Consumers Energy Foundation

By WKTV Staff

The Consumers Energy Foundation today announced $135,000 in grants to assist 14 Michigan nonprofit organizations, including several in West Michigan which serve Wyoming and Kentwood, to help the organizations “meet critical needs as they serve residents the COVID-19 pandemic has affected.”

The latest round of grants is part of more than $3.6 million in donations made since March, according to a July 13 statement from Consumers Energy.

Among the local groups to benefit from the grants are the Meals on Wheels Western Michigan of Grandville, the Boys & Girls Club of Grand Rapids Youth Commonwealth of Grand Rapids, and the Women’s Resource Center of Grand Rapids.

“We want to do our part to help people, businesses and communities that will continue to feel the pandemic’s effects for months,” Brandon Hofmeister, president of the Consumers Energy Foundation, said in supplied material. “These nonprofits are meeting some of the most critical and urgent needs of Michigan’s people and communities hit hardest by the impact of COVID-19.”

The new grants will help nonprofit organizations in various ways, allowing them to “provide food and personal supplies to clients, buy cleaning supplies, and meet equipment and furniture needs as organizations change how they serve the public,” according to the statement.

Among the other statewide organizations gaining Foundation grants are: Family & Children’s Services of Mid-Michigan of Midland, Housing Resources Inc. of Kalamazoo, the Foundation for Mott Community College of Flint, Bethesda Lutheran Communities of Frankenmuth, Charitable Union of Battle Creek, Muskegon Rescue Mission of Muskegon, Clothing INC of Mount Pleasant, Ministry with Community of Kalamazoo, Eastside Community Action Center of Lansing, Family Counseling & Children’s Services of Lenawee County/Catherine Cobb Safe House of Adrian, and Love Thy Neighbor Grand Traverse Region of Traverse City.

The Consumers Energy Foundation is the charitable arm of Consumers Energy, Michigan’s largest energy provider. For more information about the Consumers Energy Foundation visit ConsumersEnergy.com/foundation.

Pictured from the left, Skot Welch, Birgit Klohs, Garrick Rochow, Renee Tappen, and Kwame Anku. (Supplied)

By The Right Place

Leaders at Bank of America, the Consumers Energy Foundation, and The Right Place, Inc. will be developing the New Community Transformation Fund. This will be an investment fund based in Grand Rapids, Michigan to support diverse business owners. The fund aims to increase ethnic and racial diversity in business ownership in West Michigan. In addition, it will focus on businesses that intend to provide multigenerational wealth creation within historically disadvantaged groups.

In 2020 the fund consultant team will focus on the design and development of the fund, including the goal of raising $15-$25 million in capital. The team will primarily be seeking family offices, institutional investors and corporate partners. The fund is aiming to launch in 2021.

Bank of America and the Consumers Energy Foundation have each provided $200,000 in initial startup capital. These funds will support the design and development of the fund, including creation of the fund’s legal structure and operational systems, and establishment of a management team, advisors, a board of directors, and securing local and national portfolio growth partners.

An experienced consulting team will lead design and development of the fund:

Skot Welch, General Partner. Recognized as a leader in utilizing the principles of global quality standards for the development and implementation of sustainable, systematic and measurable diversity initiatives.

Kwame Anku, Fund Consultant. The CEO and Chairman of the Black Star Fund. His responsibilities include fundraising, portfolio building, portfolio management and strategic partnerships.

Birgit Klohs, Senior Advisor. The President and CEO of The Right Place, Inc. a position she has held since 1987. The Right Place, Inc. is the regional economic development organization for West Michigan.

Birgit Klos, president and CEO of The Right Place, discusses the new fund during a press conference on Thursday. (Supplied)

“West Michigan has one of the strongest performing economies in the nation,” said Birgit Klohs, President and CEO, The Right Place, Inc. “Yet, this economic growth has not been shared by all members of our community. By investing in companies that will create long-term economic prosperity in communities of color, this fund will increase upward mobility and ultimately build a more diverse and globally competitive economy.”

The fund will focus on scalable early to midstage businesses and transitioning succession companies in the industries of advanced manufacturing, food processing and agribusiness, life sciences and medical devices, and information technology. This fund will invest in both current and prospective West Michigan companies, but will require founders and portfolio companies to locate and operate in West Michigan.

“The goal of this fund is to increase ethnic and racial diversity in Grand Rapids’ business ownership,” said Renee Tabben, Grand Rapids Market President, Bank of America, who sits on the Board of The Right Place, Inc. “Bank of America strives to help local economies prosper and one way we do that is by supporting business ownership to create sustainable, financially healthy and diverse communities.”

“While the West Michigan economy is booming, communities of color have not shared fully in our region’s success,” said Garrick Rochow, Executive Vice President of Operations for Consumers Energy and a member of The Right Place, Inc. Board’s Executive Committee. “In order to truly ‘win’ as a West Michigan community, our success must be collective. And to do that, we must go beyond talking about our good intentions and take action.”