However, Friendship Circle’s perspective changed when it realized that it was no longer “an ornament” but a vital part of the community, he said.
“We owe it to the community to declare that we are stable and that we are going to be able to move on to the next generation.”
The nonprofit raised $ 1 million for its permanent endowment between 2016 and 2019, before taking a break during the pandemic.
With cash and commitments in hand of $ 9.2 million, he is making public his permanent endowment target of $ 25 million.
Part of the endowment will go towards providing scholarships to ensure that the 27-year-old’s programs are accessible to everyone, Shemtov said. Among them are camps, an art studio, sports programs, and the Weinberg Village of real-world experiences, including the Fringe Too Salon, Huntington Bank, Sav-On Drugs, Henry Ford Medical Center, Friendship Cafe, a pet store and other spaces.
“People really take the opportunity to dedicate a scholarship and make it as a permanent tribute to someone they love or in honor of someone,†Shemtov said.
The remainder of the endowment will provide sustainable income to help ensure the continued operation of Friendship Circle.
“Coming out of times like this, some people think it’s a good time to make sure our organizations are there for the next unexpected challenge,†he said.
Friendship Circle operates on an annual budget of $ 5.5 million, including the operations of Dakota Bread Co, a business it acquired last year to provide job training opportunities for its clients, and Soul Cafe at West Bloomfield.
In 2019, before the pandemic interrupted programs, it served 2,300 children and adults with disabilities.
