Leland, January 15, 2025…The Board of Directors of Friends of Lake Leelanau, a public foundation established in mid-2021, announced that it has surpassed its fundraising goal to establish an endowment to protect Lake Leelanau in perpetuity. The campaign organizers credited the receptions hosted in people’s homes as a key factor contributing to the campaign’s success. These gatherings educated attendees about the significant threat invasive species present to Lake Leelanau and raised the community’s awareness and support for the foundation’s objectives.
Jennie Keller, Friends’ President, explained that the board’s initial goal was to raise $5 million to $8 million in gifts and pledges. However, “the community’s enthusiastic response has enabled the Foundation to secure more than $8 million in gifts and pledges. We want to thank every donor and family for their support and for breathing life into Friends of Lake Leelanau. We are especially grateful to the members of our dedicated Campaign Committee, the families who opened their homes to hold fundraising receptions, and also to a family which made a recent gift which brought our campaign across the finish line.”
“We also want to recognize and thank Bo Reahard,” continued Ms. Keller. “Bo played a critical role in the campaign’s success. He developed and managed Friends’ website and researched and prepared the mailing lists for Friends’ successful direct mail campaign.”
Carol Rademacher, the Foundation’s Secretary, noted that “approximately 550 households have contributed to Friends to date. Contributions ranged from $25 to $1,000,000. Of these, 37 households contributed or raised more than $100,000, earning these individuals and families the distinction of being named Founders of Friends.”
The Foundation’s Treasurer, Jim Grogan, further explained that, in addition to the $8 million in gifts and pledges the Foundation has received, the funds contributed since the Foundation’s inception have generated an estimated $1.1 million in investment gains over the past three and a half years, bringing the Foundation’s total assets, including unpaid pledges, to approximately $9.1 million in early 2025.
“We believe Friends is one of the largest endowments established to protect an inland lake in the State of Michigan,” said Tom Hiatt, Executive Vice President of Friends, noting that Lake Leelanau was the State’s 15th largest inland lake. “Effective this month, Friends is transitioning from a fundraising organization to a grant-making organization. We expect to make an announcement about our first grant very soon.”
While the Foundation will continue to accept contributions in the future, Friends concluded its formal fundraising campaign on December 31, 2024.
Friends was co-founded by Jennie Keller, Jim Grogan and Tom Hiatt. The three individuals have served as Friends’ board members since the organization was established. They worked closely with Carol Rademacher to coordinate the three-year long fundraising initiative, which was conducted entirely by volunteers.
In September 2024, two new members were elected to Friends board: Carol Rademacher, who, as Campaign Coordinator, maintained meticulous records of all contributions to Friends and ensured that each gift was recorded and promptly acknowledged; and Tom Reahard, an active supporter of Friends who has served as a member of Friends’ Investment Committee.
“It’s both an honor and a pleasure to be involved with Friends,” said Mr. Reahard. “In my many years as a member of the local community, I have seen few comparable fundraising initiatives. I, too, have been overwhelmed by the community’s embrace of the idea of Friends, and by the willingness of so many supporters to pull together to make this great idea a reality.”
Friends of Lake Leelanau is an independent public foundation. Its mission is to protect the waters of Lake Leelanau in perpetuity. Friends accomplishes this goal through an endowment, the income from which is distributed to organizations focused on maintaining the aquatic health of Lake Leelanau.