This story was originally published in our Spring 2022 REPORT Newsletter.
In the early ‘90s, the Community Foundation’s Van Dusen Endowment Challenge was initiated as a joint effort with The Kresge Foundation to build endowment funds to benefit area nonprofits.
The Challenge honored the late Richard C. Van Dusen, who was a corporate executive, civic leader, and Kresge Foundation trustee widely respected for his efforts on behalf of the metropolitan Detroit community. Richard’s wife, Barbara, serves on the Community Foundation Board of Trustees.
When the Challenge concluded, some 38 participating organizations began growing their endowment with the Community Foundation and $50 million was raised.
Today, more than 230 nonprofit organizations are building endowment with the Community Foundation to support their general operations or a specific program.
Each endowment fund benefits from the strength of the Community Foundation’s $900 million endowment pool, sharing pro rata performance and expert investment counsel.
Organizations also have access to planned giving assistance, and organizations with funds above $100,000 can offer charitable gift annuities for their donors.
The Community Foundation also assists with other tools such as marketing and online giving.