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Allegan, MI – Excitement is brewing at the Allegan County Community Foundation. A simple exercise in fiscal stewardship revealed to the Board of Trustees that, when compared to leasing or building new offices, the cost of staying at the Marshall Street location would exceed leasing or building by more than $375,000 over the next 25 years. “Once we saw the numbers, the responsible decision was clear,” shared Theresa Bray, ACCF CEO. “Not only do we save $375,000, but by endowing the proceeds of the sale, more than $328,000 would be generated to grant to the non-profit community AND the endowment will have grown to over $457,000! If we were to remain, we would be sitting on a stagnant asset (the building) and diminishing our ability to be responsive to community needs.”
“It will be bittersweet to leave this beautiful, historic building but we appreciate the opportunity to have cared for it for 17 years. I am proud of our board and staff for taking on this exercise of fiscal responsibility. The decision to move forward represents an authentic respect for our donors and our mission,” stated Bray who has been with the ACCF since 2000. “Moves and change can be difficult, but when it is the right thing to do we embrace it and get ready for the next chapter. Where are we going? There are a few options at the moment. We want to capitalize on the strong housing market while we seek the best option for the Foundation.”
When the ACCF moved to the Marshall Street location in 2001, they administered $6M in community funds with a staff of three. Today they administer $20M with a staff of three. “We are having growing pains. In 2018 we will be granting more than $360,000 to non-profits, awarding nearly $300,000 in scholarships, and continuing to support creative and impactful initiatives like the Allegan County Food Pantry Collaborative,” offered Board President, Jodi White.
For more information, please contact Theresa at the ACCF 269.673.8344 or listing agent Carol Sneller at Sneller Real Estate 269-720-0580 (cell) 269-355-1919 (office) www.snellerrealestate.com. MLS# 18010610
Allegan County Community Foundation
524 Marshall Street
Allegan, Michigan 49010