President and CEO of the Grand Traverse Regional Community Foundation Dave Mengebier gave us a GTRCF update.
A native of Petoskey and graduate of both MSU and U of M, Dave spent 27 years with Consumers Energy, rising to the level of Senior Vice President. When he concluded his career there, rather than retiring he returned to northern Michigan in January to head the foundation that serves five counties, including Benzie County. In Traverse City he also joined the noon Rotary Club.
Dave explained how community foundations work: they bring together gifts, pool them, and then make grants out of earned interest and income to eligible 501(c)(3)'s. GTRCF grants 4% of interest and income per year to endowment beneficiaries (based on a twelve-quarter trailing average to smooth out volatility).
GTRCF partners with and stewards donor giving, working with more than 300 funds whose donations have built to $60 million. The Foundation has granted some $52.5 million since 1992.
According to Dave, "We love our communities and want to see them thrive, forever." After showing a short "Pay it Forward" video, Dave fielded a number of questions from an interested audience on donor-advised funds and rollover IRA's, among other topics.
GTRCF is another resource we are fortunate to have in our community!