Troy Community Foundation reports record Family Days turnout, seeks volunteers and private support

Troy City Council received an update Oct. 20 from the Troy Community Foundation on the recent Troy Family Days festival and the foundation's broader local programs.

"We love how Troy Community Foundation is hyper local," said Olivia McLaughlin, executive director, as she described the foundation's grant programs, scholarships and volunteer-run senior services. McLaughlin told the council the foundation manages just under $600,000 in endowments and about $1 million in total assets held by Morgan Stanley.

"It is a real community event," said Karen Greenwood, the foundation's board chair, describing changes this year that included a revised layout using more of Stein Park, a new children's science exhibit brought by the Michigan Science Center, an expanded stage program and a special day for more than 300 students with disabilities.

McLaughlin reported estimated festival attendance of about 30,000 people during the four-day run and said overall revenues were up about 5% compared with the prior year. Ride revenue rose 18.9, she said, while festival operating costs increased roughly 30% year over year because of higher prices for tents, fencing, porta-potties, security and other rentals.

Robertson Brothers representatives presented a corporate contribution to the foundation during the council meeting. The donation was described on the record as $36,500 and as representing $250 per unit for the Village of Troy development; Robertson Homes said the company is about three-quarters sold out in that project.

Foundation leaders asked for volunteers to support ongoing programs, including three senior-focused efforts for which the foundation serves as fiscal host: Friends of Troy Seniors, the senior computer lab and a home repair assistance program. McLaughlin also encouraged residents and businesses to consider establishing endowments (an initial deposit of $10,000 was cited as the starting amount) and noted the foundation awards five educational scholarships, one of which doubled its awards this year.

Council members praised the event and asked staff about risk-management options. Mayor Pro Tem Gunn suggested the foundation examine rain insurance; McLaughlin said the group maintains a reserve to cover sunk costs (she cited about $135,000 in initial nonrefundable costs at event opening) and is considering fundraising and budget adjustments.

The foundation said it is already meeting with city staff to explore opportunities where private funds, city resources and grants could be combined to support new projects. The foundation also announced Troy Charity Night on Nov. 13, a reverse fundraiser that directs $50 donations into chosen endowments.

Funding details mentioned at the meeting: endowments just under $600,000, roughly $1 million in total assets under management, an estimated 30,000 event attendees, a reported 18.9% increase in ride revenue, an overall revenue increase of about 5% and a roughly 30% rise in festival costs compared with the prior year.

The council did not take action on the presentation; the foundation left the council with a call for volunteers and continued private support.