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HOPE Fund charts new course

By | 2008-03-13T09:00:00-04:00 March 13th, 2008|News|

TROY –
An enthusiastic group of donors to the HOPE Fund gathered last Friday at the Suburban Collection’s Luxury Lane in Troy. Amid extravagant Maseratis, Bentleys and the regal presence of the latest line of Rolls Royce, the group talked about harnessing the treasures within the LGBT community.
Patrick Jakeway, the HOPE fund Committee co-chair, said that the HOPE Fund is now poised to move into a new, more permanent phase. “We want to share with you, our donors, some exciting plans for the future of the HOPE Fund,” said Jakeway.
Jakeway introduced Allan Gilmour, the other co-chair and a founder of the HOPE Fund, who said that the committee plans to concentrate their fundraising efforts on the endowment, with the goal of increasing the endowment fund to a total of $2.3 million. Gilmour explained that once the endowment fund is fully funded, there will no longer be a need to raise money each year for grantmaking. Instead, the HOPE Fund will make its annual grants from the investment proceeds it earns on the endowment fund.
For over 15 years, the HOPE Fund, a project of the Community Foundation for Southeast Michigan, has raised money and made grants to projects that benefit the LGBT community. Since its inception in 1994, the HOPE Fund has given out grants in excess of $1.2 million. Each year the HOPE Fund committee has hosted fundraising events to generate money for grantmaking and to fund its endowment.
There is now over $1.1 million in the HOPE Fund endowment.
“You have been the supporters of the HOPE Fund over the past, and we hope each of you will consider makeing a generous gift to the endowment fund,” said Gilmour. Both Gilmour and Jakeway encouraged the donors to also become Legacy Donors to the HOPE Fund. Legacy Donors remember the HOPE Fund in their wills.

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