Gladwin County Endowment Fund Event a Success

participants enjoying the michigan flavorsThe Gladwin County Endowment Fund held its second annual friend raising event at the Beaverton Community Center on March 12 with 80 residents from around the County and special guests in attendance, enjoying the flavor of Michigan destinations.  Michigan samples included tastes from  Sugar Springs Golf, Stone Cottage Gardens, Comerica Park, Frankenmuth,  and multiple vineyards and breweries.  Attendees were invited with a trip ticket to Michigan destinations where they were able to sample various flavors of Michigan. The event was held to build awareness within the community about the Endowment Fund and the various programs from Gladwin County that have benefited through grant support.

Established in 1999 the Gladwin County Endowment Fund has assets of over $600,000.00 and makes grants to Gladwin County nonprofit agencies.   The fund is managed by the Midland Area Community Foundation and their portfolio of over 350 other funds.  “This allows our fund to be professionally invested and managed along with many other funds for the best investment returns, even though we’re very independent”, said Terry Brokoff, current Chair of the fund committee.

The Gladwin County Endowment Fund committee has a goal of reaching $1,000,000 dollars over the next few years.  “If we can reach that amount, we’ll be able to offer about $50,000 in grants annually back into the community, according to long time member Scott Govitz.  While that seem like a lot of money, and it is, we’re currently receiving about $100,000 in grant requests annually from County organizations.”

“Imagine how much different our community might look today if we had this fund 40 years ago,” said committee member Pam Cingano.  “Then imagine where the fund will be, with community support to help us grow in the next 40 years.  Think of the amount of support it will be offering the community through grants for improvements” continued Cingano.  The fund spends only a portion of the annual investment earnings, and the remainder, along with the principal amount of the fund, along with any new donations, remains intact to grow for future years meaning larger grants in future years. “We’re very excited about our future and what it will mean for Gladwin County” added Brokoff.