187 24 26018 https://digitalcollections.library.gvsu.edu/files/original/5687d0f9891cc78daade7201f0559588.pdf 71a7f1d987e6fca7eb979b1c3945aec7 PDF Text Text Council of Michi an CiV Foun~ations Serving grantmakers. Advancing giving. March 6, 2007 Memo to: Diana Sieger, Chair and Members of the Board of Trustees From: Rob Collier, President cc: Libby Maynard and David Kennedy, Co-Chairs, Government Relations Committee Dave Egner, Co-Chair Public Policy Committee Re: Government Relations Report- Foundations on the Hill Visit 2007 The purpose of this memo is to: report on the February 27 & 28 Foundations on the Hill Visit; request consideration of support for two Washington policy issues- neither of which are on CMF's current Legislative Goals Statement or Public Policy Agenda; provide an update on one Michigan Legislative Goal and request support for reinstatement of the inheritance tax as a Michigan Legislative Goal. I. Foundations on the Hill Visit The largest delegation of Michigan foundation representatives ever - 46 -joined by three CMF staff and Foundation Liaison Karen Aldridge-Eason, participated in the annual Foundations on the Hill visit to our Michigan Congressional Delegation. A participant list is included as ATTACHMENT A. We were pleased to have 14 face to face meetings with members and three with staff. Several members, such as Representatives Upton and Knollen berg, stepped out of Committee Meetings to visit with us. We started our Washington visit with a special luncheon hosted by Peter and Julie Cummings at the Library of Congress. The curator of the maps and geography division brought several special maps of Michigan to share, and the curator for architecture led a special tour. We were then treated to a special visit from the Librarian ofthe Library of Congress, Jim Billington. We easily could have spent the whole afternoon listening to him talk about their efforts to digitize parts of the collection for the Internet and managing 2.5 million new acquisitions a year. Our thanks to Julie and Peter for this special treat! We had three special guests for our dinner on Tuesday evening: Michigan's newest member of Congress Tim Walberg from the ih District (representing Battle Creek and Jackson); Diana Aviv, president of Independent Sector; and Rodney Emery, Vice President of Government Relations for the Council on Foundations. Wednesday morning we cheered Congressman Dave Camp as he received the Friend of Philanthropy Award from the Council on Foundations and Forum of Regional Associations of Grantmakers after speaking to the more than 390 grantmakers from 40 �Government Relations Report March 2007 Page 2 states gathered for this annual event. The award was presented by our Chairperson Diana Sieger and Brian Rodgers, chair of the Midland Area Community Foundation. Our Wednesday morning visits were enhanced with a journalist from Tax Analyst, placed with us for four visits and two Diversity Fellows from the Associated Grantmakers of Massachusetts (AGM) matched with two of our members for visits. Information on Tax Analyst is included as ATTACHMENT B. While we are still collecting feedback from participants, the following three summary learnings are offered: • There is support for extension of the IRA Charitable Provision. Congressional Members were pleased to receive the preliminary list of recipients we have collected, included as ATTACHMENT C. As a next step we need to provide them with several examples of how this gifting opportunity really works. • There seems to be greater interest than before "on both sides of the aisle" in correcting the inequity/unfairness in the excise tax on private foundations. With helpful illustrations from CMF Trustees Dave Egner and Sterling Speirn, several Congressional Members expressed their concern about the chilling impact this tax has on the need for more giving at critical times, such as responding to Hurricane Katrina. As a next step, we need to work with the Council on Foundations in detem1ining how the tax could be simplified at a revenue neutral level. • While Representatives Levin and Camp have both sent letters to the Treasury at our request urging clarification of the new regulations on Donor Advised Funds and Supporting Organizations in the Pension Bill, support for a technical improvements bill to the Charitable Reform Provisions in the Pension Bill is too early to gauge until the Council on Foundations is able to provide draft language for such a bill. I look forward to having participating Trustees share their learnings from the visits as well. Several members have offered useful suggestions on how we can improve the Visits next year: • • • Reduce the number of talking points from six to three; Provide participants with a score card on how our Congressional Members have voted on these issues in the past and whether they are sponsors of proposed legislation; and Further simplify the issue papers so they are less "legalese." In sum, it was a productive Hill visit for all and the feedback we have received from both our members and Congressional Members has been most positive. �Government Relations Report March 2007 Page 3 II. Washington Policy Issues- Extension of the Conservation Easement Provision in the Pension Bill and Federal Support for 2-1-1 Let me first state that there has not been time to vet these two issues with the Government Relations Committee, Public Policy Committee or Land Use Funders Group. However, CMF has been asked by a number of members- both private and community foundations supporting each issue and the local land conservancies and United Ways that are serving as the implementing agencies - to support legislation on these issues as summarized below. The following proposed Resolution combines the issues, however they can be considered individually if the Board would like. On the first issue, we learned from Representative Camp that he will be the lead co-sponsor with Representative Thompson on the House Bill to accompany the Senate Bill already introduced by Senators Baucus and Grassley. This co-sponsorship by Grassley is a dramatic turn around on an issue he opposed a year ago. The Michigan Association of United Ways has developed a Business Plan for complete state 2-1-1 coverage that would cost $5 million annually and have a projected one million users a year. CMF has been asked by members to co-sponsor a briefmg on April 23 for our members in the areas of the State currently not served by 2-1-1 (as indicated in the map, ATTACHMENT D.) RESOLVED that the Council of Michigan Foundations support the Rural Heritage Conservation Act, S. 469 that will support the goals of sustainable land use and conservation promoted by the Land Use Funders Group and other members, and RESOLVED further that the Council of Michigan Foundations support 2-1-1 as an important resource for Michigan residents and therefore supportS. 211 and H.211 the Calling for 2-1-1 Act. Background on Conservation Easements: In January, Senate Finance Committee Chair Max Baucus (D-MT) introduced the Rural Heritage Conservation Extension Act of2007 to make the conservation easement permanent. Finance Committee Ranking Member Charles Grassley (R-IA) cosponsored the bill. The Bush Administration announced that the incentive in the Baucus-Grassley bill is included in their FY 2008 Budget proposal as a featured part of the work of the President's Cooperative Conservation Task Force. In the Pension Protection Act of2006, Congress changed the tax incentive for voluntary conservation donations - donations by private landowners that retire development rights to protect significant w ildlife, scenic and historic resources. That change enables family farmers, ranchers and other moderate-income landowners to get a significant tax benefit for such donations. Most of these donations are made to local, community-based charities dedicated to keeping land in agriculture, conserving important w ildlife habitats and protecting important open space and historic resources. �Government Relations Report March 2007 Page 4 The 2006 law: • Raised the maximum deduction a donor can take for donating a conservation easement from 30% of their adjusted gross income (AGI) in any year to 50%; • Allowed qualified farmers and ranchers to deduct up to I 00% of their AGI; and • Increased the number of years over which a donor can take deductions from 6 years to 16 years. Under prior law, an agricultural landowner earning $50,000 a year who donated a conservation easement worth $1 million could take a total of no more than $90,000 in tax deductions. Under the new law, that landowner can take as much as $800,000 in tax deductions - still less than the full value of their donation but a significant increase. The 2006 law also set higher standards for appraisers and appraisals of all donated property and set higher penalties for abusive appraisals. Conservationists support this to ensure the integrity of the charitable donation process. The law also tightened restrictions on donations of easements to protect historic buildings. These reforms do not expire at the end of this year. Background on 2-1-1: The Calling for 2-1-1 Act was introduced in January 2007 to provide federal financial support to designated state 2-1-1 entities. The bills (H.211 and S.211) have bipartisan support in both houses, with 91 House cosponsors and 31 in the Senate. The Callingfor 2-1-1 Act seeks to authorize federal funding of $150 million for years one and two and $100 million for years three through five through the US Department of Health & Human Services to help implement and sustain 2-1-1 nationwide. States would be required to provide a 50% match in order to draw down the federal dollars. The federal funding can be used for a variety of 2-1-1 related purposes, including but not limited to planning for and implementing 2-1-1 , operating costs, technology upgrades, public awareness, training and evaluation. States' 2-1-1 systems are public-private partnerships, locally designed by community stakeholders to save time and reduce confusion for citizens seeking access to human services. As of January 2007, approximately 65% of the US population had access to 2-1-1 services; 2-1-1 provides an enhanced experience for those seeking assistance and substantial cost savings. Estimated benefits total at least $1 .1 billion over ten years, with almost $ 130 million in the first year alone, according to a University of Texas study. Call centers helped reduce the burden on 9-1-1 operators in the wake of Hurricanes Katrina and Rita, assisting in non-emergency situations with information and referral services. In Michigan, 2-1-1 is currently available to 70% of Michigan's citizens - it streamlines access to needed health and human services. Call centers are staffed by trained specialists who quickly assess callers' needs and refer them to the help they need. It is simple to remember, accessible to everyone at no cost and available 2417 with multilingual capabilities. �Government Relations Report March 2007 Page 5 III. Michigan Legislative Goals SBT Tax Credit for Gift to Endowment Funds Held by Community Foundations Goal 5 of the State Section of the Legislative Goals Statement is: To monitor administration of the permanent community foundation tax credits for individuals, families and businesses and their relationship to current and proposed tax credits. With the decision by the Legislature to eliminate the Single Business Tax (SBT) at the end of2007, the community foundation tax credit in the SBT ($5,000 or 10% of the SBT liability, whichever is less) will be eliminated as well. In meetings with the Speaker of the House and Legislative Leadership, I have been assured that it is their intent to transfer the charitable credits along with other economic development credits to the new tax that will replace the SBT. There is great interest in maintaining these credits as a way of incentivizing corporate giving. At a meeting in January with the Otsego County Community Foundation in Gaylord, the executive director announced to me that the Foundation had just received a donation from a small company using the SBT tax credit to create a scholarship fund with the $5,000 credit leveraging a $1 5,000 gift. Michigan Inheritance Tax The following resolution is recommended for consideration. If approved, this Resolution will become a new Goal in the Legislative Goals Statement. RESOLVED that the Council of Michigan Foundations oppose reintroduction of a Michigan Inheritance Tax, which will encourage Michigan residents to move their primary residence out of state, and encourage reintroduction of the pick up tax as part of the federal estate tax that would place Michigan on an equal level as other states. Background Repeal of the State Inheritance Tax has been listed as an accomplishment in CMF' s Legislative Statement since 1993. However, the Governor has proposed that Michigan decouple from the Federal Estate Tax which would allow Michigan to reinstitute an Inheritance Tax. HB 4377 (ATTACHMENT E), the Michigan Estate Tax Act, has been introduced to address this issue. I have met with Representative Bieda, Chair of the House Committee on Tax Policy and the sponsor, Representative Condino who have agreed to delay a Committee Hearing on this Bill until they can receive more information on the feasibility of reintroduction of the federal pickup tax. Speaker Dillon also acknowledged that he is troubled by the idea of driving wealthy Michigan residents out of state and has requested further information on the impact of this proposed inheritance tax. I have been in touch with the Tax Policy Center for assistance on this matter. A pickup tax provides revenue to the state but does not increase the federal estate tax payment the heirs must make. Instead the estate's federal estate tax liability is reduced by �Government Relations Report March 2007 Page 6 the amount of the state tax payment. This credit dates back to the early 1900's when Congress introduced a federal estate tax guaranteeing states a portion of the estate tax base. Thirty-five states, including Michigan, in 2000 had an estate tax that equaled the amount of the state credit. The Center on Budget and Policy Priorities in Washington reports that Michigan received revenue in 2000 of $187 million from this tax, all of which has now been lost with the changes in the federal estate tax. �CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. IRA Charitable Provision is Increasing Michigan Giving Forty-one respondents to a quick survey confirm that the IRA Charitable Provision is having an impact on growing giving in Michigan. Since the August passage of the Pension Protection Act of 2006, survey respondents report gifts in excess of $1.4 million to nonprofit organizations and community foundations (see list of recipient organizations below). The donors' philanthropic interests - medical research, community development, arts and culture and education - are broad and beneficial for Michigan's citizens. And, this list continues to grow - we hear stOries of new gifts from IRAs every week! This increase in giving in lVIichigan is confirmed nationally by the National Committee on Planned Giving that over $25 million in gifts made by IRAs nationally - ranging from $100 to the maximum $100,000 allowed by law. Charitable giving will continue to increase in Nlichigan if Congress extends the IRA Charitable Provision beyond 2007, lifts the $100,000 cap and allows gifts to donor-advised funds of community foundations and private foundations to qualify. Recipient Organizations Submitted by CMF Survey Respondents Midland Area Community Foundation Community Foundation for Muskegon County Fremont Area Community Foundation Grand Haven Community Foundation Central Reformed Church Davenport University Grand Rapids Art Museum Grand Rapids Civic Theatre Grand Rapids Community Foundation Frederick Meijer Gardens Spectrum Health Foundation Saint Mary's Hospital YlVICA Alma College Interlochen Center for the Arts Lory's Place Michigan Gateway Community Foundation Battle Creek Community Foundation Lenawee Community Foundation Capital Region Community Foundation Community Foundation of St. Clair County Ann Arbor Area Community Foundation Grand Valley State University University of Michigan �HOUSE BILL No. 4377 March I, 2007, Introduced by Rep. Condino and referred to the Committee on Tax Policy. A bi l l to amend 1899 PA 188 , ent i tled " Michi gan estate tax act ," by amending sect i ons 32, 33 , and 56 (MCL 2 05 . 232 , 2 05 . 233 , and 205 . 256 ), sections 32 and 33 as added by 1993 PA 54 and sect i on 56 as amended by 1998 PA 277 , and by adding sect i on 32a . THE PEOPLE OF THE STATE OF MICHIGAN ENACT : Sec . 32 . (1) A-EXCEPT AS OTHERWISE PROVIDED IN SECTION 3 2 A , A tax is imposed upon the trans f er of the estate of ever y person who at the t i me of death was a resident of thi s state . Th e tax i s equal to t he max i mum al l owable fede ral c r edi t under the i nternal revenue code for estate , inheritance , l egacy , and succession taxes paid to t h e states . Thi s tax sha l l be reduced by the amount of all estate , inheritance , l egacy , and succession tax es paid to states other than Hiehi gan THI S STATE , which a mount shal l not exceed an amount equa l to the proport i ona l share of that maximum a l lowabl e f edera l credit t h at the gross value of a l l real and tangible persona l property l ocated in states othe r than thi s state bears to the gross va l ue of all property inc luded in the decedent ' s g r oss estate wherever l ocated . (2) A-EXCEPT AS OTHERWISE PROVIDED IN SECTION 32A , A tax is i mposed upon the t r ansfe r of p r operty l ocated in this state of every per son who at t he t i me of death was not a resident of this state . The tax i s a n a mo unt equal to the propor tional shar e of the file:///SifBoards%20and%20Committees/CMF/Board/2006-07/03. 15.07%20Meeting%20Materials/2007-HIB-4377.htm[ 11/2 1/20 I I II :24:22 AM] �max imum a l lowabl e f edera l credit under the inter na l r evenue code f or estate , i nheritance , l egacy , and s u ccession tax es pai d to the states , that the g r oss value of al l r eal and tang i b l e personal 9 r ope r ty l ocated in this state bear s to the gross value of al l 9 r ope r ty i n cluded i n t he deceden t ' s g ross estate whe r ever l ocated . (3) FOR PURPOSES OF THIS SECTION, THE MAXIMUM ALLOWABLE FEDERAL CREDIT UNDER THE INTERNAL REVENUE CODE MEANS THE MAXIMUM ALLOWABLE FEDERAL CREDIT DETERMINED USING THE ADJUSTED TAXABLE ESTATE DETERMINED UNDER THE INTERNAL REVENUE CODE LESS THE VALUE OF ALL QUALIFIED FAMILY-OWNED BUSINESS INTERESTS AS DEFINED IN SECTION 2057(E) OF THE INTERNAL REVENUE CODE , WHICH MEET THE REQUIREMENTS OF SECTION 2057(B) (1) (D) OF THE INTERNAL REVENUE CODE , 26 USC 2057 , AND TO THE EXTENT THOSE INTERESTS ARE INCLUDED IN THE ADJUSTED TAXABLE ESTATE. SEC. 32A. THE TAXES LEVIED UNDER THIS ACT SHALL NOT APPLY TO TAXABLE ESTATES, AS DEFINED IN THE INTERNAL REVENUE CODE , OF LESS THAN $2,000,000.00 IF THE DECEDENT ' S DATE OF DEATH IS ON OR AFTER APRIL 1, 2007. Sec . 33 . (1) A-EXCEPT AS OTHERWISE PROVIDED IN SECTION 32A, A tax is imposed upon ever y ge ne r at i on-skipping t r a n sfer in whi ch the or i g i nal t r a n sfer o r i s a r es i den t o f this sta t e at the date o f the t r a n sfe r made by t he origina l trans f eror . The tax i s equa l to the max imum a l lowabl e f edera l credit under the inter na l r evenue code for state generation -s k ippi ng trans f er taxes pa i d to t he states . Thi s tax shal l be reduced by the a mo unt of al l gener at i on-ski pping tax es paid to states othe r t han t h i s state , wh i ch amount sha l l not e xceed a n a mo unt equa l to the p r opo r tional s ha r e o f that maximum al l owable fede r al c r edi t t hat t he gross va l ue of a l l t r a n sfe r red real a nd tangible pe r sona l property subject to generation -s k ippi ng t r a n sfe r tax es located i n states other than this state bear s to the gr oss value of al l trans f err ed p r oper ty s ubject to gener at i on s kipping taxes wherever located . (2 ) A-EXCEPT AS OTHERWISE PROVIDED IN SECTION 32A , A tax is i mp osed upon every generation -s k ippi ng trans f er in which the file:///SifBoards%20and%20Committees/CMF/Board/2006-07/03. 15.07%20Meeting%20Materials/2007-HIB-4377.htm[ 11/2 1/20 I I II :24:22 AM] �o riginal t r a n sfer o r i s not a resident of t hi s state at the date of t he trans f er by the o rigi nal t r a n sfer o r b u t in which t he property t r a n sfe r red inc ludes r ea l or tang i ble per sona l property located i n t hi s state . The tax i s a n a mo unt equa l t he ma x i mum al l o wable fede r al c r edi t ~ode to the propor tional shar e of u nder the i nternal revenue f or state generation -s k ipping trans f er taxes pa i d to t he states t hat t he g ross va lue o f a l l t r a n sfer red r ea l and tang i b l e 9ersonal proper ty s ubject to ge ne r at i on-ski pping t r a n sfer tax es l ocated in this state bea r s to the g r oss value of al l transferr ed pr ope r ty s ubject to gene r at i on-ski pping t r ansfer tax es wherever l ocated . (3) FOR PURPOSES OF THIS SECTION , THE MAXIMUM ALLOWABLE FEDERAL CREDIT UNDER THE INTERNAL REVENUE CODE MEANS THE MAXIMUM ALLOWABLE FEDERAL CREDIT DETERMINED USING THE ADJUSTED TAXABLE ESTATE DETERMINED UNDER THE INTERNAL REVENUE CODE LESS THE VALUE OF ALL QUALIFIED FAMILY - OWNED BUSINESS INTERESTS AS DEFINED IN SECTION 2057 (E) OF THE INTERNAL REVENUE CODE , 26 USC 2 057 , WHICH MEET THE REQUIREMENTS OF SECTION 2 05 7 (B) (1) (D ) OF THE INTERNAL REVENUE CODE , 26 USC 2 05 7, AND TO THE EXTENT THOSE INTERESTS ARE INCLUDED IN THE ADJUSTED TAXABLE ESTATE . Sec . 56 . As used i n t h i s act : (a ) " Deceden t " mean s a deceased person a nd incl udes , but is not l i mi ted to , a testato r , g rantor , bar ga i nor , vendor , donor , o r person who d i es intestate . (b ) " Depar t me n t " mean s the b u reau of revenue o f the department of t r easu ry . (c ) " Feder al generation -s k ippi ng transfer tax " means the tax i mposed by chapte r 1 3 of s ubt i t l e B o f the i n ternal revenue code . (d ) " Fede r al return " means a n y United States trans f er tax retu r n i n cludi ng fede r al estate tax r etur ns and gene r at i on-ski pping tax r etur ns u nl ess t he con tex t indicates a simi l ar Mi chigan tax retu r n . (e ) " Gene r at i on-ski pping t r a n sfer " means eve r y trans f e r s ubject to the f edera l gene r at i on-ski pping t r a n sfer tax i n which file:///SifBoards%20and%20Committees/CMF/Board/2006-07/03. 15.07%20Meeting%20Materials/2007-HIB-4377.htm[ 11/2 1/20 I I II :24:22 AM] �t he origina l transferor is a resident of th i s state at the date of t he transfer by the o ri g inal t r a n sfer o r o r t he property transfer r ed i s real o r personal p r ope r ty situated in t hi s state . (f ) " Gross estate " means t he gross estate determi ned under the internal revenue code . (g ) " Inte r na l r evenue code " means t he United States inte r na l revenue code of 1986 , in effect o n Janua r y 1 , 1998 or, at the optioA of the perooAal repreoeAtative 1 iA effeet OA the date of the deeedeAt'o death 2001. (h ) " Intangible pe r sona l property " means inco r poreal personal 9 r ope r ty i ncludi ng , but not l imited to , deposits in banks , negotiabl e in struments , mortgages , debts , rece i vables , shar es of stock , bonds , notes , c r edi ts , evi dences of an inter est in property , evi den ces o f debt , and choses in act i on gener al l y . (i) " Non resident " means an individual who is not a r es i dent . (j ) "Origina l transferor " means any g r antor , donor , trustor , testato r, or pe r son who by g r a n t , gift , trust , wi l l, o r otherwi se , makes a t r a n sfe r of real o r personal p r oper ty that resu l ts in a f edera l gene r at i on-ski pping t r ansfe r tax. (k ) " Pe r son " mean s an indi v i dua l, firm, par t ner s hip , joint ventu r e , associat i on , corpor at i on , l imited l i abi l ity company , :ompan y , estate , or any other group o r combinat i on act ing as a unit . Per son does not i nclude publ ic cor porations . (/ ) " Personal repr esentative " means t he per sonal r epresentat i ve appo i nted by the p r obate cou rt , inc luding an i ndependent per sona l rep r esen tative , or , i f a persona l r epresentat i ve is not acting , t he n a n y pe r son who i s i n t he actua l or construct i ve possess i on of a n y property inc luded in the g r oss estate of the decedent o r any other per son who i s requ ired to fi l e a retur n or pay the taxes due under any p r ovi s i on o f this act . A safe and col l atera l depos i t :ompan y , t r ust company , cor poration , bank , o r other institution i s not the personal rep r esen tative of p r oper ty he l d in a safe depos i t box or of money o r p r ope r ty o n deposit if the indicated owne r ship o r registe r ed title denotes ownership by ri ght of s u rvi vorsh i p . A file:///SifBoards%20and%20Committees/CMF/Board/2006-07/03. 15.07%20Meeting%20Materials/2007-HIB-4377.htm[ 11/2 1/20 I I II :24:22 AM] �safe a nd col l atera l depos i t compan y , t r ust company , cor poration , bank , or othe r i n st i tut i on is the personal represen tative of p r ope r ty t hat i t repr esen tative , or , i s hol d i ng if it is a cour t-appo i n ted personal inc luding a n i ndependen t per sona l r epresentat i ve , i f a personal repr esen tative i s not act i ng , i f i t i s ho l d i ng p r ope r ty i n a f i duc i ary capacity as a trustee o r s u ccessor trustee . (m) " Res i den t " mean s that te r m as def i ned i n sect i on 18 of the i n come tax act of 1 967 , 1967 PA 281 , MCL 2 0 6 .1 8 . However , nothing i n t h i s act d i mi n i shes the sett l ing of domiciles of decedents under 1 956 PA 1 73 , MC L 205 . 601 to 2 05 . 607 . (n ) " Tangible per sona l property" means cor poreal personal p r ope r ty . (o ) " Transfer " means the pass i ng o f property or any i nterest i n p r oper ty , in possess i on or enjoyment , present o r fut u re , by i nheritance , descen t , d evise , success i on , bequest , g r a n t , deed , bargain , sa l e , g i ft , o r appo i n t me n t . (p ) " Trans f er tax " incl udes an estate , generation -s kippi ng , i nheritance , l egacy , or success i on tax f or r es i dents and non r es i den ts , inc luding al i ens . (q ) " Un i ted States " wh e n used i n a geogr aphica l sense i ncludes onl y t h e 50 states and t h e Di str i ct o f Columb i a . file:///SifBoards%20and%20Committees/CMF/Board/2006-07/03. 15.07%20Meeting%20Materials/2007-HIB-4377.htm[ 11/2 1/20 I I I I :24:22 AM] � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Government-Relations-Committee-Report Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book government relations committee report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book government relations committee report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50677 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/f1d66a20c4d9073193e94cab5d3e0a8e.pdf a3052e5b7d1fbbfc3c6eee28e4354a83 PDF Text Text CMF L eadership Competency Model President and Board of Trustees Customer Orientation -Cultivating strategic customer relationships and ensuring that the customer perspective is !he driving force behind all value-added activities; anticipating, recognizing, and meeting customers' o r c lients' needs; taking personal responsib ility for matching produc ts, p rograms, and/or services to customer needs; monitoring customer satisfaction• Establishing Strategic Direc tion - Establishing and Committing to a long range course of action to accomplish a long- range goal or vision after analyzing factual information and assumptions; laking inlo consideration resources, constraints, and organizationa l values* Sell i ng the V i sion- Passionately selling an organizational strategy; c reating a c lear v iew of the future state by inspiring and g u iding individuals/groups towards an understanding of how these things w ill be d ifferent when the future vision is achieved, stimulating enthusiasm; leading by example Transparency- Maintaining integrity and acting congruently with one's values; publicly admitting to m istakes; bringing up ethical concerns, keepi ng promises • Common among all benchmarked associations CMF Leadership Competency Model Senior Managers Driving for Results- Setting hig h goals for personal and group accomplishment; driving to meet or exceed those goals; using measurement methods to monitor progress toward goal attainment; tenaciously working to meet or exceed those goals; driving continuous improvement; taking calculated risks; anticipating obstacles Mob i lizi ng Re sou rces- Managing staff and resources consistent with organizational goals; proactively negotiating and accessing resources outside of one's immediate domain where necessary"' Coaching and Deve lop i ng Others- Providing timely coaching, guidance, a nd feedback to help others excel on the job and meet key accountabilities; sensing others' development needs and bolstering their abilities; acting as a mentor* Va l ui n g D iversity a nd I nclusio n- Creating and maintain ing an environment that naturally enables all participants to contribute to their full potential in pursuit of organizational goals - L earni n g Or i e n tat ion - D emonstrating and e ncouraging, in ot he rs, a zeal for knowledge, e xperiences, a nd challenges: regularly creating a nd capitalizing on learning opportunities Co mmu nicati ng w it h I m pac t - Expressing thoughts. feelings, and ideas effectively in ind ividual and group s ituations; projecting credibility and poise even in highly visible. adversarial situations: adjusting languag e to the characte ristics and needs of th e audience • Common among a ll benchmarked associations CMF Leadership Competency Model All Staff Teamwork and Co l laboration - Worki ng w ith o th ers towards a shared goal; c r eating group synergy in p ursuin g collecti ve goals; build i ng bonds; encouraging o th ers ; sol iciting inpu t; demonstr atin g a co- operat i ve a ttitude* Ad apt a b iI i t y - D emonstrati ng f lexibility in han d l i ng change; adapti ng or cha n ging s t rategy as needed; handl i n g unexpected demands; adapti ng to situation s; remaining open to new ideas* Sel f -Confidence - Exhi b iting a strong sense of o n e's self- worth and capab ilities; demonstrat ing belie f i n oneself and co nfidence i n job capab ility* " Common among a ll benchrnarked associations �CMF Leadership Competency Model Customer Orientation* Establishing Strategic Direction* Selling the Vision Transparency Teamwork and Collaboration* Adaptability* Self-Confidence• President and Board of Trustees ~ Senior Managers All Staff r Driving for Results r Mobilizing Resources* J l l r l r l Coaching and Developing Others* Valuing Diversity and Inclusion I J J J I [ *Common among all benchmarked associations Learning Orientation J [ Communicating with Impact J �CMF Leadership Competency Model President and Board of Trustees • • • • Customer Orientation- Cultivating strategic customer relationships and ensuring that the customer perspective is the driving force behind all value-added activities; anticipating, recognizing , and meeting customers' or clients' needs; taking personal responsibility for matching products, programs, and/or services to customer needs; monitoring customer satisfaction* Establishing Strategic Direction- Establishing and Committing to a long range course of action to accomplish a long-range goal or vision after analyzing factual information and assumptions; taking into consideration resources, constraints, and organizational values* Se IIi n g the Vision - Passionately selling an organizational strategy; creating a clear view of the future state by inspiring and guiding individuals/groups towards an understanding of how these things will be different when the future vision is achieved, stimulating enthusiasm ; leading by example Transparency- Maintaining integrity and acting congruently with one's values; publicly admitting to mistakes; bringing up ethical concerns, keeping promises * Common among all benchmarked associations �CMF Leadership Competency Model Senior Managers • • • • Driving for Results- Setting high goals for personal and group accomplishment; driving to meet or exceed those goals; using measurement methods to monitor progress toward goal attainment; tenaciously working to meet or exceed those goals; driving continuous improvement; taking calculated risks; anticipating obstacles Mobilizing Resources- Managing staff and resources consistent with organizational goals; proactively negotiating and accessing resources outside of one's immediate domain where necessary* Coaching and Developing Others- Providing timely coaching, guidance, and feedback to help others excel on the job and meet key accountabilities; sensing others' development needs and bolstering their abilities; acting as a mentor* Valuing Diversity and Inclusion- Creating and maintaining an environment that naturally enables all participants to contribute to their full potential in pursuit of organizational goals - Learning Orientation- Demonstrating and encouraging, in others, a zeal for knowledge, experiences, and challenges; regularly creating and capitalizing on learning opportunities Communicating w it h Impact - Expressing thoughts, feelings, and ideas effectively in individual and group situations; projecting credibility and poise even in highly visible, adversarial situations; adjusting language to the characteristics and needs of the audience * Common among all benchmarked associations �CMF Leadership Competency Model All Staff • Teamw ark and Collaboration- Working with others towards a shared goal; creating group synergy in pursuing collective goals; building bonds; encouraging others; soliciting input; demonstrating a co-operative attitude* • Adaptability- Demonstrating flexibility in handling change; adapting or changing strategy as needed; handling unexpected demands; adapting to situations; remaining open to new ideas* • Self-Confidence -Exhibiting a strong sense of one's self-worth and capabilities; demonstrating belief in oneself and confidence in job capability* * Common among all benchmarked associations �Current 2-1-1 coverage 60% of Michigan's population 0 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Leadership-Competency-Model Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book leadership competency model Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book leadership competency model. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50678 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/fb9ddc21742f458f5a1ff76549df54f3.pdf 59c2e674fc9faa7dd0866805312bfb21 PDF Text Text CMF Council of Michi an Foun~ations Serving grantmakers. Advancing giving. March 2, 2007 Memo to: Diana R. Sieger, Chair and Members of the Board of Trustees From: Rob Collier, President & Jeri Fischer, Membership & Special Projects Director Re: Membership Report The following resolution is presented for action. RESOLVED that the following grantmakers be approved for membership: Peter D. and Julie F. Cummings Family Foundation, Birmingham Julie F. Cummings, Co-Chair • Family foundation formed in 2006 with assets of under $2 million and no grantmaking to date. McKinley Foundation, Ann Arbor Karen F. Andrews, Secretary • Public charity whose membership lapsed in executive transition was formed in 1988 to act as a community catalyst with current assets of $976,800 and grants of $75,529 to arts and community development organizations. Polasky Family Foundation, Saginaw Frank M Polasky, President/Treasurer • Former family foundation member, established in 1988 with current assets of$49,546 and grants of$29,735 primarily for Jew ish organizations. World Heritage Foundation, Trenton Waltraud (Wally) E. Prechter, President • Established in 1985, assets are currently at $9.7 million with grantmaking of $322,200 to arts; business school/education; economic development; engineering school/education; health care; higher education; human services; medical research; mental health, depression; museums. Recruited by David Thoms from Miller Canfield, representative of our member the Edalene & Ed Brown Family Foundation. Activity Summary for period April 1, 2006 through March 2, 2007 Memberships at 4/ 1106 New members Dropped Membership at 3/2/07 Renewals# Renewal % Revenue (renewals & new) Additional # Additional $ 4 11 10 16* 405 347 85% $ 959,659 17 $ 184,260 �Membership Report March 2, 2007 Page 2 *Stanley and Blanch Ash Foundation will be tem1inating into Greenville Area Community Foundation. *The Clarence and Grace Chamberlin Foundation terminated 12/31/06. *Gerald W . Chamberlin Foundation, location unknown; last 990-PF & dues payment 2003. *Great Lakes Energy People Fund; Board voted not to renew, reduction in grant dollars. *Knight Family Charitable & Educational Foundation terminated into Hillsdale & Lenawee community foundations. *L & L Educational Foundation; Board voted not to renew since only focus on scholarships. *Loeschner Enterprises no longer in business. *The Millman-Harris-Romano Foundation moved foundation to New York. *Sara Pollock Educational Trust; small foundation with few grantmaking dollars available. *Porter Foundation; foundation split by sisters, Jury Foundation a member, no interest to belong by Margaret Buesse. *Tuscarora Fund, no interest or involvement by founder, Larry Elkus. *UBS no consistent giving program. *Voelker Foundation, not a grantmaking foundation. *David M. Whitney Fund, supporting org. ofCFSEM, no need for separate membership. *Charles R. and Marie Werner Foundation terminated 6/30/05. *Melvin L. & Hilda J. Zuehlke Charitable Foundation terminated into Saginaw Community Foundation 11/06. Summary of current membership The following chart summarizes the current membership composition of 405: Private: 233 Family Foundations Independent Foundations 174 59 Community: 94 Foundations Affiliates Donor-Advised Funds 55 33 6 Foundations Giving Programs 25 27 Corporate: 52 Public: Foundations Donor-Advised Funds Out-of-State Associate: Private Foundations Community Foundation Totals: 19 18 1 7 6 1 405 405 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Membership-Report Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book membership report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book membership report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50679 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/c75540b8c7b6c1c77f4cf098ad13f68e.pdf 1bb444077a8dc567b338adc64473a70d PDF Text Text Council of Michi an CMF Foun~ations Serving grantmakers. Advancing giving. March 8, 2007 Memo to: Diana Sieger, Chair and Members ofthe Board of Trustees From: Rob Collier, President Re: President's Report I. Education and Networking Events November 14- Detroit Area Grantmakers (DAG)--Youth on Race Metro Detroit continues to struggle with a reputation as one of the most racially divided metropolitan regions in America. Sixty DAG participants learned how local nonprofits and philanthropy are helping teens address the issues of segregation and racism in Metro Detroit. Three Metro Detroit area youth talked about race and how it is playing a factor in their lives. Warren Goodell of the Southfield Community Foundation planned the program. December 6 - Land Use Funders Annual Convening - Lansing The Land Use Funders annual convening brought together over 100 grantees, funders, and state officials for a discussion on connections between land use policies and practices and Michigan' s economy. December 7, 2006 - HR 4 Conference Call CMF hosted a national conference call in partnership with the Michigan Association of Certified Public Accountants (MACPA) on the charitable giving portion ofHR 4. Robin Ferriby, VP of Philanthropic Services, presented infonnation on the IRA Charitable Rollover, donor-advised fund and supporting organization issues. December 12- DAG--Arts and Culture: A Piece of the Economic Development Puzzle Three M ichigan leaders in the arts discussed how the arts can impact economic development and community revitalization, and how foundations can help by supporting various arts and cultural initiatives. There were over fifty attendees at this meeting planned by Sharnita Johnson, The Skillman Foundation. January 9 - DAG--Transforming the Region' s Economy: Road to Renaissance Renaissance is leading a regional collaboration that is developing strategies and taking action to transform SE Michigan's economy. Sixty DAG participants learned about the Renaissance plan that focuses on six strategic objectives for the region. Speaker was Doug Rothwell , CEO, Detroit Renaissance, and the session was planned by Melonie Colaianne, MASCO Corporation and CMF Trustee. January 10- Be Ready by Five- Owosso Eleven family foundation members were hosted by the Cook Family Foundation in Owosso Participants made a site visit to the Child Advocacy Center, met with representatives from the Shiawassee Council for Child Abuse Prevention and discussed recent grants made in each of their communities. �President's Report Marc h 2007 Page 2 January 23 and February 1 - Community Foundation HR 4 Conference Calls CMF hosted two conference calls for Michigan and Ohio community foundations on HR 4 . Janne Gallagher, VP & General Counsel with the Council on Foundations focused on key portions of HR 4 that affect community foundations. February 7 - Funders for the Arts - Lansing Funders for the Arts, a new CMF affinity group held its first meeting at the Michigan History, Arts and Libraries (HAL) building in Lansing. Chaired by Shamita Johnson of the Skillman Foundation, the meeting included updates on the status of arts funding in Michigan from HAL Director, Bill Johnson and Michigan Council for Arts and Cultural Affairs Executive Director, John Bracey. Participating foundations included Battle Creek and Southfield Community Foundations and the Frey, Gilmore, Kresge, Paine Family Foundations. February 13- DAG--Healing from the Ins ide: Responding to Family Violence in the African American Community- The prevalence of domestic and family violence has grown to an unprecedented scale in the City of Detroit, while services for survivors and their families have eroded. Over fifty DAG luncheon participants learned about creating effective, culturally competent and community-wide responses to the problem of family violence in the African American community. This program was planned by Kate Levin Markel, McGregor Fund. February 16- Funders for Michigan's Economy - Ann Arbor CMF's second new affinity group, Funders for Michigan's Economy, had its second meeting on Feb. 16 at the University of Michigan. The meeting included a conversation about entrepreneurship with Steve Forrest, vice president for research, U of M and a discussion of the Governor' s priorities. Jenee Velasquez, Herbert H. & Grace A. Dow Foundation, serves as chair. Foundations participating in the meeting include: The Kresge Foundation, The Frey Foundation, Community Foundation for Southeast Michigan, Porter Family Foundation, Grand Rapids Community Foundation, C.S. Matt Foundation, Ann Arbor Area Community Foundation, The Skillman Foundation, W.K. Kellogg Foundation, Max M . & Matjorie S. Fisher Foundation, and the Hudson-Webber Foundation. February 25-27- Council on Foundations' 2007 Family Foundation Conference Representatives from ten Michigan family foundations including both CMF members and nonmembers, attended the COF Family Foundations Conference in Baltimore. CMF Trustee, Rachel Mraz, played a key role representing Michigan in the next generation activities. March 7 and 8 - Boston College' s Center for Corporate Citizenship: "Institute on Corporate Citizenship"- Eighteen corporate members participated in this new Boston College course which is a requirement for all Center certification programs. Offered for the first time anywhere, the course focused on the many key components of corporate citizenship. Many thanks to MASCO for sponsoring and hosting this program. Upcoming Events March 13 & 14 - Joint MUOH Community Foundation CEO Leadership Retreat - Toledo This second annual two state collaboration for Community Foundation CEOs will provide learning and networking opportunities including: • A landmark study of High Net-Worth Households; �President's Report Marc h 2007 Page 3 • • • • The Transfer of Wealth Analysis and implications for community foundations; College Access Programs and how community foundations can get involved in encouraging students to pursue post secondary education; Update on Midwest Community Foundations' Ventures; and Practical how-to advice on complying with the Pension Protection Act (HR 4) provisions. March 29 & 30- CMF Community Foundation Program Officers' Retreat- Detroit The Community Foundation Annual Program Officers' Retreat agenda includes: • Non-Profit Enterprise at Work-Leadership • Arts and Culture as Economic Development • On-line Applications Sunday, April 29 -CMF Michigan Evening, Council on Foundations- Seattle Planning is underway for this year's Michigan Evening at the Council on Foundations annual conference in Seattle. Registration information will be available within two weeks. May 22 - Regional Philanthropy Reception - Flint The Annual Regional Philanthropy Reception will be held at the Flint Institute of Arts immediately following the Board Meeting. More than 100 grantmakers are expected to participate. May 23 and May 25- MI Grantmakers for Women & Girls' (MGWG) Annual Workshop"Women & Public Policy: Funding for Change" This year's meeting is planning to go "hi-coastal" with meetings in Grand Rapids and SEMI. The program will include keynote speaker, Marie Wilson, former President/CEO of the Ms Foundation, co-creator ofTake Your Daughter to Work Day, and leader of The White House Project. In addition, The Nokomis Foundation will present details from a new briefing paper on the economic issues facing M ichigan women and desired policy changes. June 15 - 17 - 91h Annual Family Foundations Retreat- "Creating a Blueprint for the Future" This year's Retreat will be held at Crystal Mountain Resort in Thompsonville. Featured speakers will include Doug Bauer, Senior Vice President, Rockefeller Philanthropy Advisors, and Ken Gladish, the new Director of the Grantmaking School and Distinguished Professor, Dorothy A. Johnson Center for Philanthropy and Nonprofit Leadership, Grand Valley State University. There also will be Camp Fly for the 3 - 7 year olds and a youth grantmaking activity for the 817 year olds. June 22-24-Youth Leadership Conference- University of Michigan The fifteen committee members of the Michigan Community Foundation Youth Project (MCFYP) Committee are currently planning the agenda and programming for the 2007 Youth Grantmakers' Summer Leadership Conference. We are looking forward to a large attendance of both in and out of state youth grantmaking programs. This year' s conference will focus on the three basics of youth philanthropy: Fund Development, Grantmaking, and Youth Empowerment. �President's Report Marc h 2007 Page 4 Communications New and Updated Publications This spring, CMF will release several new or updated publications. • Effective Foundations Bulletin, a new CMF newsletter targeted to eligible non-member Michigan foundations. The Bulletin's purpose is to: (I) increase awareness about CMF and the benefits of membership; (2) encourage and provide tools that support effective and accountable practice including the Guiding Principles. The first issue will provide guidance for completing 990-PFs. • Information for Seeking, available electronically and in print to advance grantseekers effectiveness in obtaining foundation grants • CMF Member Roster available electronically and in print • An updated version ofCMF's Guide for A Successful Matching Gift Program will be published by The Council for the Advancement and Support of Education (CASE) this spring. We are delighted that this national organization identified this CMF handbook as a valuable resource and model. CASE will prominently recognize CMF in this publication and offer CMF members a significant discount on the new guide. Internal Capacity Building The Communications and Marketing Advisory Council held its second meeting in December to provide direction on: the proposed communications plan for FY07 and on the draft criteria and process for the cultural competency audit of print and electronic communications tools. We are grateful to the many members who serve on this committee which is chaired by Mitch Hurst, communications officer and webmaster for the Charles Stewart Mott Foundation. To achieve our goal of operating a model membership association, CMF sought and was selected to participate in three capacity building programs to increase the qual ity of its communications services for members and other target audiences. • Forum Accountability & Effectiveness Initiative CMF is one of six regional associations chosen to participate in the Forum's Strategic Communications & Media Relations Project whose objectives are to: o establ ish regional associations (RAs) as lead ing voices on philanthropy in their local communities, states and surrounding areas and as reliable sources of infonnation for the media; o improve the media interviewing and presentation skills of key spokespeople; o build RAs capacity to create and execute strategic communication plans that successfully reach target audiences o develop and share content and resources with the entire network of 32 RAs. CMF's communications team --Kathy Ginocchio, Becky Noricks and Vicki Rosenberg are participating in on-line and in-person training. The project also provides customized consulting on issues specific to each participating regional association. �President's Report Marc h 2007 Page 5 • Forum Promotion of Philanthropy Project- a second component of the Forum' s Accountability & Effectiveness Initiative is a grant program designed to support projects of consortia of regional associations that are designed to increase opinion leaders, policy makers and the medias understanding of and positive perceptions of philanthropy. Vicki Rosenberg is leading the development of this proposal which involves regional associations in Indiana, Wisconsin and Ohio. • Spitfire Communications Leadership Institute- With generous support from the W.K. Kellogg Foundation, Vicki Rosenberg w ill be attending this well regarded program that provides training and 80 hours of customized consulting support on communications and media relations. This program will begin after the Forum capacity building project allowing CMF to significantly build its capacity within a 12 month framework. Technology Progress continues on CMF's new web site and member data base systems, both part of the Forum of Regional Associations' (Forum) Knowledge Management Initiative (KMI) for which Kathy Ginocchio is providing national leadership on CMF's behalf. Recent developments include: • • Implementation of a new online member database solution that will allow CMF to offer member interaction with www.cmif.org - to register online, update member profiles, record communications preferences and personalize the webs ite experience. CMF is also using this new database for all of its internal bus iness processes toward streamlining internal work flow and reducing staff costs. Contracting with Douglas Gould & Company to help CMF build its communications strategy and message development for the new web site. Soft launch is projected for late spring 2007. Partnerships November 2006- CMF/Johnson Center for Philanthropy & Nonprofit Leadership CMF and Johnson Center managers and program staff participated in a brainstorn1ing meeting to identify opportunities for partnering that would advance both organizations' missions and goals. The day' s discussion generated a number of short and long-tern1 opportunities in: (I) education and training; and (2) research on cultural competency, new forms of philanthropy, intergenerational transfer of wealth in Michigan (by county) and other areas. Staff are currently working on defining and developing plans to move forward with these opportunities. January 12- Community Foundations of Florida Biennial Meeting- Orlando Ms. Mersereau attended this meeting to award their CS Mott Foundation Regional Marketing Grant. 100% of the membership of Community Foundations of Florida will participate in web based regional marketing course. This grant leverages another grant by the Knight Foundation supporting regional marketing of community foundations to professional advisors in Florida. �President's Report Marc h 2007 Page 6 February- TCFN (Transatlantic Community Foundation Network) Academy- Palo Alto In February, Donnell Mersereau, Director, Community Foundations and Executive Director, MCFV, attended her second TCFN Academy held in collaboration with the Stanford Graduate School of Business. The topic of the 2007 Academy was "The roles of community foundations in the 21 st century". The topic continued last year's theme of the future of community foundations in a transatlantic perspective with 17 community foundation executives, representatives of support organizations and academic scholars from nine different countries participating. The Academy was opened by a Helmut Anheier, Director of the Center of Civil Society at the UCLA, and Diana Leat, Research & Development Director - Progressive Philanthropy at Carnegie UK, with a presentation on "Towards the Creative Community Foundation". Both scholars presented their concept of "creative philanthropy" and discussed its meaning for community foundations. The concept of "creative philanthropy" focuses on the unique capacity of foundations to identify solutions to problems, to initiate and carry through innovation processes, and to help disseminate and implement sustainable results. Key questions addressed were: • • • To what extent do or could community foundations display the characteristics of creative foundations? Are they inherently creative, or do they have to become, or being turned into, creative foundations through specific leadership patterns as well as management decis ions and practices? Are there structural features of community foundations that encourage creativity? Participants discussed findings and assumptions of the creative philanthropy approach with a particular emphasis on the questions what characteristics of a "creative foundation" were of relevance for community foundations. The discussion also focused on the larger opportunities and visions for community foundations within the overall philanthropic sector. The discussion on community foundations and "creative philanthropy" was followed by a brainstonning session for a major new book project which is envisioned as an international version of "An Agile Servant" published in 1989. Academy participants focused their efforts in particular on identifying core content and developing a comprehensive outline for this new publication. March I - Public Policy Committee- COF- Washington Rob Collier participated in his second meeting of the Public Policy Committee to help define the Growth Agenda for Philanthropy which will be considered for adoption by the COF Board at the end of March. March - Global Fund for Community Philanthropy - New York Ms. Mersereau will chair the second grant round of the Grant Distribution Committee for the Global Fund for Community Philanthropy at the Ford Foundation in New York City. The Management Committee for the Fund- recently created for the development of community foundations in World Bank client countries-will also meet that week to review the grant criteria to encourage more applications from countries in the global south. Overlapping with the Global Fund meetings is a two day strategic planning meeting of WINGS- Worldwide Initiative for Grantmakers- support also at the Ford Foundation to review issues raised at last year's �President's Report Marc h 2007 Page 7 WINGSForum in Bangkok, Thailand. Donnell serves on the Management Committee for the Global Fund and the WINGS Coordinating Committee. March 20, April19 and May 23- CMF/COF/ Forum of Regional Associations ofGrantmakers (Forum)- Essential Skills & Strategies for New Grantmakers On March 20, CMF will offer the frrst of three sessions in the Essential Skills and Strategies for New Grantmakers Program (ESS), the first national roll-out of this replacement program for COF's Grantmaking Basics. Developed through a partnership between COF, the Forum, CMF and Grantmakers of Western Pennsylvania, ESS is designed to increase foundation effectiveness and impact through a state-of-the art curriculum that: serves as the standard introduction to the field for those new to organized philanthropy maximizes learning by using adult learning principles contributes to building communities of practitioners is culturally competent in that it respects diverse perspectives and roles The program will be: updated annually based on data collected from all presenting organizations, faculty and participants; and available free of charge to regional associations of grantmakers, grantmaker affinity groups, other philanthropic support organizations and foundations that prov ide learning opportunities to grantmakers. A national web site is being developed by COF as the entry point for those interested in delivering the program. CMF and COF are marketing the M ichigan program to foundations across the U.S. and Canada. To date, 27 members and two non-members are registered for the full program; five members and two non-members are registered for one or more of the March, April and May sessions. Registrants include grantmakers from Michigan, Connecticut and Ohio. We are grateful to the CMF members and partners who have agreed to serve as faculty. A copy of the registration brochure and a full list of faculty members is in the back pocket of the Trustee Notebook for your information. March 23-24 - Forum Grantmaker Education Task Force Advisory Committee - Chicago Vicki Rosenberg will co-chair the Forum's new Grantmaker Education Task Force's first national advisory committee meeting with Judie Donaldson, executive director, Grantmakers for Western Pennsylvania. With support of an $800,000 Hewlett Foundation grant, the Building Capacity for Grantmaker Education Project of the Task Force seeks to strengthen the quality, scope, and accessibility of learning opportunities for those working in or governing foundations across the country by creating: A comprehensive framework that defines essential skills and competencies of effective grantmakers (i.e., foundation staff in all rolls and trustees). New tools and programs that fill ex isting gaps and increase regional associations' capacity to serve their members in partnership with providers, researchers, and others. An evaluation system for regional associations to measure the impact of their programs. May 15-17 - Nonprofit SuperConference- Lansing CMF will again be assisting the Michigan Nonprofit Association with this annual event drawing more than 500 nonprofit and foundation leaders with Rip Rapson, President of The Kresge Foundation serving as one of the plenary speakers. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Presidents-Report Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book presidents report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book presidents report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50680 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/0f2035e82def15ecd7e1e65357f9c2ec.pdf 58d17373b75df498bcd16aa3d57e5772 PDF Text Text CMF Councilof M ichigan Foundat ions Serving grantmakers. Advancing giving. Board of Trustees Meeting Minutes Tuesday, October 17, 2006 Radisson Plaza Hotel & Suites, Kalamazoo Meadows Room The Meeting of the Board of Trustees of the Council of Michigan Foundations (CMF) was held at the Radisson Plaza Hotel & Suites in Kalamazoo on Tuesday, October 17,2006, pursuant to written notice duly given. The meeting was called to order at 2: I 0 p.m. by Julie Currunings, Chairperson via phone. Trustees and Officers present: Elizabeth (Libby) Cherin Melonie Colaianne Robert Collier Dav id Egner Rev. Louis Felton Russell Gabier Carol Goss Wes Maurer, Jr. Russell Mawby Olivia (Libby) Maynard Rachel Mraz David Page Phillip Peters Diana Sieger Gerald Smith Betsy Upton Stover Elizabeth Sullivan Sandra Ulsh Amanda Van Dusen Christian Velasquez Daniel Wyant Lloyd Yeo Special Guests: Stacey Barbas, Executive Director, Michigan AIDS Fund James A. Kelly, Co-Chair, Learning to Give Board of Trustees Dottie Johnson, Co-Chair, Learning to Give Board of Trustees Barbara Rapaport, Real Time Perspectives Inc. Duane Tamacki, CMF Legal Counsel CMF Staff: Susan Cuddington, Executive Assistant to the President Rachel Dunne, Public Policy Fellow Jeri Fischer, Director, Membership & Special Projects Mike Gallagher, Managing Editor Susan Howbert, Director, Family Philanthropy, Corporate Grantmaking & SE Michigan Services David Lindberg, Vice President, Finance & Administration Susan Lindson, Michigan IDA Project Donnell Mersereau, Director, Community Foundations Vicki Rosenberg, Vice President & COO �Board o f Trustees Meeting Minutes- October 17, 2006 Page 2 Self introductions were made and Chairperson Cummings welcomed Rachel Mraz as a newly elected Trustee. She apologized for not being able to attend in person and turned the meeting over to Diana Sieger, Vice Chair for Community Foundations and Incoming Chair. Governance Committee Committee Chair Carol Goss presented the Governance report. She discussed the annual review of the by-laws and the changes approved by the Committee. Mr. Collier and Mr. Tarnacki noted the major changes, including the expansion of the Board to 28, creation of a "youth" Trustee position and addition of the Past Chair to the Executive Committee. Upon motions duly made, supported and unanimously approved, it was, RESOLVED that the bylaws of the Council of Foundations, as reviewed by legal counsel, be amended as proposed in the attached copy. Ms. Goss presented term limited trustee Elizabeth Sullivan with a resolution recognizing her nine years of service to the Board. Upon motions duly made, supported and unanimously approved, it was, RESOLVED further that the Board of Trustees of the Council of Michigan Foundations (CMF) extends its appreciation to Elizabeth Sullivan, Senior Vice President Programs and Administration of The Kresge Foundation for her nine years of dedicated service as a Trustee of CMF, including: her support of the development of Guiding Principles as a condition of membership in CMF, her involvement on numerous committees and task forces - such as the Annual Conference Committee, and her service and leadership on the Board of the Michigan AIDS Fund as a CMF representative, and we welcome Elizabeth's continued advocacy for philanthropy as a member of CMF' s Advisory Cabinet. Ms. Goss also reported on the results of the election of Trustees and presented the following resolution: Upon motions duly made, supported and unanimously approved, it was, RESOLVED that the actions of the Committee on the Class of 2009, as detailed below, be accepted, and that the following names were elected by the membership to the Board for a three-year term ending in 2009: RobertS. Collier, President, Council of Michigan Foundations, Grand Haven Rev. J. Louis Felton, Trustee, Kalamazoo Community Foundation, Kalamazoo Allan D. Gilmour, Trustee, Community Foundation for Southeastern Michigan, Detroit Carol Goss, President & CEO, The Skillman Foundation, Detroit David K. Page, Trustee, The Jewish Fund, Detroit David S. Sebastian, Trustee, The Sebastian Foundation, Grand Rapids Sterling Speirn, President & CEO, W.K. Kellogg Foundation, Battle Creek Amanda VanDusen, Senior Principal, Miller, Canfield, Paddock and Stone, P.L.C., Detroit And Rachel M r az, Trustee, Eileen and Br ian DeVries Family Foundation, Grand Rapids, was elected to serve one three-year term as the Youth Trustee in the Class of 2009. �Board o f Trustees Meeting Minutes- October 17, 2006 Page 3 Finally, Ms. Goss presented the recommendations of the Governance Committee for the Officers for the next year. Upon motions duly made, supported and unanimously approved, it was, RESOLVED that the following individuals be elected to the offices as specified for a one-year term effective October 17, 2006. Chair- Diana Sieger, President, Grand Rapids Community Foundation Vice Chair Community Foundations - Elizabeth Cherin, President, Fremont Community Foundation Vice Chair Private Foundations- Betsy Upton Stover, Trustee, Frederick S. Upton Foundation Vice Chair Corporate Foundations- Sandra Ulsh, President, Ford Motor Company Fund Secretary- Amanda VanDusen, Principal, Miller, Canfield, Paddock and Stone P.L.C. Treasurer- Phillip Peters, Vice President- Administration and Secretary, C harles Stewart Mott Foundation President- Robert Collier Chair Sieger recessed the Board Meeting to hold the Annual Members Meeting of the Supporting Organizations of the Council of Michigan Foundations at 2:40 p.m. Chair Sieger re-convened the Board Meeting at 3:10p.m. She presented the consent agenda items for approval. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the Consent Agenda items be approved: The Minutes May 25, 2006 Board Meeting, and The Minutes of July 27, 2006 and September 12, 2006 Executive Committee Meetings, and The Treasurer's Report for August 31, 2006 Financials, and The June 30, 2006 Investment Report as recommended by the Investment Committee, and That the following six grantmakers be approved for membership: Barber Foundation of Grand Rapids Burnham Family Foundation of Battle Creek Clannad Foundation of Bloomfield Hills LaGrange County Community Foundation of LaGrange, IN Wayne and Joan Webber Foundation, Clinton Township Karen Colina Wilson Foundation of Grosse lie �Board o f Trustees Meeting Minutes- October 17, 2006 Page 4 Government Relations Committee Co-Chair Libby Maynard presented the Committee's recommendations for changes to the Legislative Goals Statement. She noted that 19 members participated in the annual review which includes the addition of National Goal 11 on page 6- the Charitable IRA Provision to our list of National Accomplishments. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the attached Legislative Goals Statement as reviewed by the Government Relations Committee be adopted. Julie Fisher Cummings updated the Board on the history of the two pieces of donor intent legislation in Lansing, the fi rst introduced by Rep. Dillon and the second by Rep. Huizenga. The two sponsors have indicated that neither of the bills will be considered and will die when the House adjourns at the end of 2006. Ms. Cummings and Ms. Maynard both stressed the importance of our visibility at Foundations on the Hill as well as in Lansing. Cultural Competency Initiative Ms. Rosenberg presented highlights of the staff, Board and member work since the May Board Meeting including: the completed guidelines for audits of human resource policies and position descriptions, training plan for supervisors, and the work of two task teams. She introduced with comments by Trustee Elizabeth Cherin, Ms. Barbara Rapaport of Realtime Perspectives, Inc., consultant to CMF on the Cultural Competency Initiative, who acknowledged the work done with staff on systems and policies. Ms. Rosenberg introduced two resolutions recommended by staff, the first being revisions to the Board adopted value statement on diversity adopted in 2002. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the CMF Board and staff strive to model and promote inclusion as a means to serve and strengthen the work of a diverse membership by working to: • Create an inclusive environment in which individuals/grantmakers from different national origins, ethnicities, races, cultures, generations, religions, economic backgrounds and sexual orientations, and with different skills, abilities, lifestyles and beliefs are respected, valued and encouraged to participate. • Be governed by a diverse Board of Trustees, and to attract and retain diverse staff members. • Understand, represent and share the range of philanthropic perspectives held and traditions followed by our members, and Encourage members to join with us in developing their own commitment to inclusion for the future of philanthropy in Michigan by signing CMF' s Guiding Principals. RESOLVED further that the Strategic Plan on Cultural Competency - a copy of which is attached- be adopted and integrated into the 2006 Plan of Work for CMF with the goals, strategies and appropriate tactics incorporated into the 2007 Plan of Work and subsequent annual plans of work. �Board o f Trustees Meeting Minutes- October 17, 2006 Page 5 1 34 h Annual Conference Vicki Rosenberg, Vice President & COO, reported that over 730 individuals were registered for the Conference including our first national exhibitors. She indicated that the Board will receive a summary of participants evaluations at its spring meeting as planning commences for the 2007 Annual Conference in Dearborn. Public Policy Committee Co-Chair David Egner presented the decision for CMF to not take a position on the state ballot issues. Chair Egner reported on the first meeting of the new affinity group, Funders on Michigan 's Economy, to look at regional and state strategies. Jenee Velasquez, executive director, Herbert H. and Grace A. Dow Foundation, has agreed to chair the Committee. Rachel Dunne, Public Policy Fellow reported on the thirteen Public Policy sessions at the Annual Conference. President's Report Rob Collier highlighted four key points in his Report. He recognized Susan Lindson of the Michigan IDA Partnership, and the report ending September 30, 2006 indicating that 909 participants have completed asset purchases with 625 new homeowners leveraging more than $55 million in new mortgages. While CMF's management of this national model has ended, the role ofiDAs will continue with public private support and Susan will continue to assist the Regional Coordinating Organizations from her new base at the Oakland Livingston Human Service Agency. He noted Vicki Rosenberg's leadership in development of the Essential Skills & New Strategies educational programming that was tested at the Annual Conference and will be offered by CMF in the spring. He also noted that Vicki has pulled together a new Communications Marketing Advisory Council for CMF. He thanks Rachel for coordinating four Public Policy Briefings this summer. Finally, he thanked the six new funders of the Office of The Foundation Liaison and the six that have renewed their support for this vital office. Adjournment Chair Sieger noted the next regularly scheduled meeting of the Board of Trustees will take place Thursday, March 15, 2007 at the University Club in Lansing. She thanked Julie Fisher Cummings for her leadership over the past year. There being no further business to come before the Board, Chair Sieger adjourned the meeting at 4:20 p.m. Diana R. Sieger, Chair Robert S. Collier, President �Board o f Trustees Meeting Minutes- October 17, 2006 Page 6 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Previous-Board-Minutes Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book previous board minutes Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book previous board minutes. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50681 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/ce48d659ac51270db9ce79499d7883ff.pdf 92aaf40cb08a7934a8c872cbc6a69ed6 PDF Text Text Council of Michi an CiV Foun~ations Serving grantmakers. Advancing giving. March 7, 2007 Memo to: Diana Sieger, Chair and Members of the Board of Trustees From: Rob Collier, Dave Lindberg and Vicki Rosenberg Re: Redesigned Plan of Work Document The Council of Michigan Foundations' (CMF) Plan of Work is primarily used to inform the Board of Trustees about the proposed activities for the upcoming fiscal year. Secondarily, the Plan of Work is used by management as a planning and monitoring tool. For FY07, the Plan of Work has been redesigned to more effectively: • Provide a complete strategic overview of CMF's work on one-page vs. on multiple pages as in prior years. • Highlight: (a) on-going activities that occur each year; and (b) proposed new activities for FY07 by presenting them in separate, side-by-side columns vs. in one column as in prior years. • Be an easy reference tool during the year. W e hope the tighter focus and one-page format serves the Board's purposes and look forward to any comments. �Mission: To Str&flgl hfln, promOifland _..,C/'(IIIS6 phi/anthropyi'!Michigan. Proposed FY2007 Plan of Work 2.12.07 Ad\ieve pl!l of legill3~ve statemttnl (updatedannualy). Eductl!eloundatOon trvste&S and s tat'! about el'lective practice. Mel rit:: 55" Dlt711tm1JMS (• 1 par!(Jtr pM m.tmbNOI'Q) a/lltnd a CMF prDgfllm_ 75" indit:allllllHI program wiiJhaJp tllembltmofll ltlfeclivairtlheirworle. lnctea s.e foundation trvsteM and staff ..- Advoeate lorgo31s in Pro~sed NewActlv;u.s LobbyW\g ol Mlio!gislature (wilh eontnld<'KI support fmm Public Atf3>rs Associlltes) ~l&tivfl statement Continuation of S!lT T&x Crfodi~ IRA Chltlbble RolovM Su.vey (t) CEO service on NPO AdviSOf')' Commin&fl 10 Slate Attorney General; Plblic Policy or Goverrrnenl RoN!Oons Committees ol MNA, Unire<j Way ol Ml, Independent Seclor, COF, ReptO!Mn! Miphilanlhropywi1hstateandledefal Forum of R~ AS50cilltion$: (2) '"''li¥n9 to legillllliva commilleM upon MqUfl! l; (3> =~r::.~in!!..~:wilh•ele>;ant committee chairs. House/Senate leade<st.;p, Educate current and future pokymakers about ll>e Fdns on Hll with membe<s: co-sponsor Nonprof>I O&,.; Felo<wship; providing Ml~ philanlhn'l9ie!J6d0< Ontc/OryAJpdtJMtutddillril:t·speeifieinlormalianiOpolieymloken Offer ptOQ<ams, resources, and technical assistance Pf0Q<81Tls. 15• ongoing ~andskhin:ltdminislrelion. RMOUroes.,.__cmif."'lJ , inlonnation~an<lreseareh communications, arKural competency. financefowestment. lun<ldevelopment. pe<nanceandgrantmaklng Tl!ehnical Assistance· on-site. by phone_web-based Progrt1tns • Communications Nlti'WOII< Mt event. Grantmakers Round"/abli!: on Fait~baSfld Giving. GovM\11~ as Lea<~e<ship How G<Bntmalu!rs Learn. GEO Peer Learning Network. EssentlaiSkillsaodStrategieslofNewGrantmake.-. Re~s -CF YAC of the month. Corporateeeards.Cn.atingandManagingafamlyfoun<lation·updBiil. SeholarshipGuide: Technita/A.u.i518tlelt •ODnt.inueltxplonllion wiltl.JohflsonCent&r -letter. FYOf, U~tt>: 4!i"( t86) 1tii.IH>dtJd~;37"(!52)ttltMdAC;II~nM,.,rfdM indic1t«< !MAC wM ~ IIHlm be more ttffecW. (a/the &pprox. 30% responding ro AC a valualion) lncrel.. organizad philanth.-OIIy in MI. Increase the number of profusional Offer programs, rf!SOU<CM and ted\nical assistance. advisorlwho understandandencourage Mltltic:901tdvi3ors(ellotnltysartdiJCCO<J(OfltnU)ItltfmdltCMFsponsOte<J. cro&prllltllirlflwoo1<shop FY06 updttltt : 61 Aecoon/en/s elllllnded the 990 PF seuions irt August. Tarpel,.;; meelingswithmembe<s and lensing polcymake<s Wilh sla\11 associations {18~. CPAs) offltr workshops: proyidfl CLE and CPE cradits: providflledvlical assistance; po.blishanrt<ralupdateoo Est a CharitabM!Foundalion ii::i;;"T.; fa:"'::"' ·,". . ...., ......~c;o•;-;""='"""' ='""""'"''+,O,.,M;;,....,=>•fu.~;o;,=='"'"'..;;c·''"'~=n~""'='"""" ="''-lucM,;;>"";;oc"'M"F"'•""="""="'"-""=""""=•'"~"''""""="'"'== "'"'""'=•-----Io.-=,.;o-.•;<s'-'••"""''c,;""';;;;~~,,;-.,o;;,,~~•"-R"'~=;;-,o,_..,o.";;;;;-"Y-1 wilh lhelrglvinQOIItions. assistance = e = . : ! : = m - fdns to attraet. Providfl pt()jjlfllms. rltSOUn':ltS andteehnical n !listanee_ Professional servicltson funddltvltloprnltnt. stnltf!9ie plllnning. ti'ICtlnologyandlf!9al lncleasememberfoundalions" SUppor1& lacilitallt individuaJ and collectivememberh>a.tnerwilh Oft.. nominalltmembers torstalltcommissioniiJcomm~llllftS: fac~itate a~ ~=~~~YiorlllmilybJnd&lions proups (AQiog.landUse. K-12. Arts. Early Matt&ra, Economic. Wom~tn & Girls. Family 11 "'"~""-=•~-="""'"''~"'>'"-'"•"'"'~""'=--J.w"-•'"-""' ~'"'-= · "'"'"""'~••'"•~=m"'"'""''"'""""'=-o: · ;;-,--ffi':~~,~~~~~·'::C."J't7L2·a~i'i"7'~ingP/nfJCio~:n. :Oi;.,':'",~~ . K:.O.,i!"""~,..,.,.=•"'''""'~'"'"'""-"•"'••"'••'"•----+,,o;;:,_..,,=~•w"'M"""'"'-"'""'"''"•-------I through Mldwes1 CF Ventures (MCFV) with special projects. Sltrve as foscal 11f11tnt lor public priva1epartnltr&hips. ConlributetonaOOnal and plobaldlaloflveson """~comm · · Otrlceoflhe Foundalion l iaison. EartyChildhood lnvltstmentCorporation Youlh prar1tmaker teclviOcal ass~tance OOAaide of Ml: host international v~iiOtS: WorldBank Global Fo.ni. WINGS. TCFN S=henelWOrl<ofMichigan Offerprogramsandresoun:es =~~~=~~Z:,~~~~~~~OFandCommu':tions Ne1Work =~:.~,;unic;:::_:_ent. smalllocallamily lmpnw~tflrMI!IItlti<MSundltrslllll'ldingol SJXII'ISOfftVItntl,pmvidlt~andinlon'Mtion Co.sJXli'ISOfMNANonpmlit S~, oolumnonM I PhilanlhmpylorMNA ii>h. ::::~~7t>=~Mfmerntwm;-~ade<shiplofcoordna~ ~~~ :::::::::::::~;::::::m:~::::::e CMF :"":=:',on!:~":ludilta. UpdaiiiCommonGrantApplicalionlorWitb _,_____ -ratcau~~~::ha~:~~CommuniefltionsNitlWOri<Board Spon10r ~ proMit f1Vftfi1S. EriQ¥ in mfKiiarelalions. Planning lor 2008 Philanthropalooza Conlerenclt in W~ton. O.C Co-spon10r Ml Phllanth'OIIy Oay. Ml Women's Foundation. Mt Campus Com !)aCt. -~ ServicltAwards - M I Philantlvol)y 0rai HistoryProjltc1(Mid'liflan Radioand UpperMVACrecortling sessionl) Inform mltmbers about ~sues affecting the Publish articles. newsllt11a<s aod alerts. filtld. best practices an<l m~tmbef acliv~llts Increase the quality of media 00\lltfaglt - aboutphilllltllhropy. Provide inlormalion. rfiSOUrCitS and as!listance 10 media. NewsWire (weeki,-). E-News (monthly); Memo 10 Members/Family Ph~8111hl'opist insert (lx): Membef Alerts t--- Statei'Regionlll Massaging campaign 10 build posilive pe.-ceptionoflooodalions(withFon.om & indepeoden1Sector). Richardson~Felow vlslt Main1ain a sustanable membefshifo base. Retain members. Operat. a rr'IOdltlmembership associalian RltcrU~members. Mltlrics: I_ RfiP'Itser>l mem~ holdirtflllt least Operate effective governance sys1em Operate Board & Committees using bes1 praetiees (Audit,Communily f oundation. Corpora1e.Exacutive, R~testablish memberVIip commi!lee an<l implement new campaign ~·=::~c!:!:':!~~on cul!uflllcompltlltnCy amity. Governance. Gov1tmm1tnt Ratallons. 5.Com8Cl ~rnambltrbyphona ennualy. F Y06 Upd/!llll. 1. 84"; 2 . 98%; 3. 6 new members; 4. 58%. 5. TBD R marke~ng 90% of Otpanlzltd philanl hoplc ttSSitlS irt Ml 2.Reteft9fi"Dicurrentmembltrs(by.113T!Il8) 3. Racuil2'0 tlltwmembersper ye.tr 4.Heva55"otttllllllbenlttlfiBfllt'd i? CMF (evanrs.co.-nmktees.requeststtNices) Contac1wilhuc:hmltmber lntroductorypacketstonewfoundalionsonOe-ptofTreasurylis1 lnvestment,Membershlp. Put>licPdit:y. Supporting ~te alinlltmallllflctionsll etfectrvety and ltllicientfy". ~=~~inistration HumanResources.--IT.,.,;;;;,~O.~OC:oaudit. budget PfOC/li'SS. performance rflvillws. review of personnel policies -~ stalllrllining: su-pervision: cu~uralcompelltncy. .. l!ehnology. Communicationa/Ma11<1tting: rpanizational Dltvelopment-Strategic Plllnning :It ! \ltamwort<. phi1anUvopy (via s~e visb to 2 member ::::m:ions.), rlt<No.sipn a nd conten1 dlt\lltlopmltn~ � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Redesigned-Plan-of-Work Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book redesigned plan of work Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book redesigned plan of work. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50682 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/4d96c3ae28cdf01aec178051c3b0c6d0.pdf d5ba080cb907a21d8bcfcb03e2482cee PDF Text Text Council of Michi an CiV Foun~ations Serving grantmakers. Advancing giving. March 7, 2007 Memo to: Members of the Board of Trustees cc: Rob Collier, President Barbara Rapaport, Real Time Perspectives From: Diana Sieger, Chairperson Re: Succession Policy and Organizational Assessment by Barbara Rapaport You will recall that the Board of Trustees approved a contract with Barbara Rapaport of Real-time Perspectives, Inc. to develop a Succession Policy and complete an Organizational Analysis ofCMF. The Executive Committee met with Barbara and Rob on February 20 to receive her report. I. Succession Policy Because CMF has no policy in writing at this time, the Committee approved presenting the following Succession Policy to the Board for consideration. This Policy is based on the recommendations of Barbara and will be reviewed by legal counsel before the B oard Meeting. RESOLVED that a Succession Policy for permanently filling the position of President of the Council of Foundations include the following steps, recognizing that an absence of the President due to health reasons would be impacted by the short and long term disability policies of the organization. Within three working days of the loss of the President - by resignation, dismissal or death: • The Executive Committee of the Board shall meet by conference call, with all Trustees invited to participate, to select the Vice President Finance and Administration David Lindberg, as Interim President, and identify two current or former members of the Board to lead a Search Committee. • The Chairperson of the Board will meet with Mr. Lindberg and staff to inform them of Mr. Lindberg' s appointment and the intent to form a Search Committee co-chaired by two current or former members of the Board of Trustees. • The Chairperson will contact the candidates identified to lead the Search Committee and confirm their willingness to serve. �Succession & Organizational Assessment Page 2 • The Chairperson and Mr. Lindberg will then issue a statement to the membership and public on both his appointment and creation of the Search Committee. Within two weeks of the loss of the President: • The Interim President shall present for the Executive Committee' s approval his critical work priorities and personnel issues to assure a seamless transition with minimum disruption of services in an interim period that would last a projected six to eight months. • The Executive Committee shall meet to approve the revised job description for the Interim President and meet with the Co-Chairs of the Search Committee to approve: the membership of the Search Committee, an updated job description for the position of President and a budget for retaining a Search firm. Within one month of the loss of the President: • The Search Committee shall convene and seek at least two proposals from qualified Search firms. Within two months of the loss of the President: • The Search Committee shall interview and retain a Search firm and post the opening for the permanent position of President. • The Search firm shall meet monthly by phone or in person with the Search Committee and provide written updates to the Chairperson and Board of Trustees with the goal of providing the Search Committee a recommended slate of at least three candidates to interview for consideration by the Board of Trustees with a goal of appointing a new President by the end of month six. It is recognized that up to two additional months or an appropriate time may be needed to allow the new President to transition to CMF. RESOLVED further that should the current President of CMF be incapacitated in some way and unable to fulfill his responsibilities for a period of up to one year, Mr. Lindberg, Vice President Finance and Administration, would be appointed as Interim President by the Chairperson and would work with the Executive Committee to assure a seamless transition and minimum disruption during the absence of the President. II. Organizational Analysis In addition to the Succession Policy, Barbara was asked to and has completed the following tasks: • Provide individual and collective coaching to the management team on implementation of strategic priorities, �Succession & Organizational Assessment Page 3 • • Refine the performance review system and provide supervisor training on performance coaching, and Review and provide recommendations to the Executive Committee and President on CMF's organizational structure. In completing these tasks Barbara has: interviewed each member of the Executive Committee and the three members of the Management Team, completed Association Benchmarking for comparison purposes, conducted an Emotional Competency Inventory Group and Training for the six supervisors, visited the Southeast Michigan office and conducted a staff scenario planning exercise. While not presenting one recommendation on the organizational analysis, she has presented a Leadership Competency Model enclosed as Attachment A for the President and Board of Trustees, Senior Managers, and All Staff. We look forward to discussing this Model with the Board as part of our May Board Agenda. In addition, Barbara has recommended that any organizational changes considered by Rob include the following internal operating assumptions based on her research: • An increase in Board/Staff collaboration on strategic planning, • More internal/external integration by the management team w ith a clear distinction between internal/administrative and external member focused activities, • Centralization of facilities and office management under core services, • Consideration of outsourcing, such as in regional representatives, and • Changes in the Performance Management System to reflect the optimum flexibility provided by matrix management. Rob will now be working with these recommendations and the Executive Committee on how increased engagement by the Board of Trustees and maximization of the skills of existing staff, with possible new staff, can result in strengthened member services by the following priorities he has identified: 1. Strengthening outreach to family foundations, 2. Focusing services on corporate foundations and giving programs in Southeast Michigan, 3. Increasing communications and marketing for member recruitment, and 4. More partnering with the 40 plus national affinity groups, such as Grantmakers in Education. The Executive Committee has agreed to meet monthly between Board Meetings with Rob as he works on a plan to implement organizational changes that will contribute to these priorities. We realize that any changes will need to be incremental and based on both current revenues and potential revenue generation. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-03-15_Succession-and-Organizational-Assessment Title A name given to the resource Council of Michigan Foundations 2007-03-15 board book succession and organizational assessment Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-03-15 board book succession and organizational assessment. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50683 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-03-15 https://digitalcollections.library.gvsu.edu/files/original/e17faba4738f79d951b37cfebbb51adf.pdf 8cf6d5749baac778c109df1fa95c69e1 PDF Text Text CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. Board of Trustees Meeting Tuesday, May 22,2007 Flint Institute of Arts I :00 - 4:30 p.m. Member Reception to follow AGENDA I. TAB Call to Order & Introductions- Diana Sieger, Chair ACTION ITEMS II. Consent Agenda Approval of March 15, 2007 Board of Trustees Meeting M inutes, April 13, 2007 Executive Committee Minutes Membership Committee Financial Report for 3/31/07 1 III. Urgent Request from Governor and May 3, 2007 Executive Committee Minutes 2 IV. Treasurer's Report- Phil Peters & Dave Lindberg Audit Report for 3/31 /07 (included in back pocket) 3 V. Investment Comm ittee 4 VI. Succession Policy- Rob Collier 5 VII. Government Relations - Libby Maynard & Rob Collier 6 VIII. Public Policy Committee- Dave Egner 7 IX. Executive Session Dave Lindberg OTHER X. Annual Conference Update- Melanie Colaianne & Alan Gilmour 8 XI President's Report- Rob Collier 9 XII. Michigan' s Economy - Discussion & Update Professor Stephen Forrest, Vice President for Research University of Michigan 10 XIII. Other XIV. Adjournment to Regional Philanthropy Reception Next Meeting Date: 35th Annual Conference (October 20-22) Hyatt Regency, Dearborn Monday, October 22, 2007 from 3:00- 5:30p.m., Hyatt Regency, Dearborn � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Board-Agenda Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book board agenda Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book board agenda. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50684 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/87384cf38fc532b83208b33b32a4d681.pdf a1fe62bef84211d0a5c0a7a9fe0af221 PDF Text Text CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. May 14,2007 To: Diana Sieger, Chairperson, & Members of the Board ofTrustees From: Vicki Rosenberg, Vice President & COO Re: Transforming Michigan~ Leading, Innovating, Collaborating 35 1h Atmual Conference, October 21-23, 2007 - Hyatt Regency Dearborn Introduction Planning for Transforming Michigan~ Leading, Innovating, Collaborating, CMF's 35 1h Annual Conference is well underway with an exceptional planning committee led by co-chairs and CMF trustees Melanie Colaianne, MASCO Corporation Foundation; A llan Gilmour, The Gilmour Fund; and Gerald Smith, Detroit Youth Foundation. See Attachment One for a committee roster. Schedule The Conference will officially begin at 3:00pm on Sunday, October 21 with our opening keynote and conclude at 2:00pm on Tuesday, October 23. The Conference will take place at the Hyatt Regency, Dearborn, Michigan. The Conference will provide a wide array of learning and networking opportunities through: • 4 keynote sessions. o Two of the four speakers have been confirmed including Sir Ken Robinson, an internationally recognized leader in the development of creativity, innovation and human resources (Sunday evening), and Henry Lewis Gates, W. E. B. Du Bois professor of the humanities and director of theW. E. B . DuBois Institute for African and African American Research at Harvard University (Monday luncheon). See Attachment Two for Professor Gates bio. • 8 feature sessions including the annual Washington & Lansing Update and Economic Outlook • 18 concurrent sessions • 6 site sessions at Youthville; Mexicantown & ACCESS; UM-Dearborn greenway and Environmental Interpretive Center/Riverfront; Eastern Market; Cultural District/Cultural Alliance; and Villages of Redford, Presbyterian Villages of Michigan. • 6 special opportunities including pre-conference sessions, an experienced grantmaker workshop, a special Corporate Benchmarking workshop for corporate members and an extended fund development/planned giving workshop for small foundations • The special Monday evening event will be held at the Arab American National Museum. Attachment Three is the current draft schedule. �Annual Conference Update May 2007 Page 2 Conference Goals The conference committee is operating with an explicit set of goals and expectations again this year. These are directly tied to the Board of Trustee's goals for and CMF's commitment to increasing its cultural competency and to recognizing, respecting and attracting members from diverse backgrounds. Conference Goals Include: • Design an event that recognizes, honors and welcomes all participants in line with our goals for cultural competency • Provide participants with opportunities to reflect, refresh, and network with peers: be exposed to the latest knowledge and issues facing philanthropy; and Jearn at least one new skill or resource to help them be more effective. • Attract 350 full and 250 partial registrations (at minimum!) • Secure $165,000 in sponsorships and $14,250 in exhibitor fees. Other Expectations: • All materials will clearly communicate CMF' s commitment to diversity and inclusion • Speakers, moderators, events and resources will reflect CMF's diverse membership Sponsorships Building on the sponsorship recruitment strategy implemented in 2006, CMF mailed sponsorship and exhibitor solicitations to 30 former sponsors/exhibitors, 35 corporate members, and 100 new corporate contacts at the state and national level in Apri l. Follow-up activities are underway. To date, $40,000 has been received in sponsorships ($15,000 from both The lies G roup at Merrill Lynch and C omerica Bank; and $10,000 from the MASCO Corporation Foundation. In addition, we have secured one exhibitor, IPEX, Inc. at $2,500). Marketing With the theme of Transforming Michigan - Leading, Innovating, Collaborating finalized and program development underway, aggressive conference marketing will kick off in mid July with the registration brochure mailed to 4600 individuals of member and nonmember eligible foundations. The Conference web site and online registration will also go live in mid-July. A series of targeted e-newsletters will begin August 1 for the following groups: Family Foundations, Corporate, Community Foundations, Trustees/Execs, MI Forum of African American Philanthropy, Program Officers and Communications professionals. This will enable us to highlight and communicate the value of the specific conference offerings to individual interests. We look forward to providing you with additional updates as the conference program takes shape. �ATTACHMENT ONE CMF 35th Annual Conference Committee Roster Co-Chair Ms. Melonie B. Colaianne President MASCO Corporation Foundation 3 13-792-63 78 melonie colaianne@mascohq.com Mr. Allan D. Gilmour President The Gilmour Fund 248-792-2057 Dr. Gerald K. Smith President & CEO Detroit Youth Foundation 3 13-875-3400 gsmith@d etroityouth.org Committee Members Mr. Christopher A. Ballard Partner Bodman L. L. P. 3 13-393-7527 cballard@bodmanllp.com Ms. Sharon E. Bisher Executive D irector H illsdale County Community Foundation 5 17-439-5101 s.bisher@abouthccf.org Ms. Caroline E. Chambers President Comerica Charitable Foundation 3 13-222-3571 caroline chambers@comerica.com Ms. Lisa Cylar Miller Program Officer Community Foundation for Southeast M ich igan 3 13-961 -5575 lmille r@cfsem.org Dr. Richard Dolinski Trustee Midland Area Commu nity Foundation 989-496- 1425 rdolinski@tlcss.org Ms. Tracey Ewing CPA/Senior Manager P lante & Moran, P LLC 248-223-3482 tracey.ewing@plantemoran.com Ms. Pamela Halladay Senior Program Officer Luella Hannan Memorial Foundation 313-833-1300 phalladay@hannan.org Ms. Barbara A. Hill President & CEO Michigan Women's Foundation 734-542-3946 h illb@miwf.org Ms. Kristine L. Huizen Program Officer Frey F oundation 616-45 1-0303 huizen@ freyfdn.org Ms. Mary Ittigson VP of Finance and Administration Community Found ation of Greater Flint 810-767-350 I mittigson@cfgf.org Mr. Mark Lange Executive Director Edward Lowe Foundation 269-445-4221 mark@ lowc.o rg Mr. Bladen McClelland Vice P resident Comerica Bank 313-222-4085 brmccle lland@comerica.com Ms. Dorrian McGhee Communications Manager The Skillman Foundation 313-393-1185 d mcghee@skillman.org Ms. Sue Peters Associate Program Officer Charles Stewart Mott Foundation 810-23 8-5651 speters@mott.org Ms. Brenda G. Price Program Director John S. and James L. Knight Foundation 313-964-1 I 14 price@ knightfdn.org Ms. Kristin Reis Finance/Prog Asst/FORCE Coord Saginaw Community Foundation 989-755-0545 kristin@ saginawfoundation.org �ATTACHMENT ONE CMF 35th Annual Conference Committee Roster Ms. Ann Richards Communications Officer Charles Stewart Moll Fo undation 8 10-238-5651 arichards@ moll.org Ms. Virginia Romano Program 0 fficer The Kresge Foundation Phone: 248-643-9630 vlromano@kresge.org Mr. Miguel A. Satut Program Director Youth & Education W .K. Ke llogg Foundation 269-969-2684 miguel.satut@ wkkf.org M s. Carol Snapp Program Officer/Comm Coord Arcus Foundation 269-3 73-43 73 carol@ arcusfoundation.org Mr. Donald P Southwick First Vice President Morgan Stanley 248-258-27 15 donald.southwick@ morganstanley.com Mr. Joseph S utkowi YAC Member/MCFYP Committee Greenville Area Community Foundation jsutkowi@yahoo.com Mr. Robert Thornton Program 0 fficer The Skillma n Foundation 3 13-393- 11 64 rthornton@ skillman.org Mr. Matthew Wasmund Vice President JPMorgan Asset Management 313-225-3454 matthew.h. wasmund@ jpmorgan.com Mr. Keith D. We igel Regional Manager Non-profit Services National City I Allegiant Asset Mgmt Group 248-729-8344 Keith. Weigel@ allegiantgroup.com Ms. AnneS. W eekley Vice Preside nt Communications Community Foundation for Southeast Michiga n 3 13-96 1-6675 aweekley@cfsem.org Ex-Officio Mr. Robe rt S. Collier President & CEO Council of Michigan Foundations 616-842-7080 rcollier@ cmi f.org M s. Rachel Cathe rine Dunne- Ex-Officio Public Po licy Fellow (May 06-07) Counc il of Michigan Foundations 6 16-842-7080 rdunne@cmif.org Ms. Jeri L. Fischer- Ex-Officio Director Membership & Special Projects Council of Michigan Foundations 6 16-842-7080 jfischer@cmif.org M s. Ka thy Ginocchio - Ex-Officio Director of Technology Council of Michigan Foundations 616-842-7080 kginocchio@cmif.org M s. S us a n Howbe rt - Ex-Officio Director Family Philanthropy Council of Michigan Foundations 313-566-2444 showbcrt@aol.com Mr. David R. Lindber g - Ex-Officio VP Finance and Administration Council o f Mic higan Foundations 61 6-842-7080 d lindberg@cmif.org Ms. Donnell Snite Mersereau- Ex-Officio Director Community Fo undations Council of Mic higan Foundations 616-842-7080 dmersereau@cmi f.org Jaclyn Miei-Uken - Ex-Officio Public Po licy Fellow (May 07-08) Council of Michigan Foundations Phone: 616-842-7080 jmiel-uken@cmif.org M s. Rebecca Noric ks- Ex-Officio Communications Specialist Council of Michigan Foundations 616-842-7080 rnoricks@cmif.org Ms. Vicki J. Rosenberg - Ex-Officio Vice President & COO 6 16-842-7080 vrosenberg@cmi f.org 2 �ATTACHMENT TWO Henry Louis Gates, Jr. Henry Louis Gates, Jr., is theW. E. B. DuBois Professor of the Humanities and the Director of theW. E. B. DuBois Institute for African and African American Research at Harvard University. Professor Gates is Editor-in-Chief of the Oxford African American Studies Center, the first comprehensive scholarly online resource in the field of African American Studies and Africana Studies. He is co-editor with K. Anthony Appiah of the encyclopedia Encarta Africana published on CD-ROM by Microsoft (1999), and in book form by Basic Civitas Books under the title Africana: The Encyclopedia ofthe African and African American Experience ( 1999). His most recent books are America Behind the Color Line: Dialogues with African Americans (Warner Books, 2004), African American Lives, co-edited with Evelyn Brooks Higginbotham (Oxford, 2004), and The Annotated Uncle Tom's Cabin, edited with Hollis Robbins (W. W. N01ton, 2006). In 2006, Professor Gates wrote and produced the PBS documentary also called "African American Lives," the first documentary series to employ genealogy and science to provide an understanding of African American history. He also wrote and produced the documentaries "Wonders of the African World" (2000) and "America Beyond the Color Line" (2004) for the BBC and PBS, and authored the companion volumes to both series. Professor Gates is currently at work on a sequel to "African American Lives." Professor Gates is the author of several works of literary criticism, including Figures in Black: Words, Signs and the "Racial" Self(Oxford University Press, 1987); and The Signifying Monkey: A The01y ofAfro-American Literary Criticism(Oxford, 1988), winner of the American Book Award in 1989. He authenticated and facilitated the publication, in 2002, of The Bondwoman's Narrative by Hannah Crafts, the only known novel by a female African American slave and possibly the first novel by an African American woman. He is the co-author, with Cornel West, of The Future ofthe Race (Knopf, 1996), and the author of a memoir, Colored People (Knopf, 1994), that traces his childhood experiences in a small West Virginia town in the 1950s and 1960s. Professor Gates has edited several influential anthologies, including The Norton Anthology ofAfrican American Literature (W. W. Norton, 1996); and the Schomburg Librmy ofNineteenth Century Black Women Writers (Oxford, 1991). In addition, Professor Gates is editor of Transition magazine, an international review of African, Caribbean, and African American politics. An influential cultural critic, Professor Gates's publications include a 1994 cover story for Time magazine, numerous articles for the New Yorker, and in September 2004, a biweekly guest column in The New York Times. �Professor Gates earned his M.A. and Ph.D. in English literature from Clare College at the University of Cambridge, and his B.A. summa cum laude in English language and literature from Yale University in 1973. Before joining the faculty of Harvard in 1991, he taught at Yale, Cornell, and Duke. His honors and grants include a MacArthur Foundation "genius grant" (1981), the George Polk Award for Social Commentary (1993), Time magazine's "25 Most Influential Americans" list (1997), a National Humanities Medal (1998), election to the American Academy of Arts and Letters (1999), the Jefferson Lecture (2002), and a Visiting Fellowship at the School of Social Science at the Institute for Advanced Study at Princeton (2003-2004). He has received 44 honorary degrees. Professor Gates served as Chair of the Department of African and African American Studies at Harvard from 1991 to 2006. �ATTACHMENT THREE CMF 351h ANNUAL CONFERENCE DRAFT SCHEDULE- MAY 14, 2007 SUNDAY, OCTOBER 21 Networking Luncheons General, Family Foundation, Community Foundation 12-12:45 pm Special Seminar for Trustees & CEOs (Ron He ifetz) T rustees/ CEOs CF YAC ExpGM Collier Lead Coleman Goorhouse Rosenberg Lead Lead Lead AFI Lindberg Lead Gov GM Skill G M Skill CF YAC Howbert Miel-Uken Fischer Mersereau Goorhouse Lead Collaborate Innovate Innovate Innovate All Collier Lead 2007 U pdate: The Economic Balancing Act Communicating Failure: the importance of sharing the hard lessons as well as your successes/ Increasing Public Understanding of Philanthropy Hidden Treasure: Discovering Michigan's Quiet Weal th (CF only) Michigan's Workforce: Can We Turn Autoworkers into Nurses? AFI Comm. L indberg R osenberg Lead Innovate CF G M Issue Mersereau M iel-Uken Collaborate Collaborate Special Session Time? Special Session for Professional Advisors CF Collier Lead Concurrent How to Read Financial Statements for Non-Finance Staff Asset Allocation and Spending Policy Culturally Sensitive Communications- H ow to Do it Right Managing Corporate Social Responsibility: The Good, the Bad and the Ugly Exit Strategies: Passing the Family Foundation Baton Tools for Collaborative Grantmaking that Responds to Community Need AFI AFI Comm. Corp Lindberg L indberg R osenberg H owbert Lead Lead Collaborate Lead FF GM Skill H owbert Fischer Lead Lead Pre-Conf Meetings & Workshops 1:00-2:45 pm Community Foundation Program Officers' Meeting (ProNet?) Youth Grantmaker Meeting Advanced Grantmaking Workshop (Pre-conf) Ron Heifetz, Ken nedy School, Harvard Concurrent 4:30-5:30 pm A lternative Investme nt Strategies for Small Foundations & Efficient Access to Non-Traditional Products Governance I 0 I Advocacy and Stake ho lder Engagement, Do' s and Don'ts Techniques For Managing Internal Change at Foundations Backroom Operations- A W in-Win Situation for Everyo ne The Value of Youth to a Community General, Affinity Groups Dinner & Speaker Ken Robinson, Getty Trust Honorary Chair Recognition 7:00-9:30 pm MONDAY, OCTOBER 22 Feature 9:00-10:30 am 11:00 am12:15 pm �ATTACHMENT THREE CMF 351h ANNUAL CONFERENCE DRAFT SCHEDULE- MAY 14, 2007 Henry Louis Gates CMF Board of Trustees Collier Collaborative Service Delivery for Children & Youth (Youthville) Micro finance for Business Development (Mexicantown/ ACCESS) Connecting Michigan: State Trails Plan and Regional Building Blocks (Riverfront) Food Philanthropy (Eastern Market) Arts (Cultural District/Cultural Alliance) New Way to Age: Green Houses in M ichigan (Villages of Redford, Presbyterian Villages of Michigan) GM Issue GM Issue GM Issue M iei-Uken M iei-Uken Miei-Uken Collaborate Innovate Lead GM Issue GM Issue GM Issue M iei-Uken Miei-Uken M iel-Uken Innovate Innovate Innovate Reaching Audiences With On-line Tools/Web Writing Innovative T hinking Fund Development for Small Foundations/Planned Giving Corporate Benchmarking Comm. GM Skill CF Corp Rosenberg Howbert Mersereau Howbert Innovate Innovate Lead Lead Diversity and Leadership: A Winning Combination Regionalism for Michigan's Future Legislative Update From Insight to Action/Impact-Evaluation Session GM GM GM GM Fischer M iel-Uken M iei-Uken Fischer Lead Lead Lead Lead Framing Your Issues for Greater Impact Getting Your Family Board in Order Sustaining Nonprofit Capacity Building Economic Gardening -New Strategies in Community and Economic Development Green, Clean and Lean (Environment and Health) Strategies for Early Education Comm. GM Skill GM Skills Rosenberg Howbert Fischer M iei-Uken Lead Lead Lead Innovate GM Issue GM Issue M iei-Uken M iei-Uken Collaborate Collaborate Collier M iei-Uken Innovate Lead CMF Board Meeting 12:30-2:00 pm Site 2:30-5:00 pm Workshop 2:30-5:00 pm Arab American National Museum TUESDAY,OCTOBER23 Feature 9:00-10:30 am Concurrent 11:00 am12:15 pm Skill Issue Issue Skill FF THESE SESSIONS STILL NEED A SPOT/TO BE CLASSIFIED Special/ Needs a Spot Play and the Creative Imagination Experienced and Engaged: How People over 60 are Making an Impact in their Communities GM Issue GM Issue � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Conference-Committee-Report Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book conference committee report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book conference committee report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50685 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/f1874fa3437850cf9e67fa3c0cf3d8a8.pdf d41ca16ea09fb946cf31256f78e5a72e PDF Text Text CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. One South Harbor Avenue · P.O. Box 599 · Grand Haven. Ml 49417 (616) 842-7080 · FAX (6 16) 842-1760 · cmf@cmif.org · www.cmif.org Date: May 14,2007 Memo to: CMF Board of Trustees From: Phillip Peters, Audit Committee Chair RE: CMF 3-31-07 Core Operations and Endowment Funds Internal Financial Statements Resolved that the CMF Board of Trustees accept the March 31 , 2007 CMF Core Operations and Endowment Funds Internal Financial Statements as recommended by the CMF Audit Committee. On May 7, 2007, the MAF Audit Committee met and reviewed the attached internal statements. Differences between internal Statements and Audited Statements Due to the multi-year grant commitments received from Kellogg for its additional dues contribution and Skillman for the Detroit office support, it should be noted there will be a difference between the internal and audited statements for CMF Core Operations until both of these grants end. Since the goal for Core Operations is to run on a break even basis the revenue for the two grants noted above is being booked internally in the year to which it applies, even though for audit purposes the entire grant amount was booked when awarded. Grant Kellogg Additional Member Contribution ($750,000 for 2005-06 to 2009-2010) Skillman Detroit Office Support ($75,000 2006-07 to 2008-09) Additional Revenue Booked Per Internal Statements $150,000 25,000 For audit report purposes the total amount of both grants were booked as revenue in 2005-06. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �terns to Not£1 CMF Core Operations ended the year with a surplus of $ 110,761 , which is due to the following line items: Line Item Additional Surplus on Annual Conference Investment Income Wages Technology Professional Services Over (Under) Budget 34,000 $82,000 (24,000) (42,000) 73,000 Core Operations: Note 1: Member Contributions The variance from budget is primarily due to the payment of dues that were outstanding from 2005-06 (Jewish Funds paid $16,200). Note 2: Other Grants The $25,000 is year one of Skillman's 3-year commitment to support the Detroit office. Note 3: Conference Income The Annual Conference from October 2006 generated a surplus of $136,000 vs. a budget of $ 102,000. $10,000 of the Essential Skills registration fees has been deferred until 07-08 to cover the 2nd and 3'd sessions ofthis series. Note 4: Publication Income Included in the total budget amount of $93,000 is $27,600 for Directories that will be given to the Michigan Congressional delegation in Washington, DC and Lansing which were charged in March 2007 to the Riecker and Mawby Endowment Funds. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Note 5: Investment Earnings The variance from budget is primarily due to the following special projects dollars remaining at 3-31-06, plus the Kellogg ECIC grant which was new in 2006-07. Joyce Early Childhood Tobacco Settlement IDA Funding 3 Year Technology Funders $334,000 160,000 593,000 218,000 Note 6: Wages The favorable variance is due to staff time spent on special projects. Note 7: Equipment Maintenance The variance from budget is due to the copier maintenance contract being lowered from $2,800 to $400 per quarter due to the reduction in the number of copies being produced. This is due primarily to the increased use of the internet to communicate to our members. Note 8: Technology The projected variance from budget is primarily due to the following items: Replace PCs - Used technology grant dollars Support for SE Michigan Office less than anticipated Enhancement to website- holding off until 07-08 Web hosting and Forum support- used technology grant dollars S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc $5,000 3,400 10,000 15,000 �Note 9: P r ofessional Services Newsclip service Public Affairs Legal - Clark H ill Miller Canfield Donor Intent - Ford Foundation Audit Fees Strategic P lanning Mise - Rapaport Consulting services Total 4,400 3,000 100 Actual 3-31-07 3,739 18,000 9,167 2 1,103 4,111 8,716 35,909 !S38,000 $100,745 Annual Bud2et 4,000 18,000 8,500 CMF Endowment Funds ~lien Fund Confer ence & M eetings Since support was not received this year from DTE Energy for the Foundations on the Hill dinner, $5,000 of the Directories given to the M ichigan delegation in Lansing and Washington DC were charged to the Riecker Fund. Foundations on the Hill Dinner Foundations on the Hill Lunch L ibrary of Congress- Funded by Peter & Julie Cummings Foundation $4,402 825 Russell G. Mawby Fund This line item represents 25% of the Publ ic Policy Fellow wages & benefits starting in August 2006. T echnology I NCFP Online Annual Subscription $3,6oo I S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Association Dues & Sponsorships MNA Sponsorship SuperConference Michigan Women' s Foundation Sponsorship Governor' s Service Award Sponsorship Governor' s Service Award increase for video AFP National Philanthropy Day MNA Nonprofit Day 2006 $1,000 1,500 2,500 2,500 500 500 Subscriptions Since the selling price for the D irectories sold to the Michigan League for Human Services was below cost, the difference of $1,450 was charged to this line item. The remaining amount of $ 13,530 represents a portion of the 15th Edition ofthe Directory give to the Michigan Legislative delegation. Communications & Pu blications I Establishing a Charitable Foundation Update $3,935 I Professional Services B. Rapaport remaining Diversity work GVSU Support for Johnson Library reorganization Clark Hill -Establishing Charitable Found. $10,038 3,680 711 Travel I Dinner Governor's Service Award for CMF members $1 ,424 I Mawby Kids Wages & Benefits This line item includes wages for the Y AC Program Associate and Summer Intern. Association Dues Michigan Campus Compact 2007 Outstanding Student Service Award. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Professional Services Line Item Cris Kooyer - Consultant Mise U ofM Evaluation training Total 12 Month Budget $4,200 9,000 Actual $0 0 7,500 $7,500 $13,200 Meetings Line Item Family Retreat Youth Activities Honorary YAC Chair CMF Annual Conference Pistons' Award CMF Annual Conf. Total 12 Month Budget $3,000 $1,000 Actual $1,250 500 $4,500 $1,250 The only charges to the June 2006 Family Retreat so far are $700 for County Line Tours and youth stipends of$550. The Honorary YAC Chair was charged to the Annual Conference budget. M CFYP Endowment Fund Conference & Meetings - Revenue The year-to-date revenue includes the following meetings: $14,400 Youth Summer Conference EMU June 2006 YAC Regionals 2,505 Wages & Benefits This line item represents support ofYAC activities. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Travel & Seminars Line Item Youth Travel Youth Travel - Mersereau Site Visits - Coleman Total 12 Month Budget $5,500 5,000 1,000 $11,500 Actual $3,419 484 79 $3,982 Conference & Meetings Line Item Sutnmer Youth Conference Sutmner Youth Conference 6-07 YAC Regionals YAC Advisor Calls MCFYP Committee meetings Total 12 Month Budget $40,300 Actual $39,419 107 2,306 267 2,609 $44,708 5,000 800 1,500 $47,600 Dorothy Johnson Educational Fund Professional Services CMF reimbursed the Johnson Center on Philanthropy at GVSU $13,680 to help cover the labor costs to reorganize the library material that was sent over from CMF. $10,000 was charged to this fund with the other $3,680 being covered by the Mawby Fund. Interfund Grant This amount was to support the October 2006 Annual Conference speaker expenses. Community Foundation Technology Fund Technology MicroEdge CF database work Bromelkamp CF database work ITP CF database work Williams Group For Good Forever Website Domain Renewal $1 ,125 500 1,243 1,558 115 S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Consulting Fees Covers the support fees from Bill Nethercut, FIMS software consultant. Riecker Endowment Fund Wages & Benefits Represents 75% of the Public Policy Fellow wages & benefits starting August 1, 2006. Books & Subscriptions This line is for the Directories given to the Michigan legislative delegation that were originally budgeted to be charged to the Allen Fund. Professional Fees Based on the funds remaining from the Early Childhood Funders group ($3,925) the remaining cost for the White paper produced in December was charged to this fund. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lntemal Financials.doc �Council of Michigan Foundations Core Services Internal Statement of Activities 4-1-06 to 3-31-07 12 Month Budget 2006-07 Revenues Membership Investment Additional Member Contributions Other Grants Conference & Meetings Publications Other Income Investment Earnings Total Revenues Program/Admin Expenses Wages & Benefits Occupancy Telephone Equipment Lease & Maintenance Postage Supplies Insurance Equipment & Furniture Depreciation Technology Dues & Sponsorship Books & Subscriptions Communications/Publications Professional Services Travel Training & Seminars Conference & Meetings (Gain)/Loss Sale of Fixed Assets Overhead Allocation to Spec Projects Total Program/Admin $ 12 Month Actual 3/31 /2007 944,000 192,000 25,000 547,000 93,000 9,000 65,000 1,875,000 959,509 184,460 25,000 569,058 65,452 3,842 147,341 1,954,662 Note 1 921 ,000 63,000 19,000 15 ,000 34,000 28,000 6,000 896,610 61 ,973 15,858 2,088 20,384 28,675 6,412 Note 6 87,000 30,000 6,000 127,000 38,000 52,000 17,000 444,000 44,642 26,854 5,732 128,737 100,745 56,090 9,788 451 ,859 (800) (11 ,746) 1,843,901 Note 8 (12,000) 1,875,000 $ Grants Challenge Grants Mini-Grants Computer Grants Other Grants Total Grants 0 0 Excess Revenues Over Expenditures 0 110,761 1,704,351 0 1,704,351 1,704,351 110,761 $1,815,112 Beginning Net Assets CHANGE IN FUND BALANCE Ending Net Assets S:\Finance\Financial Statements\06·07'\CMF FS 3-31..07 Note 2 Note 3 Note 4 Note 5 Note 7 Note 9 Note 3 �CMF Endowment Funds Consolidated Statement of Activities and Changes in Net Assets 4-1-06 to 3-31-07 Endowment Funds Allen Fund Revenues Spendable Income Membership Investment Additional Member Contributions Other Grants Conference Income Publications Other Income Investment Income Total Revenues 8,000 Russell G. Maw by Fund 66,000 Mawby Fund For Kids 38,000 Jo hnson Educational Fund Community Foundation Endowment Endowment 45,000 294,000 52,000 3,500 1,425 MCFYP 6,500 17,934 Rl ecker Fund 49,000 Co mm Fdn Technology Fund Richardson Reitz Public Invest. Education Polley 22,000 10 16,905 39,684 2 1,454 30,879 Program/Admln Expenses Wages & Benefits Occupancy Telephone Equipment l ease & Maintenance Postage Supplies Insurance Equipment & Furniture Depreciation Computer Dues & Sponsorship Books & Subscriptions Communications/Publications Professional Services Travel Training & Seminars Conference & Meeting Total Program!Admin 103,816 121 ,194 869,846 14 1,816 169,694 1,227,964 140,773 209,678 143,547 192,557 8,860 22,722 206,864 11,625 36,870 56,624 78,624 53,513 53,513 6,687 6,687 1,674 159 328 3,200 5,491 1,924 8,565 8,500 14,980 3,223 23,991 1,437 49 64,240 GRANTS Challenge Grants Mini-Grants Computer Grants Other Grants Total Grants 500 7,500 137 335 14 388 1,890 99 100 40 160 730 237 698 10,000 1,535 29,744 11,836 2,915 18,157 275,217 Total 12 Month Budget 2006..07 574,000 574,000 10,010 36,264 24,900 39,684 181,466 247,4 66 810 340 2006-07 2,932 1,050 44,708 61,116 19 184 10 4,541 598,900 286,941 3 11,000 1,674 1,500 1,1 39 1,575 2,400 9,740 9,830 20,207 4,081 81,455 25,818 4,430 66,14 1 513,031 4,950 1,075 2,542 1,698,920 2,358,878 9,145 45 465 53 1,250 33,994 10,000 3,403 3,403 400 400 35,000 38,403 35,400 38,803 46,168 13,731 700 8,000 7,500 29,100 13,200 70,300 41 ,800 3,800 63,600 552,900 46,000 46,000 Excess Revenues Over Expenditures 22,31 4 183,226 107,422 121,291 952,747 148,562 146,389 64,893 53,513 6,687 1,807,044 Beginning Net A ssets Transfer from Other Funds Excess Revenues over Expenditures Ending Net Assets 198,171 1,702,899 975,348 1,131,372 8,097,800 1,328,773 1,339,192 525,478 402,823 50,272 15,752, 128 15,752,128 14,3 14 117,226 $212,485 $1,820,125 69,422 $ 1,044,770 76,291 $ 1,207,663 658,747 $8,756,547 96,562 $1,425,335 97,389 $1,436,581 42,893 $568,371 53,513 $456,336 6,687 $56,959 1,233,044 $16,985,172 $15,752,128 S:\Finance\Financial Statements\06-07\CMF FS 3-31-07 �CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. One South Harbor Avenue · P.O. Box 599 · Grand Haven. Ml 49417 (616) 842-7080 · FAX (616) 842-1760 · cmf@cmif.org · www.c m if.org Date: May 14,2007 Memo to: Diana Sieger, Chairperson, and Members of the Board of Trustees From: Phillip Peters, Audit Committee Chair RE: CMF/Supporting Organizations March 31, 2007 & 2006 Audit Report RESOLVED that the CMF & Supporting Organizations March 31, 2007 & 2006 Audit Report as recommended by the CMF Audit Committee be accepted. On May 7, 2007, the CMF Audit Committee met with Rehmann Robson to review the enclosed audit report, which includes an unqualified opinion. During this meeting Rehmann Robson noted there were no Management Letter items to report. Below are a few highlights of variances from the prior year numbers. Combined Statement of Financial Position Cash The decrease from the prior year is primarily due to the $3,000,000 received in 2005-06 for the LTG Endowment Fund that was invested in stocks and bonds in 2006-07 (May 2006). Investments $3,000,000 ofthe increase from the prior year is due to the investment of the LTG Endowment Fund noted above. The remaining increase is due to market gains on the investments in 2006-07. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\Audit Report.doc �Grants Receivable The increase from the prior year is primarily due to the balances remaining on the following grants that were awarded in 2006-07. Grant Access to Recreation Early Childhood Investment Corporation AIR (ri), 3-31-07 $7,285,000 4,250,000 Accounts Payable $ 146,000 of the increase is due to reimbursement of League expenses for the new grant received from LTG in 2006-07. Grants Payable The decrease from the prior year is due to MAF's loss of the MDCH prevention regranting dollars in 2006-07. Net Assets- Temporarily Restricted The increase from the prior year is due to the following new projects for 2006-07, less the disbursements from the KYIP Fund of $2,602,000 in 2006-07. Grant Access to Recreation Early Childhood Investment Corporation Balance 3-31-07 $10,954,694 4,213,907 Combined Statement of Activities Member Contributions The decrease from the prior year is due to the five year $750,000 general operating grant from the Kellogg Foundation that was booked as revenue in 2005-06. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\Audit Report.doc �Grant Support The increase from the prior year is primarily due to the following new grants received in 2006-07: Access to Recreation Early Childhood Investment Corporation $14,767,161 6,339,775 Less the following grants that were new in 2005-06. Lilly LTG Support Kellogg LTO/League Merger $800,000 5,708,324 Grants - Expense The increase from the prior year is primarily due to the disbursements from the fo llowing grants which were new in 2006-07. Access to Recreation Early Childhood Investment Corporation $3,462,000 2,100,000 S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\Audit Report.doc �CMF Council of Michi an Foun~ations Serving grantmakers. Advancing giving. May 14,2007 Memo to: Diana Sieger, Chairperson and Members of the Board of Trustees From: David R. Lindberg, Vice President Finance & Administration Re: March 31, 2007, Investment Report The following Resolution is presented for consideration: RESOLVED that the March 31, 2007, Investment Report and revised Investment Policy Statement be accepted, as r ecommended by the CMF Investment Committee. And RESOLVED further, that CMF Trustee Rachel Mraz be appointed to the Investment Committee for a three-year term starting Aprill, 2007. On a quarterly basis, the combined Investment Committee for the Council of Michigan Foundations (CMF), Michigan Community Foundations' Venture (MCFV), Learning to Give (LTG) and the Michigan AIDS Fund (MAF), meet to review the investment performance for the operating and permanent endowment funds. New Business On May 10, 2007, the Investment Committee met to review and approve the enclosed reports. During this meeting the committee discussed or approved the following items: • • • • Revised the Investment Policy Statement to allow for investment in alternative asset categories (see attached), Confirmed the allocation of 25% of the investment pool into the TIFF Multi-Asset Fund, which includes alternative investment categories, pending approval of the revised Investment Policy Statement by the CMF Board, Scheduled a meeting to review the Commonfund Capital Partner's IV fund which closes on June 5, 2007 and includes U.S. & International Private Equity, Global Venture Capital and Natural Resources, and Agreed to explore investment consulting service providers. �Investment Report Page 2 The enclosed Investment Report is presented in two sections. Investment Performance Report & Asset Allocation The benchmark is based on the targeted asset allocation noted in the attached report using the following return information Asset Class S&P 500 S&P 400 S&P 600 EAFE FTSE NAREIT Equity Index Lehman Bros. Aggregate Allocation 37.0% 9.0% 6.0% 13.0% 5.0% 30.0% Investment Performance Comparison Report In addition to the Cambridge & Associates, Inc. pool of colleges, universities, and foundations, the committee has recently added the TIFF Multi-Asset fund for comparative purposes. The TIFF product is unique in the fact that it offers smaller foundations access to alternative investment products which have enhanced returns over the last several years. The reason this report lags the CMF Investment R eport by one quarter is due to the time it takes Cambridge to collect the results from the pool participants. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\Investment Report 3-3107.doc �Council of Michigan Foundations Investment Report March 31, 2007 Investment Balance 3-31-07 Actual Asset Allocation Cash Targeted Asset Allocation Cash Operating Funds CMF Operating & Special Projects $3,573,343 100% 100% MCFV Special Projects $3,864,807 100% 100% KYIP Fund $7,440,285 100% 100% $366,312 100% 100% $1,166,109 100% 100% Michigan AIDS Fund Learning to Give Note: All operating funds are invested in money m arket accounts. Endowment Pool -Asset Mix Market Value LargeCap MidCap SmaiiCap International Real Estate Equity Trust Total Equities $6,210,743 1,610,708 1,037, 190 2,14 1,552 837,695 11,837,888 Cash Equivalents Short Bond Fund Bond Fund High Yield Bond Total Cash & Fixed Income Grand Total (23,443) 2,202,486 2,130,037 837,765 5,146,845 $ Actual % Target% 36.6% 9.5% 6.1 % 12.6% 4.9% 70% 37% 9% 6% 13% 5% 70% -0.1 % 13.0% 12.5% 4.9% 30% 0% 13% 13% 5% 30% 100% 100% 16,984,733 Endowment Pool Compound Annual Rate of Return One Year Three Year Five Year 10Year Actual Investment Return 10.96% 10.57% 8.98% 8.95% S & P Benchmark 11.14% 10.47% 8.77% 8.84% S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lnvest Report 3-31-07 �Learning to Give Investment Report March 31, 2007 LTG Endowment Fund -Asset Mix Market Value LargeCap MidCap SmaiiCap International Real Estate Equity Trust Total Equities Cash Equivalents Short Bond Fund Bond Fund High Yield Bond Total Cash & Fixed Income Grand Total $ Actual % Target % $1 ,209,020 31 3,322 201,741 464,790 163,164 2,352,037 36.4% 9.4% 6. 1% 14.0% 4.9% 71% 37% 9% 6% 13% 5% 70% 35,740 384,390 389,662 161 ,968 971,760 1.1 % 11.6% 11.7% 4.9% 29% 0% 13% 13% 5% 30% 3,323,797 100% 100% Endowment Pool Compound Annual Rate of Return One Year Three Year Five Year 10Year Actual Investment Return N/A N/A N/A N/A Lipper Median Benchmark N/A N/A N/A N/A Investment of this new endowment fund took place in May 2006 This fund was established with a $3,000,000 grant from the W.K. Kellogg Foundation S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lnvest Report 3-31-07 �Council of Mic higan Foundations Investment Performance Comparison 12/31/2006 Actual Returns Period Ending Quarter Lipper (Med ian) 5.63% CMF Cam bridge Pooled Pool Funds (Med ian) 5.96% 6.30% TIFF Mult i Asset 6.74% 13.13% 14.55% 14.60% 16.53% Three Years 9.91 % 11.11% 12.30% 14.25% Five Years 7.59% 8.89% 9.80% 12.09% Ten Years 7.57% 8.93% 9.80% 8.53% One Year Bench Marks Wilshire 5000 S&P 500 Russell2500 LB Aggregate MSCI EAFE CPI-U Qtr Ending 7.3% 6.7% 8.7% 1.2% 10.4% -0.5% Asset Categories Cambridge Pool US Equities International Equities Fixed Income (less high yield) Cash Other Total Other - Detail Real Estate Hedge Funds Distressed Securities Arbitrage Venture Capital Private Equity Oil & Gas Partnerships High Yield Bonds Absolute Return Commodities Resource-Related Stocks Other 29.9% 21.6% 15.8% 3.8% 28.9% 100.0% Period Ending One Yr Three Yrs 11.5% 15.9% 15.8% 10.4% 16.2% 14.1 % 4.3% 3.7% 26.3% 19.9% 2.5% 3.1% Asset Allocation CMF Target 52.0% 13.0% 25.0% Five Yrs Ten Yrs 7.6% 8.7% 6.2% 8.4% 12.2% 11.3% 5.1 % 6.2% 15.0% 7.7% 2.7% 2.4% TIFF Multi Asset 48.5% Includes Inti 13.8% 10.0% 100.0% 37.7% 100.0% 5.0% 0.4% 5.4% 9.5% 1.1% 5.2% 1.3% 2.6% 0.9% 0.2% 5.0% 2.7% 28.9% 10.0% 0.5% 11.1% 3.9% 7.4% 14.4% Includes Cash 37.7% *Represents the latest return numbers available from Cambridge & TIFF. S:\Boards and Committees\CMF\Board\2007-08\05.22.07 Meeting Materials\lnvest Report 3-31-07 �CMF Council of Michi an Foun~tions Serving grantmakers. Advancing giving. Council of Michigan Foundations & Supporting Organizations Learning to Give Midwest Community Foundations' Ventures Michigan AIDS Fund Endowed & Operating Funds Investment Policy Statement I. DEFINITIONS ll. OBJECTIVES ill. IMPLEMENTATION IV. OPERATING & SPECIAL PROJECTS FUNDS Revised by the Investment Committee: 5-l 0-07 Approved by CMF Board of Trustees: 5-22-07 S:\FINANCE\JNVESTMENTS\POLICIES\CM F POLICY REVISED 5-1 0-07.DOC �I. DEFINITIONS PURPOSE This Investment Policy Statement was adopted by the Council of Michigan Foundations (CMF) to establish a clear understanding of CMF's philosophy and investment objectives. As the parent corporation of three supporting organizations, this policy also covers Learning to Give, Michigan Community Foundations' Ventures and the Michigan AIDS Fund. The purpose ofCMF's endowment funds is to accumulate a pool of assets sufficient to support the purpose of each permanent endowment fund. While shorter-term investment results will be monitored, adherence to a sound long-tenn investment policy, which balances short-term spending needs with preservation ofthe real (inflation-adjusted) value of assets, is crucial to the long-term success ofCMF's endowment funds. Throughout this policy, the reference to CMF will also include the supporting organizations of Learning to Give (LTG), the Michigan Community Foundations' Venture (MCFV) and the Michigan AIDS Fund (MAF). SCOPE This Policy applies to all assets that are included in CMF's investment portfolio for which the Investment Committee has been given discretionary investment authority. FIDUCIARY DUTY In seeking to attain the investment objectives set forth in the policy, the Investment Committee and its members shall exercise prudence and appropriate care in accordance with the Prudent Investor Rule. All investment actions and decisions must be based solely in the interest of CMF. Fiduciaries must provide full and fair disclosure to the Investment Committee of all material facts regarding any potential conflicts of interest. DEFINITION OF DUTIES Board of Trustees The Board of Trustees has the ultimate fiduciary responsibility for the Foundation's investment portfolio. The Board must ensure that appropriate policies governing the management of the Foundation are in place and that these policies are being effectively implemented. To implement these responsibilities, the Board sets and approves the Investment Policy Statement and delegates responsibility to the Investment Committee for implementation and ongoing monitoring. �Investment Committee The Investment Committee is responsible for implementing the Investment Policy. This responsibility includes approving investment strategy, hiring and firing of investment managers, custodians and investment consultants, monitoring perfonnance of the investment portfolio on a regular basis (at least quarterly), and maintaining sufficient knowledge about the portfolio and its managers so as to be reasonably assured of their compliance with the Investment Policy Statement. Committee Structure & Tenns • • • • • Investment Committee members shall have sufficient investment knowledge to meet their responsibilities as outlined in the paragraph above. Committee members shall be appointed by the CMF Board of Trustees. At least one member shall be a CMF trustee. Committee members shall be appointed for a three-year tem1. Committee members may not be an employee (that may cause a perceived conflict of interest with any finn or individual that provides investment management or investment consulting services to CMF or its supporting organizations. If a member is an advisor or board memben of an investment finn that CMF deals with the member shall abstain from voting on issues related to that finn. Chief Financial Otlicer - Vice President of Finance & Administration The Vice President ofFinance & Administration has daily responsibility for administration of the Foundation's investment portfolio and will consult with the Investment Committee and Board on all matters relating to the investment of the Foundation's portfolio. The Vice President of Finance & Administration will serve as primary contact for the Foundation's investment managers, investment consultant, and custodian. II. OBJECTIVES The overall long-term investment goal of CMF is to achieve an annualized total retum (net offees and expenses), through appreciation and income, greater than the rate of inflation (as measured by the broad, domestic Conswner Price Index) plus 5%, thus protecting the assets against inflation. The assets are to be managed in a manner that will maximize the benefits intended by the donors. STRATEGY The Board and Investment Committee agree that investing in securities with higher return expectations outweighs their short-tem1 volatility risk. As a result, the majority of assets will be invested in equity or equity-like securities. Fixed income securities will be used to lower the shorttem1 volatility of the portfolio and to provide income stability, especially during periods of weak or negative equity markets. Cash is not a strategic asset of the portfolio, but is a residual to the investment process and used to meet short-tenn liquidity needs. 2 �ASSET ALLOCATION Deliberate management of the asset mix among classes of investments is both a necessary and desirable responsibility. In the allocation of assets, diversification of investments among asset classes that are not similarly affected by economic, political, or social developments is a highly desirable objective. The Investment Committee's general policy shall be to diversify investments among ultiplc asset classes so as to provide a balance that will enhance total return, while avoiding undue risk concentrations in any single asset class or investment category. The diversification does not necessarily depend upon the number of industries or companies in a portfolio or their particular location, but rather upon the broad nature of such investments and of the factors that may influence them. In making asset allocation judgments, the Investment Committee is not expected to seek to "time" subtle changes in financial markets, or to make frequent or minor adjustments. Instead, the Investment Committee is expected to develop and adopt expressed guidelines for broad allocations on a long-term basis, in light of current and projected investment environments. o achieve broader diversification for the CMF Endowment portfolio, the Investment Committee ma)1 akc investments often classified as "alternative investments" w hich could include, but arc no~ imitcd to, investments in private equity, real estate, natural resources, commodities, buy out, p-tczzaninc, venture capital, private equity special situations, liquidation portfolios, hedge ~md/or absolute return, and multi-asset commingled funds, fund of funds, and other investment categories. ~n~ Asset Class ILow lllig_h1 60% 40% 100% !Equities !Fixed Incomq ffotal 80% 20% 100% 1 1 ~t the Investment Committee level a detailed asset allocation policy shall be developed as the committee deems appropriate (such as large, mid and small cap U.S. equities) and will be reviewed on regular basis. ACTIVE VS. PASSIVE MANAGEMENT The above asset allocations will be implemented through a portfolio of active and passive managers. REBALANCING he Investment Committee shall monitor the actual asset allocation on a quarterly basis and make any ccessary adjustments it deems appropriate based on past pcrfonnancc and current and expected arkct conditions. 3 �SPENDING POLICY Income available for spending is detennined by a total return system and will be calculated using a per unit measure as highlighted below. The income/unit that may be spent annually, notwithstanding the historical gift amount, shall not exceed 5% of the average fair market/unit value of the individual endowment fund's assets as measured at the end of each quarter, for the previous twenty quarters or all quarters since the inception of the fund (whichever is shorter). Newly established endowment funds shall be fully invested for four quarters before distributions may be made from the funds. On an annual basis, the Investment Committee shall examine the effect the spending policy may have on those funds where the market value has dropped below the original gift amount, and may adjust downward the spendable amount for the coming fiscal year as deemed appropriate. Ill. IMPLEMENTATION TIMEHORIWN The Investment Committee seeks to achieve or outperform the targeted expected returns, as defined by the asset allocation decision, over a full market cycle. The Investment Committee does not expect that all investment objectives will be attained in each year and recognizes that over various time periods, investment managers may produce significant over or under performance relative to the broad markets. TI1e Investment Committee reserves the right to evaluate and make any necessary changes regarding investment managers over an appropriate time period using the criteria established under "Manager Evaluation" below. MANAGER EVALUATION All investment returns shall be measured net offees. Each investment manager will be reviewed by the Investment Committee on an ongoing basis and evaluated upon the following criteria: a) Avoidance of regulatory actions against the firm, its principals or employees; b) Adherence to the guidelines and objectives of this Investment Policy Statement; c) Avoidance of significant deviation from the style and capitalization characteristics defined as "nom1al" for the manager; d) Ability to exceed the return of the appropriate benchmark index and, for equity managers, produce positive alpha (risk-adjusted return) w ithin the volatility limits set in the following "Summary of Quantitative Performance Objectives" table; and e) Ability to meet or exceed the median performance of a peer group of managers with similar styles of investing. 4 �SUMMARY OF QUANTITATIVE PERFORMANCE OBJECTIVES he Investment Committee shall develop a benchmark for the total portfolio to measure the ovcm"i] iP.Crformancc to the portfolio and monitor the performance on a quarterly basis. dividual fund managers shall be evaluated based on the benchmarks as noted in their marketing atcrials. IV. OPERATING & SPECIAL PROJECTS FUNDS PURPOSE CMF is an association offoundations and corporations which make grants for charitable purposes. As a membership organization, its mission is to enhance, to improve and to increase philanthropy in Michigan. The purpose of the CMF operating and special projects funds is to finance the daily operations and support the special project work of CMF. OBJECTIVE The objective is to invest the Operating Fund assets so as to achieve a high degree of safety for the principal value of the assets, while earning a reasonable rate of return available in the market place at the time of investment. Investments should not be made that could jeopardize the flexibility and liquidity ofCMF's operations. INVESTMENT GUIDELINES Direct investment in specific securities should be primarily in US Treasury Notes and Bills. Investments are pennitted in established cash reserve conuningled funds (i.e., money-market funds) to provide operating liquidity. The investment portfolio will be reviewed by the Investment Conm1ittee on a regular basis on a schedule to be determined by the Investment Committee. The Statements of Investment Objectives and Investment Guidelines will be reviewed and approved periodically by the Investment Committee and the Trustees. 5 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Financials Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book financials Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book financials. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50686 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/b62a959b7aab208d5289fd9da9a3b373.pdf 372a45b6e8e08534d5a19791986a3861 PDF Text Text Foundations for a New Economy THE MICHIGAN FUND FOR INNOVATION & ENTREPRENEURSHIP A Proposal & Business Plan Professor Stephen Forrest Vice President for Research University of Michigan Council ofMichigan Foundations May 22,2007 �Foundations for a New Economy: The Michigan Fund for Innovation & Entrepreneurship Executive Summary M ichigan's economy and business culture are rooted in traditional manufacturing businesses that fueled our country' s growth throughout the 201h century. Unfortunately, with the growth in power of electronics and the internet, the economic foundations of the US have shifted away from manufacturing (which now is responsible for less than 15% of the GDP) toward knowledge-based industries. Nevertheless, the state of Michigan has the potential to share in, and even be a driver of, the economic success of the United States in the 21st century. Other regions (such as the West Coast and the Northeast) have shown that the rapid movement toward knowledge-based economies depends primarily on leveraging the enonnous intellectual capital that exists in local, world-class universities and colleges. We are fortunate in the State of Michigan that a remarkably strong and competitive higher education infrastructure exists. Our public colleges and universities collectively draw more than $1.5 billion in R&D funding each year into the state, creating a nearly limitless and constantly renewable resource of creativity, innovation, human and physical infrastructure, and business acumen that stands ready to be leveraged to our state' s advantage. Today, the University of Michigan and its peer institutions across the state propose to the Foundation community a set of strategically targeted steps to establish a new future based on entrepreneurship that will grow alongside the traditional manufacturing economy that currently dominates and slows the economic prosperity ofthe upper Midwest. Provided a significant infusion of philanthropic and investment dollars, we propose to • • • • • Develop effective and long lasting partnerships between academia, industry, and government to leverage existing infrastructure, resources and expertise; Generate risk capital whose purpose is directed exclusively to founding new ventures within the State of Michigan; Make education and investment in entrepreneurship a priority; Develop an entrepreneurial environment in the state at the policy and investment levels; and a cultural and technical environment in our cities that can sustain new and diversified knowledge enterprises in Michigan; Create a culture of innovation in Michigan that supports a willingness to take risks, to continue learning and changing across a lifetime, and to fully develop and retain the talents and skills necessary for a knowledge economy. Our objective is to create the means to rebuild our communities based on prosperity derived from a diverse foundation of knowledge-based industries. To accomplish this goal, to literally transform the economic competitiveness of the rust-belt, we seek funding for a collaborative venture called the Michigan Fund for Innovation & Entrepreneurship. �Three strategic funds will emerge from this unique fund , built on $125 million from our state's leading Foundations. • • • A Gap Fund to be distributed and invested in two linked strategies managed by a consortium of research universities, and involving regional partnerships with the research universities, community colleges and local economic development groups. This fund will provide substantial resources to move innovative ideas in the laboratories and classrooms in our state institutions of higher learning and research into a phase that can attract substantial venture investment for new businesses to be established in Michigan. ($80 million to be reinvested) A Talent Retention Fund that establishes a context for researchers, practitioners and the business community to exchange ideas, improve and readily start businesses in the state. ($30 million to be regranted) An Entrepreneurial Education Fund directed at improving the level of understanding within the state's educational institutions about how to achieve commercial success from concept through the practice of entrepreneurship. ($15 million to be regranted) Each set of activities wi ll be enhanced by the local and regional matches that the participating research institutions will provide, and these activities will also draw s ignificantly from other private and public resources. Each will be organized through a collaborative structure that has local decision-making capabilities on a hub-and-spoke design. Given past experience with an existing coLlaborative that has engaged research universities, we can project leverage ofat least $330 million on the initial $80 miLlion Gap Fund investment, and regional matching and investment on both the Talent Retention and Entrepreneurial Education Funds that double those investments and expand their impact. Furthermore, we project that this venture will result in at least one hundred new start-up ventures in the state ofMichigan. In addition, we propose the establishment of a $100 million Co-investment Seed Fund that contributes both private and public endowment monies for investment in Michigan-based ventures that will fonn the foundation of the new economy. For the first of these funds, the M ichigan Fund for Innovation & Entrepreneurship, we propose a formal collaboration among the public research and higher education institutions that is modeled on the successful Michigan Universities Commercialization Initiative (MUCI), originally created through the auspices of the Michigan Economic Development Corporation approximately five years ago. Begun by three public universities, it has now grown to include ten university and research institution partners. 2 �The Michigan Fund board and regional partnerships and advisory groups, established as a distinct sponsored entity, will oversee investment strategies that are founded on a vision of supporting Michigan knowledge-based industrial potential, recruitment and retention of talent in the state, and creation of an environment that encourages risk-taking and deal-making. For the second, the Co-Investment Seed Fund, we stand ready to help build the consortium and advise on ways that it can most effectively interact with the Michigan Fund to provide even greater leverage, return on investment and opportunities for the economic revitalization of our regional economies. 3 �Introduction Michigan's economy and business culture are deeply rooted in traditional manufacturing businesses that fueled our country's growth throughout the 20111 century. Unfortunately, with the growth in power of electronics and the internet, the economic foundations of the United States have shifted away from manufacturing (which now is responsible for less than 15% of the gross domestic product) toward knowledge-based industries. This change has left the Michigan and Great Lakes regional economies weakened and uncompetitive on a global scale. Indeed, other regions have pulled ahead in the hard work ofleveraging the knowledge economy, building new capacities and creating new industries. In a "flat world" with its increasingly knowledge-driven economy, there are several critical steps that Michigan must take if the people of this state are to succeed in the transition of our economic base. Among these are a dedication to improving access to and readiness for college, encouragement of lifelong learning and developing resil ience, and investing in a broad, entrepreneurial (i .e., risk-based) high technology industrial sector. One clear advantage in effecting this transition is the superlative, internationally recognized system of higher education in which the state has invested since its admission into the Union. Indeed, states that have successfully leveraged the resources of higher education (most notably California, Massachusetts and Washington) have most readily adapted to the changes in the new global economic environment. Michigan will share in that success only if it undergoes a shift from manufacturing to a diversified, knowledge-based economy, finding its own path to leveraging the enormous and unique resources provided by the state's institutions of higher learning. Today, the University of Michigan and its peers and colleagues across the state propose to the Foundation community a set of targeted steps to establish the foundations of a new business ecology based on knowledge industries in the region: • Develop effective and long lasting partnerships between academia, industry and government to maximally leverage existing infrastructure, resources and expertise; • Generate risk capital whose purpose is directed exclusively to founding new ventures within the state of Michigan; • Make education and investment in entrepreneurship a priority; • Develop an entrepreneurial environment in the state at the policy and investment levels, and a cultural and technical environment in our cities, which can establish new and diversified knowledge enterprises in Michigan; • Create a new culture of innovation in Michigan that supports a willingness to take risks, to continue learning and changing across a lifetime, and to fully develop and retain the talents and skills necessary for a knowledge economy; and • Create means to rebuild our communities based on prosperity derived from new industries. 4 �Michigan's higher education community can forge the links between philanthropy and these goals. The state's universities already collaborate to invest in invention and commercialization, building on a research powerhouse that collectively conducts more than $1.5 billion (annually) in research activity. While there are many challenges to initiating successful university spin-off companies, the state's research universities have made important progress in the last five years, and have made the commitment to building a growing community of innovation and risk. Regionally, these universities and locally-based community colleges and economic development organizations will be able to expand their partnerships and focus energies on entrepreneurial endeavors and new business development. The pipel ine of opportunities created at Michigan 's public colleges and universities is already resulting in expanding networks within the venture capital community, in Michigan and throughout the nation. This broad-based initiative, w ith momentum, leadership, collaboration and outreach, will enable a new and ambitious strategy to take root at multiple levels and in multiple geographic sites throughout the state. Despite the federal and corporate research dollars on the one side, fueling basic research and early invention, and a credible venture capital community that is willing to invest in new business ideas on the other- there remain several key "gaps" that, nevertheless, must be filled if we are to accelerate the transformation onto a healthier economic footing. The University of Michigan and its partners propose today to address those gaps in existing structures and to build new partnerships to make those strategies sustainable, for the long haul. 5 �The Proposal Michigan's philanthropic community, research universities, and colleges are able today to join forces to invest strategically to achieve significant gains in shaping a new culture of innovation and risk. The University of Michigan, in partnership with other state-supported institutions of higher education, proposes the creation of a shared, renewable fund for innovation and entrepreneurship that will create a significant difference in the evolution of the regional economy. The Michigan Fund for Innovation & Entrepreneurship has three components which, taken together, will create an ecology of self-sustaining entrepreneurship and economic growth. The partnership underlying the Michigan Fund will redefine Michigan's approach to launching businesses and industries, resulting in the state taking a leadership role in transfonning the decaying rust-belt manufacturing base into a global economic force. To achieve these ambitious goals requires the rapid establishment of three investment and education strategies within the $ 125 million Michigan Fund: • A Gap Fund that provides substantial resources- within the consortium of research universities and through regional partnerships- to move innovative ideas in the laboratory into a phase that can attract substantial venture investment for new businesses to be established in Michigan. • A Talent Retention Fund that establishes a context for researchers and the business community to exchange ideas and readily start businesses in the state. • An Entrepreneurial Educational Fund directed at improving the level of experience and understanding within the state's educational institutions about how to achieve success with a commercializable concept through the practice of entrepreneurship. A companion strategy and fund focused on increasing the venture capital available for start- up companies would further leverage these angel and early-stage efforts. The universities recommend a privately-managed fund of at least $100 million to provide venture capital dedicated to companies with a strong promise for success. This Co-Investment Seed Fund would also be committed to securing capital to provide for companies that plan to succeed within the state ofMichigan . Taken together, the Co-Investment Seed Fund and the Michigan Fund w ill launch a new era for concentrated business development and start-up across the state of Michigan. We urge a launch of sufficient scale that creates significant visibility, impact, and momentum, and a profile that invites interest and commitment from the broadest cross-section of the Michigan industrial, capital and educational sectors. Hence, we suggest that the University of Michigan help to facilitate a partnership between the state's foundations, the other great state institutions of higher learning and research, and our powerful but dispersed fami ly of venture capital and creative leadership. 6 �The University of Michigan proposes today to propel the Michigan Fund from concept to full implementation --engaging foundations, universities, and venture capitalists in new and creative ways. The proposal for defining its goals, establishing its structures and funding its work, is described in the following document. To ensure that we are successful in mobilizing all of the educational and entrepreneurial resources related to our State universities and community colleges, we propose that a network of regional programs be established across Michigan. Each would be anchored at a State university, and would include all public institutions of higher learning in the region, as well as SmartZones and related entities. Experience has shown that attending to the specific regional resources and business opportunities will result in better economic development outcomes, and we believe that many local opportunities will emerge that, while not being driven by technology derived from research, may grow from other forms of knowledge, expertise, and entrepreneurial energy emanating from a range of institutions of higher education. We expect that four such regional centers would adequately serve the state, and that these would be guided by strong principles governing their oversight, clear criteria dictating how projects are selected and funded, and a central process of on-going assessment and evaluation to validate the economic development impacts of selected projects. The Co-Investment Seed Fund will require professional, external (arms-length) management to be fully successful, and will be designed in a way that allows for strategic targeting of venture investments toward well-managed funds with foci in the state of Michigan. This fund is proposed as a profit-making investment tool with the goal oflocating the most promising new ventures within Michigan. The University of Michigan has convened talent from both within and outside the state to contribute to our collaborative efforts with the foundations with the objective of defining the appropriate goals and structures of such investment vehicles. While this fund will not provide the only sources of investment opportunities, it would be expected that over time, many of the enterprises catalyzed by the Michigan Fund for Innovation & Entrepreneurship would be targets for the Seed Fund investments. As new opportunities grow (for venture quality start-ups as well as other business opportunities requiring other sources of capital to grow), the focus and purposes of these funds may adapt as required. The Michigan Fund for Innovation & Entrepreneurship Three interconnected efforts among the state's research universities will ensure the success of transfonning the Michigan economy. Each has the capacity to leverage significant other resources. Each will prove to be an important precursor and partner to the private, CoInvestment Seed Fund created by the leading investors in the state. • Gap Funds to ensure that innovations and startups emerge from early-stage university research and develop to a point where they are attractive to companies, seed funds and venture capital finns. Also creates regional funds to support entrepreneurial efforts emanating from community colleges and other regional bodies --- $80M o Several universities have already made investments in this arena, but to have significant impact we require a major increase in investment for making substantial changes in closing this critical funding gap and leveraging 7 �o o o • Talent Retention Funds to seed high-impact collaborations between Michigan research institutions and industry, as a means to draw out-of-state companies into Michigan, and to help existing local industry to transfom1 itself through greater access to knowledge, technology, and business innovation --- $30M o o • increased federal, state and private investments. The impact of this fund must noticeably transform the number of viable technologies moving into the marketplace in Michigan. We propose a gap fund of$50M to be dedicated to research-based university gap funding opportunities. The Michigan Fund would also create $30M in funding to be regranted through four regional partnerships (see page 15 and Appendix I) in order to engage community colleges, university outreach, community and economic development organizations, and local SmartZones in regional gap fund and start-up opportunities. Criteria and decisionmaking processes will be modeled on existing collaborations, and expanded to engage entrepreneurial opportunities emanating from public colleges statewide. In five years at this level of investment, we anticipate that 100 start-up companies will emerge, based on experience with the MEDC-funded MUCI (Michigan Universities Commercialization Initiative, see Appendix II). Universities and their research partners could create significant impact across the state with annual funding of approximately $3M for each of the next five years. Regional regranting opportunities could be leveraged with an additional $3M over each ofthe next five years, engaging local colleges and universities in regional entrepreneurial strategies. Entrepreneurial Educational Funds for making the deep resources ofthe universities more accessible to start-up talent, and for training savvy entrepreneurs in all disciplines in elements of business development. This fund is the cornerstone of our vision of creating an entrepreneurial culture in the state of Michigan--- $15M o U-M and partner universities and colleges will raise matching funds to make $3M for each of the next five years stretch into high-impact programs invested in creating ' critical mass' of entrepreneurial energy. Regional partnerships could oversee this granting process, engaging any of the partners in the Michigan Fund in outreach and education opportunities. These approaches frame a re-tooled service mission for universities and their technology transfer operations, and for colleges and their outreach programs. They would invest in and build upon our commitment to the creation of campuses that integrate entrepreneurial activity at their core, and in our interactions with the surrounding communities. Campuses would be energized by the curriculum changes, the outreach efforts, and the engagement of a wider spectrum of potential industry partners. The statewide collaborative effort will be launched to create a sense of scale and urgency that naturally generates the momentum to move Michigan on a determined path to economic growth. 8 �Together, these programs can drive business activities that build capacity, help students and faculty pursue their entrepreneurial interests, and grow innovation that stays in the state of Michigan. This is ultimately directed toward creating a nucleus of innovation that revitalizes and diversifies the aging manufacturing economies of the rust belt region. The Opportunity In Michigan today, we have a unique opportunity to reshape our economy to better address the evolving needs of our society. Rarely in our state has there been a better time to think in these tenns: the publ ic universities, state government, industry and the foundation community all recognize the urgency and the necessity to create fundamental changes in our economic structures. This change, being led by Michigan, has the potential to transfonn the entire industrial Midwest region, the manufacturing engine of economic prosperity and growth in 201h century America. If the state's great higher education community acts quickly, strategically and as a team, there is every reason to believe that renewed leadership in the 21 st Century will emerge from a reshaped Michigan economy that is attuned to, and willing to invest in, a new knowledgebased design for growth and investment. Led by the major research institutions of the state, engaging community and local college networks, and guided by our foundation partners, this important and large-scale initiative is the seed from which to grow Michigan's transformation. 9 �The Business Plan The Michigan Fund will primarily be directed toward changing the economy toward higher risk, but also higher payoff technology-based start up companies. There are three major components of the Michigan Fund for Innovation--Gap Funds, Talent Retention Funds, and Entrepreneurial Education Funds--each requiring somewhat different oversight and balance between central and local management. The Michigan Fund, therefore, consists of all elements of the program except the Co-Investment Seed Fund. Combined, these funds will be founded with $125 million in philanthropic investment, all targeted at achieving a critical mass of early stage investment and a support system for business creation. Each will be flexible and sufficiently transparent to allow for local control, strategy setting, and leveraging, to maximize the potential success around a particular research university. This is particularly important given that successful establishment of new companies largely depends on the local availabil ity of supporting infrastructure and talent. Hence, it is important to locate industries close to the appropriate research institution that can supply the technical infrastructure, but the choice of opportunity must also draw on managers and supporting industries that exist in a "critical mass" near the new venture. For all of these activities, there is added value by working closely with regional SmartZones, local agencies such as Ann Arbor SPARK, Southwest Michigan Innovation Center, MichBio, Southwest Michigan First, West Michigan Science and Technology Initiative, Detroit Renaissance, and Automation Alley, as just a few examples. The Gap Funds Establishing a robust Gap Fund is the single most important element of our plan. Other regions that have successfully catapulted their economies into the knowledge revolution have heavily leveraged their base of research and invention. To understand the investment "gap" that exists in Michigan, the graphic below maps the progress that a new concept makes in its path from a lab bench concept to a successful and robust industry. The gap that requires substantial attention exists between the steps of Basic Research and Seed funding. The Seed investment emerges to finance a new company once the translational research has been largely completed. Filling this gap provides strong incentives for university researchers to move their basic concepts into a more practical realization, and creates significant value that will lead to investments that provide incentives to the company to set up shop in Michigan . A significant portion - $50 million of the $80 million proposed- in the Gap Fund will support inventions emerging from technology and discovery-based research, and the remaining $30 million will be invested regionally, based on other kinds of knowledge, expertise, and "know how" emerging from colleges and universities. The Research-based Gap Fund activities will be managed from a central organization that includes principals from the participating research institutions, the contributing foundations, and the venture and business communities. There must be sufficient technical depth and business acumen present within the organization to make choices among many incumbent opportunities that will optimize chances for success. Specifically, the Research-based Gap Fund will seek to 10 �~ Optimize the movement of viable technologies on a path to successful commercialization; ~ Select the best suited for investments from the technology opportunities proposed; ~ Assist in finding business partners and provide supporting resources to help university staff establish an economically viable commercialization route for the target opportunities; ~ Determine the level of funding necessary to result in convincing demonstrations of the technology for its commercial readiness; ~ Determine the sustainability of a conunercial venture in Michigan given its compatibility with existing or projected demands on local infrastructure (e.g., coherence with the resources in SmartZones, with the manufacturing base, etc.). Venture Capital Idea/Concept Development Research ~The Idea/Concept Marketing Company Expansion critical "Gap"=> The Knowledge-based Gap Fund activities will be managed by each of the "spoke" partnership organizations, as described in the next section on Fund Operations, to reflect the need for savvy, local business knowledge, and a capacity to assess the fit between emerging business ideas and local opportunities. II �Talent Retention Fund This fund is established to more efficiently promote engagement between the regional economies, public universities and community colleges. This is one of two keys (the other being the Entrepreneurial Education Fund) needed to change the culture for innovation in Michigan. It will require work on several fronts to move toward a know ledge-based economy infused with a high amount of risk capital. The principle purposes of the Talent Retention Fund will be to • Support student and faculty engagement in entrepreneurial ventures, to retain talent in Michigan; • Catalyze collaborations and partnerships between industry and research institutions to create greater opportunities for expansion and retention of talent; and • Provide common meeting grounds between the business and academic communities. This fund seeks to facilitate mutually beneficial connections between the needs of Michigan industry and the state's educational assets, beyond the licensor/licensee relationship, and to promote innovative business opportunities based on the research and expertise of faculty and staff at Michigan colleges and universities. The needs of industry and the regional economy for technological competitiveness are diverse. Our state colleges and universities possess abundant intellectual (expertise, engineers, scientists and students, patents, etc.) and physical (e.g., labs and equipment) assets that can be cooperatively employed to assist industry in meeting their needs while also promoting new ventures. The Talent Retention Fund goal is to substantially improve the ease of use and deepen the effectiveness of such linkages by encouraging collaborative projects with a competitive structure modeled after the MUCI Challenge Fund (Appendix II). This fund will provide an incentive to collaborate with colleges and universities on projects that have the potential for intellectual property development, technology transfer, licensing opportunities, business start-up, and general improvement of industry competitiveness. Examples of such projects include a company using specialized university equipment to test a product, a faculty/student team working on solving a particular industry problem, or an interdisciplinary university team helping industry to reposition a product in a different market. The projects will function as case studies to develop further effective models for collaboration. Entrepreneurial Education Funds This final element is also directed toward making a fundamental change in the Michigan business and educational cultures. Its focus is to generate a sustainable generation of entrepreneurs who will develop roots in the state. This is primarily an educational activity, and hence it must be shaped at each participating institution to meet the particular needs of the 12 �institutional culture, the region and the student body that it serves. Its success, therefore, depends on tight integration with the curricular and outreach activity at each university or cluster of universities, should these be collaborative inter-institutional efforts. We hope to build in the efforts of the Michigan Entrepreneurial Education Network (MEEN) which has been active statewide in such efforts with support from MEDC and the Herbert H. and Grace A. Dow Foundation. In addition, the Zell-Lurie Institute at the University of Michigan has become a national model for participatory education in entrepreneurism that crosses the boundaries between the Ross School of Business and the College of Engineering, and the Schools of Medicine, Information and others across our campuses. The fund will • Support innovative internships with entrepreneurial businesses and fund managers; • Develop integrated education of the disciplines and business; and • Support programs to promote faculty engagement in community-oriented entrepreneurial activity. Fund Operations H ub and Spoke Organization The organization that will effectively deploy these critical investments across the state must be capable of maintaining a focus on the core objectives of the program while promoting an agile and rapid decision-making process. Further, it must take full advantage of regional resources, local commitment to the program, and business opportunities created by existing infrastructure. The organizational model proposed is therefore based on a central hub, with a distributed regional capacity. This organization must be established and periodically monitored for its effectiveness in meeting the overall goals of improving the economic competitiveness of the state of Michigan. Such a model should provide oversight and establish clear standards for success, while allowing for optimal participation by those most familiar with the specific strengths of each university and regional economy. It must also serve to facilitate the engagement and financial commitment of the regional and local Foundations. 13 �Regional Partners h ips (i.e. Community and Tribal Colleges, Public Universities, and Economic Development Entities) ( \ /50~ [~U~) \ R~sae;~ch~~~ns9ed J ~u:/ $30M Knowledge-based Gap Fund With an anticipated launch by U-M in Summer 2007, the Michigan Fund for Innovation & Entrepreneurship will have an organizational structure characterized by transparency, efficiency, and accountability. A Governing Board composed of key leaders from both higher education and Foundations will provide the overall governance, has the discretion to approve a Fund Management Committee, and will approve criteria for research-based investments as well as regional entrepreneurial grants and programs. In addition to a Fund Management Committee, described below, there would be four regional "spokes", each a partnership with the capacity to make awards in accordance with guidelines established by the Board. (A more complete description of the organization is provided in Appendix I.) 14 �Participating Organizations While the criteria for participation and will be detailed in agreed-upon by-laws, the following regionally distributed organizations are expected to be included in the initial activities outlined in this plan: • Public university • Community College *~ •• Central Michigan University Eastern Michigan University Ferris State University Grand Valley State University Lake Superior State University Michigan Community Colleges Association Michigan State University Michigan Technological University Northern Michigan University Oakland University Saginaw Valley State University University of Michigan- Ann Arbor University of Michigan- Dearborn University of Michigan- Flint Van Andel Research Institute Wayne State University Western Michigan University In addition, Michigan's SmartZones and other economic development organizations will participate in these activities, as well as numerous business and finance organizations may partner or contribute on individual projects. Some individual projects may include collaborations with the network of Community Colleges in the state as well as private institutions of higher education and independent research organizations. 15 �Managing Investment and Grants The Fund Management Committee will be designed in a consortia! arrangement modeled after MEDC's MUCI Challenge Fund Committee (see Appendix II). It will establish the basic criteria for funding awards in all Fund categories, formulating the specific criteria, application and review processes, and defining evaluation standards for perfonnance, both centrally and in each of the regional "spoke" partners. In addition, this advisory group will oversee the Research-based Gap Fund. To illustrate how the Funds would be managed, we provide an in-depth example description of the Research-based Gap Fund. Similar guidelines w ill be developed for the other funds once the Fund Management Committee assumes its responsibilities. Making Awards: Research-based Gap Funds To address the need for efficiency and agility, the fund will be divided into several types of awards, some of which may require meeting "eligibility'' standards and be managed by the university requesting the award, while others w ill require more extensive competitive review by an expert panel. Local universities and regional collaborations will create boards from within their communities - thus boards best suited to understand the needs of a particular participating organization will be set up to manage the Entrepreneurial Education and Talent Retention Funds, and will make recommendations to the Governing Board and Fund Management Committee regarding local opportunities and requirements. Fast Track Modular Awards The shared experiences with MUCI have offered an understanding of the type of requests that are likely to yield the greatest prospects for success within Michigan. A "menu" of opportunities will be established as shown by example in Table 1, with an application form that requires rapid assessment of eligibility of a particular concept. Awards can be rapidly made when items from the menu are proposed for a specific technology, as long as basic eligibility is met and the requested amount is within the acceptable range. All such awards will have reporting and accounting requirements and, as described later in this plan, an evaluation process will be employed to ensure that appropriate controls are in place to make best use of funds. Fast track awards are designed for optimal flexibility and speed: • • • Part of work may already be complete before proposal submission; Institutional or industry matching funds are required; Award cycles for these categories are ongoing and continuous, rather than organized by quarter or other structured calendar. 16 �Table 1: Menu of Commercialization Fast Track Modular Awards Expected Maximum Commercialization Step * Business plan development $10,000 Feasibility Studies $30,000 IP enhancement/freedom to practice $10,000 Market Research $20,000 Commercial Assessment $10,000 Proof of Concept $10,000 Prototype Development $75,000 .. * Defimttons 111 Appendix III Competitive Awards with Full Review Proposals that exceed the Fast Track Modular amounts require full review by the Gap Fund Management Committee. Such reviews will be conducted monthly, and application particulars regarding the format ofthe proposal, required supporting documents, and criteria for award will be available to proposers on-line. Decisions will be made in a time frame that will not impede rapid commercialization, but will also require planning and engagement by university staff in preparing applications and working with the staff of the program. Matching and Payback of Funds, Enabling Later Venture Capital While gap investments are high risk and therefore difficult to secure, there is also a limited potential for high financial returns should the technology develop and find a commercialization vehicle. To ensure that institutions are deploying their own "risk" capital to maximum benefit, we expect a match ofat least 50% for all Gap Fund awards. Since nonnal indirect costs associated with such awards will be required, a credit of 20% of the award amount will be issued toward this match. The balance needs to be an identifiable allocation of dedicated staff, facilities, or cash. The principles of payback for gap investments by the program are 1) to strive for some degree of support from revenue generated by successful investments 2) without burdening the potential "deal" with complicated claims that might deter future investment. • • For most awards where less than $100,000 is allocated for a particular technology, it is expected that universities will pay back three times the amount of the award from the annual revenues associated with the successful technology. The expectation is that at least 20% of the annual revenue associated with the technology will eventually be returned to the fund by this mechanism. For investments over $ 100,000, there will be an expectation of payback greater than three times the award amount, but related to the success of the technology. Thus, at above $100,000 the formula will include, in addition to the regular three times payback, an escalator of 5% of revenues above that amount for the duration of revenue generation for the institution. 17 �The payback will provide for a source of funds to sustain the activity into the long term. An estimation of the return from the gap funding is shown in the graph below. Gap Funding 16 14 12 10 I 8 ' \ ......... 1/ 4 0 r I "" 6 2 I Matching Funds @ 50% - Payback @ x3 \ "'-.\ P'_ 2008 \ Foundation Gap Funds - " \ // 2007 - "'\. 2009 2010 2011 2012 2013 2014 2015 Years Making Awards: Knowledge-based Gap Funds, Talent Retention, and Entrepreneurial Education Not all thriving enterprises will arise from licensable technology, the purpose of the Knowledge-based Gap Fund, to be administered according to centrally detem1ined standards in each "spoke" organization, w ill be to stimulate the growth of existing businesses and the formation of new ones that, while based on knowledge, expertise or "know how," are not governed by the same framework as technology-driven licensing. There will be many elements in common with the criteria and categories of the Researchbased Gap Fund, though these elements will be adapted to the differing requirements of nontechnology licensing opportunities. For example, Business Plan Development and Market Research would be highly used categories in awards from this Fund. Likewise, the distribution of awards for the Talent Retention and Entrepreneurial Education Funds will follow centrally developed guidelines that w ill require the clear achievement of milestones. By using the regional partnerships to make such awards, we hope to foster interinstitutional collaborations around high priority local needs and the pooling of complementary resources across communities. 18 �Financing and Leverage The activities of the Michigan Fund will take time to organize and ramp up over the life of the project. Table 2 provides the plan for investment that meets the combined goals of rapidly making a significant difference to the entrepreneurial climate in Michigan, while at the same time resulting in responsible custodianship of the funds provided . Table 2: Phased Expenditures for Foundations Partnership Funds (in $MM) Gap Retention Education Administration TOTAL F2008 2010 2011 2012 TOTAL 2009 $5.00 $13.00 $23.00 $23.00 $15.00 $79.00 2.00 5.00 8.00 8.00 6.00 29.00 2.00 3.50 3.50 3.20 2.50 14.70 0.45 0.50 0.50 0.50 0.35 2.30 $22.00 $34.70 $22.85 $125.00 $9.45 $36.00 While it is expected that the state's leading Foundations wi ll collaborate in the formation of a central statewide fund, we recognize that some Foundations will have more capacity for investing in projects specific to one of the "regional spokes" associated with their mission (e.g., Community Foundations). This strategy embraces both, and creates leadership and participation possibilities across a broad geographic and financial range. As the partners within the higher education community develop their own regional strategies, it is likely that focused foundation and corporate partners will also want to participate. For example, U-M's southeast Michigan initiatives may be suitable for Community Foundation investment. Likewise, Grand Valley State University and the Van Andel Institute strategies might draw local funding from the Grand Rapids Community Foundation or philanthropic and business leaders there. We would expect that such fund ing would be available in the major metropolitan areas of the state, provided there exists a strong central core with which to provide uniformity of vision and momentum. In addition, the participant matching component of the Gap Fund provides additional resources. We anticipate significant leverage in both private and public funds within the pool of startup companies, both ofwhich are summarized in Table 3 below. We can further predict that the $50 million direct philanthropic investment in Research-based Gap Funding by leading Michigan Foundations will leverage at least $330 million in additional investment (Table 4, below). 19 �Table 3: Research-based Gap Fund leverage opportunities (in $MM) Fiscal Year 2008 2009 2010 2011 2012 Total Leverage Research Based Gap Funds 5.00 13.00 13.00 13.00 5.00 Matching Funds @ 50% 2.50 6.50 6.50 6.50 2.50 $24.50M Leveraged Funds @ x 6.25* 31.25 81.25 81.25 81.25 31.25 $306.25M * L everaged F unds consist of income attracted from other sources as a result of an initia l grant o r investment. Work done with early gap funding, for instance, should lead to larger awards from state and federal sources, and/or from angel or venture capital investors. The formula of x6.25 comes from past experience at the U -M for income leveraged against university investment. We believe that there will be comparable le verage for other, regional components of the Michigan Fund. Table 4: Leveraged Funds Projected L e veraged Funds Proje cted 350 ~ 300 250 200 1 50 1 00 / __..,.,.,/ 50 / / / - Gap Fu n ds - Leveraged Funds 0 2 007 2008 2009 2 0 10 20 11 2012 2013 2014 2 015 Y e ars Start-Up Structure and Timing It is imperative that the funds be made operational as quickly as possible to ensure the largest possible impact early on during the life of the program. The proposed start-up working structure will be designed such that it will grow into the final configuration within six months ofprogram commencement. To manage this phase, the University of Michigan, through the auspices of its Office of the V ice President fo r Research, will be the start-up hosting organization. U-M will assign an interim Director and staff to manage the fu nds, and will begin implementing the legal structure of the organization through the assistance with U-M's Office of the General 20 �Counsel. Temporary space w ill be assigned for the Michigan Fund. During this interim period, permanent facilities w ill be identified in Ann Arbor to host the central hub activities of the organization. A primary function of the interim organization will be to engage other partner universities and colleges, initially starting with Wayne State and M ichigan State Universities, and to organize regional spokes from the various regional universities and colleges, the participating ing Foundations, other regional collaborators and industry. The investments and energies contributed by the educational institutions are significant: the University of Michigan alone invests more than $2 million per year in technology transfer; some $1 00 million in research on campus; and draws almost $800 million in research funding into the University and the state. The research enterprise across our public institutions is near ly $1.5 billion each year. What we pr opose her e is to lever age that enor mous r esour ce into business development and the rebuilding of our economic b ase. We also propose to engage the community outreach and regional collaborations that originate at the state's community colleges and economic development centers, and to create circles of leverage statewide. Measuring Success A program with the intention to "cha nge the playing field" must have metrics against which success is measured in real time. If the performance falls short of that performance, then changes must be implem ented as soon as practical. For this reason, we propose a set of mt::Lrics against which prugn:ss will bt: mt:asurt:d un a st:mi-annual scht:dult:, with tht: rt:sulls brought before the Governing Board as well as the boards of the individual program elements to determine future courses of action. Among the metrics to be used are the following: • Number of new partnerships • Number of ' quality' new spin-off companies • Number of placements of students in key roles in emerging industries • Assessing our cultural value: o Are Michigan universities becoming known as "partners of choice" for industry and venture? o Is our state and region known as a center for innovation? o Is our profile distinct? • Amount and adequacy of external resources attracted to lead to sustainable statewide entrepreneurship As noted above, based on recent experience with the MEDC-funded MUCI (Appendix II), in 5 years at this level of investment, it is expected that as many as 100 start-up companies will emerge from the research-based gap funding process alone. But taken together with the Entrepreneurial Education and Talent Retention efforts, a tangible change in the entrepre neurial climate in Michigan will emerge, with the result of making this state an identifiable " place to make deals" and to start new knowledge-based businesses. 21 �Conclusion In Michigan, we have a unique opportunity to reshape our economy to better address the modem needs of our society. Rarely in our state has there been a better time to think in these terms: the public universities, state government, business and the foundation community all recognize the urgency and the necessity to create fundamental changes in our economic structures. This change, being led by the state of Michigan, has the potential to transfonn the entire industrial Midwest region, the historical engine of economic prosperity and growth in 201h century America. If we act quickly, strategically and as a team, there is every reason to believe that continued leadership in the 21 st century w ill emerge from a reshaped Michigan economy. We offer ourselves and our peers as partners to the Foundations of the state, willing to collaborate and deliver results that emanate from our modest successes accomplished thus far. What we propose to the foundations is significant in scale and deeply important to our shared future. This initiative, led by the major research institutions of the state, engaging all of the public higher education community, and guided by our Foundation partners, is the seed from which to grow this transfom1ation. 22 �Appendix 1: The Organization The overall organization of the Michigan Fund for Innovation & Entrepreneurship is shown in the diagram below. The Governing Board, comprised of principles appointed from the research institutions, Foundations, and industry, will provide strategic leadership for all Fund activities. The Board w ill ensure that overlapping interests from entrepreneurs across the state are well represented by establishing mechanisms for distribution of resources from the various funds. The Governing Board will have a direct management role in the Michigan Fund for Innovation, consisting of the Gap, Entrepreneurial Education, and Talent Retention Funds, and will have an advisory role w ith the foundation and broader investment communities through its connection with the Co-Investment Seed Fund. Each regional partnership will have an operating committee and a staffl iaison to the Fund Management Committee. Mi.chlgan F'und Governing Board 4·· ... Co- Investment Seed Fund Advisory Board Management Committee· Researctt,.based Gap Fundi Regional Partnersli'llps Southeast Michigan Partnership Regional Enueprenaurtal Gap Fundi Regional Talent Retentlc11 & Business Collaboration Regional Entrepreneunal Education Structure A new entity will be developed and hosted by the University ofMichigan that allows for the management of diverse sources of charitable contributions and other resources, and their allocation to other non-profit organizations. By-laws and articles for incorporation will be developed jointly by U-M and other state universities, the Council of Michigan Foundations 23 �and a Board of Directors selected from senior Foundation and University leadership (with additional members from the industrial and financial sectors selected by mutual consent). The Board of Directors w ill also have oversight over and appointment authority for members of the "regional spokes" and the Fund Management Committee. Staffing Requirements for the University Innovation Fund While many roles related to the "regional spokes" will be filled by institutional officers and faculty who are working on projects or volunteering their effort in support of the program, the success of the Gap Funds will require dedicated staff hired to administer and promote its activities, as well as to serve as advisors and assistants in the fonnulation of proposals and business plans, the attraction of business interest in a particular technology, the provision or identification of expert resources, etc. It is anticipated that initially at least three staff persons w ill be required to manage the Research-based Gap Fund: a Fund Director, a Business Resource Analyst, and a Business Manager. The number and type of staffwi ll increase as Fund activity grows. In addition, each ' regional spoke" will require at least one dedicated staff person, who will also serve as liaison to the central Fund Management Committee. 24 �Appendix II: MUCI (Michigan Universities Commercialization Initiative) MUCI is the model after which we will model the organization of the proposed Innovation Fund. Here we describe the MUCI organization and show that its successful implementation has provided a means for rapid implementation and governance of a truly statewide alliance. MUCI began in 200 l as a collaboration between Michigan State University, the University of Michigan and Wayne State University, to enhance technology transfer activities by working closely w ith venture capital and industry representatives. By creating this joint platform, each group was able to learn more about needs and concerns of the other members. The MUCJ Challenge Fund was established as a competitive, peer-reviewed award program that provides essential gap funding for early-stage technologies with potential for commercial ization. An Incubator Liaison helped member institutions procure incubation space and facilities, which were not readily available prior to the SmartZone system's development. MUCI also disseminated technology transfer educational materials and shared best practices through newsletters, a website, publications, and joint meetings. Since those early years, MUCI membership has grown to include ten Michigan research institutions. The early focus on Life Sciences has expanded to include Advanced Automotive & Engineering, Alternative Energy and Homeland Security, through a new $4,750,000 grant from the 21 st Century Jobs Fund. To date, the Challenge Fund has distributed $3,75 1,288 in awards lo ht:lp commen;ializt:: lt::chnologies. Many supporlt::u technologies have been licensc:J to existing companies or have become the nucleii of new start-up companies. Current member institutions include: Central Michigan University Eastern Michigan University Grand Valley State University Michigan State University* Michigan Technological University Oakland University University of Michigan* Van Andel Research Institute Wayne State University* Western Michigan University * Original partner 25 �Examples of MUCI Supported Start-Ups Originating institution Accuri Instruments I Accuri Cytometers Inc. University of Michigan Advangen (closed) University of Michigan Biophotonic Solutions, Inc. Michigan State University Biopolymer Innovations, LLC Michigan State University DermaCo (closed; technology relicensed) U niversity of Michigan Genistry Michigan State University GliaGen Wayne State University GlyT ag, LLC Wayne State University GMP Immunotherapeutics (closed) University of Michigan Incept Biosystems University of Michigan Lycera Corp. University of Michigan Meclspoke U niversity Neural Intervention Technologies University of Michigan NeuroNexus University of Michigan NeuRxus Wayne State U niversity Omni Sciences University of Michigan Originus University of Michigan Rapid BioSense Michigan State University RiboNovix Wayne State University Sensigen University of Michigan Sen Sound Wayne State University Tissue Regeneration Systems University of Michigan Velcura University of Michigan Xoran University of Michigan 26 ofMich i g~n �Appendix Ill: Definitions Business Plan Development: a platfonn for organizing ideas and actions, and analyzing essential elements for developing a business: description of product/service and intellectual property protection; market analysis, customers and competition; management structure; finances. A business plan also functions as a way of communicating with potential investors. Feasibility Studies (for production scale-up): addresses questions of costs, times, other resources needed to build beyond prototype or small-scale production of a product for testing purposes. IP Enhancement I Freedom to Practice: beyond the initial filing of patents, IP strengths and weaknesses should be assessed, including any need to license complementary or riskmitigating IP rights in order to strengthen the position of the proposed technology. Market Research: systematic gathering and analyzing of date about the potential customers and competitors, and the market size and possible target markets or niches, for the proposed technology. Commercial Assessment: analysis of the technology to detennine its competitive advantage in wmparison to ~xis ting solutions Lo Lh~ larg~t~J probl~m. Proof of Concept: the demonstration that a product or technology is a viable solution to some problem or need. Prototype Development: conversion of a concept into a working model used to demonstrate the product/technology and to elicit feedback for further refinements. Leveraged Funds: income attracted from other sources as a result of an initial grant or investment. Work done with early gap funding, for instance, may lead to larger awards from state and federal sources, and/or from angel or venture capital investors. Payback Scheme: Financially successful projects (e.g., those that have attained licensing contracts) will assist in maintaining the Gap Fund by contributing up to three (3) times the grant amount from revenues generated. These reimbursements to the Gap Fund will be paid by the recipient institution(s) out of net royalty income, at a rate of20% of the annual royalty per year until payment reaches 3 times the grant amount. 27 �Appendix IV: Anticipating Organizational Challenges As this collaborative project evolves, it must avoid pitfalls that are common to such ambitious efforts. We are mindful of past and even current ventures that have failed to materialize and achieve meaningful success for the State. Some of the key factors and pitfalls we will be monitoring include: 1. In an effort to address inter-organizational concerns about "control" a new organization is created that is "outside" the true community of interest for this project. In this case, the risk is creating a cumbersome entity that would have neither the nimbleness nor the connection to the core technological and entrepreneurial drive at the State's major research universities. Thus, while equity and accountability are valued, to subvert the urgency and focus of this effort to appease those stakeholders who seek to fill general resource needs or enhance their perceived reputations could cause the effort to fail or severely underperfonn . Balance and flexibility must be achieved. 2. The tension between fiscal accountability and urgency of action in an entrepreneurial environment will require attention to ensure that our ability to act and take risks, the cornerstone of entrepreneurship, is not crushed by excessive reporting requirements, complicated payback schemes, or a resulting cl imate that promotes fear of failure. On the other hand, the integrity of the program is found ed on deploying resources based on sound judgments about which risks are worthwhile. Obviously, this is where the culture of our public and charitable institutions and the entrepreneurial business world may clash. Great attention must be paid to the f unctional capability of the organization proposed. 3. The scale of the project, and the effort to cover a broad institutional and geographic range, brings with it the need for complete openness and communication. The potential for "competition and gaming" within such a system must be guarded against and addressed directly whenever and wherever it is experienced or suspected. This will require complete transparency and strong and independent leadership, leadership that is totally committed to the economic development and transformation goals of the project. 28 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Foundations-for-a-New-Economy Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book Foundations for a New Economy Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book Foundations for a New Economy. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50687 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/5357a2cc5aa872ac79817ed94b23d58b.pdf 97c8599bf216df2b25c0b55863417bf8 PDF Text Text CMF Council of Michigan Fou ncfations Serving grantmakers.Advancing giving. Date: May II, 2007 To: Diana R. Sieger, Chair and Members of the Board ofTrustees From: Rob Collier, President & Jeri Fischer, Membership & Special Projects Director Re: Membership Report The following resolution is presented for action. RESOLVED that the following grantmaker be approved for membership: Grand T r averse Regional Community Foundation, Traverse City Jeanne Snow, executive director • Community foundation that re-joined with assets of$27 million and grantmaking totaling $2.7 million as of 12/31 /06. *Activity Summary for period April I, 2007 through May II, 2007 Memberships at 4/ 1/07 405 New members I Dropped Membership at 5/11/07 406 Renewals # 174 Renewal% 43% Revenue (renewals & new) $395,450 Additional # 10 Additional $ $ 5,600 * All (independent, family, corporate, public and out-of-state) membership renewals have been sent; the earliest date this has been accomplished in the history of CMF! Last year at this time, only fami ly foundation renewals had been sent with renewals at 15% and $ 132,000. Summary of current membership The following chart summarizes the current membership composition of 406: Private: 233 Family Foundations Independent Foundations 174 59 Community: 95 Foundations Affiliates Donor-Advised Funds 56 33 6 Foundations Giving Programs 25 27 Corporate: 52 Public: Foundations Donor-Advised Funds Out-of-State Associate: Private Foundations Community Foundation Totals: 19 18 I 7 6 I 406 406 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Membership-Report Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book membership report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book membership report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50688 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/0a5f7f0ff48df9644ce689dc7023d502.pdf d1c46629e01a0cca24ea3718f384d4c1 PDF Text Text Council of Michi an CMF Foun~ations Serving grantmakers. Advancing giving. May 14,2007 Memo to: Diana Sieger, Chairperson and Members of the Board ofTrustees From: Rob Collier, President Re: President's Report Staff Highlights On Friday, May 18, Malcolm Campbell began his position as Mawby Summer Intern. Malcolm is an alumnus of the Capital Region Community Foundation YAC and the MCFYP Committee. Malcolm brings a wealth of experience to the Youth Grantmakers Summer Leadership Conference, as this will be his sixth Conference! As noted in the Public Policy Report, Monday May 21 is the first day for Jaclyn Miel-Uken our 2007-08 Public Policy Fellow. Education and Networking Events March 13 - Detroit Area Grantmakers (DAG) - Higher Education: Strategies for Increasing Enrollment Glenda Price, President Emeritus of Marygrove College discussed jobs for the 21st century and the current demand for a postsecondary education. Dr. Price highlighted information from the Cherry Commission on Higher Education and Economic Growth created by Governor Granholm and presented strategies to double the number of new college graduates within the state over the next ten years. There were over fifty attendees. March 13 & April 24- 990 PF Calls CMF, in conjunction with the Forum of Regional Associations ofGrantmakers, hosted conference calls on the IRS Fom1 990 PF highlighting key areas that may cause confusion or result in inaccurate information on the part of private foundation tax preparers. March 20, April 19 and May 23- CMF/COF/ Forum of Regional Associations ofGrantmakers (Forum) - Essential Skills & Strategies for New Grantmakers (ESS) - Lansing Two of the three sessions of ESS were held successfully. This national rollout replacement program for COF's Grantmaking Basics, will wrap up on May 23. The program was developed through a partnership between COF, the Forum, CMF and Grantmakers of Western Pennsylvania. CMF is p leased that Sue Bennett from Philanthropy Northwest will be visiting the May 23 session. • Registrations Final registration numbers were 34 members and two non-member full registrations; ten member and three non-member partial daily registrations and included grantmakers from Michigan, Connecticut and Ohio. Of the registrants, 38% were community foundations; 36% were family foundations; 17% were independent foundations; and 2% were public foundations. • Evaluations Evaluations from the March 20 and April 19 sessions indicate that 97% and 77% of participants were satisfied or very satisfied with the training respectively. �President's Report May 2007 Page 2 • Faculty We are grateful to the ten member and partner faculty: Karen Aldridge-Eason, foundation liaison, Office of the Governor; Tonya Allen, program director, The Ski llman Foundation; Bea Boccalandro, president, VeraWorks, Inc. ; C. David Campbell, president, McGregor Fund; Tom Cook, executive director and trustee, Cook Family Foundation; Kathryn Huschke, chief program officer, Fremont Area Community Foundation; John Martin, professor of law, Ohio Northern University; Joel Orosz, director, The Grantmaking School, The Johnson Center, Grand Valley State University; Marcia Rapp, vice president of programs, Grand Rapids Community Foundation; Marsha Smith, executive director, Rotary Charities of Traverse City. March 22 - Southeast Michigan Program Officers' Lunch Sixteen program officers attended the March Program Officers' luncheon hosted by the Jewish Fund. The theme was diversity. Rabbi Judah Isaacs spoke about Jewish festival celebrations and traditions, and the group discussed how to improve understanding and relationships amongst the various racial, ethnic and religious groups in metro Detroit. April 10 - DAG - Community Development in Detroit: The Eastside Perspective Forty Detroit grantmakers joined LISC staff for a DAG bus tour of major housing and economic development projects on the eastside of Detroit. Participants visited Creekside Community Development, Jefferson East Business Association and U SNAP BAC. April 24-26 - Small Town and Rural Development Conference- Crystal Mountain Donnell Mersereau, Director of Community Foundations and Executive Director, MCFV joined more than 150 people including CMF members Barry County Community Foundation, Branch County Community Foundation and Manistee County Community Foundation involved as speakers. Topics included: Rural Michigan in the Global Economy; Enterprise Facilitation and Home Town Competitiveness; Generation E- Young Entrepreneurs + Economic Development = Economic Growth; Economic Gardening; Creating Entrepreneurial Communities; and Learning to Give Trustee Tom Sander, Executive Director of the Saguaro Seminar at Harvard speaking on Social Capital. May 12 - YAC Public Policy Training- Ann Arbor CMF recently partnered with the University of Michigan School of Social Work to provide a specialized training on public policy for Youth Grantmakers. Y AC members from the Ann Arbor Area Community Foundation, Southfield Community Foundation, Detroit Youth Foundation, and the Michigan Women's Foundation participated in this one-day training held on Saturday, May 12 in Ann Arbor. Upcoming Events May 17 - DAG - Implications of the Detroit RiverWalk and Riverfront Redevelopment for the City of Detroit Over sixty grantmakers registered for an outdoor picnic on the Rivard Plaza, part of Detroit's East Riverfront which has been transfonned with over $250 million of investment for promenades, parks and other green spaces. Investor and former Detroit Piston Dave Bing, now owner of The Bing Group, discussed his condominium project, one of three major condominium projects planned for East Riverfront. Faye Nelson, CEO, Detroit Riverfront Conservancy, provided information on the programming activities being designed to foster broad-based community participation on the East Riverfront. �President's Report May 2007 Page 3 May 21 -Asset Allocation & Investment Committee Roles & Responsibilities Teleconference CMF will be hosting a call to cover the importance of having an asset allocation that supports the foundation's spending policy goal. This call will also cover investment committees' roles and responsibilities. May 22 -Southeast Michigan Program Officers' Lunch The JohnS. and James L.Knight Foundation will host lunch at the new Mexicantown International Welcome Center and Mercado in Southwest Detroit. Maria Elena Rodriquez, president, Mexicantown Community Development Corporation, will discuss the plans for the new Mercado, and Ray Waters, President, ShoreBank Enterprise Detroit will provide an overview of grants and P .R.I.'s awarded to nonprofits and minority businesses working for neighborhood development. May 23- M ichigan Grantmakers for Women & Girls' Annual Spring Workshop- "Public Policy and Funding Change: Moving a Women's Agenda Forward"- Lansing With the passage of Prop 2 and Michigan's tough economic challenges, the need to engage women in public policy is even more critical. This workshop will connect philanthropy to public policy at the local, state and national levels, and will feature keynote speaker, Marie Wilson, president & founder, The White House Project-a national, nonpartisan, not-for-profit organization, which aims to advance women's leadership in all communities and sectors. She is the former president of the Ms Foundation for Women, co-creator of Take Our Daughters and Sons to Work Day and author of Closing the Leadership Gap: Why Women Can and Must Help Run the World. June 15 - 91h Family Foundation Retreat-"Creating a Blueprint for the Future"- Crystal Mountain This year's Retreat will feature speakers Doug Bauer, Senior Vice President, Rockefeller Philanthropy Advisors, and Ken Gladish, the new Director of the Grantmaking School and Distinguished Professor, Dorothy A. Johnson Center for Philanthropy and Nonprofit Leadership, Grand Valley State University. Camp FLY will be back for the 3 - 7 year olds and a youth grantmaking activity "Envisioning the Future" is planned for the 8 - 17 year olds. In addition, there will be a creative happening in the MI Legacy Art Park for all ages led by sculptor David Barr and artist Pat Innis. June 19 - DAG 2007-2008 Program Planning Committee meeting- Thirteen Detroit Area Grantmakers will meet to plan the eight DAG luncheon programs for 2007 - 2008. This year the committee is chaired by Tonya Allen, Vice President of Program at The Skillman Foundation. June 22-24- Youth Leadership Conference- University of Michigan Registrations for "Moving Forward with the Basics", the Youth Grantmakers Summer Leadership Conference to be held on June 22-24, are coming in fast! We have confirmed participation from II outof-state youth grantmaking councils coming from as far west as Washington, and as far east as Virginia. The MCFYP Committee is working diligently to plan programming around 3 central "basics" : Fund Development, Grantmaking, and Youth Empowerment, while there will also be a track specifically for Advisors addressing the issues of orientation and recruitment. �President's Report May 2007 Page4 Communications Y AC Advisor Listserve On April26, YAC advisors from around the state of Michigan began using a new Listserve designed to increase collaboration and effectiveness ofYACs in Michigan. This tool will also serve as the main distribution mechanism for publications and announcements regarding CMF sponsored Y AC activities. Michigan Philanthropy Oral History Project StoryCorps will return to Michigan for two more recording sessions in 2007. A summer recording session is currently being planned for the Summer Youth Leadership Conference/northern Michigan and another at the 35th Annual Conference in Dearborn. CMF is grateful to the Fetzer Institute for their generous 2007 grant support of $1 0,000 for the project. Michigan Radio is also reviewing and editing the recordings from the first session at the 34th Annual Conference in Kalamazoo. Recordings identified worthy of radio broadcast will be aired in November during Philanthropy Month on their stations: 91.7 Ann Arbor/Detroit, 104.1 West Michigan and 91.1 Flint. June 27- Communications Marketing Advisory Council (CMAC) The CMAC will convene for its third meeting on June 27, 2007. The primary meeting focus will be to review the initial results of the cultural competency audit of print and electronic communications tools. Partnerships Accountability & Effectiveness Initiative of the Forum of Regional Association of Grantmakers- Chicago CMF is one of six regional associations chosen to participate in the Forum's Strategic Communications & Media Relations Project. CMF's communications team- Kathy Ginocchio, Becky Noricks and Vicki Rosenberg attended media relations training facilitated by Douglas Gould & Co. in Chicago on March 21-22 and will continue to participate in on-line and in-person training on that topic and strategic communications plan development. Grantmaker Education Task Force Advisory Committee ofthe Forum - Chicago Vicki Rosenberg co-chaired the Forum's new Grantmaker Education Task Force's first national advisory committee meeting on March 23-24 with Judie Donaldson, executive director, Grantmakers for Western Pennsylvania. With support of an $800,000 Hewlett Foundation grant, the Building Capacity for Grantmaker Education Project of the Task Force seeks to strengthen the quality, scope, and accessibility of learning opportunities for those working in or governing foundations across the country by creating: A comprehensive framework that defines essential skills and competencies of effective grantmakers (i.e., foundation staff in all rolls and trustees). New tools and programs that fill existing gaps and increase regional associations' capacity to serve their members in partnership with providers, researchers, and others. An evaluation system for regional associations to measure the impact of their programs. April23- 2-1-1 Briefing with Michigan Association ofUnited Ways- Mt. Pleasant. Flint & Benton Harbor CMF partnered with the Michigan Association of United Ways to produce a three site interactive briefing on 2-1-l featuring CMF members: Bob Long from the W .K. Kellogg Foundation, Dave Campbell from the McGregor Fund, and Ranny Riecker from the Herbert H . and Grace A. Dow Foundation. The grantmakers noted the value of 2-1-1 as a planning and collaborative building tool. �President's Report May 2007 Page 5 Thirty-five foundation representatives participated in this event designed to help facilitate statewide coverage by 2-1-1. May 24-25- TCFN Peer Exchange- Verbania Italy On invitation by the Cariplo Foundation in Milan, Donnell Mersereau, Director, Community Foundations and Executive Director, MCFV w ill gather with fellow colleagues of the Transatlantic Community Foundation Network (TCFN) to compare how community foundations in different countries organize their grant-making and use their grantmaking process to measure impact within their communities. The objective is to conduct a system analysis of the work flow that characterize the way different foundations handle their grantmaking and evaluation from an operative point of view. Ms. Mersereau will be introducing the Making a Difference: Measuring Community Impact curriculum researched and designed by MCFV and currently available for US community foundations through Council on Foundations" Excellence in Education. Midwest Community Foundations' Ventures (MCFV) - Transfer of Wealth Analysis With grant support from the W.K. Kellogg Foundation, MCFV has retained Don Macke of Community Assistance Initiative to conduct a county-by-county Transfer of Wealth Analysis in Michigan, Ohio, and Illinois. The Williams Group has also been retained to develop a toolkit to help community foundations in each of the states use the data from the analysis as part of their fund development efforts. Implementation of the Transfer of Wealth Analysis will be a major activity for the fall Annual Meeting of community foundations in each of the three states. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Presidents-Report Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book presidents report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book presidents report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50689 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/09e569b132f5f2666df30610843504bc.pdf 1d948bc8add628e87044f22cec684064 PDF Text Text CMF Councilof M ichigan Founcfat ions Serving grantmakers. Advancing giving. Board of Trustees Meeting Minutes Thursday, March 15,2007 University Club of MSU, Lansing F ireplace Room The Meeting of the Board of Trustees of the Council of Michigan Foundations (CMF) was held at the University Club ofMSU in Lansing on Thursday, March 15, 2007, pursuant to written notice duly given. Chairperson Diana R. Sieger called the meeting to order at 10:00 a.m. Trustees and Officers present: Melonie Colaianne John Colina Robert Collier Rev. Louis Felton via phone Julie F. Cummings via phone Russell Gabier Allan Gilmour Carol Goss Wes Maurer, Jr. Rachel Mraz David Page Phillip Peters David Sebastian Gerald Smith Betsy Upton Stover via phone Sandra Ulsh Amanda Van Dusen Lloyd Yeo Special Guests: Becky Bechler, Partner, Public Affairs Associates, Inc. The Honorable Andy Dillon, Speaker of the House Karen Aldridge-Eason, Office of the Foundation Liaison CMF Staff: Susan Cuddington, Executive Assistant to the President Rachel Dunne, Public Policy Fellow Jeri Fischer, Director, Membership & Special Projects Mike Gallagher, Managing Editor Andrew Hastings, Board Fellow David Lindberg, Vice President, Finance & Administration Donnell Mersereau, Director, Community Foundations Becky Noricks, Communications Associate Vicki Rosenberg, Vice President & COO Self-introductions were made followed by Chairperson Sieger's acknowledgement of Sandra U lsh for her years of service to the Board ofTrustees and this would be her last CMF Board Meetings due to her retirement from the Ford Motor Company Fund. Chair Sieger presented Sandy with the following resolution: Upon motion duly made, supported and unanimously approved, it is RESOLVED that the Board of Trustees of the Council of Michigan Foundations (CMF) extends its appreciation to Sandra E. Ulsh, past president of the Ford Motor Company Fund, for her six years of dedicated service as a Trustee of CMF including Vice Chair for Corporate Philanthropy and Co-chair of the 32"d Annual Conference, and for her �Board o f Trustees Meeting M inutes- March 15, 2007 Page 2 support for our efforts to strengthen, promote and increase philanthropy in Michigan. We welcome your continued advocacy for philanthropy in Michigan. �Board o f Trustees Meeting M inutes- March 15, 2007 Page 3 Chairperson Sieger announced a resignation letter was received from Trustee George Francis upon his retirement from Blue Cross Blue Shield of Michigan effective January 29, 2007. Chairperson Sieger congratulated Trustee Carol Goss on her recognition as the 2007 James A. Joseph Lecturer on Philanthropy by the Association of Black Foundation Executives at the Council on Foundations Conference in Seattle. She will speak on the power of change in taking risks with fellow Trustee Gerald Smith introducing her. Consent Agenda The consent agenda was presented. Upon motion duly made, supported and unanimously approved, it is RESOLVED that the Consent Agenda items be approved: The Minutes of October 17, 2006 Board Meeting, and The Minutes of February 5, February 20, and March 5, 2007 Executive Committee Meetings, and The Treasurer 's Report for the December 31, 2006 Financials, and The December 31 , 2006 Investment Report, and The following grantmakers be approved for membership: Peter and Julie F. Cummings Family Foundation, Birmingham McKinley Foundation, Ann Arbor Polasky Family Foundation, Saginaw World Heritage Foundation, Trenton 2007-08 Pla n of Work Vicki Rosenberg presented the new Plan of Work overview recently condensed to one page. Highlights of the presentation included: Cultural Competency as a primary activity; a convening on faith based giving; an economic summit; working with the Council on Foundations' on including youth at the 2008 international conference; creating the first communication network; adding small family foundation lunch gatherings; and continuing with the Oral History Project with a taping in Northern Michigan and again at the fall Annual Conference in Dearborn; and the new website launch. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the Plan of Work for 2007-08 as recommended by the Executive Committee be approved. 2007-08 Budget and C reation of Core Services E ndowment Fund Audit Committee Chair Phil Peters and Dave Lindberg, Vice President of Finance and Administration, presented the 2007-08 Budget. Mr. Lindberg noted CMF bases its membership dues on asset levels. The Audit Committee has recommended that CMF wait another year before implementing a dues increase. Mr. Lindberg noted the additional member contributions of the W.K. �Board o f Trustees Meeting M inutes- March 15, 2007 Page 4 Kellogg Foundation and the C. S. Mott Foundation. He reviewed the ten endowment funds and noted with the 5% spending CMF has $643,000 in spendable income. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the CMF Board of Trustees approve the 2007-08 CMF Core Services and Endowment Funds Budget as recommended by the CMF Audit & Executive Committees. Mr. Lindberg presented the Audit Committee's recommendation to establish an endowment fund to support the ongoing Core M ember Services using a portion of the current $1 ,200,000 surplus cash balance. Management recommends $600,000 of the current surplus be used to establish this endowment fund, leaving $600,000 as a cushion to cover fluctuations in cash fl ow. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the CMF Board of Trustees approve the establishment of a Core Services Endowment Fund using $600,000 of the approximately $1,200,000 Core Services surplus cash balance as recommended by the CMF Audit & Executive Committees. The purpose of this endowment fund will be to support Core Member Services. Government Relations In Committee Chair Libby Maynard' s absence, Rob Collier and Chairperson Sieger presented the Government R elations Report. Sieger noted that she along with 45 other CMF members and staff attended the Foundations on the Hill annual event in Washington February 27 & 28. Several Trustees commented and felt the legislators were well informed. Congressman Camp received the Friend of Philanthropy Award and M ichigan 's newest Representative Tim Walberg- attended the CMF annual dinner. R ep. Dave Camp will co-sponsor along with R ep. Thompson of California the House version of the Rural Heritage Conservation Act, a bill to extend the conservation easement provision in the Pension Bill, and a provision well supported by many CMF members. Therefore, it is recommended that CMF take a position in support of this legislation. Upon motion duly made, supported and unanimously approved, it was RESOLVED that the Council of Michigan Foundations support the Rural Heritage Conservation Act, S. 469 that will support the goals of sustainable land use and conservation promoted by the Land Use Funders Group and other members. Collier a lso introduced the proposed Call 2-1-1 legislation at the federal level, noting a number of CMF members have been instrumental with 2-1-1 and that currently approximately 70% of Michigan has access to 2-1-1 services. T here was consensus by the Board to take no action at this time in support of the legislation, and to refer it to the CMF Public Pol icy Committee for consideration first. Special guests, Speaker of the House Andy Dillon and Becky Bechler, Partner of Public Affairs Associates, joined the meeting for a discussion of Michigan's economy with the Board. Highlights of Speaker D illon's comments included: • What should the foundations role be? He would like to see foundations team up with the state with the common purpose of economic development, �Board o f Trustees Meeting M inutes- March 15, 2007 Page 5 • • • • • • Would like to increase activity at the 21st Century Job Fund, reexamine peer review, include people from other sectors/expertise, charge to apply, Concerned about the loss of Comerica headquarters in Detroit, Need to convene businesses, foundations, local economic development, MEDC quarterly to get people in the same room, Require entrepreneurial institutes to inspire/train new business start-up leaders, Michigan needs a collective "jolt" to start cultural transformation, and Not just a capital issue- talent & leadership needed to. Speaker Dillon left the meeting. Collier briefed the Board on the background of the State Inheritance Tax. CMF helped repeal the Inheritance tax in 1993. However, the Governor has proposed that Michigan decouple from the Federal Estate Tax that would allow Michigan to reinstitute an Inheritance Tax. The Board discussed the need to explore alternatives and consider the loss of talent due to citizens relocating. RESOLVED that the Council of Michigan Foundations oppose reintroduction of a Michigan Inheritance Tax, which will encourage Michigan residents to move their primary residence out of state, and encourage reintroduction of the pick up tax as part of the federal estate tax that would place Michigan on an equalleve1 as other states. The Board adjourned for lunch at 12: 10 p.m. and reconvened the meeting at 1:00 p.m. Foundation Liaison, Karen Aldridge-Eason, noted the Governor participated on a quick conference call with Funders Concerned about Michigan's Economy in January and has requested a follow-up meeting in May. Board Members remarked it is important to continue to build relationships with the leadership of the State legislature. Succession Plan Chairperson Sieger acknowledged former Board Chair Julie Cummings' work on the development of the succession policy and indicated that the proposed policy has been developed by Barbara Rapaport and Rob Collier. Trustees approved the policy in concept and asked that the proposed steps include more flex ibility in using a search consultant instead of a required search firm. Collier will amend the policy and bring it back to the Board in May. Chairperson Sieger also commented on the work of the Organizational Analysis and noted the Executive Committee would meet with Rob on a monthly basis to give him guidance/support during the process. President' s Report Collier introduced trustees and staff to offer highlights on the following: 351h Annual Conference Vicki Rosenberg, Vice P resident & COO, reported Sir Ken Robinson, has been confirmed as the first key note speaker. She introduced the Co-chairs for the Conference: Melonie Colaianne ofMASCO, Allan Gilmour of the Community Foundation for Southeast Michigan, and Gerald Smith of the Detroit Youth Foundation. A video clip of Sir Ken Robinson was shown. �Board o f Trustees Meeting M inutes- March 15, 2007 Page 6 Cultural Competency Initiative Ms. Rosenberg reported the audit of human resource policies is complete, and the communications audit is currently in process. Community Foundations Donnell Mersereau, Director, Community Foundations, presented the Community Foundation update including: the development of an electronic newsletter for community foundation CEOs, a 2day tri-state CEO retreat in Toledo in which 76 executive directors participated, an upcoming Program Officers Retreat in Detroit, Midwest Community Foundations' Ventures Transfer of Wealth Analysis and the $15 million Access to Recreation grant. Communications Becky Noricks, Communications Associate, reported on the new nonmember publication titled, Effective Foundations Bulletin, which will be distributed to nonmember foundations in the state, twice per year. The first issue will focus on how to correctly fill out a 990 PF as well as a soft sell recruitment effort. Ms. Rosenberg acknowledged Mike Gallagher's article on the Communications Network about CMF's Enews. Education The Essential Skills for Strategies Seminar begins March 20 with the first of the three-day workshop. Scheduled presenters include Marsha Rapp of the Grand Rapids Community Foundation, Kathy Huschke of the Fremont Area Community Foundation, and Dave Campbell from the McGregor Fund as well as an observer from both the Council on Foundations and the Forum of Regional Associations. Corporate Services Trustee Melonie Colaianne reported 20 people attended the Boston College Center for Corporate Citizenship Workshop last week hosted by MASCO. Family Philanthropy Trustee Rachel Mraz reported on her attendance at the Council on Foundations Family Foundation Conference in Baltimore just prior to Foundations on the Hill. She spoke as part of a Next Generation pre-session. Funders Concerned about Michigan' s Economy Andy Hastings, CMF Board Fellow from the University of Michigan Ross Business School, briefed the Board on the February 16 meeting with Dr. Stephen Forrest, Vice President for Research at the University of Michigan. Dr. Forrest shared an overview of a plan of how Michigan's research universities can stimulate Michigan's economy. Andy indicated that as part of his Board Fellowship with CMF he would be looking at other states and identifying best practices. Dr. Forrest has requested to meet with foundation leaders again in late May. The Board discussed CMF's role in being the organization that can bring the right groups of funders and other interested parties together to discuss Michigan's economy. Themes covered in the discussion included: Michigan needs a collective jolt while also addressing the issue of talent and leadership and creating an environment to be attractive and thrive. There was a helpful reminder that CMF must not lose site of the needs of members first. �Board o f Trustees Meeting M inutes- March 15, 2007 Page 7 Public Policy Rachel Dunne, Public Policy Fellow, reported the Arts Affinity Group met with ArtServe. Trustee Dave Egner expressed appreciation to Rachel for her work as Fellow noting that this would be the last Board meeting for her, but the Public Policy Committee would also be thanking her at their April meeting. Adjournment There being no further business to come before the Board, Chair Sieger adjourned the meeting at 2:40p.m. Diana R. Sieger, Chair Robert S. Collier, President � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Previous-Board-Minutes Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book previous board minutes Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book previous board minutes. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50690 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/59355711f195ceeb574e5f29ecbc02ca.pdf 9c8e7ca1aaa392da4cceb4661cf1ffcf PDF Text Text CMF Council of Michi an Fou n~ations Serving grantmakers. Advancing giving. May 14,2007 To: Diana Sieger, Chairperson, and Members of the Board of Trustees From: Dave Egner, Co-Chair, Public Policy Committee Rachel Dunne, 2006-2007 Public Policy Fellow Re: Public Policy Report- Action Requested Since the March Board Meeting, the Public Policy Committee met on April 17,2007. The Agenda included: updates on developments among the CMF affinity groups, consideration of the 2-1-1 resolution referred to the committee at the March Board meeting, and discussion of the state budget crisis with special guests Tom Clay from the Citizens Research Council and Sharon Parks from the Michigan League for Human Services. The Committee also thanked Rachel Dunne for her year of service as the Public Policy Fellow and welcomed our new Public Policy Fellow, Jaclyn Miel-Uken, a 2007 graduate of the Ford School of Public Policy at the University of Michigan, whose resume follows this memo. We look forward to having you meet Jaclyn at the May Board Meeting - her second day on the job. After extensive discussion, the Committee refers the following two resolutions to the Board of Trustees for your consideration. Both resolutions were approved by the Committee during the April 17 meeting. RESOLVED that the Council of Michigan Foundations support 2-1-1 as an important resource for Michigan residents and therefore support federal legislation S. 211 and H.R. 211 that would provide federal funds to assist states in providing statewide coverage. Background The Committee discussed the demonstrated value in Michigan of 2-1-1 as both a planning and collaboration tool. With 70% of the residents currently served due to start up funds provided primarily by foundations and individual gifts, there was consensus that 2-1-1 cannot be sustained in Michigan without the financial partnership of state government, particularly with potential cost savings for service delivery. The Committee also acknowledged that CMF is co-hosting with the Michigan Association of United Ways in late April a 2-1-1 briefing for 30 grantmakers in the three regions of the State currently not covered: the Southwest, Thumb area, and Northern Lower Peninsula. The motion to support federal legislation for 2-1-1 passed with the understanding that the committee also communicate the need for strong support for public investment by the state in 2-1-1. �Public Policy Report May 2007 Page 2 RESOLVED that the Council of Michigan Foundation urges swift action to ensure sufficient state and federal revenue bases to avoid further budget reductions and to reinvest in arts and culture, pre-k- 12 education, private and public higher education, environment and natural resources, health and human services, and to support reasonable growth over time. Background After comments from Tom Clay of the Citizen's Research Council and Sharon Parks of the Michigan League for Human Services, the committee had an active discussion about the current state budget crisis and whether a position should be taken by CMF. There was consensus that the state budget crisis is having a negative impact on the grantees of many of CMF members and thus will impact the ability of grantmakers to fulfill their respective missions. Language that has been approved by the Michigan Nonprofit Association's board was shared and approved for recommendation to the CMF Board. There was strong concern voiced that the resolution also include the issue of dealing with structural legacy costs, such as pensions and health care. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Public-Policy Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book public policy Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book public policy. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50691 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/4b49e82d37e36516622ee42a3de0b43f.pdf 8fbf632760559d52216af385e67464b7 PDF Text Text CMF Council of Michi an Foun~tions Serving grantmaker5. Advancing giving. May 14,2007 To : Diana Sieger, Chairperson and Members of the Board ofTrustees From: Libby Maynard, Co-Chair Government Relations Committee Rob Collier, President Re: Position on SB 392 & SB 393 Uniform Prudent Management of Institutional Funds Act The following Resolution is presented for your consideration and action. RESOLVED that Senate Bills 392 & 393 on the Uniform Prudent Management oflnstitutional Funds Act (UPMIFA) be supported, provided that language is added indicating that the Act will have no impact on the variance power of community foundations and will have no effect on charitable trusts that are already covered by Michigan Probate Law. Background The addition of the language noted in the Resolution comes from the Probate and Trusts Section of the State Bar, chaired by Robin Ferriby, Vice President of the Community Foundation of Southeast Michigan. The Section has voted to support the two bills with the changes noted below. SB 393 is a technical citations bill that amends citations in the nonprofit corporation act. Clarification that UPMIFA does not apply to charitable trusts "Sec. 11. This Act applies solely to matters included within the meaning of the terms "institution", "institutional fund" and "person" as defined in this Act and no part of this Act shall apply to, or affect, the validity, construction, interpretation, effect, administration or management of any other trust, estate or applicable governing instrument." Clarification that a community foundation exercising its variance power does not r equire approval of the Michigan Attorney General "(5) If the tenns of a gift instrument confer a power on the institution to release or modify a restriction on the management or investment of an institutional fund or the particular charitable purpose or restriction on the use of the institutional fu nd, the institution shall have the power to so modify or tem1inate that restriction and the other provisions of this Section shall not apply to that release or modification. A release or modification shall not allow a fund to be used for a purpose other than a charitable purpose of the institution." At its annual meeting in July 2006, the National Conference of Commissioners on Unifonn State Laws (NCCUSL) approved the Uniform Prudent Management oflnstitutional Funds Act (UPMIFA) and recommended it for enactment by the legislatures of the various states. UPMIFA is designed to replace the existing U nifonn Management oflnstitutional Funds Act (UMIFA), which was approved by NCCUSL in 1972 and has since been enacted in 47 states. UMIFA was a pioneering statute, providing uniform and fundamental rules for the investment of funds held by charitable institutions and the expenditure of funds donated as "endowments" to those institutions. Those rules supported two general �UPMIFA Memo May 14,2007 Page 2 principles: 1) that assets would be invested prudently in diversified investments that sought growth as well as income, and 2) that appreciation of assets could prudently be spent for the purposes of any endowment fund held by a charitable institution. These two principles have been vital to asset management for endowments since UMIF A became the law of the land in nearly all U.S. jurisdictions. UPMIFA continues these fundamental principles as a needed upgrade ofUMIFA. Both investment in assets and expenditure for charitable purposes have grown exponentially in the 35 years since UMIF A was drafted; asset management theory and practice have also advanced. UPMIFA, as an up-date and successor to UMIFA, establishes an even sounder and more unified basis for charitable fund management than UMIFA has done. INVESTMENT In 1972, UMIF A represented a revolutionary advance over prevailing practices which imposed upon endowments the limited investment opportunities available for managing trust assets- even endowments not organized as trusts. UPMIFA incorporates a more exact set of rules for investing in a prudent manner. It requires investment "in good faith and with the care an ordinarily prudent person in a like position would exercise under similar circumstances." It requires prudence in incurring investment costs, authorizing "only costs that are appropriate and reasonable." Factors to be considered in investing are expanded to include, for example, the effects of inflation. UPMIF A emphasizes that investment decisions must be made in relation to the overall resources of the institution and its charitable purposes. No investment decision may be made in isolation, but must be made in light of the fund's entire portfolio, and as a part of an investment strategy "having risk and return objectives reasonably suited to the fund and to the institution." A charitable institution must diversify assets as an affirmative obligation unless "special circumstances" dictate otherwise. Assets must be reviewed within a reasonable time after they come into the possession of the institution in order to conform them to the investment strategy and objectives of the fund. Investment experts, whether inhouse or hired for the purpose, are held to a standard of care consistent with that expertise. UMIFA initiated the era of modem portfolio management for charitable institutions. UPMIFA provides the standards and guidelines that subsequent experience tells us are the most appropriate for the purpose. Charitable institutions will have more precise standards to guide them. Courts will have more precise standards with which to measure prudence in the event of a challenge. The result should be more money for programs supported by charitable funds, including endowments. EXPENDITURE UPMIFA builds upon UMIFA's rule on appreciation, but it eliminates the concept of"historic dollar value." UPMIFA, instead, provides better guidance on prudence and makes the need for a floor on spending unnecessary. UPMIF A states that the institution "may appropriate for expenditure or accumulate so much of an endowment fund as the institution detennines to be prudent for the uses, benefits, purposes and duration for which the endowment fund is established." Seven criteria guide the institution in its yearly expenditure decisions: "1) duration and preservation of the endowment fund; 2) the purposes of the institution and the endowment fund; 3) general economic conditions; 4) effect of inflation or deflation; 5) the expected total return from income and the appreciation of investments; 6) other resources of the institution; and, 7) the investment policy of the institution." These standards 2 �UPMIFA Memo May 14,2007 Page 3 mirror the standards that apply to investment decision-making, thus unifying both investment and expenditure decisions more concretely. RELEASE OR MODIFICATION OF RESTRICTIONS UPMIF A recognizes and protects donor intent more broadly than UMIF A did, in part by providing a more comprehensive treatment of the modification of restrictions on charitable funds. Sometimes a restriction imposed by a donor becomes impracticable or wasteful or may impair the management of a fund. The donor may consent to release the restriction, if the donor is still alive and able to do so, but if the donor is not available the charity can ask for court approval of a modification of the restriction. The trust law doctrines of cy pres (modifying a purpose restriction) and deviation (modifying a management restriction) probably already apply to charitable fund s held by nonprofit corporations. UPMIFA makes this clear. 3 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Senate-Bills-392-and-393 Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book Senate Bills 392 and 393 Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book Senate Bills 392 and 393. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50692 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/2d0ff1c69a0d81541eee2dd554cad7ad.pdf 0c04f0d460d0872073eb727a6986f9a9 PDF Text Text Council of Michi an CiV Foun~ations Serving g rantmakers. Advancing giving. May 14,2007 Memo to: Members of the Board of Trustees From: Diana Sieger, Chairperson Rob Collier, President Re: Update on Succession Policy reviewed at M arch Board Meeting At the March Board Meeting you approved the Succession Policy in concept and asked that it be further adjusted by Barbara Rapaport to refl ect the flexibility of not using a search firm for a full search process. The document has been changed with the additions highlighted in Bold in the section of the resolution on page two dealing with proposed steps. Therefore, the following Resolution is presented for your approval: RESOLVED that a Succession Policy for permanently titling the position of President of the Council of Foundations include the following steps, recognizing that an absence of the President due to health reasons would be impacted b y the short and long term disability policies of the organization. Within three working days of the loss of the President- by resignation, dismissal or death : • The Executive Committee of the Board shall meet by conference call, with all Trustees invited to participate, to select the Vice President Finance and Administration as Interim President, and identify two current or former members of the Board to lead a Search Committee. • The Chairperson of the Board will meet with the Vice President Finance and Administration and staff to inform them of the Interim President's appointment and the intent to fonn a Search Committee co-chaired by two current or fom1er members of the Board of Trustees. • The Chairperson will contact the candidates identified to lead the Search Committee and confinn their willingness to serve. • The Chairperson and the Vice President Finance and Administration will then issue a statement to the membership and public on the Interim President's appointment and creation of the Search Committee. Within two weeks of the loss of the President: • The Interim President shall present for the Executive Committee's approval his/her critical work priorities and personnel issues to assure a seamless transition with minimum disruption of services in an interim period that would last a projected six to eight months. �Succession Policy Update May 2007 Page 2 • The Executive Committee shall meet to approve the revised job description for the Interim President and meet with the Co-Chairs of the Search Committee to approve: the membership of the Search Committee, an updated job description for the position of President and a budget for retaining external consulting services and/or a Search firm. Within one month of the loss of the President: • The Search Committee shall convene and determine what level of external consulting services, if any, are needed and will develop a specific timeline for completion of Search Committee activities. If the Search Committee determines that the services of a Search firm are needed to help identify and pre-screen candidates, then the Committee will seek at least two proposals from qualified Search firms. Within two months of the loss of the President: • The Search Committee shall interview and retain either an External Consultant and/or a Search firm if needed. If potential candidates are to be identified with the assistance of a Search firm, the opening for the permanent position of President will be posted. • The External Consultant and/or Search firm shall meet monthly by phone or in person with the Search Committee and provide written progress updates to the Chairperson and Board ofTrustees with the goal of appointing a new President by the end of month six. If a Search firm is engaged to assist with this process, it will provide the Search Committee a recommended slate of at least three candidates to interview for consideration by the Board of Trustees. It is recognized that up to two additional months or an appropriate time may be needed to allow the new President to transition to CMF. RESOLVED further that should the current President of CMF be incapacitated in some way and unable to fulfill his responsibilities for a period of up to one year, the Vice President Finance and Administration, would be appointed as Interim President by the Chairperson and would work with the Executive Committee to assure a seamless transition and minimum disruption during the absence of the President. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-05-22_Succession-Policy-Update Title A name given to the resource Council of Michigan Foundations 2007-05-22 board book succession policy update Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-05-22 board book succession policy update. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50693 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-05-22 https://digitalcollections.library.gvsu.edu/files/original/c87688ab707adcd80d677722eba59da7.pdf 398d5e5b02b7c458d9dd1ea9fe5d08d0 PDF Text Text October 15, 2007 To: CMF Board ofTmstees From: Diana R. Sieger, Chairperson Robert S. Collier, President cc: David Lindberg Vice President, Finance & Administration New Board ofTmstee Nominees Re: Monday, October 22,2007 Board of Trustees Meeting Hyatt Regency Dearborn Rotunda @ 2:30p.m. (Take elevator marked Rotunda to 16'h Floor) We are pleased to enclose the Agendas and materials for both the Board of Trustees Meeting and Annual Meeting of the Supporting Organizations that will take place on Monday, October 22 following the conclusion of the luncheo b n plenary with Henry Louis Gates, Jr. Promotion for the Annual Conference continues. For the first time we are selling tickets to the plenary sessions only. If you have a fellow trustee or staff person who you would like to register for one of the plenary events, it is not too late! Please let Mary Trim bach our conference registrar (registrar@cmif.org) know by Wednesday, October 17. We hope you can join us during the following special activities: Sunday, October 21 9:30- 10:30 p.m. Monday, October 22 7:45a.m. - 8:45a.m. Tuesday, October 23 11 :30a.m. - 12:15 p.m. Special reception with plenary speaker Sir Ken Robinson Location: Stearns Knight, 2"d Floor Annual Members Meeting Location: Grand Ballroom (Please stand when we introduce you) Special Reception with plenary speakers Bill Novelli & Jane McGonigal Location: Stearns Knight, 2"d Floor Please let Rob or Sue Cuddington know if you have any questions about the Conference. We thank you for your continued support! �CMF Councilof M ichigan Foundat ions Serving grantmakers. Advancing giving. Board of Trustees Meeting October 22, 2007- 2:30p.m. Hyatt Regency Dearborn Rotunda -16th Floor AGENDA I. Call to Order Introductions TAB Diana Sieger, Chairperson ACTION ITEMS ADJOURN FOR ANNUAL MEETING OF SUPPORTING ORGAN IZATIONS II. • • • • • Phil Peters Consent Agenda Minutes of May 22, 2007 Board Meeting Minutes of July 9, 2007 and September 7, 2007 Executive Committee Meetings Treasurer's Report with Financials for period ending August 3 1, 2007 Investment Report Membership Report III. Governance Committee Report Carol Goss 2 IV. Government Relations Committee Report Libby Maynard 3 REPORTS 111 V. 35 Annual Conference Allan Gilmour, Gerald Smith, Vicki Rosenberg VI. Public Policy Committee Dave Egner & Jaclyn Miel-Uken 5 VII. President's Report Rob Collier VIII. Special Guest, Henry A.J. Ramos Executive Director, Diversity in Philanthropy Project 4 6 7 �Board Meeti ng Agenda October 22, 2007 Page 2 IX. Future Meeting/Event Dates March 4 & 5, 2008 - Foundations on the Hill, Washington, D.C. Tuesday, February 12, 2008 - Winter Board Meeting at the University Club, E. Lansing (10am-2pm) Tuesday, May 20, 2008 - Board Meeting (1 :00 - 4:30 p.m.) and Regional Reception (4:30-6:00 p.m.), Mt. Pleasant During October 12-14, 2008 Annual Conference in Grand Rapids X. Other Business XI. Adjournment �CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. Executive Summary of 10.22.07 Board Agenda ACTION ITEMS I. Annual Members' Meeting of the Supporting Organizations of CMF See separate folder of materials II. Consent Agenda RESOLVED that: the Minutes of the May 22, 2007 Board Meeting, the July 9 and October 4, 2007 Executive Committee Meeting, the August 31, 2007 Financial Report (as recommended by the CMF Audit Committee), the Investment Report, and membership of the Ed & June Kellogg Foundation, the Fifth Third Foundation, the Paul & Peggy Rowley Donor Advised Fund, the Michigan Masonic Charitable Foundation, and The Pokagon Fund be approved. III. Governance Committee Recommendations RESOLVED that the actions of the Committee on the Class of2010, as detailed below, be accepted, and RESOLVED further that the Board ofTrustees of the Council of Michigan Foundations (CMF) extends its appreciation to Julie Fisher Cummings, Trustee, Max M. and Marjorie S. Fisher Foundation, for her nine plus years of dedicated service as a Trustee of CMF, including: her leadership as Chair of the Board of Trustees, development of the Cultural Competency Plan and Organizational Analysis, implementation of Guiding Principles as a condition of membership in CMF, chairing the Family Philanthropy Committee, launching the Family Foundations Retreat, and we welcome Julie's continued advocacy for philanthropy as a member of CMF's Advisory Cabinet. RESOLVED further that the Board of Trustees of the Council of Michigan Foundations (CMF) extends it appreciation to Libby Maynard, President of the Heron Oaks Foundation, for her nine years of dedicated service as a Trustee of CMF, including: chairing the Government Relations Committee, chairing two Annual Conference Committees, supporting development of the Cultural Competency Plan and Organizational Analysis, and implementation of Guiding Principles as a condition of membership in CMF, and we welcome Libby's continued advocacy for philanthropy as a member ofCMF's Advisory Cabinet. �Board Agenda Summary October 22, 2007 Page 2 RESOLVED that the following individuals be elected to the offices as specified for a one-year term effective October 23, 2007. Chairperson - Diana Sieger, President, Grand Rapids Community Foundation Vice Chair Community Foundations - Elizabeth Cherin, President, Fremont Community Foundation Vice Chair Family Foundations- Betsy Upton Stover, Trustee, Frederick S. Upton Foundation Vice Chair Corporate Foundations - Melonie Colaianne, President, MASCO Corporation Foundation Secretary- Amanda VanDusen, Principal, Miller, Canfield, Paddock and Stone P.L.C. Treasurer - Phillip Peters, Vice President - Administration and Secretary, Charles Stewart Mott Foundation President - Robert Collier IV. Government Relations Committee Recommendations RESOLVED that the Legislative Goals Statement, included as Attachment B, be adopted for 2007. REPORTS • 35the Annual Conference Update • Public Policy Committee Update • President's Report • Discussion with Henry A.J. Ramos, Executive Director, Diversity in Philanthropy Project S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\Executive Summary of Board Agenda 10.22.07.doc � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Board-Agenda Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book board agenda Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book board agenda. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50694 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/493bc2134045cc92d9cbb6208fff0965.pdf 699b038a95b66a59a80212c19485722c PDF Text Text CMF Council of Michigan Fou ncfations Return via fax: 616.842.1760 by October 19, 2007 Serving grantmakers. Advancing giving. Annual Meeting of Members Notice and Board of Trustees Ballot September 13, 2007 In accordance with the bylaws of the Council of Michigan Foundations (CMF), notice is hereby given that the Annual Meeting of Members will be held on Monday, October 22, 2007 at 7:45a.m. at the Hyatt Regency in Dearborn for the purposes of electing Trustees, reporting to the members on the business of CMF, and such other business as may properly be brought before the meeting. CMF is governed by a Board of individuals who represent private, family, community, public and corporate foundations, in addition to corporate giving programs. The following ten individuals have been nominated by the Governance Committee for election to the Board of Trustees for a three-year term beginning October 22, 2007. The undersigned hereby appoints Amanda VanDusen, Secretary ofCMF, and Senior Principal at Miller, Canfield, Paddock, and Stone, PLC, as proxy of the undersigned, with power to appoint a substitute, and authorizes her to vote at the meeting on behalf of the undersigned as indicated below. The proxy will use her discretion as to any matters that may come before the meeting. Please vote and return your marked ballot on or before Friday, October 19, 2007 via fax to 616.842.1760 or 616.842.3010 or download the ballot at www.cmi(.org/ballot, complete and email it to scuddington@,cmif.org. Ifyou need access information for the members only section ofthe CMF web site, please call or email Sue Cuddington at 616.842.7080 or scuddington@cmif.org. D Elect all the following nominees or D Elect only those nominees indicated below For Re-election to the Board Class of 2010 __ __ __ __ __ Elizabeth Cherin, President & CEO, Fremont Area Community Foundation, Fremont John Colina, President, Colina Foundation, Southgate Wesley H. Maurer Jr., Chairman, Mackinac Island Community Foundation, Mackinac Island Daniel J. Wyant, President, Edward Lowe Foundation, Cassopolis Betsy Upton Stover, Associate Trustee, FrederickS. Upton Foundation, Benton Harbor New Nominees to the Board Class of 2010 (bios provided on the reverse side of this ballot) __ __ __ __ __ Susan Broman, Executive Director, Steelcase Foundation, Grand Rapids Caroline E. Chambers, President, Comerica Charitable Foundation, Detroit Thomas B. Cook, Executive Director Cook Family Foundation, Owosso Carol Paine-McGovern, President, Paine Family Foundation, Manistee Tom Porter, President, Porter Family Foundation, Ann Arbor CMF Member Organization Name Title �New Nominees for the Board of Trustees Susan Broman, Executive Director - S teelcase Foundation Based in Grand Rapids, Susan manages the growth, grant allocations and genera l direction of the Steelcase Foundation, with grantmaking targeted to Steelcase communities across the United States and Canada. Susan 's involvement with CMF includes service on the Board of the Michigan AIDS Fund, and with an Annual Conference Committee, the Finance Committee and currently the Public Policy Committee. Her community leadership includes the Kent County Family and Children's Coordinating Council, the Resource Allocators Consortium, Delta Strategy, the Grand Rapids Education Reform Initiative, Michigan's C hildren, Kent County Great Start Collaborative, Early Childhood Investment Corporation, Nonprofit Technical Assistance Fund and Expanded Learning Opportuni ties. Caroline E. Chambe rs, President - Comerica C hari table Foundation Caroline manages the daily operations of the Comerica Incorporated Contributions Program and the Comerica Charitable Foundation which focus on community needs such as Economic Development in locations like Detroit where Comerica has a strong business presence. She has served on the planning committees for Detroit Area Grantmakers and the Annual Conference for CMF. Her current community leadership includes the board of directors for Elder Law Michigan, Communities in Schools-Detroit a nd Covenant House Detroit Life Skills Center as well as the United Way of Southeastern Michigan 2-1-1 and Community Impact Steering Committees. She is a mentor in the company's national mentoring program and serves as Chairperson of the Comerica African American Network. Thomas B. Cook, E xecutive Director - Cook Family Foundation Based in Owosso, the Cook Family Foundation supports community institutions in Shiawassee County with emphasis on youth, education and the environment. Executive Director since 1999, Tom is on the CMF Family Foundation Advisory Committee, the Be Ready B y Five task force on early childhood education and has served on an Annual Conference Committee. Tom's community leadership includes serving as trustee of The Nature Conservancy in Michigan and Chair of the Shiawassee Great Start Collaborative on early childhood development. In 2006 he was recognized as the Humanitarian of the Year by Memorial Healthcare in Owosso. Tom is married to Anna Owens, and they have two children in the Owosso Public Schools. Carol Paine-McGove rn, Preside nt- Paine Family Foundation The Paine Family Foundation serves Mason and Manistee Counties. She is active on the following CMF Committees: Public Policy, Early Matters, Be Ready By Five and has worked on three Annual Conferences and Family Foundation Retreats. Caro l is the Chair of the Kent County Family and Children's Coordinati ng Council, very involved with the Early Childhood Initiative in Kent County, and is a board member of Leadership G rand Rapids and the East Grand Rapids Community Foundation. Carol and her husband Terry have a 20 year old daughter and live in East Grand Rapids. Thomas S. Porter, Preside nt- Porter Family Foundation Based in Ann Arbor, the Porter Family Foundation has a primary focus on environmental grantmaking. Tom is a member ofCMF's Funders Group on Michigan's Economy and has spoken at an Annual Conference. His community leadership includes serving on the Board of the Michigan Environmental Council. A General Partner for Tri llium Ventures, Tom is Executive in Residence at the Ross School of Business at the University of Michigan where he has taught for the past 14 years. Active in assisting universities and research institutions in the commercialization of technology ("technology transfer"), he serves as Co-Cha irman of the Michigan University Commercialization Initiative (MUCI). He has also been a Mentor for the Kauffman Foundation's Venture Capital Fellows Program. Current Board of Trustees by C lass Class of 2008 Melanie B. Colaianne, President David 0. Egner, President Russell L. Gabier, Secretary/Trustee Phillip H. Peters, V.P. Admin & Sec./Treasurer Diana R. Sieger, President Gerald K. Smith, President & CEO Margaret E. Thompson, Trustee Christian A. Velasquez, Trustee Lloyd J. Yeo, President MASCO Corporation Foundation Hudson-Webber Foundation Irving S. Gilmore Foundation C harles Stewart Matt Foundation Grand Rapids Community Foundation Detro it Youth Foundation Harry A. and Margaret D. Towsley Foundation Midland Area Community Foundation Wickson-Link Memorial Foundation Taylor Detroit Kalamazoo Flint Grand Rapids Detroit Midland M idland Saginaw Class of 2009 RobertS. Collier, President Rev. J. Louis Felton, Trustee Allan D. Gilmour, Trustee Carol A. Goss, President & CEO Rachel Mraz, Trustee David K. Page, Trustee David S. Sebastian, Trustee Sterling K. Speirn, President & CEO Amanda Van Dusen, Senior Principal Council of Michigan Foundations Kalamazoo Community Foundation Community Foundation for Southeast Michigan The Skillman Foundation Eileen and Brian DeVries Family Foundation The Jewish Fund The Sebastian Foundation W.K. Kellogg Foundation Miller, Canfield, Paddock and Stone,PLC Grand Haven Kalamazoo Detroit Detroit Grand Rapids Detroit Grand Rapids Battle Creek Detroit � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Board-Ballot Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book board ballot Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book board ballot. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50695 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/01bb936df59544ef7ebd1f44c6e470f1.pdf 19ea4e3036bd470edb732144c9906cd0 PDF Text Text CMF Council of Michigan Foundations Serving grantmakers. Advancing giving. October 13, 2007 To: Diana Sieger, Chairperson & Members of the Board of Trustees From: Melanie Colaianne, Allan Gilmour & Gerald Smith- Annual Conference Co- Chairs Vicki Rosenberg, Vice President, Education, Communication, & External Relations Re: Transforming Michigan ....L eading, Innovating, Collaborating 351h CMF Annual Conference Update As the Board meets on Monday afternoon, October 22, Conference participants will be engaged in five site visits to the Eastern Market, the Detroit Riverfront, Youth Ville, Presbyterian Village and Odd Fellows Hall. And there is more- special sessions at the Hyatt will include: A Guide to Using Theory of Change Models, and Culturally Sensitive Communications Done Right. Conference participants will have already heard from internationally known plenary speakers: Ron Heifetz, Sir Ken Robinson, and Henry Louis Gates, Jr. and will be looking forward Monday evening to a sensory feast at the National Arab American Museum featuring the best cuisine, music and art the Arab-American community in our host city of Dearborn has to offer. By the time we meet, you will all have received a copy of the Conference Program, featuring more than 44 sessions. But we summarize here just some of the highlights that make this Conference unique: • • • • • • Shaping the Next Generation of Governance with Linda Compton, new president of BoardSourcethe nation's premier resource on nonprofit governance, Revealing the first ever county by county Transfer of Wealth Analysis completed in Michigan, Electronic Voting on Transforming Michigan at every plenary session, Recognizing the Mawby Award and Community Philanthropy Award recipients as Honorary Chairs -see attached, A Michigan filmed PBS documentary film project on Play, and The debut of Joel Orosz' new book, Effective Foundation Management: 14 Challenges of Philanthropic Leadership- And How to Outfox Them, which you are each receiving a copy at the Conference. In fact with more distinguished authors this year than ever, we strongly recommend a visit to the Conference bookstore in Resource Central. This Conference would not be possible without the financial investment of sponsors, member supporters and exhibitors. We ask you to please thank them w ith us. They are all listed in the Program and on key signage. And more than 30 members have joined us on the Conference Committee and willingly volunteered their time and resources. They each have a special ribbon, so please give them your thanks as well. Since the Registration brochure was mailed, we have sent: four E-Promos, five targeted E-Promos, extended the early bird registration deadline, sent letters to Trustees willing to reach out to Trustees, and more. An example is attached, and promotion continues this week. We are promoting plenary tickets for the first time ever, recognizing that we have some members and non-members who cannot give up a full day or three days to join us. We will have final registration numbers to share at the Board meeting, and are confident that we will exceed 600 over the three days. �35th Annual Conference Promotion Summary 3S'h Annual Conference Save the Date notepads and pens handed out at 34'11 Annual Conference Save the Date Pos tcard Memo to Members/Family Philallthropist Summer 2007- feature stories on keynotes and other key sessions Registration Brochure Conference \Ve b site live- with branded ad on cmif.org C onfer ence E-Promo # I -Keynotes August E-News - promo sidebar, President's update text Listser v me mo o n Community Foundation/Youth Grantmaker offerings C onfer ence E-Promo #2 - 10 Authors and a Gamer September E-News- promo sidebar, President's update text C onfer ence E- Promo #3 - Crompton, Site sessions C onfer ence E-Promo #4 - Arab American National Museum Evening Fun Targeted E- promos o Family Foundations o Trustees o Michigan Forum for Athcan American Philanthropy o Communications o Arts Letters to Trustees willing to outreach to: o Professional Advisors o Law firms Final Registration Deadline E-promo/Biast Fax � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Conference-Committee-Report Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book conference committee report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book conference committee report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50696 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/8530c2a2d0b75e04fd2d1460e72186a2.pdf a3f3cf215418208362bf3ab8573a78d3 PDF Text Text Diversity in Philanthropy Proj ect Project Description The Diversity in Philanthropy Project is a voluntary effort of over 30 leading foundation trustees, senior staff and executives committed to increasing field-wide diversity through open dialogue and strategic action. We believe that diversifying perspectives, talent and experience can help ensure philanthropy's continued leadership i n a rapidly changing society. Therefore, building on philanthropy's best traditions and aspirations, we're working together to develop a new, field-wide agenda for diversity. Launched as a two-year initiative (2007-2009), this project seeks to expand diversity, equity and inclusion in board and staff representation, grant making and contracting. Our Priorities Following are the core activities and strategies that we seek to promote: o o o Voluntary peer-support o Encouraging collaboration between field-wide leaders to realize the benefits of a more diverse sector. Transparent and actionable data o Partnering with supporting organizations to track and report field-wide diversity performance, and share new research and knowledge. Tools, best practices and talent o Creating a long-term resource for accessing learning models, best practices and talent banks of diverse board and staff candidates, advisors and contractors. Our Supporters The Diversity In Philanthropy Project receives funding and other support from the following grant making institutions and philanthropic leadership networks: o o o o o o o o o o o o o o o o o o o o o o o o o o o The California Endowment The California Wellness Foundation Annie E. Casey Foundation Marguerite Casey Foundation Chicago Community Trust Council on Foundations Dade Community Foundation Donors Forum of Chicago Ford Foundation Forum of Regional Associations of Grantmakers Lloyd A. Fry Foundation The Foundation Center Wallace Alexander Gerbode Foundation Hea lthcare Georgia Foundation William & Flora Hewlett Foundation Humboldt Area Foundation The James Irvi ne Foundation Robert Wood Johnson Foundation W. K. Kellogg Foundation Montana Community Foundation C. S. Matt Foundation Native Americans in Philanthropy Needmor Fund Jessie Smith Noyes Foundation David & Luci le Packard Foundation Philanthropy Northwest Prudential Foundation �Diversity in Philanthropy Proj ect o o o o o o Z. Smith Reynolds Foundation Rockefeller Brothers Fund Rockefeller Philanthropy Advisors The Russell Family Foundation Rosenberg Foundation San Francisco Foundation Testimonials " Diversity is not a burden to be carried or a problem to be solved; it is the best hope we have for our future as a strong, resilient and worthy nation. By building on our diverse assets, organized philanthropy can be the architect for strategic investments that promote the common good." Steve Gunderson President Council on Foundations " Investing in diversity is one of the most important ways to increase organized philanthropy' s impacts. The preponderance of research shows that when diverse communities own efforts to create change, the outcomes always improve." Peter H. Pennekamp Executive Director Humboldt Area Foundation " When philanthropic institutions embrace the diversity that increasingly defines our civic culture, they expand their access to new ideas, talents and resources that in turn enhance their reach and results." Gary D. Nelson President Healthcare Georgia Foundation " Organized philanthropy achieves its highest purposes and its most significant work when it is guided by openness, inclusiveness, accessibility, ethical conduct and sensitivity to society's growing diversity." Valerie S. Lies President Donors Forum of Chicago " By recognizing the inherent relationship between diversity and institutional effectiveness, foundations of all kinds can honor and advance private philanthropy' s most exciting inclinations and potential." Joy A. Persall Executive Director Native Americans in Philanthropy " Bringing forward the best available analysis and leadership to advance the important work of the independent sector is what promoti ng diversity in foundations is all about." Cole Wilbur Trustee David & Lucile Packard Foundation �Henry A. J. Ramos is principal of Mauer Kunst Consulting, a New York-based private consulting group that specializes in strategic planning, project management, program development, organizational assessment!TA and research activities targeted to businesses, foundations and nonprofit institutions. His current and past clients include: The California Endowment; The California Wellness Foundation; Carnegie Corporation of New York; the Marguerite Casey Foundation; the Council on Foundations; Healthcare Georgia Foundation; Ford Foundation; Levi Strauss & Co.; theW. K. Kellogg Foundation; the Charles Stewart Matt Foundation; Nike, Inc.; Open Society Institute; The David & Lucile Packard Foundation; Union Bank of California; Univision; and Youth Law Center. In recent years, Ramos has written extensively on various issues related to organized philanthropy and civil society, and his work and opinions have been quoted in leading national publications including The New York Times, The Los Angeles Times, The Washington Post, The Chronicle of Philanthropy, Crain's New York Business and The Nonprofit Quarterly. Currently he serves as executive editor of the University of Houston Arte Publico Press Hispanic civil rights history series-a multi-volume collection of books supported by funders including the James Irvine Foundation, the Ewing Marion Kauffman Foundation, the Charles Stewart Matt Foundation and the Rockefeller Foundation. Ramos is a graduate of the University of California at Berkeley and Harvard University, where he earned degrees in political economics, law and public administration. He is founding editor of the Harvard Journal of Hispanic Policy, a former Robert Bosch Foundation fellow in Germany, and a past member of the professional staffs of the Ford Foundation and the James Irvine Foundation. Ramos has also served as a board member and treasurer of Hispanics in Philanthropy, the nation's largest organization of foundation trustees and executives committed to addressing Hispanic issues and causes. In recent years he has sat on the governing and advisory boards of leading national and international organizations including the Romare Bearden Foundation, the Diego Rivera Foundation, the Asian American Justice Center, the New York Immigration Coalition and Partners for Democratic Change. Ramos presently serves as the Diversity in Philanthropy Project's director and lead consultant. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Diversity-in-Philanthropy Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book diversity in philanthropy Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book diversity in philanthropy. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50697 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/02c4c1419ecdc183d8dce1cd8dbe76ca.pdf 66669f680ee42b782d7901d90ca7672b PDF Text Text CMF Council of Michigan Foundations Date: October 15, 2007 Memo to: Diana Sieger, Chairperson, and Members of the Board of Trustees From: Phillip H. Peters, Treasurer and Audit Committee Chair RE: Financial Statements for the Period Ending 8/31/07 Serving grantmakers. Advancing giving. One South Harbor Avenue · P.O. Box 599 · Grand Haven. Ml 49417 (616) 842-7080 · FAX (6 16) 842-1760 · cmf@cmif.org · www.cmif.org The following Resolution is presented for consideration: RESOLVED that the CMF Board of Trustees accept the 8-31-07 internal financial statements as recommended by the CMF Audit Committee. On October 9, 2007, the CMF Audit Committee met and approved the attached financial report. Core Operations Note 1: Conference Income The variance from the YTD Budget is due to the timing of payments received for annual conference sponsorship. Sponsor and exhibitor commitments to date for the Annual Conference. Soonsors: Dorothy Johnson Educational Fund W.K. Kellogg Foundation Comerica Charitable Foundation Comerica Charitable Foundation - Speaker support Merrill Lynch DTE Energy Foundation MASCO Corporation Foundation JP Morgan/Chase National City/Allegiant Fund Evaluation Group Ford Motor Company Fund Ruth Mott Foundation $46,200 25,000 15,000 5,000 15,000 10,000 10,000 10,000 5,000 5,000 5,000 5,000 S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\Treasurer's Report 8-3 I -07.doc �Plante & Moran Munder Capital Management Chemical Bank Clark Hill Williams Group Exhibitors: IPEX UBS Financial Services Micro Edge Advance Capital Management Smith Barney Citigroup Plante & Moran Fund Evaluation Group Total (Budget $220,000) 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 1,250 1,250 500 $181,700 Note 2: Investment Income The variance is due to investment earning off special project dollars, primarily the Kellogg Foundation grant for the Early Childhood Investment Corporation. Note 3: Technology The variance from budget is primarily due to invoicing that has not been received for the database/web software that will hit later this year. See attached detail. Communications/Publications The variance from budget is primarily due to the timing of proj ects that should get under way later this year. See attached detail. S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Material s\Treasurer's Report 8-31-07.doc �Professional Services Actual 2007-08 Line Item Newsclip Service Public Affairs Legal - Clark Hill Legal - Miller Canfield Audit Fees Strategic Planning Rapaport Mise Ulsh - Corp. Members Study Mercer Compensation Study 4/1/2007 8/31 /2007 3,700 18,000 10,000 1,471 7,500 4 ,000 4 ,500 2,500 5,050 276 300 39,000 2,255 147 20,699 William Allen Fund Training & Seminars Foundations on the Hill registrations for members March 2007 $2,625 Meetings I ZIP to ZIP District Match File $9oo I Russell G. Mawby Fund Grant Income Fetzer Institute grant of $ 10,000 for the StoryCorps project. S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\Treasurer's Report 8-31-07.doc �Association Dues & Sponsorships MNA Sponsorship SuperConference Michigan Women' s Foundation Sponsorship Governor' s Service Award Sponsorship Connect Michigan Volunteerism National Center for Family Philanthropy AFP National Phil Day 2007 IS JW Gardner Award sponsorship MNA Nonprofit Day sponsorship $1,000 1,500 2,500 500 3,600 500 1,000 500 Professional Services I StoryCorps 4,ooo I Meetings I Members Reception Flint 5-22-07 $3,026 I Ruth & Russ Mawby Fund for Kids This fund supports the YAC smmner intern and Youth Program Associate. CFYP Endowment Fun This fund supports YAC activities. Conference Income & Expenses Summer Youth Conference June 2007 Line Item Revenue Expenses Net Loss Bud!!et Actual $20,100 48,000 ($27,900) $18,650 37,726 ($19,076) Covers youth administrative support. S:\Boards and Committees\C MF\Board\2007-08\ 10.22.07 Meeting Material s\Treasurer's Report 8-31-07.doc �Dorothy Johnson Educational Fund Other Grant Support for the CMF Annual Conference in October 2007. [Riecker Leadership Fund The variance from budget is due to the two week overlap for the departing and incoming fellows. William Richardson Endowment Fund 20% of the fellow's wages are being charged to this grant with the other 80% going to the Riecker Fund. Professional Services The work on the L3C and Senator Levin Hedge Fund issues has been charged to this fund. S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\Treasurer's Report 8-31-07.doc �Council of Michigan Foundations & Supporting Organizations Consolidated Balance Sheet August 31, 2007 II CMF Core & Spec ial Projects ASSETS Cash & Equivalents Investments Grants Receivable Due From Other Funds Property, Plant & Equipment - Net Other Assets Total Assets LIAB ILITIES Accounts Payable Grants Liabilities Deferred Liabilities Total Liabilities NET ASSETS (FUND BALANCE) Unrestricted & Tern p Restrict. Endowment Funds KYIP Fund Total Net Assets Total Liabilities & Net Assets S:\Finance\Finandat Statements\07-08\CMF FS 8-31..07 $9,391,548 5,851 ,815 (7,867,512) 422,470 37,110 $7,835,431 $1 ,319,128 7,200 46,682 1,373,010 Endowment Funds $19,501 18,226,485 (428,326) $17,817,660 Supporting Organizations Michigan AIDS MCFV LTG Fund $7,410,049 $15,779 $3,365,922 7,226,366 18,368 1,255,997 $14 ,654,783 $4,637,698 $633,448 254,882 (186,525) 15,845 7,346 $724,996 $ 0 6,462,421 0 0 2,106 29,000 110,000 141,106 7,527,390 4,637,698 583,890 Total $17,470,325 21 ,592,407 6,106,697 0 456,683 44,456 $45,670,568 $1,321 ,234 36,200 156,682 1,514,116 6,462,421 17,817,660 7,127,393 14,654,783 4 ,637,698 583,890 19,211,399 17,817,660 7,127,393 44, 156,452 $7,835,431 $17,817,660 $14,654,783 $4,637,698 $724,996 $45,670,568 17,817,660 �Counc il of Mic higan Foundatio ns & Supporting Organizations Co ns olidat ed Statem ent of Activities and Changes in Net Asset s 4-1-07 to 8-31-07 II Council of Michigan Foundations Supporting Organizations Michigan A IDS MCFV LTG Fun d CMF Core Services Revenues Spendable Income Membership Investment Additional Member Contributions Other Grants Conference Income Publications Other Income Investment Income Total Revenues Program/Admi n Expenses Wages & Benefits Occupancy Telephone Equipment Lease & Maintenance Postage Supplies Insurance Equipment & Furniture Depreciation Technology Dues & Sponsorship Books & Subscriptions Communications!Pubtications Professional Services Travel Training & Seminars Conference & Meeting (GainVLoss sate of fixed assets Overhead Allocation to Spec Proj Total Program!Admin Special Projects $0 885,250 $0 Endowment Funds $643,000 234,547 485,297 74,177 74,188 9,695 239,457 636,014 55,941 6,2 59 1,151 9,426 16,312 4 ,178 32,318 37,477 7,200 4 79 26 20 1,425 183 747 1,425 107,460 12,892 2,915 883 589 4,865 1,425 813,269 76,033 9 ,653 2,034 10,224 21,944 8,453 375 11,875 2,362 20,566 7,297 5,535 42,512 26,440 39,786 1,268 32,184 125,849 40 ,243 11 ,205 128,579 400 1,264 884 36 1,045 61 ,160 4,131 14 0 12,025 41,052 39,786 1,268 33,629 355,81 4 46,317 11 ,365 140 ,883 231,535 226,466 (542 1,134,293 203,027 542 62,512 21 1.892 1,611 ,724 1,409,318 1,409,31 8 46 ,200 46 ,200 1,455,518 1.455,518 4,260,654 4,260.654 595,500 595,500 53,000 53,000 6 ,364,672 6,364,672 115,579 253 ,280 13,434 1,200 59,456 6,587 1,399, 119 122 ,166 411,865 27,64 1 87,051 28,300 210 5 ,518 18,400 15,558 350,689 1,02 7,647 137,098 531 1,15 1 9,273 15,400 4,178 406 0 144 506 $643,000 885,250 165,560 136,518 271 ,680 13,434 16,758 4 16,732 2 .548,932 Combined Total $643,000 885,250 165,560 617,D30 271,680 13,445 16,758 735,151 2 ,704,874 165,560 20 ,939 CMF Total s s 2 50,750 229,762 11 0 14,488 10,820 27,39 1 1, 188 1,295 35 2,650 84 ,584 9 ,458 1,920 4,797 0 29,534 20 ,699 23,488 3 ,750 81 ,270 0 !542) 676,292 1,13 2 11 ,100 45 167.541 1,059 20 24 3 GRANTS Challenge Grants Mini· Gra nts Computer Grants Other Grants Total Grants Excess Revenues Over Expenditures Beginning Net Assets T ransfer from MCFV Cha nge in Net Assets Ending Net Assets $ V'.,..,c.IF.,aftt.... S'-ee1010NII'Gt.IF FS 1 ·)1.07 722,827 1,815,112 (600,000) 722,827 $1,937,939 (1 ,518,687) 6 ,043,169 ! 1,518,687) $4,524 ,482 754,981 17,105,679 600,000 111 ,981 $17,817,660 (40 ,879) 24 ,963,960 (683,879 24,280,081 (3,978,384) 18,633,167 (583,824) 5 ,221,522 !3,978,384) !583,824) $14,654,783 $4,637,698 (25,435) (4,6 28,522) 609,325 49,427,974 !25,4 35) $583,890 (5,271,522 $44,156 ,452 �CMF Endowment Fu nds Consolidated Statement of Act ivities and Cha nges in Net Assets 4 -1-07 to 8-31..07 Endowment Funds Russe ll G. Johns o n Allen Maw by M aw by Fund Educational Fu nd Fund For Kids Fund Rev enues Spendable Income Membership Investment Additional Member Contributions 8,300 $ 67.900 $ 38,800 $ 46 ,200 Community Foundati on E ndowment MCFYP R iecke r h chnology Ric hardson Public Invest. Endowment Fund Fu nd Policy Education ' ' 330,400 Comm Fdn 52.300 ' 52,700 ' 22.600 ' 21,000 Re itz ' 2.600 12 Month CMF Core ' Budget ~ To tal 643.000 643,000 18,400 81,400 Other Grants 11.300 (250) Conference Income 18.650 Publications 15,558 Other Income 4 ,054 12,354 Investment Income Total Revenues Program(A dmin Expenses wages & Benefits Occupancy TelephOne Equipment l ease & Maintenance Postage Supplies Ins urance Equipment & Furniture Depreciation TechnolOgy Dues & Spons orship Books & Subscriptions 34,929 102,829 19.950 58.750 "' 16,636 16 23,373 69.573 88 26.926 180,451 526,159 97.876 27,589 80,289 92, 167 4.098 20.010 11.096 16,826 2.11 2 3,383 15.558 350.689 33.896 37,826 4,712 3 ,383 1.027.647 735,700 137.098 340,000 531 531 2,000 144 200 144 506 2, 100 26 4, 167 176 1,132 1.132 11.100 45 11.1 00 45 Comm unicaUonsiPublications Professional Services 4,000 Tral'ef Training & Seminars Conference & Meeting 1,668 (862) 10,427 1,579 2,021 1,565 (105) 2,625 900 Total Program/Ad min 3,541 3,026 19,8 14 17,441 G RA NTS Challenge Grants Mini-Grants Computer Grants Other G rants 108,082 1,773 89 530 37.726 42.5 14 1,940 815 721 2 3,662 1.773 5,228 20,566 244 7,297 5.535 42,512 9,6 39 226.466 800 12, 100 7 ,100 600 26,300 113,000 29,600 14,900 132,200 680,700 1,700 46,200 46,200 Total G rants 46 ,200 46 ,200 Excess Re.,enoes O l'er Expenditures 8,8 13 83.0 15 41 .309 23.373 4 18,077 55.362 56,627 32.12 3 28 ,187 4.712 Beginning Net A sset s Transfer from Other Funds Ex cess Revenues over Expenditures Ending Net Assets 2 12,485 1,819,686 1,044 ,771 1,207,662 8.877,491 1,425.335 1.436,583 568,371 456,336 56.959 513 $2 12,998 15,11 5 $ 1,834,801 2.509 $ 1.047,280 87,677 $8.965,168 3,062 $ 1,428.397 3,927 $ 1,440,510 9.323 $577,694 7,187 $463,523 2.112 $59.071 S :\F inance\Finandat Statements\07-08\CM F FS 8 -31-07 (22 ~27) $1.184.835 3 ,383 55.000 754.981 17,105.679 600,000 3 ,383 $603,383 53,300 17, 105,679 600,000 111 ,981 17.817.660 ~ �Council of Michigan Foundations Core Services Internal Statement of Activities 4-1-07 to 8-31-07 12 Month Budget 2007-08 Revenues Membership Investment Additional Member Contributions Other Grants Conference & Meetings Publications Other Income Investment Earnings Total Revenues Program/Admin Expenses Wages & Benefits Occupancy Telephone Equipment Lease & Maintenance Postage Supplies Insurance Equipment & Furniture Depreciation Technology Dues & Sponsorship Books & Subscriptions Communications/Publications Professional Services Travel T raining & Seminars Conference & Meetings (Gain)/Loss Sale of Fixed Assets Overhead Allocation to Spec Projects Total Program/Admin 5 Month Budget 8/31 /2007 $ 1,002,000 190,000 25,000 657,000 24,000 6,000 105,000 2,009,000 $ 5 Month Actual 8/31 /2007 722,000 186,000 25,000 190,000 10,000 500 43,800 1 ' 177,300 $ 885,250 165,560 20,939 253,280 13,434 1,200 59,456 1,399,119 1,000,000 68,000 17,000 4 ,000 25,000 30,000 6,000 416,800 28,400 7,200 1,800 10,600 12,500 6,000 411 ,865 27,641 5,518 1' 151 9,273 15,400 4,178 75,000 32,000 6,000 104,000 39,000 57,000 13,000 537,000 31,200 27,300 2,600 43,500 19,000 23,800 5,400 150,200 14,488 27,391 1' 188 29,534 20,699 23,488 3,750 81 ,270 (4,000) 2,009,000 (1 ,700) 784,600 (542) 676,292 Grants Challenge Grants Mini-Grants Computer Grants Other Grants Total Grants 0 0 0 Excess Revenues Over Expenditures 0 392,700 722,827 Beginning Net Assets Excess Rev over Exp. Transfer to Core Endowment Ending Net Assets S:\Finance\Financial Statements\07-08\CMF FS 8-31..07 1,815,112 0 1,815,112 1,815,112 392,700 (600,000) 1,607,812 1,815,112 722,827 (600,000) $1 ,937,939 Note 1 Note 2 Note 3 Note 4 Note 5 Note 6 �CMF Council of Michi an Foun~ations Serving grantmakers. Advancing giving. October 15, 2007 Memo to: Diana Sieger, Chairperson, and Members of the Board of Trustees From: Rachel Mraz, CMF Trustee and Investment Committee Member and David R. Lindberg, Vice President Finance & Administration Re: June 30, 2007, Investment Report The following Resolution is presented fo r consideration: RESOLVED that the June 30,2007, Investment Report be accepted, as recommended by the CMF Investment Committee. On a quarterly basis, the combined Investment Committee for the Council of Michigan Foundations (CMF), Midwest Community Foundations' Ventures (MCFV), Learning to Give (LTG) and the Michigan AIDS Fund (MAF), meet to review the investment performance for the operating and permanent endowment funds. New Business On September 27, 2007, the Investment Committee met to review and approve the enclosed reports. Since the May 22, 2007, CMF Board meeting the Investment Committee has addressed the follow items: • • • • Invested 25% of the CMF Endowment Pool in the TIFF Multi-Asset Fund (See asset allocation below). Committed $500,000 to the Commonfund Capital Partners IV fund which focu ses on U.S. & International Private Equity, Global Venture Capital and Natural Resources. Committed $500,000 to the Commonfund Capital Private Equity Partners VII fund, a U.S. focused, multi-manger private equity fund. Is in the process of looking for alternative REIT fund investments. TIFF Multi-Asset Fund was selected as a way to access alternative investments that would not be available to a fund the size of the CMF Endowment Pool. This fund has a strong performance track record over the last ten years. Cate!!orv Stocks- U.S. & International Fixed Income Real Estate Absolute Return Commodities Allocation 58.6% 17.5% .7% 19.4% 3.8% �Investment Report Page 2 With the addition of the TIFF and Commonfund products, the CMF Endowment Pool now has a standard allocation pool and an alternative pool. The standard allocation pool is rebalanced on a quarterly basis back to the targeted asset allocation noted in the attached report. The combined allocation of the standard and alternative allocation pools will be monitored on a quarterly basis by the Investment Committee with adjustments between the two pools being made as the committee deems appropriate. The combined investment return for the CMF Standard and Alternative Pools will be calculated as the various periods become available. The enclosed Investment Report is presented in two sections. Investment Performance Report & Asset Allocation The benchmark is based on the targeted asset allocation noted in the attached report using the following return information: Asset Class S&P 500 S&P 400 S&P 600 EAFE FTSE NAREIT Equity Index Lehman Bros . Aggregate Allocation 37.0% 9.0% 6.0% 13.0% 5.0% 30.0% Investment Performance Comparison Report In addition to the Cambridge & Associates, Inc. pool of colleges, universities, and foundations, the committee has recently added the TIFF Multi-Asset fund for comparative purposes. The TIFF product is unique in the fact that it offers smaller foundations access to alternative investment products which have enhanced returns over the last several years. The reason this report lags the CMF Investment Report by one quarter is due to the time it takes Cambridge to collect the results from the pool participants. S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\Investment Report 6-3007.doc �Council of Michigan Foundations Investment Report June 30, 2007 Investment Balance 6-30-07 Actual Asset Allocation Cas h Targeted Ass et Allocation Cas h Operating Funds CMF Operating & Special Project s $3,994,676 100% 100% MCFV Special Projects $2,002,823 100% 100% KYIP Fund $7,371,828 100% 100% Michigan AIDS Fund $406,909 100% 100% Learning to Giv e $886,838 100% 100% Note: All operating funds are invested in money market accounts. CMF Combined Endowment Pool -Asset Mix Market Value Equities Fixed Income Real Estate Alternatives Cash Total $11,708,627 5,047,509 625,652 1 ,003,513 (420,367) 17,964,934 % 65.2% 28. 1% 3.5% 5.6% -2.3% 100% Endowment Pool Compound Annual Rate of Return One Year Three Year Five Year 10 Year Actual Investment Return N/A N/A N/A N/A Blended Benchmark N/A N/A N/A N/A The CMF Endowment Pool has been broken down into two separate pools, a standard pool and an alternative pool. The asset mix listed above represents the combination of both pools. S:\Boards and Committees\CMF\Board\2007-08\10.22.07 Meeting Materials\lnvest Report 6-30-07 �Council of Michigan Foundations Investment Report June 30, 2007 CMF Standard Endowment Pool- Asset Mix Market Value LargeCap MidCap SmaiiCap International Real Estate Equity Trust Total Equities $5,287,297 1,290,445 839,848 1,756,302 595,374 9,769,266 Cash Equivalents Short Bond Fund Bond Fund High Yield Bond Total Cash & Fixed Income Grand Total (423,367) 1,835,633 1,763,648 691 ,268 3,867,182 $ 13,636,448 Actual % Target % 38.8% 9.5% 6.2% 12.9% 4.4% 72% 37% 9% 6% 13% 5% 70% -3.1% 13.5% 12.9% 5.1% 28% 0% 13% 13% 5% 30% 100% 100% Standard Endowment Pool Compound Annual Rate of Return One Year Three Year Five Year 10 Year Actual Investment Return 16.28% 12.09% 11 .29% 8.17% Blended Benchmark 16.14% 11 .64% 10.62% 7.91 % S:\Boards and Committees\CMF\Board\2007-08\10.22.07 Meeting Materials\lnvest Report 6-30-07 �Learning to Give Investment Report June 30, 2007 LTG Endowment Fund -Asset Mix Market Value LargeCap MidCap SmaiiCap International Real Estate Equity Trust Total Equities $1 ,305,489 317,846 208,151 499,450 150,327 2,481 ,263 Cash Equivalents Short Bond Fund Bond Fund High Yield Bond Total Cash & Fixed Income Grand Total Actual % (136, 130) 386,838 387,493 163,678 801 ,879 $ 3,283,142 Target % 39.8% 9.7% 6.3% 15.2% 4.6% 76% 37% 9% 6% 13% 5% 70% -4.1 % 11.8% 11.8% 5.0% 24% 0% 13% 13% 5% 30% 100% 100% Endowment Pool Compound Annual Rate of Return One Year Three Year Five Year 10Year Actual Investment Return 16.71 % N/A N/A N/A Lipper Median Benchmark 16.14% N/A N/A N/A Investment of this new endowment fund took place in May 2006 This fund was established with a $3,000,000 grant from the W.K. Kellogg Foundation S:\Boards and Committees\CMF\Board\2007-08\ 10.22.07 Meeting Materials\lnvest Report 6-30-07 �Council of Michigan Foundations Investment Performance Comparison 3/31 /2007 Actual Returns Period Ending Quarter Blended Benchmark 2.09% CMF Cambridge Pooled Pool Funds (Median) 2.06% 2.70% TIFF Multi Asset 3.09% One Year 11.14% 10.96% 12.30% 13.80% Three Years 10.47% 10.57% 12.10% 14.00% Five Years 8.77% 8.98% 10.20% 12.39% Ten Years 8.84% 8.95% 10.00% 8.88% Period Ending One Yr Three Yrs 11.4% 11.1% 1 1.8% 10.1% 13.3% 8.2% 6.6% 3.3% 19.8% 20.2% 2.8% 3.1% Five Yrs 7.8% 6.3% 12.1% 5.4% 15.8% 2.8% Bench Marks W ilshire 5000 S&P 500 Russell 2500 LB Aggregate MSCI EAFE CPI-U Qtr Ending 1.5% 0.6% 3.6% 1.5% 4.1% 1.8% Asset Categories Cambridge Pool US Equities International Equities Fixed Income (less high yield) Cash Other Total Other· Detail Real Estate Hedge Funds Distressed Securities Arbitrage Venture Capital Private Equity Oil & Gas Partnerships High Yield Bonds Absolute Return Commodities Other 29.0% 21.6% 16.0% 3.7% 29.7% 100.0% Asset Allocation CMF Target 52.0% 13.0% 25.0% TIFF Multi Asset 60.2% Includes Inti & Resource 13.5% 10.0% 100.0% 26.3% 100.0% 5.0% 0.3% 5.0% 2.4% 20.2% 3.4% 10.0% 26.3% 4.3% 11.0% 1.1% 5.0% 1.3% 2.7% 0.9% 0.2% 3.2% 29.7% Ten Yrs 8.8% 8.2% 12.0% 6.5% 8.3% 2.5% • Represents the latest return numbers available from Cambridge & TIFF. S:\Boards and Committees\CMF\Board\2007-08\10.22.07 Meeting Materials\lnvest Report 6-30-07 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Financials Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book financials Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book financials. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50698 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/a47872186c0d9c032de52fc85d449c0a.pdf e09996bfcb75f35e2f9122b17157c970 PDF Text Text CMF Council of Michigan Fou ncfations Serving grantmakers. Advancing giving. October 10, 2007 To: Diana Sieger, Chairperson and Members of the Board ofTrustees From: Carol Goss, Chairperson, Governance Committee cc: Rob Collier, President Re: Report of the Governance Committee- Action Requested The Governance Committee met by conference call on September 7 and October 2 for three purposes: • • • To present Trustees for the Class of2010 for election by the membership, including five new Trustees, To present a slate of officers to the Board at the October 22 Board Meeting, and To discuss the Board Development section of the October 22 Agenda The Governance Committee looks forward to discussing the results of our work and the following recommended Resolutions with you at the Board Meeting. I. Class of 201 0 and Retiring Trustees RESOLVED that the actions of the Committee on the Class of2010, as detailed below, be accepted, and RESOLVED further that the Board of Trustees of the Council of Michigan Foundations (CMF) extends its appreciation to Julie Fisher Cummings, Trustee, Max M. and Marjorie S. Fisher Foundation, for her nine plus years of dedicated service as a Trustee of CMF, including: her leadership as Chair of the Board of Trustees, development of the C ultural Competency Plan and Organizational Analysis, implementation of Guiding Principles as a condition of membership in CMF, chairing the Family Philanthropy Committee, launching the Family Foundations Retreat, and we welcome Julie's continued advocacy for philanthropy as a member of CMF's Advisory Cabinet. RESOLVED further that the Board of Trustees of the Council of Michigan Foundations (CMF) extends it appreciation to Libby Maynard, President of the Heron Oaks Foundation, for her nine years of dedicated service as a Trustee of CMF, including: chairing the Government Relations Committee, chairing two Annual Conference Committees, supporting development of the Cultural Competency Plan and Organizational Analysis, and implementation of G uiding Principles as a condition of membership in CMF, and we welcome Libby' s continued advocacy for philanthropy as a member of CMF's Advisory Cabinet. �Governance Committee Report October 2007 Page 2 Background At the Annual Members Meeting on Monday morning, October 22, we will seek ratification of the election of the class of2010. At the Conference we will also recognize Libby Maynard and Julie Fisher Cummings, tenn limited Trustees, for their service. We want to thank Libby as well for her continued service on the Board of Trustees the Council on Foundations. We are excited that Julie has received a Presidential nomination to the Board of the Corporation for National and Community Service. Dottie Johnson, President Emeritus ofCMF, has been serving on the Corporation's Board but is term limited. We look forward to receiving news of the Senate 's approval of Julie's nomination. The membership has approved the election of the slate of trustees as attached. We are grateful to Libby Cherin, John C olina, Wes Maurer, Dan Wyant and Betsy Upton Stover for agreeing to stand for re-election to the Board for an additional three year term. After considering a number of qualifies candidates, the Committee is pleased that the following five individuals have agreed to serve: • Susan Broman, Executive Director, Steelcase Foundation • Caroline Chambers, President, Comerica Charitable Foundation • Tom Cook, Executive Director, Cook Family Foundation • Carol Paine McGovern, President, Paine Family Foundation • Tom Porter, President, Porter Family Foundation II. Slate of Otlicers for 2007 RESOLVED that the following individuals be elected to the offices as specified for a one-year term effective October 23, 2007. Chairperson- Diana Sieger, President, Grand Rapids Community Foundation Vice Chair Community Foundations - Elizabeth Cherin, President, Fremont Community Foundation Vice Chair Family Foundations- Betsy Upton Stover, Trustee, FrederickS. Upton Foundation Vice Chair Corporate Foundations - Melonie C olaianne, President, MASCO Corporation Foundation Secretary - Amanda VanDusen, Principal, Miller, Canfield, Paddock and Stone P.L.C. Treasurer - Phillip Peters, Vice President- Administration and Secretary, C harles Stewart Mott Foundation President - Robert Collier Background We are grateful to Diana, Libby, Betsy, Amanda and Phil for agreeing to continue their service and to Melonie for agreeing to join the Executive Committee. She fills a vacancy created by the retirement of Sandy Ulsh from the Board and from the Ford Motor Company Fund. �Governance Committee Report October 2007 Page 3 Ill. Board Development Opportunity for the October 22 Meeting In adopting the Cultural Competency Plan for CMF, the Board agreed to pursue further Board development opportunities. We are pleased that Henry Ramos, Director of the Diversity in Philanthropy Project, will be joining the Board Meeting as a special guest to lead a conversation on this important issue for CMF and our field. Henry's bio and background information on the Diversity in Philanthropy Project is included in Tab 7 of the Board book. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Governance-Committee Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book governance committee Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book governance committee. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50699 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22 https://digitalcollections.library.gvsu.edu/files/original/73f3daecbceb3ff9e1bfdf3a816ad956.pdf 61f095cbee660dfc4944c1758788a23b PDF Text Text eMF Council of Michigan Foundat ions Serving grantmakers. Advancing giving. October 12, 2007 To: Diana Sieger, Chairperson and Members of the Board ofTrustees From: Libby Maynard, Chairperson Government Relations Committee cc: Rob Collier, President Re: Report of the Government Relations Committee The Annual Meeting of the Government Relations Committee was held on October 1 with participation by 15 of the 28 members either by phone or in person. The following report with recommended action is presented for your consideration. I. Update of Legislative Goals Statement RESOLVED that the Legislative Goals Statement, included as Attachment B, be adopted for 2007. Background -National Legislative and Regulatory Issues CMF Public Policy Fellow, Jaclyn Miel-Uken presented a review of recent hearings held by subcommittees of the House Ways and Means Committee and Senate Finance Committee with a focus on: changes needed to the charitable reform provisions in the Pension Bill; charities using offshore hedge funds to avoid unrelated business investment tax, and charities serving lowincome and diverse populations. Her summary of the Hearings is included as Attachment A. The discussion then focused on the following five national goals. Rob Collier reviewed progress on efforts to extend the IRA Charitable Rollover- Goalll, page 6- and noted that the feasibility of having it extended with donor advised funds being included, the age lowered to 59 Y2 and the cap of $100,000 lifted is becoming unlikely. Collier noted that the National Planned Giving Council reports that more than one hundred million has been documented in new giving as a result of the IRA Rollover with the average IRA gift about $15,000. Efforts this fall will focus on extending the Rollover in its current form. Committee members will be asked in November to encourage the leadership of Representative Levin, a member of Ways and Means and Senator Stabenow- a member of Senate Finance. Dave Lindberg, CMF Vice President Finance & Administration, shared that w ith input from members, CMF has filed a letter with the IRS in response to the request for the comments on the proposed changes to the Form 990- Goal16, page 8. He noted that the IRS has already responded to several of the recommendations also coming from the Council on Foundations and Independent Sector, such as the use of percentages on the summary page. �Government Relations Report October 2007 Page 2 Mr. Collier introduced Goal18, page 9, being proposed this year as a result of two discussions with Senator Levin and members of the CMF Investment Committee and a bill now introduced by Representative Levin. Mr. Lindberg then reviewed the issue of foundations and other charities using off shore blockers to avoid Unrelated Business Income Tax (UBIT). Mr. Collier noted that the Council on Foundation has asked CMF to discuss with Representative Levin the feasibility of adding the issue of UBIT on leveraged real estate investments by foundations discussed in Goal10, page 5, to his Bill on hedge funds. Mr. Collier will be meeting with Representative Levin's staff at the end of October. Chairperson Maynard then introduced an amendment to Goal 13, page 7, on the issue of the federal estate tax - namely to support reinstatement of the state estate tax credit at the federal level. This change is tied to the new Goal 9 - opposing reinstatement of a state inheritance tax under the State Legislative Issues. Michigan was receiving about $150 million from the federal government as a result of this estate tax credit but lost the benefit about five years ago with the changes in the federal estate tax. Instead of advocating for Congress to reinstate this credit, a bill has been introduced in the State House of Representatives to reinstate a Michigan Inheritance Tax - repealed in 1993 with strong support from CMF. Background - State Legislative and Regulatory Issues The discussion focused on one existing and three new State Legislative Goals. Mr. Collier and Mr. Richner from Clark Hill conunented that the community foundation tax credit- Goal 5, page 10 - in the Single Business Tax which ends December 31, 2007 has been added to the new Michigan Business Tax (MBT). They noted that the addition of a new credit for K-12 school foundations in the same section of the Bill as the community foundation credit is creating complications which Senator Bishop has indicated he will support correcting by moving the new credit to a separate section of the MBT. Goal9, page 12 opposes reinstatement of a State Inheritance Tax. As noted above, HB 4377the Michigan Estate Tax Act was introduced this winter as one part of the strategy to help deal with the State's fiscal crisis. Mr. Collier noted that in meetings with the House Leadership, it became clear that they did not know about the efforts in 1993 to repeal the State Inheritance Tax in order to reduce the number of residents shifting their residencies to Florida and other southern states. He added that the House Leadership and Governor have indicated that they will not support this bill at this time. Goal 10, page 12, supports legislation to replace the Unifonn Management oflnstitutional Funds Act (UMIFA) with the Uniform Prudent Management of Institutional Funds Act (UPMIFA). Mr. Lindberg commented that the changes in UMIF A have been carefully vetted by the Probate and Estate Planning Section of the Michigan Bar, chaired by Robin Ferriby ofthe Community Foundation of Southeast Michigan, and that the legislation is also supported by the Michigan Nonprofit Association. �Government Relations Report October 2007 Page 3 Goalll, page 12, proposes amending the State Limited Liability Company Act to create a "lowprofit limited liability company "(L3C). Mr. Collier explained that this has become a priority of the Council on Foundations and that a foundation from North Carolina has retained former IRS Commission Mark Owens now with the fim1 Caplin and Drysdale to work on this concept. Mr. Collier invited Mr. Tamacki, CMF legal counsel from Clark Hill, who joined him for a recent call with Mr. Owens to explain the benefits of an L3C. There was consensus that as the next step the Committee will meet again to review legislation for the L3C and a plan to obtain bi-partisan legislative support. II. 2008 Foundations on the Hill and the new Congressional Philanthropy Caucus Mr. Collier shared the March dates for 2008 Foundations on the Hill and discussed creation of the new Congressional Philanthropy Caucus by the Council on Foundations. Representative Upton is the only member of the Michigan Congressional delegation that has responded to the letter of invitation from the Caucus Chairs, Representatives Hayes and Tubb-Jones. There was consensus by the Committee that CMF should write letters to the other members of the Michigan Delegation encouraging them to join the Caucus. Mr. Collier reminded Committee members present and on the phone to promote the Annual Conference in Dearborn. There being no further business the meeting was adjourned at 4:08 p.m. We look forward to discussing this report with you. �Attachment A Recent Congressional Hearings on Tax-Exempt Organizations Prepared by Jaclyn Miel-Uken, CMF Public Policy Fellow 9126107 Senate Finance Committee Hearing on Offshore Tax Issues: Reinsurance & Hedge Funds The first in a long series of Senate hearings on offshore tax evasion to include the taxexempt sector, this Hearing explored ways to recoup lost revenue and close perceived loopholes in tax deferral laws through recently proposed S.B. 396, S.B. 1284, S.B. 554 and H.R. 3501- the last of which intends to relieve tax-exempt organizations from structuring hedge funds as foreign fund investments to evade unrelated business income tax (UBIT). Public pension funds, college and university endowments, and other taxexempt organizations that invest in offshore hedge funds to avoid the 35% UBIT were examined. For more information including a list of witnesses, please access the Senate Finance Committee's web site at http://finance.senate.gov/sitepages/hearing092607.htm. You may also view the hearing at http://finance.senate.gov/sitepageslhearings.htm. 9/25107 House Ways & Means Oversight Subcommittee Hearing to Examine Whether Charitable Organizations Serve the Needs ofDiverse Communities Subcommittee members learned about the demographic make-up of donors and beneficiaries of philanthropic giving and the limited data sources that inform these statistics. Also discussed was how charities and nonprotits decide to serve the communities they do. The hearing was heavily focused on data needs, Form 990 and how nonprofits partner w ith each other and government to serve diverse communities. The American Red Cross-Hurricane Katrina case was thoroughly discussed. For more information, please access the House Ways & Means Hearing Archives at http://waysandmeans.house.gov/hearings.asp?fonnmode=detail&hearing=587. 7124107 House Ways & Means Oversight Subcommittee Hearing on Tax-Exempt Charitable Organizations The first in a series of hearings on charitable organizations, this infonnative overview focused on IRA Charitable Rollover expansion, improvement of charitable provisions in the Pension Protection Act of2006, unlawful practices performed by a handful of the sector's organizations and voluntary measures adopted by the sector to ensure accountability and compliance. The Subcommittee was engrossed in learning, asked several questions about donor advised funds and supporting organizations and challenged the idea that inappropriate practices were commonplace. For more information, see CMF's News Wire Article at www.cmif.org/News Detailed.asp?ID= l414 or the Council on Foundations' summary at www .cof.org/Action/content.cfrn?ItemN umber= I 0764&navltemNumber=4252. �CMF Council of Michigan Founcfations Attachment B Serving grantmakers. Advancing giving. Draft Legislative Goals Statement The purpose of the Government Relations Committee of the Council of Michigan Foundations is to seek support for legislative changes at both the state and national levels that will help to strengthen, promote and increase foundation and corporate philanthropy. The CMF Board of Trustees approved the initial Legislative Statement on March I, 1979. Revised statements were approved September 19, 1980; January 27, 1982; May 10, 1983; June 14, 1985; Aprill 2, 1988; February 25, 1992; November 4, 1992; November 8, 1995; October 30, 1996; March 13, 1997; November 4, 1998; October 14, 1999; October 2, 2000, October 2, 2001 , September 29, 2002, November 10, 2003, November 3, 2004, October 10, 2005, October 17, 2006, and October 22, 2007.* I. INTRODUCTION Foundation and corporate giving has long been a unique part of American society, supported by appropriate federal and state legislation and regulations. While there have been refonns at both levels of government to encourage giving, there have also been provisions in past legislation, such as the 1969 Tax Act, and regulations that serve as disincentives for the creation of new foundations, as well as discourage charitable donations to existing foundations. Because the mission of CMF is to strengthen, promote and increase philanthropy in Michigan, the Board of Trustees has adopted as one of six operating goals- to advocate for a legislative and regulatory government conducive to philanthropy. In 1977, the Members ofCMF directed the Board of Trustees to develop a public inforn1ation program that would support and encourage Michigan foundation philanthropy and include communication with public policymakers. A Government Relations Committee was established to implement the program and has continued to represent CMF Members on their legislative interests and priorities. CMF works with foundation and corporate Members, the Council on Foundations, other regional associations of grantmakers and the Forum of Regional Associations ofGrantmakers, Independent Sector, Michigan Nonprofit Association, and other nonprofit organizations to enhance the understanding of public policymakers about philanthropy and to bring about appropriate legislative changes in laws and regulations. As a result of these efforts by CMF and others, the following goals have been accomplished. II. NATIONAL GOALS ACCOMPLISHED • • • • • Reduction of mandatory pay-out requirement for private foundations to 5% Excise Tax on private foundations reduced from 4% to 2%, and in some cases 1% Terminated .65 limit on grant administrative expenses for private foundations Fair regulations on private foundation lobbying issued Full deductibility of gifts to private foundations of publicly-traded stock made pern1anent * Bolded text signifies 2007 update. Page I �• • • • • • • • • • • • Gain portion of gifts of appreciated property not subject to the alternative minimum tax Affidavit process for simplifying private foundations grants to non-U.S. charities instituted Private & community foundations allowed to own S-Corporation stock Protected charitable gift annuities as attractive giving vehicle for donors Premiums paid for D&O liability insurance not treated as compensation for trustees Regulation passed indicating U.S. foundation grants to nonresident aliens would be taxed, depending on the place where the research or study takes place Community foundations permitted to administer pooled income fund Due date of first estimated private foundation tax payment on investment income changed to coincide with the due date of the Form 990-PF Generation-skipping transfer law pertinent to the predeceased parent exclusion, extended for charitable lead and remainder trusts Legislation passed eliminating Charitable Split Dollar Insurance Plans Estate tax phased out between 2002 and 201 0 Legislation passed in 2006 providing for a two year pilot for 2006 and 2007 for a Charitable IRA provision III. STATE GOALS ACCOMPLISHED • • • • • • • • • State inheritance tax repealed Community foundation tax credit for individuals and businesses made permanent Definition of community foundation strengthened in tax code Tort liability of volunteers of nonprofit corporations limited Michigan Intangibles Tax repealed 501(c)(3) organizations allowed to have an insurable interest in the life of an individual who has given written consent Legislation (three separate bills) passed allowing gifts and bequests received by units of local government (cities, villages, counties, public libraries and schools), to be gifted to community foundations Nonprofit Corporation Act amended to allow youth ages 16 and 17 to serve on boards of nonprofit corporations with vote Legislation passed for distribution of$20 plus million in 2001-2003 tobacco settlement funds to state-certified community foundations for healthy youth and healthy seniors programs IV. NATIONAL LEGISLATIVE ISSUES 1. Goal: Maintain the private foundation payout rate at not more than 5 percent to protect the real value of foundations' grantmaking capability. Explanation: In order to preserve the "real" grantmaking capacity of a private foundation, it is important that all historical financial data be taken into consideration. History has shown that a portion of the annual return should be returned to principal. (Reilly/Skadden, University of Michigan Graduate School of Business Administration study sponsored by CMF, 1981 -Private Foundations: The Payout Requirement and Its Effect on Investment and Spending Policies, and a DeMarche Associates, Inc. study *Bolded text signifies 2007 update. Page 2 �"Spending Policies and Investment Planning for Foundations, " 1995, sponsored by the Council on Foundations.) A CMF sponsored study, completed in May 2000 and updated in 2004 by Cambridge Associates, Inc. of the actual performance of a group of Michigan endowed private foundations, confirms the position of maintaining the payout rate at no more than 5 %. The National Committee for Responsive Philanthropy and the National Network of Grantmakers continue to support an increase in the payout to 6% for private foundations. A recommended payout of 5% for community foundations donor advised funds and other donor advised funds, supported by the National Panel convened by Independent Sector at the request of the Senate Finance Committee, was not included in final charitable refom1s included in HR 4 - the Pension Bill that passed in August 2006. As a result of this legislation, the Department of Treasury has undertaken a study of donor advised funds and supporting organizations with a recommended payout likely. 2. Goal: Change the limitation on gifts to a private foundation from 20 percent to 30 percent of AGI for gifts of appreciated property and from 30 percent to 50 percent of AGI for gifts of cash. Explanation: Under existing law, the amount deductible by an individual taxpayer for contributions to private non-operating foundations is computed as a percentage of the donor' s contribution base (in most cases, his or her adjusted gross income). An individual may deduct only 20 percent of the gifts of appreciated property or 30 percent of gifts of cash. On the other hand, an individual taxpayer can deduct up to 50 percent of their contribution base for cash (and 30 percent for appreciated property) for gifts to public charities. 3. Goal: Increase the deduction allowed a taxpayer for a gift to a private foundation of certain capital gain property. Explanation: Individual taxpayers may deduct the full fair market value of a gift to a private foundation of appreciated property in the form of publicly-traded stock, ifthe gift is less than 10 percent of the outstanding stock of the company. However, in other cases, such as privately held stock, the amount of deduction continues to be limited to the donor' s cost or basis in the stock if the gift is to a private non-operating foundation. The same gift to a public charity entitles the taxpayer to a full fair market value deduction. 4. Goal: Repeal the excise tax on private foundations. Explanation: The 1984 Tax Act allows the excise tax on investment income to be reduced from two to one percent if a foundation 's payout for the year in question equals or exceeds an amount equal to the year' s assets, times the average payout percentage for the five years, plus 1 percent of the foundation's net investment income. Private foundations are the only 501(c)(3) organizations that currently pay this federal tax. The current fommla is difficu lt to administer and can limit charitable giving. * Bolded text sig nifies 2007 update. Page 3 �Simplification to a flat one percent is an acceptable intermediate step and enjoys bipartisan support in the House and the Senate. While simplification is considered a strategy for promoting giving, efforts to include this in legislation in 2007 have been unsuccessful. The Council on Foundations feels it would be best to promote just one charitable incentive, and extension of the IRA Charitable Rollover beyond 2007 is the goal. 5. Goal: Prevent further efforts to reduce the usefulness of the charitable deduction and repeal the three percent floor on itemized deductions. Explanation: In 1990, after initially considering a cap on all itemized deductions, Congress approved a three percent floor in deductions. This floor was scheduled to expire at the end of 1995, but in 1993 was made permanent. 6. Goal: Limit lineal descendants who are "disqualified persons" at the level of grandchildren. Explanation: In 1984, the law was amended to limit "disqualified persons" to substantial contributors to a foundation and their children, grandchildren, great grandchildren, and their spouses. The amendment provided that substantial contributors will no longer be considered "disqualified persons" if, over a ten-year period, they meet certain requirements to distance themselves from the foundation. However, there is still no logical rationale - - or examples of abuse - - to justify the inclusion of lineal descendants beyond the level of grandchildren. 7. Goal: Modify the law to permit the "out of corpus" requirement to be met by a foreign grantee if sufficient documentation is provided showing that the full amount of the grant was spent for the specified purposes w ithin 12 months after the year the grant was made. Explanation: When making grants to some foreign charities, private foundations are required to treat them as private fou ndations. Any grant from a private foundation to another private foundation requires that the amount granted "flow through" the grantee and out as qualifying distributions that are made "out of corpus" by the end of the following year. The purpose for this rule is to prevent a foundation from avoiding the payout rule by having one private foundation give to another, who then simply adds the grant to its endowment (corpus), with charitable grantees receiving no benefit. In the foreign grant context, the grantee rarely has any endowment and totally misunderstands the concept of "out of corpus." 8. Goal: Secure passage of legislation providing a charitable deduction for non-itemizers. Explanation: Most taxpayers no longer file the long tax form that permits itemized deductions; instead they file the short form that allows only a standard deduction. From 1983 to 1986 non-itemizers were permitted to take the standard deduction plus itemize charitable contributions within certain limits, but the deduction expired January 1, 1987. * Bolded text signifies 2007 update. Page 4 �The Senate Fiscal Agency has evaluated the cost of the non-itemizer and deemed that it will cost the federal government more than it will generate in new charitable giving. As a result Senator Levin has indicated his non-support for this issue. President Bush dropped the charitable non-itemizer from h is proposed budget for 2006 - the first time since he has been President that it has not been included. When the CARE Act was added to the Pension B ill 's Conference Committee, it became evident that the non-itemizer would not survive as one of the limited charitable incentives. It was not included in the final version of the Pension Bill, signed into law by the President in August 2006. Sponsors are not being sought in 2007 for legislation to introduce the non-itemizer. 9. Goal: Support reasonable limits on the degree to which foundations and charities can lobby or otherwise influence public policy decisions and oppose unreasonable limits that adversely affect grantmaking. Explanation: Continuous monitoring is essential to oppose unreasonable and unnecessary regulatory reporting burdens on both foundations and their grantees. Independent Sector (IS), on behalf of foundations and public charity non profits, has taken the position that 50l(c)(3) and 50l(c)(4) organizations should not be included in the definition of political committees. Political committees are prohibited from raising money from corporations (including nonprofit corporations) or unions or from using contributions in excess of $5,000 from an individual to pay for electioneering activities. Political committees must also disclose names of contributors in regular reports to the Federal Election Commission (FEC), and contributions to such committees are not taxdeductible. IS makes the following points: • • • 10. Current tax law already limits the lobbying and partisan political activities of these groups. The FEC should maintain its current, clear distinction between "express advocacy'' communications (those that clearly call for a vote for or against a particular candidate or political party) and other nonpartisan communications. It should not adopt IRS standards for partisan advocacy, which were designed for a different regulatory and enforcement regime. Voter registration and get-out-the-vote activities should only be considered political expenditures ifthey are clearly tied to a candidate or party. Activities targeted to specific populations (e.g., women, African Americans, a particular neighborhood, members of a particular organization) should not be considered political "expenditures" simply because those populations may be "more likely" to vote for a particular candidate or party. Goal: Support legislation to eliminate the classification of realized gains and income, derived from leveraged real estate investments by foundations, as unrelated business taxable income. * Bolded text signifies 2007 update. Page 5 �Explanation: Foundations and nonprofit organizations are significant investors in the real estate market. However, income derived from leveraged real estate investments, owned directly or through partnerships, is currently taxed as unrelated business taxable income (UBTI). Private foundations should be treated in the same manner as educational organizations and qualified pension plans, which since 1980 have been exempt from the debt-financed property rules with respect to the acquisition of certain real property. The Council on Foundations has asked CMF to discuss this issue with Representative Levin to see if he would add it to his bill dealing with Hedge Funds discussed below. A meeting is scheduled for November 2 with the Representative's staff in Washington. 11. Goal: Permit tax-free distribution from individual retirement accounts (IRAs) for charitable purposes. Explanation: It is proposed that direct gifts from an IRA to a charitable organization would not be taxed as income to the account-holder who has attained the age of 59 ~ years of age, if the disbursement is made directly to either a qualified charity or a qualifying deferred giving plan. It is anticipated that such a law would increase contributions to many charitable organizations, including community foundations. This issue continues to receive bi-partisan support in both the House and Senate. Michigan Representative Dave Camp and both Senator Levin and Senator Stabenow played key roles in the inclusion of the IRA Charitable Rollover in the final version ofthe Pension Bill signed into law by the President in August 2006. The provision is only for 2006 and 2007 and allows individuals age 70 Yz to make contributions of up to $100,000 tax free from IRAs to charitable organizations, except donor advised funds and private foundations, in both 2006 and 2007. CMF through its supporting organization, Midwest Community Foundations' Ventures, has played a leading role in the development of the Charitable IRA Portfolio distributed on September 11, 2006 to all community foundations nationwide that meet national standards for community foundations. HR 1419 and SB 819 have now been introduced to extend the IRA C haritable Rollover beyond 2007 and remove the cap of$100,000, reduce the age to 59 1/2, and permit distributions to donor advised funds and supporting organizations. Due to: the pay go rules now in place in Congress, the initial research by the National Planned Giving Council on the use of the Rollover to date, and the ongoing investigation by the IRS into donor advised funds, members of the Michigan Congressional Delegation have advised that it is unlikely these three changes will be approved and attention in the fall of 2007 should be given to extending the IRA Charitable Rollover in its current form. 12. Goal: Avoid excessive regulations on corporate giving. Explanation: CMF supports public accountability, but not excessive regulation, which would require costly administration. *Bolded text signifies 2007 update. Page 6 �The House version of the 2002 Corporate and Accounting: Accountability and Transparency Act included three reporting provisions (all Board service by officers, directors, and significant family members; all gifts of $10,000 or more; all transactions valued at $10,000 or more) that would have a negative impact on corporate philanthropy. Working with the Council on Foundations, CMF was successful in ensuring that this provision was not included in the Senate version, the version signed into law in the summer of2002 by the President. 13. Goal: Monitor the impact of estate tax legislation passed in 2001 on creation of new foundations and gifts to existing foundations and promote reinstatement of the federal state estate tax credit. Explanation: The "Tax Relief Reconciliation Act of 2001" passed by the Congress and signed into law by the President in June 2001, phases out the Estate Tax between 2002 and 2010. Full repeal however is only in effect for the year 2010. The estate tax then reverts, unless new legislation is passed, to the 2000 tax code status. President Bush has indicated that it is a priority to make repeal of the estate tax permanent. It is estimated by the Congressional Budget Office in a July 2004 Report titles Charitable Bequests and the Repeal ofthe Estate Ta.x, that full repeal of the estate tax would annually cost the nonprofit sector $ 17 billion in charitable bequests. Independent Sector (IS) supports a compromise of an exemption rate of $3.5 million for an individual and a 35% tax rate. At this rate it is bel ieved that nearly all family farms and family-owned businesses would be exempt from the estate tax. The estate tax would only apply to 0.3 percent of Americans as opposed to only 2 percent of estates today. The Congressional Budget Office further estimates in a July 2005 Report titled Effects of the Federal Estate Tax on Farms and Small Businesses, that the IS position would decrease charitable giving by about 3 percent or $7.4 billion as opposed to $17 billion with total repeal. This goal is now tied to Goal 9 under State Legislative Issues - opposing reinstatement of a state inheritance tax. Michigan was receiving funds from the federal state estate tax credit that more than offset repeal of the state inheritance tax in 1993- a CMF Goal. The federal credit has now been phased out and a bill has been introduced to reinstate a State Inheritance Tax. This will encourage residents to again transfer their place of residency to homes in Florida and other states. While it is the position ofCMF to not support or oppose legislation that has a broad impact beyond the charitable field, it is necessary to monitor the impact on philanthropy of this legislation and future changes that might be made in the estate tax. 14. Goal: Support efforts to incorporate philanthropy as an objective of legislation providing financial resources to character education and other K-12 educational initiatives. * Bolded text sig nifies 2007 update. Page 7 �Explanation: CMF was successful through the Learning to Give initiative in having the word "giving" added to the definition of character education in the 2002 Education Bill signed by President Bush. Learning to Give, now through its new affiliation with The League, is assisting when appropriate national partners, such as the Corporation for National and Community Service, in efforts to ensure that giving is incorporated in new character education programs and other appropriate federal initiatives. 15. Goal: Support legislation requiring a five percent payout for Donor Advised Funds. Explanation: In 2005 and 2006, staff of the Senate Finance Committee advocated for a required payout for Donor Advised Funds, defined simply as Funds at public charities that primarily make grants to charitable beneficiaries pursuant to advice provided by the donor. This proposed required payout is caused by concerns of members of Congress that some Donor Advised Funds administered by organizations such as the Fidelity Gift Fund never make a charitable distribution and that university and college endowment funds make less than a five percent payout while the cost of higher education continues to escalate for students. Because the five percent payout is recommended by both Michigan and national standards for community foundations, CMF supports such legislation. The National Panel convened by IS at the request of the Senate Finance Committee has recommended this payout requirement for Donor Advised Funds in its final Report presented on June 22, 2005 to Senator Grass ley, Chair of the Senate Finance Committee. A payout for Donor Advised Funds will be considered by the Department of Treasury in its 2007 study of Donor Advised Funds required in the Charitable Reform Section of HR 4 - the Pension Bill, signed into law in August 2006. 16. Goal: Support efforts to make the IRS forn1s 990 and 990PF more useful to the public, foundations, charities and regulators as prime sources of reliable information on the nonprofit sector. Explanation: Recent efforts by the Foundation Center, National Center on Charitable Statistics, and Council on Foundations to present accurate data to Congress on the administrative costs of operating a private foundation, indicate that the existing 990PF and companion 990 Form are inadequate in their current formats. A review of 30 990PF returns by CMF staff in January 2004 confirmed the problems filers are having with the current forn1s. The 2005 Report to the Senate Finance Committee by the National Panel convened by Independent Sector recommends that the Internal Revenue Service revise these forms. Dave Lindberg, CMF Vice President for Finance, is participating in a 990 Reform Advisory Committee convened by Independent Sector (IS), that is working with the IRS on recommended changes for a new Form 990 and 990PF. CMF filed a letter with the IRS in advance of the September 14 deadline supporting the recommendations of COF and IS, especially that implementation of the new 990 Form be delayed until the 2009 fiscal year to give nonprofits the opportunity to be ready to use it. * Bolded text signifies 2007 update. Page 8 �17. Goal: Support efforts to limit tax shelters in which charities receive little or no benefit. Explanation: The Senate Finance Committee has identified through Hearings held in 2004 and 2005, examples of tax shelters providing little benefit to charity. As a result Senator Grassley introduced S 993 in 2005 to place excise taxes on insurance contracts in which certain exempt organizations may hold an interest. This Bill received support from the Council on Foundations, Independent Sector and CMF. The issue of insurance contracts has been included in the Reform Provisions of HR 4 passed in 2006. 18. Goal: Support legislation that allows tax-exempt entities to invest in securities and commodities that involve indebtedness without being subject to unrelated business income tax. Explanation: Congressman Sander Levin has introduced H.R. 3501 to exempt taxexempt entities from Unrelated Business Income Tax (UBIT) when investing in securities that involve debt. The original intent of UBIT was to prevent nonprofits from competing against for-profit entities in a business that is not substantially related to its exempt purpose. Over the last twenty years, foundations and universities have invested in hedge funds and other alternative investments to increase their investment returns and reduce the volatility of their investment portfolio. Many times these investments involve leverage (debt) that would subject the foundation to UBIT but based on Private Letter Rulings from the IRS, foundations are able invest in this area through offshore corporations as limited partners and avoid UBIT. The key issue is tax-exempt institutions should not be taxed on passive leveraged investments. V. STATE LEGISLATIVE ISSUES I. Goal: Monitor and support the continued granting of property tax exemption by local units of government to foundations. Explanation: CMF, working with partners such as the Michigan Nonprofit Association, will closely monitor cases that could adversely impact foundations where nonprofit organizations are being forced by local tax authorities to appeal their tax exemption status to the State Tax Tribunal, and if needed, consider filing letters of support with the Tax Tribunal. 2. Goal: Support legislation encouraging a tax-deduction for charitable contributions from individuals. Explanation: Other states have found that a tax deduction mirroring the federal tax code does motivate additional gifts by individuals to charities. While the introduction of legislation in tough economic times is unlikely, the Michigan Nonprofit Association continues to identify this as a legislative priority. * Bolded text signifies 2007 update. Page 9 �3. Goal: Monitor and report to the state on the use of tobacco settlement funds distributed to certified community foundations in 2001-2003 for health youth and healthy senior purposes. Explanation: Michigan's share of the national tobacco settlement ($206 billion over the next 26 years) between 46 states, five commonwealths and territories and the District of Columbia with five tobacco companies, representing 97.5% ofthe industry, is $8.3 billion. The master settlement agreement does not specify how states may spend their settlement payments. Between 2001 and 2003 CMF distributed more that $20 million of interest earned on the tobacco settlement funds not used for the Merit Scholarship Program and eannarked annually through the Department of Career Development budget to certified community foundations for both pass through grantmaking and to endow Healthy Youth and Healthy Senior Funds. Because of the State's financial budget problems, no funds were appropriated for this effort in 2004 and 2005. The legislature passed legislation in 2006 with the Governor's support to securitize a major portion of the tobacco settlement to create the 21 st Century Jobs Fund. The balance of the tobacco settlement allocation was securitized by the state in 2007 to balance the budget. 4. Goal: Support legislation to simplify the Charitable Solicitations Act- SB 507. Explanation: Community foundations are required, as well as other charitable nonprofits, to file for an annual solicitation license. The licensing, enforcement, and appeal processes are not considered user friendly by nonprofits and do not reflect the changing cost in fundraising. The Michigan Nonprofit Association is leading the effort on this issue. Legislation proposed by Senator George is still being developed. 5. Goal: To monitor administration of the pennanent community fou ndation tax credits for individuals, families and businesses and their relationship to current and proposed tax credits. Explanation: As a result of term limits CMF staff continually work with legislators to explain the tax credit and the role of community foundations. There is an on-going effort by other nonprofit sector groups such as hospitals, schools and community development corporations to obtain targeted tax credits without acknowledgement of the potential to meet their needs through the existing community foundation tax credit. In addition, CMF staff assists Treasury Department staff to insure that the re-certification process is working with certified community foundations that cover all 83 counties. With the decision by the Legislature to eliminate the Single Business Tax (SBT) at the end of2007, the community foundation tax credit in the SBT w ill be eliminated as well. The credit has been included in the new Michigan Business Tax (MBT) that takes effect 2008. A new credit for K-12 education foundations has been added to the section of the MBT covering the community foundations tax credit. Efforts are * Bolded text sig nifies 2007 update. Page 10 �underway to separate this new credit from the community foundation tax credit as part of additional legislation on the MBT. 6. Goal: To assist the Charitable Trust Section ofthe Attorney General's office, an important source of information about charitable giving and the nonprofit sector in Michigan. Explanation: CMF has always worked with the Charitable Trust Section of the Office of the Attorney General. With the election of Attorney General Cox in 2004, CMF and the Michigan Nonprofit Association proposed a more formal relationship to the Attorney General which he approved. As a result, the Nonprofit Council to the Charitable Trust Section, led by his Deputy Attorney General Carol Isaacs, was created. CMF has three representatives on the Council, which is considered a national model and is now being replicated by other Attorneys General. The Committee meets three times a year and assists the Section on issues related to charitable giving and charities. In addition, the staff leader of the Section attends the CMF Annual Conference. This relationship is vital because there are recent cases in which state attorneys general have initiated litigation against foundations for excess compensation and self dealing abuses and examples of unfavorable state legislation initiated by attorneys general 7. Goal: To support revisions to the Nonprofit Corporation Act Explanation: There have been no major amendments to the Act since it was adopted in 1982. Suggested changes to the Act include: • To allow nonprofits to have members vote by mail, fax or email, • To increase the number of required board members from one to three (a recommendation of The National Panel's Final Report to the Senate Finance Committee), • To provide the same liability protection to those serving on nonprofit boards as to those serving on the board of a business corporation, and • To require all personal loans to employees, board members and volunteers be reviewed by the state. The State Bar Association is leading the redrafting process for this bill introduced. 8. Goal: To provide educational resources to members of the State legislature and the Office of the Attorney General on the issue of donor intent. Explanation: As a result of an investigation into the Ford Foundation by the Attorney General, HB 6351 was introduced by Representatives Dillon and Huizenga in June 2006. The purpose of the bill is to redefined donor intent as a pattern of grantmaking in the first three years of a foundation 's existence and the specification of a defined place, like the state of Michigan, in the founding documents. The bill was not considered by a committee and the founding sponsor Representative Dillon indicated that he would not support his bill. As a result of meeting with the two Representatives, CMF had two documents prepared, by the law firm Miller, Canfield, Paddock and Stone PLC during the summer of 2006 * Bolded text sig nifies 2007 update. Page II �which were delivered to them and Deputy Attorney General Isaacs on September 7, 2006. The first document is a review of existing laws that confirm the Attorney General does not need new legislation to oversee donor intent with regard to private foundations. The second document provides an introduction to donor intent from the perspective of a policy maker. On September 19, 2006 HB 6535 the Charitable Foundations Accountability Act was introduced by Representative Huizenga without the support of Representative Dillon. CMF indicated its opposition to this bill and provided a Media Response Statement to members should the media ask about it. Representative Huizenga indicated that this Bill would not advance and was only introduced at the request of the Attorney General. There have been no further efforts in 2007 by the Legislature to deal w ith the issue of Donor Intent. 9. Goal: To oppose reinstatement of a State Inheritance Tax. Explanation: HB4377 the Michigan Estate tax act was introduced in March 2007 by Representative Paul Condino as part of a strategy to balance the states structural fiscal crisis. The legislative leadership and governor have indicated that they will not support this bill because of the impact it will have on families of wealth transferring their residency to their second homes in places like Florida. 10. Goal: To support legislation to replace the Uniform Management of Institutional Funds Act (UMIFA) with the Uniform Prudent Management oflnstitutional Funds Act (UPMIFA), including language that UPMIFA does not affect a community foundation's ability to exercise its variance power. Explanation: Senate Bills 392 & 393 have been introduced to replace UMIFA, which governs how foundations manage their investments with UPMIFA as recommended by the National Conference of Commissioners on Uniform State Laws. The Council of the Probate and Estate Planning Section of the Michigan State Bar discussed this legislation at their April 2007 meeting and suggested two changes to the proposed legislation. a. Make it clear that this does not affect community foundations in trust form which are governed under other laws. b. This should not affect the community foundation 's ability to exercise variance power. The key differences from UMIFA, include: • Elimination of " historic dollar value" rule • Gives primary consideration to donor intent • Notify Attorney General if plan to exercise variance power (see revision noted above). • Investments should be diversified. 11. Goal: Amend the State Limited Liability Company Act to create a "Low-profit Limited Liability Company" (L3C). The purpose of this new investment vehicle * Bolded text sig nifies 2007 update. Page 12 �would be to generate modest profit while carrying on a business that serves a charitable purpose. Explanation: The L3C is a new concept: a special type of limited liability company created to enhance the flow of philanthropic investments and economic development activities such as creating jobs in economically depressed areas or supporting community revitalization. Although some states have considered adopting this legislation, Michigan may be the first. In many cases before a private foundation can undertake a program-related investment, it must engage in a complicated analysis which often includes obtaining a private letter ruling from the IRS at considerable time and expense. The proposed state legislation would closely track the Internal Revenue Code requirements for a private foundation to make a program-related investment. Once the state legislation enacted, the Council on Foundations believes it can approach the IRS and/or Congress to obtain appropriate federal recognition. The amendment to the LLC statute would require an L3C to engage only in business activities that significantly further a charitable purpose and that have only the incidental goal of producing income or capital appreciation. Given those restrictions, foundations could take an equity interest in or make grants or loans to L3Cs and have the distributions included in the 5'% minimum distribution requirement. This legislation would also benefit community foundations and other public charities engaged in economic development by permitting them to invest in a business that is structured primarily to accomplish a charitable goal. The L3C has been adopted as a priority by the COF Public Policy Committee. * Bolded text signifies 2007 update. Page 13 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Our State of Generosity Creator An entity primarily responsible for making the resource Grand Valley State University. Dorothy A. Johnson Center for Philanthropy Description An account of the resource Collection contains the records of four Michigan nonprofit organizations: Council of Michigan Foundations, Michigan Nonprofit Association, Michigan Community Service Commission, and the Johnson Center for Philanthropy at GVSU. The documents are compiled by the Johnson Center for Philanthropy, and records document the history of the organizations from the 1960s to the 2010s. Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant 1968-2014 Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Council of Michigan Foundations Michigan Nonprofit Association Michigan Community Service Commission Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Michigan Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 49401 Contributor An entity responsible for making contributions to the resource Council of Michigan Foundations; Michigan Nonprofit Association; Michigan Community Service Commission Identifier An unambiguous reference to the resource within a given context JCPA-04 Language A language of the resource eng Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context JCPA-04_CMF_2007_BB_2007-10-22_Government-Relations-Committee-Report Title A name given to the resource Council of Michigan Foundations 2007-10-22 board book government relations committee report Creator An entity primarily responsible for making the resource Council of Michigan Foundations. Board of Trustees Description An account of the resource Council of Michigan Foundations 2007-10-22 board book government relations committee report. Records are compiled in the Our State of Generosity collection by the Johnson Center, along with the files of the Michigan Nonprofit Association (MNA), the Michigan Community Service Commission (MCSC) and the Dorothy A. Johnson Center for Philanthropy. Originals are at the Council of Michigan Foundations. Subject The topic of the resource Dorothy A. Johnson Center for Philanthropy Charities Philanthropy and Society Fundraising Records Council of Michigan Foundations Michigan Format The file format, physical medium, or dimensions of the resource application/pdf Type The nature or genre of the resource Text Language A language of the resource eng Publisher An entity responsible for making the resource available Grand Valley State University Libraries, Special Collections and University Archives, 1 Campus Drive, Allendale, MI, 50700 Rights Information about rights held in and over the resource <a href="http://rightsstatements.org/page/InC/1.0/?language=en">In Copyright</a> Source A related resource from which the described resource is derived <a href="https://gvsu.lyrasistechnology.org/repositories/2/resources/515">Our State of Generosity collection, JCPA-04</a> Date A point or period of time associated with an event in the lifecycle of the resource 2007-10-22