Detroit Homecoming Fund of the Community Foundation for Southeast Michigan
The Community Foundation for Southeast Michigan and Crain’s Detroit Business have agreed to establish the “Detroit Homecoming Fund” as a means for attendees of Homecoming to join together to support charitable organizations involved in revitalization of metro Detroit and in improving the quality of life of its residents.
Structure: The Detroit Homecoming Fund has been established as a non-endowed donor advised fund of the Community Foundation.
Anyone contributing $5,000 or more to the Fund will be deemed a “Donor Advisor” to the Fund. Each Donor Advisor will be given the opportunity to recommend by vote the grants to be made from the Fund from a list of potential grantee organizations that will be identified by the Community Foundation. One vote per donor of $5,000 or more will be granted – regardless of the amount contributed.
Others can contribute less than $5,000 to the Fund – but will not participate in the voting on the grants to be made from the Fund.
Neither the Community Foundation nor Crain’s will be advisors to the Fund. A minimum of $50,000 is being targeted to be raised for the Fund in connection with “Detroit Homecoming 3.”
Grants process: Staff of the Community Foundation, in consultation with Crain’s, have prepared a list of five nonprofit programs for consideration by the Donor Advisors to the Fund. These nonprofits represent charitable areas of interest identified by Homecoming participants. The list of nonprofit organizations being considered can be found below.
Each Donor Advisor would be allowed to cast a vote (electronically) for the nonprofit that they recommend to receive a grant from the Fund. Based on vote totals, and amount raised for the Fund, one to three grants would be made from the Fund to those nonprofits receiving the most votes cast.
Report to donors: All donors to the Fund will receive by email a report from the Community Foundation describing the grants made from the Fund. The Community Foundation will provide information prior to the next Homecoming Event summarizing the progress made by the nonprofits receiving grants from the Fund on their projects funded.
Gifts to Fund: Gifts will be accepted online using the form below or, for gifts greater than $10,000, please send a check payable to the “Community Foundation for Southeast Michigan” with “Detroit Homecoming” and your email address noted on the memo line. Checks should be mailed to the following address:
Community Foundation for Southeast Michigan
333 West Fort Street, Suite 2010
Detroit, Michigan 48226
Checks should be postmarked by September 30, 2016 and must include an email address if you wish to vote on the grants to be made from the Fund.
The Community Foundation will provide tax-deduction gift receipts.
Fees: The Community Foundation is waiving its normal administrative fees for the Fund. However, any amounts contributed by credit card will be charged standard credit card processing fees, and only the net amount of those credit card gifts will be available for grants from the Fund. Both the Community Foundation and Crain’s are publicizing the availability of the Fund free of any charges to the Fund.
We hope that you will participate as a Donor Advisor to the Detroit Homecoming Fund of the Community Foundation for Southeast Michigan. Thank you for your interest and support in your and our hometown!
Please contact the Community Foundation for Southeast Michigan at 313.961.6675 if you have any questions about the Fund.