On Monday, July 24 at 6:00 p.m. the Kalamazoo City Commission will convene for a work session focused on the Foundation for Excellence. The work session will be held in the City Commission Chambers at City Hall and will be televised live on Public Media Network Channel 187 and streamed on the City of Kalamazoo’s YouTube Channel.
The specific focus of the meeting will be the proposed bylaws and articles of incorporation for the new Foundation for Excellence. Since the FFE was approved in October 2016, City staff have explored best practices and worked with community partners and donors to draft the legal structure and rules of the Foundation. They will be presented to the City Commission for review and discussion and could be presented for approval as early as the August 7 meeting.
The documents spell out the details of how the FFE will operate, such as how the Board of Directors and Officers are selected, how meetings are scheduled and conducted, how projects are ultimately chosen for funding and the relationship between the FFE and the City Commission.
“We did our homework before preparing these documents and have consulted with our community partners, the Michigan Council of Foundations and reviewed other foundations across the country with similar missions,” explained City Manager Jim Ritsema. “The structure and bylaws we will present will set the FFE up for long-term success and provide funding to make our aspirations a reality.”
The proposed bylaws and articles of incorporation are available here.
In addition to $70.3 million to fund a three-year transition period through 2019, the Memorandum of Understanding between the City and the lead donors included a commitment to assist in a fundraising effort to raise the approximately $500 million needed to fully endow the Foundation and sustain its work in perpetuity. After the documents are approved, this fundraising effort will begin and the Foundation’s Board of Directors will be selected.
Several Kalamazoo residents have already shown their support for the Foundation’s work by electing to donate a portion of their 2017 property tax savings back to the FFE.
“We are continuing to see strong support for the Foundation for Excellence and for the important investments that it will enable in our city,” said Kalamazoo Mayor Bobby J. Hopewell. “With each step in the progress we are getting closer and closer to ensuring this will continue for generations to come, making our city a better place and helping all in our community to realize their potential.”