Monday, May 11th, 2015
The Summit Foundation has received a $1 million gift from local timeshare developers Mike Dudick, Mike Millisor and Rob Millisor to create a lasting legacy in support of The Foundation’s work in granting funds to nonprofit organizations throughout our community.
“The Summit Foundation is honored to be the recipient of this unbelievable gift,” said Kevin McDonald, President of the Board of Trustees for The Summit Foundation. “We are committed to working with Breckenridge Grand Vacations to make a significant impact on our community now and for years to come. We are fortunate to have this forward-thinking company in Summit County that truly cares about our community and is creating a legacy for our children and future generations.”
Through their existing donor advised fund, which was established in 2008 with The Summit Foundation, Breckenridge Grand Vacations (BGV) has contributed over $400,000 to the community during this past fall and spring giving cycles. This additional $1 million gift will remain as an endowment so that The Summit Foundation can enjoy the certainty that there will be funds available for their efforts well into the future.
“Recognizing the need to continue to philanthropically fund non-profit organizations after we someday finish the development phase of our company, my partners and I have decided to develop an endowment fund with The Summit Foundation,” said Mike Dudick.
Sales for the Grand Colorado on Peak 8, BGV’s resort which is currently under construction will continue for at least six years and the company entertains additional developments in the future. BGV’s owners felt a need to ensure local non-profits would continue to be financially supported regardless of economic conditions.
“My partners and I felt it was a good time to create the endowment so it can grow over time. We want to ensure funding remains available to the local non-profits that are so critical to the town we call home,” said Rob Millisor.
“BGV actively supports a culture of giving in our company and hope this gift encourages others to do the same,” noted Mike Millisor. “Even our employees contribute to The Summit Foundation through payroll deductions to the tune of $75,000 annually. It’s fair to say we believe the work of The Summit Foundation to be highly valuable and worth continuing to support for many years to come.”
Breckenridge Grand Vacations is the parent company of the award-winning Grand Lodge on Peak 7, Grand Timber Lodge and Gold Point Resort. In 2015, the company was named the Top Employer by the American Resort Development Association and also as an employer of choice by The Denver Post Top Workplaces. Breckenridge Grand Vacations’ newest resort, Grand Colorado on Peak 8 continues to break sales records since its launch last December. Grand Colorado is scheduled to open for occupancy in the summer of 2016. Visit www.breckenridgegrandvacations.com for more information.
The Summit Foundation is a community foundation that raises funds to support nonprofit organizations and students in Summit, Lake, Park and Grand Counties. Since its inception 30 years ago, The Summit Foundation has awarded over $21 million in grants and scholarships throughout our mountain communities.
The Summit Foundation raises about $2 million in operating fund dollars annually, and an additional $500,000 to $750,000 tends to be contributed toward the organization’s endowment fund, donor advised funds, scholarship funds and agency endowment funds each year. The cornerstone of The Summit Foundation’s fundraising efforts is the patron pass program, transferable ski privileges graciously donated by a partnership with Arapahoe Basin, Copper Mountain and Vail Resorts, which earns over $1 million annually. This $1 million gift from Breckenridge Grand Vacations is one of the largest gifts The Summit Foundation has ever received.
Through The Summit Foundation’s distributions in 2014, 94 nonprofit organizations operating programs in Summit, Lake, Park and Grand Counties were awarded $1.8 million in grants and 99 local high school graduates were awarded $230,000 in scholarship funds for their post-secondary education studies.