofit that looks at conservation and education and can be set up at a later time,” Steward said. “The B-Corp creates a revenue stream.”

If the ski area is acquired, the local ownership group can establish a nonprofit organization to support education and stewardship, Steward said. In the Pacific Northwest there are other conservation groups, such as the Friends of the Columbia Gorge, that focus on stewardship through a nonprofit, Steward said.

“These groups support the recreation or educational component,” she said. “They’re a separate organization that runs as nonprofit.”