The Erb Family Foundation in Royal Oak, Michigan, has announced that it is transitioning from a perpetual foundation to one with a planned spend-down approach over the next 12 years.

According to the foundation, the decision follows a detailed analysis and assessment of how its stewardship efforts can continue to have the longest and greatest impact on its grantmaking areas. While the foundation will continue to operate under its current strategic plan for the next two years, its board and staff will collaborate to develop a new plan for the 10-year spend-down period. The new plan, which the foundation expects to implement by the end of 2024, will focus on the foundation’s current areas of interest and its founders’ legacy projects as well as efforts to create lasting, high-impact projects and programs.

Over the next several years, the foundation’s operations will largely continue as they are, and grantees and partners will see no significant changes. During the spend-down period, grantmaking will transition to larger projects and strategic grantee program support.

“This is an incredibly exciting time to begin this new journey with our extraordinary team and the grantees we have supported over the last 14 years,” the foundation stated in a blog post. “We look forward to continuing to deliver on our mission of advancing the economic, environmental, and social interests of our region in ways that meet the present and anticipate the future.”

(Photo credit: Getty Images/eric1513)