Southfield Community Foundation Merges with Community Foundation for Southeast Michigan
Detroit, MI, July 16, 2014 --(PR.com
)-- The directors of the Southfield Community Foundation have elected to become part of the Community Foundation for Southeast Michigan and transfer its assets to the larger foundation. The directors were driven by the goal of reducing operating costs and overhead, while increasing the resources available to benefit the residents of Southfield and Lathrup Village. The Southfield Community Foundation has a 25-year history of service to its community and had $1.963 million in permanently endowed assets.
“Merging our funds with the Community Foundation for Southeast Michigan will provide the resources and expertise to protect our charitable assets and maximize their impact in the community,” said Raquel R. Robinson, president and CEO of the Southfield Community Foundation. “We will benefit from their outstanding investment performance and their knowledge of Southfield, where they already make significant grant investments each year,” she added.
The donor intentions and purposes stipulated for the Southfield Community Foundation funds will be honored in perpetuity. Grants from the “Southfield Community Foundation Legacy Funds” at the Community Foundation for Southeast Michigan will be made per each donor’s intentions and in compliance with applicable laws governing such funds and Community Foundation for Southeast Michigan policies. Donors can continue to make designated contributions to the Southfield Community Foundation Legacy Funds at the Community Foundation for Southeast Michigan.
To help Southfield organizations and individuals apply for scholarships and grants, the Community Foundation for Southeast Michigan will hold an informational workshop in the fall. The Southfield Community Foundation offices are now closed, but inquiries can be directed to 313.961.6675. Information can be found at https://cfsem.org/about-us/affiliates/southfield-community-foundation-legacy-funds.
“The Southfield Community Foundation has been serving the community for more than 25 years and we are honored to continue the work of enhancing the lives of the people of these communities,” said Mariam C. Noland, president of the Community Foundation for Southeast Michigan. “The staff and directors of the Southfield Community Foundation have worked hard to ensure a smooth transition. We look forward to increasing our existing grantmaking in these communities and working with donors and nonprofits to take advantage of the benefits that come from this transition.”
The Community Foundation for Southeast Michigan is a full-service philanthropic organization leading the way to positive change in our region. As a permanent community endowment built by gifts from thousands of individuals and organizations committed to the future of southeast Michigan, the Foundation supports a wide variety of activities benefiting education, arts and culture, health, human services, community development and civic affairs. Since its inception, the Foundation has distributed more than $600 million through more than 47,000 grants to nonprofit organizations throughout Wayne, Oakland, Macomb, Monroe, Washtenaw, St. Clair and Livingston counties. For more information, please visit www.cfsem.org.