He said the centre had no money to cover the $20,000 a month required to cover the centre's overheads, vet bills, animal feed and welfare inspectorate.
He urged the crowd not to focus on "finger-pointing", but to come with workable, financially sound solutions.
"At this point, there is no white knight coming riding over the crest of the hill, with a bag of gold," he said.
"It's now up to you."
The mood darkened shortly afterwards, with one woman demanding to know what it had cost to "pay out" former manager Lloyd Warren, and how much was spent on legal fees.
Others confronted the issue of the SPCA's lack of openness regarding its financial trouble - with a former volunteer saying it was the "least proactive" with public fundraising of all charities she'd been part of.
SPCA op shop manager Fleur Harlick said the community had been reluctant to donate, as they "didn't know where the money was going".
The meeting resolved to create a working group to manage the centre's finances, publicity and fundraising efforts.
Former vet John McLaren said such a group would need people with "very particular skill sets".
"It's not enough to care about animals - we need people who have business acumen and are prepared to make the tough calls."
The working group would be "no more than 10 people", with candidates screened by the national office.
A large number from the meeting put their names forward.
Wairarapa SPCA's website was to be shut down, said website manager AJ Hunter. But a man, wishing only to be known as Ian, pledged money to keep it running for the rest of the year.
Mr Hunter said he had tried recently to do some press releases, but had been warned against it by interim centre manager Ben Lakomy "on orders from the [Wairarapa SPCA] committee".
Other ideas raised were setting up an "ERO-like organisation" to vet the centre's performance, and the possibility of setting up a Wairarapa-run animal rescue charity, independent of the SPCA. At the end of the meeting, Mr Odom provided assurance the national office would continue to fund an animal welfare inspectorate service on an emergency basis.