THE PROJECT: Establish a Permanent Endowment Fund
The community foundation is still taking donations for the endowment fund:
In December 2006, the East Grand Rapids Community Foundation established a permanent source of funds that will allow EGR to maintain and augment the civic enhancements which are so unique to our community. The reason for the EGRCF’s formation is based on a variety of observations:
- Frequently, city enhancements arise which fall outside of the city’s budget and which are, when taken individually, of lower dollar values. These sorts of enhancements, when taken together, can constitute a more significant financial impact. These types of “one-time” expenses do not lend themselves very well to capital raising campaigns.
- With budget issues becoming more and more pronounced at all levels of government, the city’s needs will only increase over time to maintain the special elements that make East a premier community.
- Neighboring communities have had foundations in place for many years and have shown how well foundations of these types can use their income to fund small projects with local committee oversight.
The foundation offers annual members at several levels:
- $500+ Gaslighter
- $250-$499 Ramona Member
- $100-$249 Derby Racer Member
- $50-$99 Steamboat Member
- $25-49 Cupola Member
The community foundation is still taking donations for the endowment fund:
