Community Quarterly: July Newsletter
July, 2007 |
Permalink
Welcome to our July newsletter. This month's features include:
• +100,000 Reasons to Become a Trust Fund Investor
• Supporting Supportive Housing in Ann Arbor
• Borrowers' & Burners' Luncheon
Just scroll down to read the articles, or download a PDF version here. Also, don't forget that you can sign up to receive our eNewsletter via email just by entering your address in the box below (no spam, we promise).
+100,000 Reasons to Become a Trust Fund Investor
July, 2007 |
Permalink
We are all accustomed to thinking about our
responsibility to give a portion of what we have to
those in need. We give to the congregation that we
attend, to charities, and to other programs which
benefit our communities. However, we don’t
often think about the ways we can invest our
resources to help those in need.
Our economy is fueled by investment. Traditionally, religious institutions have responded to community needs through gifts and donations, but as institutions and as individual members of institutions, we control greater resources than those we are able or willing to give away.
Investing in community development
organizations like the Trust Fund multiplies our
efforts to foster economic and social justice
throughout the state of Michigan.
Joe and Luella Bassett, two longtime humanitarians and Trust Fund investors, are prime examples of how investments can help fuel our work. Last month, the Bassetts announced a $100,000.00 challenge investment, where they will match new individual investments with the Trust Fund dollar-for-dollar. In essence, this means your investment will go twice as far towards supporting our mission.
In an interview with the Community Quarterly, Mr. Bassett explained how he and his wife see their commitment to the Trust Fund as a way of trying to deal with the injustices in the world.
“We see a need to educate people, to engage them—particularly faith groups. That’s supposed to be part of their commitment, to look out for others,” said Joe.
The Bassetts have been strong advocates for economic and social justice issues through the Episcopal Diocese of Michigan for many years. Joe and Luella have both served on the Board of Trustees of the Episcopal Diocese of Michigan, and the Diocese’s Economic Justice Commission. Joe is also an active member of the Trust Fund’s Board. This May, the Bassetts were honored at the Episcopal Diocese of Michigan’s awards gala, and received the Father James McLaren Award for their many years of service.
“We’ve been living in a ‘me’ generation for a long time,” said Joe. “That’s why we feel a responsibility to make a large commitment in our time, talents, and treasures to (organizations like) the Trust Fund.”
This is the second major investment the Trust Fund has received in less than a year. In September 2006, we bid an unexpected, and very sad, farewell to one of our founding board members, Norm Naimark. Norm was instrumental in forming the Michigan Housing Trust Fund in 1985, and held the distinct honor of serving the greatest number of years of any board member in our organization’s combined history.
After his passing, the Naimark Fund was established to honor Norm’s legacy, with all donations directly supporting the Trust Fund’s affordable housing and economic justice programs, which Norm helped make a reality. His children, led by his daughter Susan Naimark and her husband John Rowse, have made a generous challenge investment of $100,000 to the Naimark Fund. This challenge will match dollar for dollar donations to the fund that bears their father’s name.
The Trust Fund loan programs are making a difference here in Michigan. In our 22 year history, we have lent over $22 million for affordable housing, which has created over 1900 housing units, and lent an additional $2.4 million for economic development, which has created 192 new jobs and served 125 children.
We’re proud of these achievements, but none of this would have been possible without the support of our investors. It is our sincere hope that the major investment challenges from the Bassetts and the Naimark family will inspire more folks to support our mission, and become Trust Fund investors.
Like Joe said, we’ve been living in a me generation for far too long... it’s time to start a we generation for the 21st century.
Our economy is fueled by investment. Traditionally, religious institutions have responded to community needs through gifts and donations, but as institutions and as individual members of institutions, we control greater resources than those we are able or willing to give away.
Joe and Luella Bassett, two longtime humanitarians and Trust Fund investors, are prime examples of how investments can help fuel our work. Last month, the Bassetts announced a $100,000.00 challenge investment, where they will match new individual investments with the Trust Fund dollar-for-dollar. In essence, this means your investment will go twice as far towards supporting our mission.
In an interview with the Community Quarterly, Mr. Bassett explained how he and his wife see their commitment to the Trust Fund as a way of trying to deal with the injustices in the world.
“We see a need to educate people, to engage them—particularly faith groups. That’s supposed to be part of their commitment, to look out for others,” said Joe.
The Bassetts have been strong advocates for economic and social justice issues through the Episcopal Diocese of Michigan for many years. Joe and Luella have both served on the Board of Trustees of the Episcopal Diocese of Michigan, and the Diocese’s Economic Justice Commission. Joe is also an active member of the Trust Fund’s Board. This May, the Bassetts were honored at the Episcopal Diocese of Michigan’s awards gala, and received the Father James McLaren Award for their many years of service.
“We’ve been living in a ‘me’ generation for a long time,” said Joe. “That’s why we feel a responsibility to make a large commitment in our time, talents, and treasures to (organizations like) the Trust Fund.”
This is the second major investment the Trust Fund has received in less than a year. In September 2006, we bid an unexpected, and very sad, farewell to one of our founding board members, Norm Naimark. Norm was instrumental in forming the Michigan Housing Trust Fund in 1985, and held the distinct honor of serving the greatest number of years of any board member in our organization’s combined history.
After his passing, the Naimark Fund was established to honor Norm’s legacy, with all donations directly supporting the Trust Fund’s affordable housing and economic justice programs, which Norm helped make a reality. His children, led by his daughter Susan Naimark and her husband John Rowse, have made a generous challenge investment of $100,000 to the Naimark Fund. This challenge will match dollar for dollar donations to the fund that bears their father’s name.
The Trust Fund loan programs are making a difference here in Michigan. In our 22 year history, we have lent over $22 million for affordable housing, which has created over 1900 housing units, and lent an additional $2.4 million for economic development, which has created 192 new jobs and served 125 children.
We’re proud of these achievements, but none of this would have been possible without the support of our investors. It is our sincere hope that the major investment challenges from the Bassetts and the Naimark family will inspire more folks to support our mission, and become Trust Fund investors.
Like Joe said, we’ve been living in a me generation for far too long... it’s time to start a we generation for the 21st century.
Supporting Supportive Housing in Ann Arbor
July, 2007 |
Permalink
Avalon Housing was created in 1992 to develop and
manage permanent affordable housing with support
services for people with very low incomes and
disabilities. Over the past eight years, the Trust
Fund has funded numerous Avalon projects, including
two in Ann Arbor earlier this year.
The first project is targeted towards people
that are chronically homeless. Individuals are
typically referred to Avalon by the Shelter
Association of Washtenaw County, or the Project
OutReach Team (PORT). Avalon, the Shelter, and the
PORT Team have a strong track record of collaboration
and coordinating services for homeless individuals
who wish to gain residence in Avalon units. Ongoing
supportive housing services are also available to
tenants through Catholic Social Services.
The second loan financed by the Trust Fund this
year is targeted at survivors of domestic violence.
For this project, Avalon receives referrals from Safe
House Center, an emergency shelter for victims of
domestic abuse. The combined loans —for
$492,150 and $504,900, respectively—will create
10 units of affordable housing in the Ann Arbor area.
Over the years, Avalon has received many awards from various community development organizations in recognition of their work in the affordable housing industry. During 2006, Avalon housed 277 low income individuals, including 51 families with children.
“In 1992, Avalon’s first loan for our first 6-unit project came from the Michigan Housing Trust Fund for $26,000,” said Michael Appel, Executive Director of Avalon Housing. “Fifteen years later, we have 18 projects and 190 units, and we still look to the Michigan Interfaith Trust Fund for development support. Their $1 million in bridge loan financing in 2007 allowed us to secure two projects and ten units of housing for homeless persons when we would otherwise have lost site control.”
Each of these projects were developed as part of MSHDA’s Campaign to End Homelessness, and will also receive permanent financing support from MSHDA, the City of Ann Arbor, Washtenaw County, and the Federal Home Loan Bank.
The Trust Fund is proud to support Avalon’s work in Ann Arbor, and looks forward to future ventures with the organization. To learn more about Avalon Housing’s work, be sure to visit their website: avalonhousing.org.
Over the years, Avalon has received many awards from various community development organizations in recognition of their work in the affordable housing industry. During 2006, Avalon housed 277 low income individuals, including 51 families with children.
“In 1992, Avalon’s first loan for our first 6-unit project came from the Michigan Housing Trust Fund for $26,000,” said Michael Appel, Executive Director of Avalon Housing. “Fifteen years later, we have 18 projects and 190 units, and we still look to the Michigan Interfaith Trust Fund for development support. Their $1 million in bridge loan financing in 2007 allowed us to secure two projects and ten units of housing for homeless persons when we would otherwise have lost site control.”
Each of these projects were developed as part of MSHDA’s Campaign to End Homelessness, and will also receive permanent financing support from MSHDA, the City of Ann Arbor, Washtenaw County, and the Federal Home Loan Bank.
The Trust Fund is proud to support Avalon’s work in Ann Arbor, and looks forward to future ventures with the organization. To learn more about Avalon Housing’s work, be sure to visit their website: avalonhousing.org.
Borrowers' & Burners' Luncheon
July, 2007 |
Permalink
Thanks again to everyone who attended this year’s luncheon held on June 6th at The Kellogg Center. We hope folks had a good time playing the Survivor game… it was probably one of our biggest hits yet!
It’s always great to get together, share a meal, have some fun with colleagues, and celebrate the work of our borrowers. They’re the reason why we do what we do.
Again, special thanks to Jim Wildermuth of ArTech Photography for donating his time and talents to come take these beautiful photos. Remember, if you’re looking for a photographer to shoot your wedding, senior pictures, or family portrait, Jim’s the man you want to talk to. Look him up at artechphoto.com.
More pictures from the luncheon can be found here.