Exciting News in the world of Community Foundations

Senate Bill 102

Senate Bill 102 creates the Michigan Community Foundation Act, which will allow the transfer of intangible personal property from a municipality, public library and/or school board to a community foundation.  “This law will save money for local organizations,” said Wayne Schmidt, R-Traverse City. “Having these donations managed by the local community foundation can lead to reduced administrative expenses for the local entity making the donation. And this can lead to more funds being available for charitable purposes for that agency.”

SB 102 is now Public Act 38 of 2017.

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