GreenPath Financial Wellness Creates Endowment Funds to Honor Founders Albert O. Horner and Bruce Paradis
FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Nov 26, 2019--
GreenPath Financial Wellness, a national nonprofit that provides financial counseling, education and products, announced the establishment of the Albert O. Horner GreenPath Financial Wellness Founder’s Fund and Bruce Paradis Homeownership Preservation Foundation (HPF) Founder’s Fund. The endowment funds will provide perpetual support for the operations of GreenPath. In 2018, GreenPath served over 200,000 households and helped pay off more than $216 million in consumer debt. HPF is an affiliate of GreenPath, increasing access to support and guidance for people seeking to buy and keep their homes.
The Founder’s Funds were created by GreenPath who provided the initial funding to recognize these incredible founders’ contributions. The Funds will be managed by the Community Foundation for Southeast Michigan, which currently manages endowments for more than 200 nonprofit organizations. The Funds will generate a stream of income for GreenPath, leaving assets invested to grow in perpetuity and ensuring assets are preserved for the nonprofit’s long-term mission.
“The Founder’s Funds are a most fitting way to honor the legacies of Mr. Horner and Mr. Paradis,” said Kristen Holt, CEO, GreenPath. “Mr. Horner and Mr. Paradis provided a great gift that has helped people for decades improve their financial wellness, obtain and sustain their American Dream. We are committed to continue the great work they started. These endowments will be a lasting demonstration of that commitment.”
Albert O. Horner founded GreenPath over 60 years ago with a vision: to change lives. Born out of the Michigan Credit Union League in 1961 as a budgeting and financial education service, the organization was initially established as Credit Counseling Centers. GreenPath was one of the country’s first agencies that the U.S. Department of Housing and Urban Development (HUD) approved for financial counseling services. Since then, GreenPath has become a national leader in financial wellness. “I am so grateful to all those who are continuing my life’s work and passion,” remarked Mr. Horner.
As a founding member of the HPF board, Bruce Paradis helped HPF open its doors in 2004, by obtaining a $20 million seed grant from General Motors Acceptance Corp. (GMAC) to start this important work. “I wanted to help homeowners regain control of their financial situations during the housing crisis. I’m heartened to see this effort we started in 2004 continue,” remarked Mr. Paradis.
Individuals or organizations interested in making a secure online contribution to the Founder’s Funds, please visit: https://www.greenpath.com/endowment-funds/. The Funds can accept gifts of all kinds, including cash, bequests, stock, real estate, life insurance, and retirement assets.
“The Community Foundation is proud to partner with GreenPath to continue to help families in southeast Michigan and across the country, chart a path to financial health for many decades to come,” said Mariam C. Noland, President, Community Foundation for Southeast Michigan. “Endowment is especially important during uncertain economic times when other support may no longer be available, and we applaud GreenPath’s vision to prepare for the future.”
About GreenPath Financial Wellness
GreenPath Financial Wellness is a national nonprofit organization that provides financial counseling, education and products to empower people to lead financially healthy lives. Working directly with individuals and through partnerships since 1961, GreenPath assists clients with debt and credit management, homeownership education and foreclosure prevention, student loans and bankruptcy needs. Headquartered in Michigan, GreenPath, along with its affiliates, has more than 50 locations across the United States. GreenPath is a member of the National Foundation for Credit Counseling (NFCC) and is accredited by the Council on Accreditation (COA). For more information, visit www.greenpath.org.
About Homeownership Preservation Foundation (HPF)
Homeownership Preservation Foundation is a national, nonprofit organization dedicated to guiding consumers onto the path of sustainable homeownership and improving their overall financial health. As an affiliate of GreenPath Financial Wellness, HPF can provide consumers pre-purchase counseling, mortgage and credit education and housing counseling. HPF’s Homeowner HOPE™ Hotline (888-995-HOPE™) helps homeowners avoid foreclosure. Hotline counselors provides coaching before people buy a home. For more information, visit hpfhome.org or 995hope.org.
About Community Foundation for Southeast Michigan
The Community Foundation for Southeast Michigan is a full-service philanthropic organization leading the way to positive change in our region. As a permanent community endowment built by gifts from thousands of individuals and organizations, the Community Foundation supports a wide variety of activities benefiting education, arts and culture, health, human services, community development, and civic affairs. Since its inception, the Community Foundation has distributed more than $1.1 billion through nearly 69,000 grants to nonprofit organizations throughout Wayne, Oakland, Macomb, Monroe, Washtenaw, St. Clair, and Livingston counties. For more information, please visit www.cfsem.org.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005872/en/
CONTACT: Media Contact:
GreenPath Financial Wellness
Community Foundation for Southeast Michigan
KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN
INDUSTRY KEYWORD: FINANCE FOUNDATION OTHER PHILANTHROPY PROFESSIONAL SERVICES PHILANTHROPY
SOURCE: GreenPath Financial Wellness
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PUB: 11/26/2019 05:08 PM/DISC: 11/26/2019 05:08 PM