Traverse City Business News - March 2024

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• Our team of professionals holds designations and degrees such as CFP®, CFA, CPA, MBA, and PhD.

• Charles received his MBA from the Kellogg School of Management - Northwestern University, his MA in Economics from WMU, and Executive Education from Harvard Business School and Columbia University.

Zhang, CFP®, MBA, MSFS, ChFC

• Ranked #1 on Barron’s list of America’s TOP Independent Advisors and is the highest ranked NAPFA-Registered Fee-Only Advisor on the list.*

• Ranked #4 in the nation on Forbes’ list of TOP Wealth Advisors and is the ONLY Independent Advisor in the top 10.**

*As

WINDOW BUSINESS ACQUIRED

Old Mission Windows, founded in Traverse City in 1985, was recently acquired by US LBM, a distributor of specialty building materials in the United States. “We’re thrilled to join the US LBM family of companies,” said Marc Cesario, who has led Old Mission Windows for more than 20 years. Old Mission Windows marks the 21st Michigan location for US LBM and will operate as part of the company’s Standard Supply and Zeeland Lumber division, which includes Northern Building Supply in Traverse City and Suttons Bay.

VENTURE NORTH APPOINTS NEW CHAIR, MEMBERS

Venture North Funding and Development in Traverse City recently announced several additions to its board. New officers include Laura Reznich, chair – CFO, Plascon; Carla Gribbs, immediate past chair – formerly of DTE Energy; and Bill Byrne, treasurer – vice president of financial planning and acquisitions, Hagerty. New members include Andy Cole, senior vice president, northwest Michigan region, Cunningham-Limp; Chris Hackbarth, regional manager, DTE Energy; and Louise Wenzel, chair, The Antrim Foundation.

MANUFACTURING CO. CREATES WELDING APPRENTICESHIP

A first-of-its-kind apprenticeship program in northern Michigan will help a Traverse City manufacturing company train its employees. JanTec Incorporated, a manufacturer of conveyance systems and products, is launching a U.S. Department of Labor registered apprenticeship for welders in partnership with Northwest Michigan Works! JanTec is providing apprentices with approximately 36 months of on-the-job learning along with over 400 hours of related educational instruction provided through Northwestern Michigan College.

TRAVERSE CONNECT FILLS GOVERNMENT RELATIONS POST

Haley Bennett has joined Traverse Connect as its new director of government relations. Bennett will also serve in the same role for the Northern Michigan Chamber Alliance. “Haley brings extensive experience in advocacy and policy to her new role with Traverse Connect, having started her career as an intern in the Michigan Legislature,” said Traverse Connect President and CEO Warren Call. “Haley will be a strong advocate for rural businesses and communities as Traverse Connect and the Northern Michigan Chamber Alliance build upon years of success.” Bennett has lived in Traverse City since 2019.

TC COMPANY TO TRIAL COVID TREATMENT

HealthBio AI, a Traverse City company led by Dr. Bruce Patterson, has received acceptance from the United States Food and Drug Administration to proceed with a randomized clinical trial for the treatment of long COVID. The company is proposing the use of two existing medications: maraviroc, an FDA-approved prescription medicine for the treatment of HIV infection, and atorvastatin, FDA-approved for the treatment of high cholesterol levels, as therapeutic treatment. Working in combination, the drugs address the blood vessel inflammation responsible for many of the symptoms, including fatigue, chronic headaches, migraines, post-exertional malaise, brain fog, ringing in the ears, hot-cold sensitivity, and more.

TVC TO HOUSTON: DIRECT

Cherry Capital Airport (TVC) recently added its 19th direct flight – to Houston’s George Bush Intercontinental Airport. United Airlines is offering seasonal Saturday service beginning June 29 and running through August 17. Houston is United’s fifth non-stop destination –which also includes Chicago, Denver, Newark, and Washington D.C./Dulles. The new service was made possible by a U.S. Department of Transportation Small Community Air Service Development Program Grant ($750,000) with community partnerships between the airport, Traverse City Tourism, and Traverse Connect.

DUNEGRASS OPENS FLAGSHIP STORE

Cannabis retailer Dunegrass Co. has opened its flagship store in downtown Traverse City at 440 E. Front St. next to The Little Fleet. Dunegrass, a family-owned chain of dispensaries, has seven other locations around the region. “It’s amazing after years of opening stores throughout Northern Michigan we finally get to come home,” said Eric Piedmonte, COO of Dunegrass.

NMC APPOINTS MARSH TO BOARD

Bill Marsh Jr. is the newest member of the Northwestern Michigan College board of trustees. Marsh was one of six applicants for the board seat vacated by Rachel Johnson in January. He will serve on the board until the next regular community college election on Nov. 5. At that point, voters will choose a candidate to serve out the remainder of Johnson’s term, which runs through the end of 2026. Marsh, a longtime co-owner of the Bill Marsh Auto Group, announced in January that he and his brothers were selling their three dealerships to Serra Automotive. Marsh previously was a member of the NMC Foundation board, joining in 2010 and serving in turn as annual fund co-chair, executive committee officer, and ultimately as board chair from 2016 to 2018. In 2020, as the college worked through a new strategic plan, Marsh served as part of the steering community. That same year, he received the NMC Fellow award.

KOMBUCHA CO. FIGHTS HUMAN TRAFFICKING

Cultured Kombucha Co. in Traverse City recently announced it is committing one percent of its profits to fight against human trafficking. More than 5,000 human trafficking survivors, including women, children and men, have been identified across Michigan since 2007, according to the Human Trafficking Hotline.

BRIEFLY

WINERIES WIN AT COMPETITION

Several local wineries were award winners at the recent 2024 American Fine Wine Competition, known for recognizing excellence in winemaking. Wineries receiving recognition include Black Star Farms, Bel Lago, Brengman Brothers, Bel Lago, Blustone Vineyards, and Brys Estate Vineyard & Winery. A complete list of the winners and their wines is available at americanfinewinecompetition.org.

CONSIGNMENT SHOP SELLS, REBRANDS

After 18 years, Pat and Phil Thies have sold Jaffe’s Resale and Consignment in Lake Leelanau back to its founder, Jaffe Wade. Wade originally opened the shop in 2003 and sold it two years later. The Lake Leelanau store will be rebranded as Evergreen Consignment April 1, mirroring the consignment shop Wade opened in Traverse City in 2015, located at 541 E. Eighth Street.

RED GINGER SOLD

Red Ginger, the Asian restaurant and a downtown Traverse City staple, has been sold. Dan and Pam Marsh have agreed to sell to key employees Jordan Apsey and Oana Neacsu, according to the Ticker. Apsey is a chef and the Marshes’ son; he has worked at the restaurant since it opened in 2007. Neacsu is a manager and has been with Red Ginger since 2017. The transaction includes the sale of the business assets, though the building will continue to be owned by Dan and Pam Marsh. The Marshes will continue in a consultative role with the restaurant for two years.

On January 28, more than 120 million viewers were captivated by the NFC Championship showdown between the Lions and the San Francisco 49ers. Though the Lions did not clinch a victory that day, the State of Michigan quietly earned a win with record viewership of a debut commercial for the state’s new “Make It in Michigan” talent retention and attraction campaign. The commercial showcased the high quality of life and exciting career opportunities available in Michigan.

Michigan’s new promotional program is designed to address our crucial need to retain and attract more talented workers, especially younger workers, within the state. To do this, we need to highlight the many positive attributes that Michigan can offer. While cost of living and housing expenses are predictable considerations, one factor stands out: quality healthcare. Whether you’re a Gen Z job seeker or a seasoned baby boomer, access to reliable medical services is paramount.

Thankfully, Munson Healthcare, a vital contributor to Michigan’s healthcare landscape, has also unveiled its new Regional Care Transformation initiative. This plan details important organizational improvements, the plethora of career possibilities within Munson’s network of hospitals and clinics, and the exceptional level of care provided by its dedicated healthcare professionals. Munson’s career opportunities and quality healthcare programs are important differentiators in our battle for talent attraction and retention.

Munson Healthcare’s extensive reach in northern Michigan encompasses eight hospitals spread across 11,177 square miles – an area equivalent to Vermont and Delaware combined. With 7,500 employees, 1,000 physicians, 63 specialties, 694 licensed acute care beds, and 212 licensed long-term care beds, Munson Healthcare stands as a cornerstone of healthcare in the region and for the state overall.

Munson’s Regional Care Transformation plan is a comprehensive three-year strategy designed to improve outcomes across its vast 29-county service area. Medical advancements and investments in innovative technology will enable Munson to shift the focus from inpatient to outpatient services, resulting in shorter wait times and improved access. Telemedicine and technology will bridge the gap between rural communities and hospitals in our more urban centers, allowing patients to connect with healthcare professionals remotely. The plan also involves recruiting specialists and experienced healthcare professionals to eliminate the need for residents to travel south for specialized treatment.

Recognizing that different communities have unique needs, Munson is realigning inpatient services regionally creating new avenues for care, where patients encounter fewer administrative hurdles, experience smoother transitions, and have more care options close to home. This strategic approach ensures that staffing resources match patient requirements. No more unnecessary long journeys – care will be

LETTERS TO THE EDITOR

where patients need it.

Looking beyond the present, Munson is preparing for a future where our communities receive seamless healthcare through advances in rural health technology and innovation, thereby advancing healthcare accessibility in remote areas. There are exciting developments in virtual urgent care and remote patient monitoring, while drone technology could revolutionize medication delivery, bridging the gap

Looking

between remote areas and hospitals.

Munson’s transformation isn’t just about patients – it’s also about the career opportunities and support for the dedicated professionals who provide care. Our locally led healthcare system plays a key role in elevating the region’s overall

economic vitality by fostering economic growth, driving innovation and supporting the region’s talent attraction and development efforts. As Munson develops into a fully integrated and united health system, deploying advanced technology, opportunity and stability will benefit both patients and staff.

The combination of talent development and economic impact is on full display in the important collaboration between Northwestern Michigan College and Munson Healthcare. This long-term strategic partnership spans various facets, including NMC’s nursing programs, which includes the recent Bachelor of Science in Nursing plan and occupational specialty programs. Together, Munson and NMC foster educational opportunities and create pathways for our area’s healthcare professionals.

Michigan’s healthcare landscape is evolving. As Munson Healthcare continues to evolve, northern Michigan stands to gain from this modern approach to ensure better outcomes. By providing quality healthcare, advanced facilities and attractive careers, Munson contributes to the overall development and strength of northern Michigan. Let’s celebrate this transformation – one that puts patients and their well-being at the heart of it all, along with the dedicated professionals who make Michigan a healthier, happier place to live.

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FROM THE DESK OF...

Jerry Achenbach, Superintendent of the Great Lakes Maritime Academy

By Art Bukowski

After serving more than two decades in the United States Coast Guard, Jerry Achenbach, Superintendent of the Great Lakes Maritime Academy at Northwestern Michigan College since 2010. The New York native is now quite at home in the Great Lakes state, and he was gracious enough to show us around his desk and office at the academy. If you have a suggestion for a future “From the Desk Of” feature, please let us know at info@tcbusinessnews.com.

1. I keep the push-up stands in here. I shoot for 10 in the morning and 10 in the afternoon. It’s the best I can do these days.

2. I definitely live off of Diet Coke. It’s my biggest vice. I don’t smoke or drink anymore, but I can’t get off the Diet Coke.

3. A lot of mementos under the glass, including photos of my father in World War II and grandfather in World War I. Keeps me connected with my roots.

4. I have little figurines of the Buc-ee’s Beaver and the Blue Meanie. I went to Texas Tech, and anyone who’s been through Texas knows all about Buc-ee’s. The Blue Meanie is from Yellow Submarine, probably my favorite movie.

5. This baseball is from the time we made a port call with the training ship in Milwaukee and went to a Brewers game with the cadets. It’s a great memory.

6. I have this Soviet belt buckle from the time I did a Coast Guard mission in Bulgaria not long after the Berlin Wall fell. It’s a nice souvenir from that trip.

7. The one subscription I still get as a hard copy and I read every week is The Economist. It’s a habit I developed in grad school in the ‘90s, and there’s always at least one article in there that’s fascinating to me, every single week.

8. A few years ago the Seamen’s Church Institute gave one of these bells to all the maritime academies. I put it here inside my office because I knew if I put it outside my office, cadets would just ring it nonstop. I wanted to make sure it was someplace worthy, but I also didn’t want it driving me crazy.

Jerry at his desk looking out over the water. “Every time the president comes over I get nervous, because my office is nicer than his. I’m very fortunate to have this space and I honestly don’t appreciate it as much as I should. It’s a very nice office – one of the best in Traverse City.”

FOR LOVE AND MONEY

Nearly two dozen banks, credit unions support Grand Traverse area community organizations

By Rick Haglund

Banks and credit unions play an important role in the financial lives of their customers and members, but also in the fabric of the community. There are 20 of them serving Benzie, Grand Traverse, Kalkaska and Leelanau counties.

The following is a listing of those institutions with information about the various community organizations and events they contribute to and sponsor. A few banks and credit unions did not respond to requests for information. In those cases, TCBN listed the institutions using information from their websites and other publicly available information.

Honor Bank

Huntington Bank

Local leader: Nick Florian, market

leader

Year founded: 1866

Headquarters: Columbus, Ohio

Assets: $189 billion

Notable nonprofit and/or commercial customers: Florian says Huntington works with high-profile customers of “all sizes” throughout northern Michigan, including municipalities, nonprofits, housing developers, small businesses and corporations (names not disclosed.)

Community support impact: Strategic Community Plan allocated $40 billion to small business lending, and loans and investments that foster equity in affordable housing and other areas.

Florian on community support efforts: “Huntington is committed to making people’s lives better, helping businesses thrive and strengthen the communities we serve.”

Fifth Third Bank

Local leader: Autumn Gillow, northern Michigan market executive

Year founded: 1858

Headquarters: Cincinnati, Ohio

Assets: $213 billion

Notable nonprofit and/or commercial customers: Big Brothers Big Sisters, Habitat for Humanity, The Festival Foundation, Munson Foundation, Traverse Connect and Venture North.

Gillow on community support efforts and impact: “Fifth Third invests around $100,000 annually with northern Michigan community partners. We support a number of organizations, both in financial support and board support.”

Local leader: Norman Plumstead, president and chief executive officer

Year founded: 1917

Headquarters: Honor

Assets: $387.2 million

Notable nonprofit and/or commercial

customers: Burritt’s Fresh Market, National Cherry Festival, Old Town Playhouse, Keen Technical Solutions, Ford Insurance, Anavon Technology Group, Crystal River Outfitters, Leelanau Construction, Bay View Insurance Agency, Jonathan Zoutendam, DDS.

Community support impact: Plumstead says that for many years, Honor Bank has partnered with the Northwest Michigan Food Coalition on a community-wide “Honor Thy Neighbor” program. In the past three years alone, the initiative has raised more than $40,000 to support the program, which stocks pantries across northern Michigan with fresh, locally grown, healthy food.

Plumstead on community support efforts: “Besides helping with the food insecurity challenge, Honor Bank contributes tens of thousands of dollars and man-hours to community service with financial education, home buyer education, cybersecurity, entrepreneurial start-up endeavors and many other community projects to benefit hundreds of organizations every year.”

Independent Bank

Local leader: David Boeve, senior vice president

Year founded: 1864

Headquarters: Grand Rapids

Assets: $5.3 billion

Notable nonprofit and/or commercial customers: Names not disclosed.

Community support impact: Employees have volunteered at the Peace Ranch, Women’s Resource Center and Northwest Michigan Ballet Theatre. The leading bank in Michigan for affordable housing grants from the Federal Home Loan Bank of Indianapolis. $1.8 million awarded last year to assist projects, including Ruth Park apartments in Traverse City, Vineyard View apartments in Suttons Bay and rehabilitation of Riverview Terrace in Traverse City. Provided $50,000 in scholarships and donations to nonprofits last year.

Boeve on community support efforts: “We support community needs our employees are passionate about, including affordable housing, food insecurity, mental health, youth sports programs and social welfare organizations.”

First Community Bank

Local leader: Anthony Palumbo, community bank president-Traverse City market

Year founded: 1905

Headquarters: Harbor Springs

Assets: $420.4 million

Notable nonprofit and/or commercial customers: Northern Michigan Supportive Housing

Palumbo on community support efforts: “We like to serve the low-income housing sector as we believe there is a great need in our community.”

First National Bank of America

Local leader: Todd Gignilliat, vice presi-

dent

Year founded: 1955

Headquarters: East Lansing

Assets: $5.3 billion

State Savings Bank

Local leader: Dan Druskovich, regional president for Traverse City and Suttons Bay Year founded: 1896 Headquarters: Frankfort

Assets: $375.2 million

Notable nonprofit and/or commercial customers: A number of notable nonprofits and businesses; names not disclosed.

Community support impact: “We listen to what our employees are passionate about. Instead of supporting one or a few entities at a major level, we do our best to support many causes, but always local.”

Druskovich on community support efforts: “We support our people when they choose to volunteer for local organizations. For example, Ian Hollands, who I work with in our Traverse City office, has served as president of the National Cherry Festival Board and continues to be closely involved with the festival. A lot of our people volunteer locally; we encourage them to do that. It’s an important part of who we are.”

West Shore Bank

Local leader: Sid Van Slyke, vice president and market leader

Year founded: 1898

Headquarters: Ludington

Assets: $742.4 million

Notable nonprofit and/or commercial customers: Dozens of local nonprofits; names not disclosed.

Community support impact: Donated $239,000 in 2023 to nonprofits in the bank’s six-county service area. Bank team members put in 2,300 volunteer hours serving communities in those counties. West Shore also offers a “community engagement room” in its Traverse City office for use by community organizations at no charge. The room hosted 107 events last year.

Van Slyke on community support efforts: “We take our role as a community bank very seriously. It’s more than just being available for banking needs; it’s doing our part to improve the community we live and work in. We’re fortunate to have 28 team members here that all understand and live that belief.”

Melissa Schaub | Manager

PNC Bank

Mercantile Bank

Local leader: Scot Zimmerman, community bank president

Year founded: 1997

Headquarters: Grand Rapids

Assets: $5.2 billion

Notable nonprofit and/or commercial customers: The bank serves a number of organically grown and transplanted locally domiciled businesses and a handful of impactful community organizations; names not disclosed.

Community support impact: Sponsorships and donations to the following organizations – Traverse Connect, Women’s Resource Center, Father Fred, Cherryland Humane Society, Veterans in Crisis, Grand Traverse Industries, Leelanau Chamber of Commerce, Suttons Bay Chamber of Commerce, Munson Healthcare Foundations, Northern Michigan College, Traverse Area Community Sailing.

Zimmerman on community support efforts: “Mercantile Bank’s community support is directed to local organizations that have a close relationship with those served, with the support meant to have an immediate impact on those in need, with a special focus on hunger, safety, shelter and healthcare. We also support undertakings that make our community strong and improve the quality of life for all.”

TBA Credit Union

Local leader: Karen Browne, president and CEO

Year founded: 1955

Headquarters: Traverse City

Assets: $343.7 million

Notable nonprofit and/or commercial customers: Veterans in Crisis

Community support impact: Donates to Traverse City Area Public Schools, LEAP Scholarship, Thirlby Field Banner & Scoreboard, Dry Erase Markers for elementary students. Offers a Student-Run Credit Union in nine schools, Reality Fairs in both Traverse City Central and Traverse City West High Schools.

Browne on community support efforts: “At TBA Credit Union we understand the call to service and believe we have a responsibility to make our community a better place, and it starts with our philosophy of ‘people helping people.’ Since 1955, our focus has not only been on outstanding member services but helping our community. Our entire team supports our charitable outreach through contributions and donations to over 30 local nonprofits and volunteering over 2,353 hours in 2023. In addition, we offer scholarship programs, grants, free educational seminars, our Student-Run Credit Union, high school reality fairs, community shred events, and blood drives.”

Local leader: Sean Welsh, PNC regional president for West Michigan

Year founded: 1852

Headquarters: Pittsburgh, Pennsylvania

Assets: $557 billion

Notable nonprofit and/or commercial customers: Names not disclosed.

Community support impact: Contributes to and sponsors Up North Pride, Grand Traverse Pavilions, Early Head Start Home Visiting Programs, Northwest Michigan Habitat for Humanity, Northern Initiatives

Welsh on community support efforts: “PNC’s community efforts in northern Michigan focus on early childhood education, economic development, including arts and culture, and health and human services. Through sponsorships and grants, we support community events and organizations that benefit citizens throughout the region and help northern Michigan thrive.”

4Front Credit Union

Local leader: Andrew Kempf, CEO

Year founded: 1954

Headquarters: Traverse City

Assets: $1.1 billion

Notable nonprofit and/or commercial customers: Norte, Big Brothers Big Sisters of Northwestern Michigan, TART Trails, Make-a-Wish Michigan, Lakeshore Habitat for Humanity

Community support impact: Donated $202,984.89 to local community organizations in 2023. Volunteered over 2,000 hours that benefited more than 100 organizations. The 4Front Foundation awarded $45,000 in grants and scholarships to high school graduating seniors last year.

Kempf on community support efforts: “Investing in our community is the greatest investment we can make, and it’s the credit union difference. Because when our community thrives, we all thrive. It’s not just about building a stronger financial future, it’s about building a stronger community, one member at a time.”

Making switching banks less painful for 107 108 years.

Forest Area Credit Union

Local leader: Alex Lutke, CEO

Year founded: 1983

Headquarters: Fife Lake

Assets: $238.3 million

Notable nonprofit and/or commercial customers: Not disclosed.

Community support impact: $15,000 to graduating high school seniors. A “humanity fund” that provides financial assistance to Forest Area Credit Union members dealing with catastrophic life events. Sponsors youth financial literacy programs. Donated more than $100,400 to community organizations last year.

Lutke on community support efforts: “Our commitment to our communities is ingrained in the culture of our credit union and goes way beyond financial services; it’s about nurturing relationships, fostering growth, and empowering individuals to thrive. Together, we’re not just building a stronger credit union; we’re building stronger, more resilient communities for generations to come.”

Team One Credit Union

Local leader: Martin Hall, branch manager

Year founded: 1935

Headquarters: Saginaw

Assets: $738.4 million

Notable nonprofit and/or commercial customers: Names not disclosed.

Community support impact: Donations to various food banks, Father Fred Foundation, Leelanau Christian Neighbors. Michael’s Place, Northwest Michigan Habitat for Humanity, Crooked Tree Center for the Arts, National Cherry Festival. Focus on supporting children, students, veterans, homeless and food banks.

Hall on community support efforts: “The largest community impact program would have to be our level of corporate sponsorship of the Cherry Fest. We know, of course, how much this annual festival brings in to the community and how much is given back through the form of proceeds and sponsorships. Team One genuinely cares about being in Traverse City and making a positive impact on all of the communities we serve. Our staff cares about not only our members but our neighbors and are here to make our community happier, healthier and more prosperous.”

MSUFCU Credit Union

Local leader: Marie Charbonneau, assistant vice president of branches

Year founded: 1937

Headquarters: East Lansing

Assets: $7.7 billion

Notable nonprofit and/or commercial customers: McMillen’s Custom Framing, Strathmore Group, Edge 72, Socks Construction, 20 Fathoms

Community support impact: Philanthropic partnerships with Michael’s Place, Traverse City Opera House Women’s Resource Center, Habitat for Humanity. Has contributed more than $68,000 to local organizations and events since January 2023.

Charbonneau on community support efforts: “Our employees care deeply about the Traverse City Community and doing their part to create vibrant and thriving neighborhoods. In addition to corporate giving, employees donate from their personal wealth and volunteer their time with local charities. Our teams are proud to give back, anything from framing walls with Habitat for Humanity to cleaning up flower beds with the Women’s Resource Center.”

Lake Michigan Credit Union

Local leader: Carolyn Brooks, branch manager

Year founded: 1933

Headquarters: Grand Rapids

Assets: $12.9 billion

Traverse Catholic Federal Credit Union

Local leader: Patty McManus, president and CEO

Year founded: 1950

Headquarters: Traverse City

Assets: $89 million

JPMorgan Chase Bank

Local leader: Julie Hunko

Year founded: 1799

Headquarters: New York City

Assets: $3.4 trillion

Northwest Consumers Federal Credit Union

Local leader: Tina Steed

Year founded: 1952

Headquarters: Traverse City

Assets: $28.6 million

By Claudia Rodriguez, columnist

The SECURE Act, which stands for Setting Every Community Up for Retirement Enhancement, was enacted in 2019 with the aim of improving retirement security for millions of Americans. As we step into 2024, it is important to understand the impact of this legislation on employers. The following are some of the key provisions of the SECURE Act and how they have impacted the responsibilities and options available to employers.

Expansion of Eligibility and Participation

One of the significant changes brought about by the SECURE Act is the expansion of eligibility and participation in employer-sponsored retirement plans. Previously, part-time employees were often left out of such plans. However, the act now requires employers to allow long-term, part-time employees who work at least 500 hours per year for three consecutive years to participate in retirement plans. This presents a challenge for employers to manage increased participation while ensuring the financial feasibility of the plans.

Adding Emergency Savings Plan Provisions

In an attempt to address Americans’ overall lack of savings, SECURE 2.0 offers two key provisions. First, effective 2024, plan participants are permitted to take up to $1,000 as an in-service withdrawal in a year for certain emergencies without paying an early withdrawal penalty. Participants can only do this every three years, unless certain requirements are met. The second provision allows plans to establish employee emergency savings accounts with a cap of $2,500. The intention is to provide non-highly compensated employees easy savings access with at least four fee-free withdrawals per year. The contributions must be made on an after-tax Roth basis.

More Complicated Catch-Up Contributions

Due to its complexity, this provision

The SECURE Act 2024: A new deal for employers and employees

was extended until Jan. 1, 2026, but important to note now. Catch-up contributions for those who are 50 and older and earned $145,000 or more in the prior year must be made as Roth contributions – whether their regular contributions are pretax or not. This adds administrative complexity for employers around compliance as well as an effort to determine which employees meet the earnings threshold. If your plan does not already offer a Roth option, you will need to consider establishing one to allow catch-up contributions to be made.

Automatic Enrollment and Escalation

To address the issue of employees not saving enough for retirement, the SECURE Act promotes automatic enrollment and escalation features in retirement plans. Employers are encouraged to adopt these features to increase employee participation and contribution rates. By automatically enrolling employees into retirement plans and gradually increasing their contribution rates over time, employers can help employees build a more robust retirement nest egg.

Lifetime Income Provisions

Recognizing the need for retirement income security, the SECURE Act includes provisions to encourage employers to offer lifetime income options

within retirement plans. Employers now have a fiduciary safe harbor, which protects them from liability when selecting a lifetime income provider. This encourages employers to include annuity options in their plans, providing participants with a reliable stream of income during retirement.

Safe Harbor 401(k) Plans

The SECURE Act introduced changes to Safe Harbor 401(k) plans, providing employers greater flexibility. The act allows employers to amend their plans to include safe harbor provisions at any time before the end of the following plan year, eliminating the need for costly mid-year changes. This flexibility empowers employers to make adjustments based on their business needs without compromising compliance.

The SECURE Act, as of 2024, has significantly impacted employers. From expanding eligibility to increasing flexibility in making changes, the act has brought about changes requiring careful consideration and strategic decision-making from employers. Employers can navigate the evolving retirement landscape and understand and adapt to these changes by working with a strong team.

Claudia Rodriguez is a financial advisor with Horizon Financial specializing in retirement plans for employers and financial planning for individuals and families.

As an employer, what can you do to ensure you are compliant?

• Meet with the financial advisor on the plan annually. They should be your quarterback in managing the plan.

• Make sure you are working with a strong third-party administrator.

• Work with a reputable record keeper.

• There must be clear communication between all parties.

• If you don’t know, ask.

• You have an opportunity to make an important difference in your employees’ lives and help provide them with a secure and prosperous future. Make sure you have a team doing the same for you.

A NUMBERS GAME

Female financial advisors on their growing field and how times have changed

By Art Bukowski

A bit more than half of the nation’s population is female, and women comprise slightly less than half of the nation’s workforce. That’s tens of millions of women out there every day earning a paycheck.

And while the share of working women has remained relatively steady in recent years after increasing dramatically in the second half of the 20th Century, gender representation remains far from equal across career paths.

Studies show that typical white-collar careers tend to have more diversification than other trades, with big gains over the last 25 years in the fields of law, veterinary science, commercial and industrial design, sales management and more. But certain careers continue to be very much dominated by men, particularly in the financial sector.

Depending on the source, only 15-30% of financial advisors are women, with a trend toward a smaller percentage in smaller markets. This figure is particularly striking considering that women have comprised a much higher percentage of the workforce for decades, with many of them having their own money to manage and an increasingly strong desire to have their voices heard in the financial planning process.

The TCBN sat down with some local female financial advisors (and one trust relationship officer) to get their take on what they bring to their profession and why they’d like to see more women in the office.

Wolves on Wall Street?

It’s not hard to understand how it got this way. Many careers tied to banking and finance have an undercurrent of machismo that made the entire field less appealing to most women, local advisors say.

“I think when people think about our industry, they think about stockbrokers, the wolf of Wall Street type of thing, with aggressive pushing to buy or sell this stock or product,” said Barbara Shellman, a Traverse City-based financial advisor with Stifel Investment Services. “It’s just not an industry that, generally speaking, a lot of women would find appealing.”

Because financial advisor roles traditionally involve a lot of selling, the corresponding high-pressure sales environment also has done no favors for gender diversification.

“When I came into the business, it was very cutthroat. I had no salary, no income, unless I sold something. You would make 30 calls a day; cold call people,” said Holly Gallagher, a 33-year veteran who now runs an all-women team at Horizon Financial in Traverse City.

“The industry has evolved, but a lot of big firms are still looking for someone who is a rainmaker or salesperson to produce or get assets.”

But things have changed. Yes, sales are still a part of the job and always will be. But an increased focus on a genuine connection with clients creates a situation where women might find the job much more appealing, Shellman says.

“Yes there’s a sales component, but I

Shellman

“More women are in the workforce in general. They’re making their own money and feeling a much larger sense of ownership compared to years ago. And I think for the same reason that women like going to a female doctor, women are just more comfortable working with women.”

– Barbara Shellman, Stifel Group

tell women not to be afraid of that, because the most important thing is relationships,” Shellman said. “We’re not here aggressively pushing a product and moving on to the next client. It’s not transactional. It’s all about building those lasting relationships.” Gallagher also says her firm is a good example of making room for highly skilled women who might not be sales

driven, but still can provide excellent value for the business and for clients through analysis and other tasks.

Trust is key

And while the field likely is more appealing to women in recent years, perhaps the more notable fact is that women pos-

sess innate traits that can help them not only survive, but thrive in this increasingly relationship-driven business.

Certain studies have shown women to have better listening skills, for instance, and they are often perceived to be better at – or at least place a stronger premium

“I think we’re more aware of interpersonal things like the importance of listening and even nonverbal communication,” she said. “You’re picking up on people’s personalities, the things that aren’t being said, the body language.”

Regina Jaeger, senior trust relationship

the field just makes sense from a business perspective.

“More women are in the workforce in general,” Shellman said. “They’re making their own money and feeling a much larger sense of ownership compared to years ago.

And I think for the same reason that women

think they understand that more women in the industry helps the industry overall. It’s not an old boys network anymore –they have all realized that we’re here and we’re here to stay.”

More women are entering the field than ever before, with some predicting

Rodriguez and Gallagher

Jaeger

TBACU

By Rick Garner, columnist

. Several years back, the Tax Cuts and Jobs Act nearly doubled the standard deduction while restricting the state tax deduction. A significant number of taxpayers shifted from itemizing deductions to claiming the standard deduction. As a result, you may not be receiving the incremental tax benefits from your charitable contributions as in the past. If you like the idea of helping others, a handful of strategies exist to help you give more while paying less in taxes.

The most direct approach: gifting appreciated stock or mutual funds directly to a charitable organization. These appreciated investments have untaxed gains and by gifting them, you avoid having to pay capital gains tax on the investment’s growth. This type of gifting directly translates into the goal of gifting while also receiving a tax deduction.

However, an investor may still desire a stream of income while being charitably inclined. It is possible to generate income from those appreciated securities before they are donated by establishing a charitable reminder trust (CRT). The first step is to create the trust. Assets are then put into the CRT and the charity or charities that will ultimately benefit are chosen. Beneficiaries of this irrevocable trust are required to receive between five to 50% of the income annually for not more than 20 years – after which time the assets are distributed to the predetermined charity or charities.

If generating income is not your goal, perhaps a donor advised fund (DAF) is better suited. A DAF is an irrevocable transfer of assets, often highly appreciated securities, with the specific intent of funding charitable gifts. Rather than declaring charitable beneficiaries, the DAF architecture provides simple, flexible and efficient ways to manage charitable giving. One of the biggest benefits is the ability to gift a lump sum to the DAF to offset a particularly high tax bill. The lump sum donation can then be spread across multiple gifts (grants) for many years – as long as the assets last. As donor, you direct the grant recipient, grant amount and the

Give More, Pay Less: Tax-intelligent charitable giving strategies

timing of when the charity received the funds. This strategy can also be used to create a family gifting legacy.

Already in your retirement years? A qualified charitable donation (QCD) allows the transfer of up to $100,000 in tax-deferred retirement savings to the qualified charity of your choice, tax-free. Instead of liquidating pre-tax IRA assets, paying taxes and then donating the proceeds, you simply donate the money directly and avoid the taxable event. QCDs are both exempt from income tax and not reportable as adjusted gross income on a tax return. As a result, they can be used to offset required minimum distributions. A retired investor can start using QCDs to their advantage at the age of 70 1/2.

Lastly, charitable contributions can be bunched – using a combination of any of the previously mentioned techniques –into a larger lump sum once every couple of years. The intent here is to exceed the

standard deduction once every few years with a large charitable contribution,

A qualified charitable donation allows the transfer of up to $100,000 in tax-deferred retirement savings to the qualified charity of your choice, tax-free.

allowing you to itemize your deductions and receive an incremental tax benefit. In off years, you simply take the stan -

dard deduction.

Working with a Certified Financial Planner™ can help you maximize your charitable impact while optimizing your tax situation. Your tax-savvy financial professional will help you determine which strategy or strategies will most efficiently meet your charitable and personal financial goals.

Rick Garner, CFP® is the director of wealth management and a CERTIFIED FINANCIAL PLANNER™ at DGN Wealthcare, LLC. Contact him at RGarner@ DGNCPA.com. Securities offered through Avantax Investment Services, member FINRA, SIPC. Investment advisory services offered through Avantax Advisory Services. Avantax affiliated financial professionals may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

TITANIC TRANSFER

How trillions in generational wealth shifts could affect charitable giving

By Craig Manning

The New York Times called it the greatest wealth transfer in history.

According to Cerulli Associates, a Boston-based consulting firm, some $84 trillion is set to change hands over the course of the next two decades, most of it driven by baby boomers inching into their twilight years. Per the Cerulli Associates report, most of that money will be handed off to heirs. But a whopping $12 trillion is expected to go to charity – a massive, unprecedented windfall that could reshape the futures of countless nonprofits, foundations and endowments.

As this titanic transfer of wealth draws nearer, it begs an important question: How have the trends in charitable giving been shifting from generation to genera-

tion? As they divest themselves of wealth, will boomers follow in the footsteps of their parents and grandparents, or will their preferences for end-of-life philanthropy diverge significantly from those of the greatest generation or the silent generation? And looking past the baby boomer windfall, how might younger generations redefine charitable giving – especially given the fact that those generations are, for the most part, statistically less well-off than their parents?

To get the answers, the TCBN connected with Alison Metiva, chief operating officer of the Grand Traverse Regional Community Foundation (GTRCF). As a key hub for giving in northern Michigan, with more than 150 endowments across the five-county region, GTRCF and its team know a thing or two about the world of philanthropy. The organization has also

been around for more than three decades, which means it has rubbed shoulders with various generational cohorts – and watched giving trends change as those generations have ebbed and flowed.

“The base for GTRCF was really built by the greatest generation and the silent generation,” Metiva said. “Most of those folks have passed away now, but the assets that we’re stewarding now were largely built by that generation. And their approach was usually to give to an endowment really focused on specific causes or organizations. Their giving was very directive, in that way: They identified specific things that they wanted to make sure were supported over time.”

In the past 10 years, Metiva says there’s been a noticeable move to expand away from that specific, directed giving toward

something else – something she attributes to generational shifts.

“It’s not as much, ‘I want to support very specific causes’ anymore,” Metiva explained. “Like, environmental education in Benzie County, for example; we have a fund that someone specifically endowed for that purpose. Instead, the lens has been broadening. Now, people say, ‘I still want to make sure specific causes are supported, but also I know that as an individual donor, I don’t know what all the needs are in my community.’ And maybe more importantly, it’s ‘I don’t know how those needs are going to change over time after I’m no longer here.’ Organizations like GTRCF can help with that, because we’re scanning for the greatest needs all the time, and we’re adapting as needs change.”

Charitable giving is evolving in other ways, too – and not just as it relates to end-of-life gifts. Metiva says one of the biggest changes among younger generations has been a diversification of the ways in which people contribute to charitable causes and efforts.

Traditionally, Metiva notes, philanthropy has been defined by the three T’s: time, talent, and treasure. Those three words have long encompassed the three main ways that people give back to their communities.

Starting with Generation X and continuing on with younger cohorts, Metiva says she is starting to hear about two additional T’s – ties and testimony – being added to that list.

“Ties has to do with your network and your connections, and testimony has to do with advocacy or using your voice to support a cause,” Metiva said.

One reason for that particular shift could be that younger generations simply have less time and less treasure (read: cash) to give to charity than their parents did. Studies suggest millennials will be the first generation to earn less than their parents did. Combine that bombshell with other factors – inflation, rising cost of living, and a mounting childcare crisis, to name a few – and Metiva says it’s hardly a surprise that younger people have had to adapt to find ways of still supporting the causes they believe in.

In other words, even if younger generations have less net worth – and less disposable income – than their forebears, they are still finding ways to give back.

Thanks to the internet and social media, for instance, younger generations have platforms and bully pulpits their parents lacked, and are using those stages to spread the word about their favorite causes – hence the addition of testimony as one of philanthropy’s core T’s.

As for ties, Metiva says that because younger generations are still working,

they still have that valuable professional network that their parents maybe don’t have anymore, and they are bringing those connections to bear on their philanthropy.

Similarly, Metiva notes that Gen Xers and millennials have proven themselves particularly adept at leveraging payroll deductions and company match programs to maximize their giving – another example of professional ties manifesting impactfully within the charitable giving space.

While philanthropy has changed in some ways, Metiva says there’s evidence to

their lives where they have more discretionary dollars to give.

“There was a study last year by Giving USA, and it said the millennial generation had the largest increase of giving among all the generations for the year,” Metiva said. “So, that’s a big indication of growth of giving there.”

Metiva says those indicators of expanding support from younger generations are heartening, as they offer assurances that the bottom won’t simply fall out of the philanthropy world when the uber-wealthy baby boomer generation is no longer

“They’re often giving small amounts on a regular basis, versus writing a check at the end of the year to make some tax threshold, like an older generation might have done.”

– Alison Metiva, Chief Operating Officer, Grand Traverse Regional Community Foundation

suggest that younger generations are getting closer to the traditional three T’s as they get older. For example, she points to research that shows Gen Xers are starting to have more time for philanthropy, and are “really finding their footing in terms of giving their time.”

“I looked at our board of directors (at GTRCF), and 45% of our board is aged 45 to 70. So that’s Gen X and a little bit into boomer, but it definitely signals that this generation is at an age where maybe other dynamics are freeing up their time to serve on boards or get more involved,” she said.

Research also suggests that Gen Xers and millennials are rapidly increasing their financial support of charities, Metiva says, suggesting that those generational cohorts are perhaps getting to the point in

around. Still, Metiva says she is adamant that organizations which rely on generosity make a point of understanding the giving psychology of younger demographics. While those generational cohorts might be giving more as they age, that doesn’t mean they’re giving in the same ways – or for the same reasons – that their parents or grandparents did.

Two particularly notable shifts? One, younger donors really want to give in ways that align with their values. Two, younger people are more likely than older generations to give directly to causes.

Metiva credits this growing level of giving discernment to all the other factors that the millennial generation is balancing and figuring out – including inflation, cost of living, and the question of what sort of financial resources they

actually have to give.

As a result, Metiva says, millennial donors are doing their homework to make sure they are only supporting causes they believe in on a moral level, for instance. They also want to know where their money is going, that it actually is making a difference, and that they can trust the people they are giving it to.

For these reasons and more, Metiva says peer-to-peer fundraising is especially popular among millennials, simply because it allows the option of giving directly to the people who need help, rather than giving to an organization and then hoping that money trickles down to the people in need.

Even when millennials do give to nonprofits, their giving patterns differ from previous generations.

“They’re often giving small amounts on a regular basis, versus writing a check at the end of the year to make some tax threshold, like an older generation might have done,” Metiva said.

Going forward, Metiva says she expects that finding ways to win the favor of millennials and their picky philanthropic preferences will be crucial for organizations of all shapes and sizes. While the great wealth transfer of the coming decades will bring a windfall in giving – GTCRF itself already has 45 documented future gifts via estates – the day will eventually come when younger demographics need to be the lifeblood of philanthropy.

Preparing for that day might mean changing to support new styles or preferences of giving, but Metiva stresses that it will also involve staying true to the one thing that always stays the same about giving, no matter the generation.

“At the end of the day, folks just want to know that their giving is making a difference and that they are having an impact within the communities that they love,” Metiva said.

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“We strive to bring hope and enrich the lives of those who come to Father Fred seeking help, treating each person with dignity and respect.”

- The Father Fred Foundation

By Eric Braud, columnist

Most of what we do every day comes from habits driven by thoughts and emotions. Even the most successful investors sometimes experience feelings of stress or excitement when they deal with money. Take a moment to think about what you do each morning. Do you pop out of bed right away or take your time easing into the day? Do you take a shower before or after breakfast? You may not even notice these things unless someone points them out to you. They are learned responses that guide you through life, and they can greatly influence your decisions.

Researchers have discovered that the same idea applies to money. How you see, feel, and think about money shapes how you deal with it, talk about it, and work toward your financial goals. Regardless of your level of wealth, we all have what’s called a “money script” and, undoubtedly, the financial decisions we make from that script are influenced by our emotions. Let’s dive deeper into the origins of our money habits and explore ways to keep emotions out of the script.

The Money Script

With all financial decisions, but especially with bigger-ticket items like homes, vehicles, or vacations, it’s wise to remain rational and carefully consider potential consequences before pulling the trigger. Do you sometimes find it challenging to remain disciplined or patient when making large (and usually exciting) purchases? You’re not alone. These feelings are often tied to the emotional and psychological baggage we carry around relating to our money – otherwise known as our money scripts. And, as with most of the baggage we’ve lugged into our adult lives, these scripts usually start forming at a very young age.

Even though we may not be aware of it, we spend our childhood picking up on how our parents and other significant role models relate to and handle money, and over time, our brains are subconsciously trained to respond in similar ways. As a successful investor, perhaps your parents were confident in their ability to make wise investments, and that habit passed

THE MONEY SCRIPT:

Don’t let your emotions control your wealth

down to you. Contrarily, someone else who experienced their parents scrounging to get by and often quarreling over expenses likely has some pretty strong feelings of guilt when making certain purchases.

The seeds of money scripts are planted in childhood, watered by observation, and eventually grow to influence your emotional beliefs about finances as an adult. For this reason, it is vital to be intentional and diligent in talking to your kids about money and modeling healthy financial behaviors. It is just as important to take the time to examine yourself and understand your money scripts and how they influence your financial behavior.

The Negative Side of Money Scripts

To be fair, not all money scripts are bad. Some behaviors we learn plant seeds for beneficial emotions about finances. However, other behaviors, such as money avoidance, focus on financial status, or the idolization and even worship of money, can be flat-out detrimental. Unhealthy emotions and belief patterns can lead to all kinds of financial problems, such as financial infidelity, compulsive buying, pathological gambling, and financial dependence. Certain money scripts have been tied to lower levels of net worth, lower income, and higher amounts of revolving credit.

Those may sound extreme, but have you ever let panic during a market downturn take your focus off of your long-term investing plan? Have you ever been unable to make a decision because you were paralyzed with worry and anxiety about the future? Have you ever wreaked havoc on your budget for the

momentary high of acquiring something you really wanted? All of these behaviors stem from your personal money script.

Money Scripts Can Be Changed

It seems that no matter how big our accounts may get, we still think that if we just had more, our stress and worry would disappear. But our anxiety around finances is more about how we approach money, not necessarily because we don’t have enough. This is good news! Even if our income doesn’t continue to increase exponentially, we can learn to control our attitudes and perceptions. Our money scripts may be ingrained from childhood, but they are not permanent. With a focused and concerted effort, they can be changed.

The first step you must take in rewriting your money scripts is to identify them. To do this, you must become aware of your emotional responses to common financial situations. Start taking notice of your emotional responses to these common experiences among high-net-worth individuals:

• Assessing your risk

• Inflation

• Safeguarding your wealth

• Unexpected global events

• Making big financial decisions

• Volatile markets

• Healthy markets

• Changing tax codes

How do these things make you feel? Anything that elicits strong emotions warrants further reflection. Keep in mind that negative emotions are not the only ones that can harm your financial life. Some positive emotions, like optimism and self-confidence, can

bring about negative results if unwarranted and left unchecked.

How to Manage Emotional Money Decisions

The key to changing your money scripts and developing healthier money habits is learning to control your emotions. You can also build some new, healthy habits that shield you financially and incorporate them into your life. Habits and disciplines such as scheduling regular meetings with your advisor and enlisting the help of someone reliable to keep you accountable are great places to start. Eventually, you will learn how you respond to emotional triggers and you can then take steps, like mandating a “cooling off” period for yourself, before making any decisions.

Finally, you need to be willing to forgive yourself when you make mistakes. Leave the past in the past and move forward with the new knowledge you have gained. Choosing to forgive yourself for past mistakes frees you up to be more effective with your new tools. As you begin to collect victories, both big and small, you will likely find it even easier to extend forgiveness.

Eric Braund, CFP®, CRPC® is the founder and CFO at Black Walnut Wealth Management, a financial advisory firm providing counsel and fiduciary financial services to individuals, families, and private foundations throughout the Traverse City and northern Michigan region. Contact him at (231)421-7711 or visit BlackWalnutWM.com. He is an Investment Advisor Representative with Dynamic Wealth Advisors dba Black Walnut Wealth Management. All investment advisory services are offered through Dynamic Wealth Advisors.

‘DESPERATE PEOPLE DOING DESPERATE THINGS’

Steps employers can take to deter employee theft

By Art Bukowski

Nearly every business has at least some systems in place to guard against theft, internal or otherwise. And many of these safeguards seem like relatively common sense, all things considered.

But employee theft – ranging from minor, spontaneous cash grabs to systemic and calculated embezzlement of many thousands of dollars – has long been a very popular crime in the Grand Traverse region. In short, those common-sense controls evidently aren’t common enough to prevent case after case of this bothersome and damaging transgression.

“It’s not rare at all,” said Kyle Attwood, chief assistant Grand Traverse County prosecutor. “It feels like almost weekly that we have a check (fraud) case in a business context. Living in northern Michigan, we might have this notion that we’re insulated from this kind of stuff, but that’s not the case.”

And while a forged check or sticky fingers at the till can certainly be problematic, it’s the long-term, methodical thefts that can spell doom for businesses. There have been multiple cases in the region within the past five years alone in which an employee managed to steal $100,000 or more before eventually being caught. What’s worse, such embezzlement is often (though not always) carried out by some-

one who has a very high amount of trust.

“We’ve seen it several times where there’s a small family business with a long-standing employee who is basically like a member of the owner’s family, and they steal from them to the extent that their business is jeopardized,” Attwood said.

An ounce of prevention

First off, many smaller transgressions can be prevented by something Attwood acknowledges many businesses are uncomfortable with: security cameras.

“If you have cameras where there’s a point of sale or where people have access to cash or check writing, having eyes on that area is a good deterrent up front,” Attwood said. “And then if we have to unwind something after a crime has actually been committed, it helps narrow down suspects and lead the investigation.”

And while someone’s past behavior is no surefire indication of their future performance, Capt. Chris Clark of the Grand Traverse Sheriff’s Office Investigative Division says it’s always a great idea to head over to Google and check out potential new hires. It’s surprising what a few mouse clicks can tell you, he said.

“Sometimes it’s the simple things like doing some sort of background check on a person before hiring,” he said. “Plenty

“You should be transparent about your systems. If employees know that you have those systems in place then they may be less enticed to do something that they normally wouldn’t do.”

– Capt. Chris Clark, Grand Traverse Sheriff’s Office Investigative Division

of these resources are available to you, even if you’re just checking them on social media.”

Attwood says this is an especially good practice before hiring contractors, who often will simply pack up shop and move to new territory after causing trouble elsewhere.

“You’ll see people that hire contractors, and then after they are victimized they’ll go online and find 15 judgments against them,” he said. “Had they done that work up front they would have saved themselves the aggravation of losing the money.”

Many large embezzlement cases follow a relatively familiar pattern. A trusted

employee with no criminal history begins to take money while under duress for one or more of a variety of reasons. Maybe it’s high medical bills or an overdue mortgage. Perhaps there are substance abuse or gambling problems. In any case, they take a little, and, after not getting caught, take more and more.

And while there’s certainly no excuse for embezzlement (which at $1,000 is a felony crime in Michigan), officials suggest a strong and open relationship with employees can help head off problems before they happen. Regularly checking in on employees’ well-being, while probably

the right thing to do regardless, can also give insight into the stresses that turn otherwise normal people into potential criminals.

“You should get in the habit of engaging with your employees to see how they’re doing in life, and a lot of times you can see those triggers that may cause them to embezzle,” Clark said. “Those personal matters can play a big role.”

Because those that steal usually enjoy trusting relationships, the situation often goes on for months or years before being uncovered. Having trust in people is good, but trusting while verifying is even better. No amount of trust should ever lead to a situation in which checks and balances are disregarded, Attwood says.

“Don’t assume that just because you’re close to somebody and that you’ve treated them well that they’re not capable of theft,” Attwood said. “When the chips are down and people are desperate, you’ll see desperate people do desperate things.”

Systems can help

A plan to “trust but verify” is much easier with basic systems in place to deter and detect financial malfeasance.

The most effective safeguards may seem the most obvious, but they’re missing in enough cases to make investigators scratch their heads. No one person should have

total control over the books, for example. Several sets of eyes within a company can and should examine financial records on a regular basis, Attwood says.

“You have to have more than one person keeping an eye on things to verify that everyone is on the up and up,” Attwood said. “Periodic check-ins and verifying that the books are what they appear to be can be invaluable in preventing years’ worth of theft.”

As another example, multiple people should be signing or viewing checks. Authorities suggest dividing responsibilities, with different people writing, signing and reconciling checks. Different people can also be responsible for receiving and depositing payments or handling other matters. The more people involved, the harder it is to effectively conceal wrongdoing.

Unfortunately, many systems are often circumvented for the sake of expediency or convenience, says Attwood.

“A lot of times you’ll have businesses where the system will be set up where everybody has their own unique login, so if somebody does something in a system that’s nefarious, you can identify who that was,” Attwood said. “But a lot of times to make things easier, people will share logins. Once you start sharing logins, the whole safety system is useless.”

Regularly talking about these safeguards can also be a very strong deter-

“Don’t assume that just because you’re close to somebody and that you’ve treated them well that they’re not capable of theft. When the chips are down and people are desperate, you’ll see desperate people do desperate things.”

–

Kyle Attwood, Chief Assistant Grand Traverse County Prosecutor

rent, Clark says. “You should be transparent about your systems,” Clark said. “If employees know

that you have those systems in place then they may be less enticed to do something that they normally wouldn’t do.”

By Dennis Prout, columnist

As I consider 2024 and reflect on the fundamentals of successful retirement planning, some key points stand out in my mind.

With almost 40 years of experience walking with clients through their planning and into retirement, I have encountered much. Here are some of the major components to consider as you look at your own retirement planning. I truly love how timeless they are and empowering for those who employ them; I utilize them myself!

1. What are my basic expenses?

Many people just don’t know what this number really is. Really, they do not. Food, clothing and utilities are a few components, but when you know these, you’ll get what most others don’t … and that is power. This is especially important as you enter the fixed income phase of retirement, and why we run a simple financial plan for each of our prospective clients to help them see how these expenses will be covered.

2. When would I like to retire? Am I flexible?

Some people will never retire. Many others, however, have a date/age that works for them (they hope). Your ability to be flexible is extremely helpful and can move you to a much better statistical chance of success. Flexibility doesn’t mean you have to stay in a job you hate, but it might mean you’re willing to work part-time or be open to derivations of your current career to allow you to finance not only your needs but also your wants throughout retirement.

3. What is my life expectancy?

This question is inherently difficult for most because, frankly, it makes people uncomfortable, especially given the many uncertainties we face in life. What I tell most clients is to plan for longer. Longer than your ancestors, of course. So, depending on your current health, plan on longer often than you estimate initially. This can be very helpful as you think about retirement, but it can also give us planners a hand in seeing how long your money needs to last.

7 KEYS TO SUCCESSFUL RETIREMENT Financial planning fundamentals to utilize throughout the year

4. Do I want to work in retirement?

You may be surprised how difficult it is to hang around the house when, prior to retirement, you were on the go all the time. For everyone, the scale is very different – some have so much planned at retirement they wouldn’t dream of working, while others get bored relatively quickly and need the challenge of the day to day. Discuss this with your loved ones and trusted friends. What do they think will make you happy? What do they see?

5. What’s important to me about money and what do I want it to accomplish for me?

Personally, I think this is the most important question of all. In essence, it’s important to know what you want your money to accomplish for you, now and in the future. For some, it’s travel. Others, it’s as simple as enjoying time away from work. And for others, it may be passing on as much as possible in the most responsible way to their heirs. This is the question of where you can (in some cases) finally think about life after the details of work, career, and maybe children all move somewhat to the background.

6. If we were to have this discussion three years from today, and you look back on those three years, what has to have happened in your life both personally and professionally for you to feel happy with your progress?

This question is from Dan Sullivan, who has coached several top-performing entrepreneurs. It is a great follow-up to the previous question. This question should also help you to zero in on your life after retirement. For some, not all components of this question may apply to you. This is another philosophical question to help you think more deeply about your future financial self.

7. Below is a table of income equivalency, which can really bring home the importance of income as it relates to retirement.

for retirement.

The following table is the present value required to generate income for 20 years and 30 years, assuming the funds earn a guaranteed 4% and the funds are fully depleted at the end of that period. It’s an aggressive illustration for sure, but it is meant to illustrate just how valuable these incomes are to you financially.

In the end, it’s up to you to solve and work through your own retirement issues to achieve success. I wish you good planning!

A client once told me, “Dennis, retirement is all about income!” Obviously, he was trying to make a point. I agree to a certain extent that it is very important to understand how much income you might be able to draw from a lump sum. But it’s more important to understand how valuable your guaranteed income sources are. Knowing the equivalent values of guaranteed income can help you in remembering how much you’ll need to save

‘AN ABSOLUTE WIN-WIN’

How the CTC’s health sciences program revived its partnership with Munson

By Craig Manning

The Northwest Education Services Career-Tech Center (CTC) is known best as a hub for skilled trades education, with programs focused on everything from auto repair to electrical occupations to construction to welding.

But the single biggest program at the CTC actually has nothing to do with what the average person would identify as “skilled trades.” Instead, the school’s enrollment leader is a health sciences program that has grown into a key talent feeder for northern Michigan’s healthcare system.

So says Pat Lamb, North Ed’s assistant superintendent of career and technical education. According to Lamb, the CTC’s health sciences program currently boasts 131 students. At its pre-pandemic peak,

Helen Osterlin was recognized as a Northwestern Michigan College Fellow in 1970. Photo provided by NMC.

the program had as many as 165 students enrolled. The CTC’s 20-plus other programs, while many of them are popular enough to have wait lists, simply can’t match those numbers.

“Even with 131 students, (health sciences) is still by far the largest program,” Lamb said. “Compare that, for instance, to our electrical occupations program. We recently doubled the size of that one to meet student demand, but we’re still only able to put a maximum of 80 kids in there, and we probably have about 70 right now. There’s about 90 in culinary arts; we have 64 in welding; and our teacher academy is at about 75. So even though I would like our health sciences program to be closer to its capacity of about 160 students, they’re still our biggest program, and the only program where we have three instructors.”

Students from the CTC’s health sciences program compete at an annual competition held by the Michigan chapter of Health Occupations Students of America.

The CTC’s health sciences program is designed to give students a strong foundation in health sciences through practicing handson skills in medical terminology, anatomy and physiology, medical ethics, infection control, workplace safety and teamwork.

Students of the program prep for eventual careers as doctors, nurses, physical therapists, paramedics, medical lab techs, veterinarians and more.

One reason for the popularity of the program, at least historically, is a partnership between North Ed and Munson Healthcare. As with other CTC programs, a core piece of the health sciences program is hands-on learning.

But where many CTC programs are able to offer that hands-on learning at the center itself – the CTC is equipped with welding bays, an automotive garage, and other facilities and equipment that provide practical learning opportunities for students – health sciences pupils have traditionally gone into actual healthcare workplace environments to get those hands-on experiences. Over the years, many of those rotations have even taken students into the hallways, operating rooms, and other spaces of Munson Medical Center.

COVID-19 threw a sizable wrench in that aspect of the program. For the past four years, pandemic restrictions at Munson drastically minimized the number of people who were allowed to enter the hospital, and students from the CTC were not an exception to those rules. Cue a massive

reduction in the workplace rotation slots available to the health sciences program.

A health sciences “placement,” Lamb explains, is “typically a work experience where a student is on a contract and they go over to Munson for a rotation that lasts roughly 47 days.” Because any given placement only lasts for part of a semester, Lamb says health sciences students would ideally get multiple different types of placements in a year.

During the 2018-19 school year, when the health sciences program had 158 enrolled students, Lamb says the program tallied 241 placements. The following school year, health sciences managed just 92 completed placements before the COVID-19 pandemic disrupted everything. Work placements for the program haven’t recovered since.

“When you go back and look at the 2020-21 school year, we had zero placements,” Lamb says. “2021-22, we had three, and those weren’t at Munson; those would have been at local doctor’s offices. Then, 2022-23, which was last year, we were back to zero.”

The reduction in hands-on learning experiences – combined with a perceived decline in the desirability of healthcare professions during the peak of the pandemic – could explain why the CTC’s health sciences enrollment numbers have dipped slightly. The program’s current

count, of 131 students, is its lowest for a single school year since 2016-17.

While Lamb says North Ed tried to fill the gaps by bringing in more guest speakers and making other curriculum adjustments, he admits that “it’s just a different learning experience when you’re at a workplace, and you’re wearing scrubs, and you’re working side-by-side with someone

aspect of the health sciences program.

“Shelley reached out, and she wanted to know past history and how our programs work,” Lamb said. So began the process of rekindling the connection between the CTC and Munson.

As it turned out, that process wasn’t as simple as putting students back on the bus and sending them over to the hospital.

“We’ve had students in on surgeries and childbirths. They’ve historically had all those opportunities over (at Munson), and that’s just such valuable experience. You obviously do what you can in the classroom, but it’s not the same.”

–Pat Lamb, Assistant Superintendent of Career and Technical Education, Northwest Education Services Career-Tech Center

that works in the hospital every day.”

Fortunately for the CTC, those on-thejob placements at Munson are starting to come back. Right before Christmas break, the CTC took health sciences students on a field trip to Munson to introduce them to the environment. Then, in January, 14 students started rotations. That number is set to grow in the months to come, Lamb says.

Lamb credits Shelley Spencer, who came on as Munson Healthcare’s chief human resources office in the fall of 2022, for helping resurrect the work placement

Enough time had passed since the partnership went dormant that attorneys from both sides had to get involved.

“There was a lot of paperwork that we had to do to get our students back in the building,” Lamb noted.

Furthermore, since the CTC had stopped depending on those Munson placements, the health sciences program needed to revive some old curriculum aspects that had fallen by the wayside –things like safety trainings, confidentiality lessons and HIPAA protocols that weren’t

as relevant when students weren’t going out into the workplace for a big portion of their learning.

Now that all that legwork is out of the way, Lamb says he is getting excited about the rejuvenated partnership with Munson and the opportunities it will bring back to the table.

“We’ve had students in on surgeries and childbirths,” he said. “They’ve historically had all those opportunities over (at Munson), and that’s just such valuable experience. You obviously do what you can in the classroom, but it’s not the same.”

The folks at the CTC aren’t the only ones excited to have the partnership back. In fact, the Munson team might be even more elated.

“Post-pandemic, as we continue to face a healthcare worker shortage both nationally and locally, we are focused on building the talent pipeline of the future,” Spencer said. “Munson’s partnership with the CTC is one valuable component of that talent pipeline strategy. Right now, we have students assigned on our nursing units at Munson Medical Center and in the pharmacy who are learning and working toward a career in healthcare while supporting their local community – an absolute win-win. And some of our own nurses and nursing leaders started at the CTC years ago, which speaks to the success of the program.”

By Art Bukowski

A local physician-owned business is out to give people more choices in healthcare – and possibly save them money in the process.

Novello Imaging opened in Traverse City’s Copper Ridge development in late 2021. The independent operation provides a full slate of medical imaging services, including CT scans, MRIs, ultrasounds, X-rays and more. Before Novello, the primary (and sometimes only) source for many of these services in the Traverse City area was Munson Medical Center.

And while they’ve been around a few years, Novello is still working hard to get the word out that Munson is no longer the only game in town.

“What this does for the community is it provides choice for patients and provides some competition in the local market,” said Marie Hooper, executive director of the Novello Physicians Organization, which created and oversees the imaging center. “We’re all better when we have to compete.”

Depending on the service and method of payment (cash is the lowest price), many procedures cost much less than they do at Munson. These savings are achieved in part by narrowing the focus to imaging alone and having much less overhead than a major hospital system.

“The hospital provides 24/7 care and has the staffing for it, and it makes sense for acute care,” Hooper said. “But if you get your imaging done in a hospital, you’re helping supplement the cost of all the other acute care you’re not using.”

Novello leaders say their imaging center is also easing the burden on Munson, which helps everybody.

“If we think of this from a community perspective, patient choice and better access also benefits the hospital system … by taking out some of those patients who could have care delivered in another setting,” Hooper said.

While all major insurance plans are accepted, many patients opt for the rock-bottom cash price (all X-rays are less than $100, for instance, and most CT scans are under $500) for a variety of reasons. Opting to pay cash means it won’t apply to your deductible, but because deductibles are creeping higher and higher, paying cash might still be the best path.

“Think of your own insurance plan. If you have high (deductible), which many insurances do, you’re paying cash anyway until that’s met,” Hooper said. “You have to think of yourself as a cash-paying patient.”

While wait times for procedures are generally shorter at Novello as a baseline, paying cash also allows patients to circumvent the need for prior approvals that are a part of many insurance plans. These approvals can drag out wait times even longer and add another layer of bothersome red tape.

CASH IS KING

Novello Imaging looks to drive down prices, increase patient imaging options

Novello reps are quick to point out that all of this talk about reduced cost should not be correlated with lower quality. The facility, only a few years old, is armed with the latest in imaging technology and staffed by the same type of qualified, board-certified professionals you’ll find at the hospital.

“We offer very high-quality imaging –it’s state of the art,” said Gail Gwizdala, a retired physician and Novello Health board member. “If you can’t do it at least as well, if not better, then you shouldn’t be doing it.”

What’s more, Novello folks are proud of their effort to bring transparency in pricing. That means one bill with no hidden fees instead of separate bills arriving for all of the people, places and equipment involved in a procedure.

“We do a global bill, which means the professional component and the technical component is all combined in one bill,” Hooper said. “These are all-inclusive charges.”

Hooper says that Novello cash prices are also easily accessible and discussed up front, giving more power to the patient.

“Would you buy some bananas at the grocery store if you didn’t even know how much per pound, and you had to wait for the bill to come six weeks later?” Hooper said.

Laura Glenn is chief operating officer for Munson Healthcare. She says that

“We offer very high-quality imaging –it’s state of the art. If you can’t do it at least as well, if not better, then you shouldn’t be doing it.”

– Gail Gwizdala, M.D., Board Member, Novello Health

until recently, it’s been “very difficult,” to pay with cash at the hospital, but Munson is rolling out their own system to allow for it. And while this move is partly in

response to the very same trends that make Novello appealing – particularly higher deductible plans – the presence of Novello and the potential for more outfits like it also played a role.

“Competition is good when it benefits the patient and the overall delivery of health care,” Glenn said. “We’re adapting to the changes in the market along with that increased competition.”

Glenn points out that Munson provides certain imaging that Novello does not, such as mammography. She also says that reducing wait times is an “area of continued focus” for Munson, either by adding capacity or improving efficiency.

Even if Munson continues to get the lion’s share of patients, Novello leaders say they hope their imaging center provides a positive disruption to the system.

“Competition can be good. When Lucky’s came into the area, Oryana focused on lowering costs and Oleson’s greatly expanded their organic, gluten-free, and vegan offerings,” said Kris Elliott, director of operations at Novello Physicians Organization. “The community benefited overall.”

Dr. Gail Gwizdala (center) with Novello Imaging staff.

From RN to CNO

Meet Munson’s new system Chief Nursing Officer

By Kierstin Gunsberg

In early 2024, Jennifer Standfest, MSN, RN, NE-BC, kicked off her new role as Munson Healthcare’s (MHC) chief nursing officer. In it, she’s overseeing policies, protocols and standards for all of MHC’s nursing community, representing 26% of the organization’s entire regional workforce across eight hospitals, plus several outpatient clinics.

Standfest’s executive leadership comes on the heels of a years-long upheaval for nurses nationwide, who took on the COVID-19 pandemic as front line workers. Locally, Munson nurses have also been advocating for lower patient loads through the Michigan Safe Patient Care Act.

But Standfest, who previously served as CNO and VP of patient care services for the system’s Charlevoix Hospital, is no stranger to the challenges of nursing. She’s coming on with more than 20 years of experience, mostly at MHC where she first started in the spring of 2003 as an RN. Two weeks into her new role, the TCBN caught up with Standfest to find out more about her goals, experience, and future of nursing in northern Michigan.

Standfest to consider it, too. Once she’d entered the nursing program at Calvin University, she says it was clear that nursing was her calling.

“It really is something that lets you use both your analytical thinking brain, your critical thinking skills and your communication skills,” said Standfest.

She says interpreting medical jargon in a way that patients could understand and empowering them to make educated decisions about their health and future based on that information sealed the deal for her.

“Once I experienced that, I just was very passionate for nursing as a discipline,” she said.

“That coordination, communication and collaboration is key. I see that as a really, really important part of my role.”

– Jennifer Standfest, Chief Nursing Officer, Munson Healthcare

“I really think that I chose nursing because of my mom,” recalled Standfest when asked what inspired her to join the healthcare field. “(My mom) had wanted to be a nurse since she was a little girl and she had delayed that career path for years until I was in high school.”

Once Standfest hit those high school years, her mom took the opportunity to finally enroll in nursing school and graduated just in time for Standfest to begin considering her own college track.

Seeing her mom achieve a life-long goal of working in healthcare motivated

After spending the first two years of her career with Spectrum Health (now Corewell Health) in her hometown of Grand Rapids, Standfest moved up to Traverse City to work as an RN at Munson. Soon, she was taking on roles beyond bedside care, including collaborative quality improvement initiatives that she says gave her a glimpse into “other things that could be accomplished within nursing.”

That’s when she says her interest in healthcare leadership and education became her focus, and “that propelled my career progression in a way that I wouldn’t have ever thought of up front.”

Even with her established familiarity and relationships at MHC and in the northern Michigan community, Standfest says she is still reorienting under a broad title and role while recognizing areas she wants to build on as the system’s CNO.

One of those areas is fostering clear communication between the nursing community and other healthcare professionals to improve patient care while supporting MHC’s nursing workforce.

“That coordination, communication and

Photos courtesy of Munson Healthcare

collaboration is key,” she said. “I see that as a really, really important part of my role.”

Though morning check-ins and other communicative structures are already in place, Standfest says she wants to experiment with bringing in other channels for listening and homing in on the concerns and input of MHC’s nurses, including participating in something called Nursing Salons.

These “salons” offer a casual and relaxed setting, often in someone’s home, for nurses to chat openly about the themes that affect their jobs and their patients while also mulling some of the ever-changing aspects of healthcare, like telemedicine.

“They’re usually more philosophical (and) about a particular topic in nursing,” explained Standfest.

Amid 2023’s reports that nearly twothirds of nurses reported feeling burned

space to innovate and advocate for positive changes in the industry while allaying some of the challenges of nursing, many of which Standfest says has reflected on in her new role.

“You have to be vulnerable as a nurse and it’s very emotional,” said Standfest. “I mean, you are feeling for your patients very deeply.”

Standfest stressed the importance of communicating not only about on-the-job topics, but also opportunities for continuing education, career growth and flexibility within the healthcare system, especially for those nurses who haven’t quite found their niche and want to explore advanced nursing paths or even just other departments.

As Standfest puts it, the differences between being an oncology, obstetrics or operating room nurse can be vast, and the role

Another goal for Standfest is to address the global nursing shortage on a local level by increasing students’ awareness of healthcare careers and the routes to attaining them.

“One of the things that I want to make sure that we’re working on and focusing on is partnering with (educators) to expose people to nursing careers,” said Standfest.

She lauded recent educational partnerships that widen the local nursing pool like the one Northwestern Michigan College made last year with Davenport University to offer expedited nursing degrees, which cut down the time between enrollment and employment eligibility.

While creating more nursing students –and graduates – is one way to fill the workforce gaps, Standfest notes that “there

fill some of the (nursing) programs.”

In response, she says MHC has participated in a program that allows its qualified nurses to simultaneously work while teaching NMC’s nursing students.

As for recruiting nursing candidates from outside the area to tackle the shortage, Standfest said there’s merit in the strategy, with MHC attracting talented and experienced professionals from all over, thanks to their in-demand locations.

Still, she says she is most interested in attracting and retaining employees from the northern Michigan communities MHC serves.

“We have a really fantastic supply of folks who are here and who are looking for good opportunities for work that’s meaningful, that’s good-paying, and that can keep them close to a place that they

People are at the heart of what we do.

At its heart, a business is about people. A group of people coming together to create something bigger than themselves. To create a solution or a product or an experience in the service of other people. At Huntington, it’s our belief that running a business is about more than making money, it’s about making people’s lives better. So let’s roll up our sleeves and get to work, together.

Photos courtesy of Munson Healthcare

By Terri Lacroix-Kelty, columnist

Working in healthcare can be incredibly rewarding and demanding. The same could be said for running a small business.

Caring for a patient comes with a tremendous amount of responsibility because what you’re doing makes such a profound impact on people’s lives. Those who own small businesses are also driven to succeed by a similar sense of responsibility to their employees, community and family. It can be a lot to carry on your shoulders and it is important to make sure the stress that comes with the territory doesn’t advance to something more serious.

Wearing all those different hats and juggling multiple responsibilities can make it easy to neglect a crucial aspect of your well-being: mental health. Staying healthy in mind and body is intricately linked to the success and resilience of your business. Neglecting mental health can lead to burnout, a state of chronic physical and emotional exhaustion often accompanied by cynicism and detachment.

Some research indicates that up to 64% of entrepreneurs are more stressed now than they were two years ago. Upward of 60% report experiencing mental health challenges and 80% feel like they work too much.

Burnout is more than having a bad day or week. It’s much more pervasive, and there are many tell-tale signs for which to be on the lookout:

1. Persistent fatigue: One of the early signs of burnout is the kind of fatigue that doesn’t improve with rest. Small business owners may find themselves constantly exhausted, both physically and mentally, even if they are getting enough hours of sleep.

2. Reduced productivity: As burnout progresses, individuals may notice a decline in their professional performance. Tasks that were once manageable become overwhelming, and the quality of work may suffer.

3. Cynicism and detachment: Small business owners are typically very positive, driven, energetic people but may start feeling disillusioned, distancing themselves emotionally from their work,

CARE PACKAGE

A thriving business starts with a robust self-care plan

employees and clients if burnout has become a problem.

4. Irritability and impatience: While a certain amount of irritability and impatience comes with being a business owner, when burnout sets in, small triggers that were previously manageable may now provoke intense emotional responses.

5. Physical symptoms: Beyond emotional and cognitive effects, burnout can also manifest physically. Headaches, gastrointestinal issues and changes in sleep patterns are common signs that should not be ignored.

There is no quick fix to finding the right balance between work and home, but self-care needs to be non-negotiable as part of your daily routine. It’s not unlike the instructions you receive on an airplane to put on your oxygen mask first before assisting others. This includes sufficient sleep, regular exercise and healthy eating habits. The bottom line is that before we can take care of others, or a business for that matter, we must take care of ourselves. There are many simple ways to do this:

1. Establish boundaries: Drawing clear lines between work and personal life is crucial for preventing burnout. Avoid temptation to work around the clock by creating dedicated time for relaxation, hobbies and

spending time with loved ones which is essential for mental well-being.

2. Delegate: Trusting others to share the load not only lightens the burden for you but also fosters a sense of collaboration and empowerment within the team.

3. Check in with yourself: It’s no different than what you would do with one

There is no quick fix to finding the right balance between work and home but self care needs to be non-negotiable as part of your daily routine.

of your employees but equally, if not more important. This can involve self-reflection, seeking feedback from trusted peers or mentors, or even better, a mental health professional.

4. Continuous learning and skill development: Keeping up with industry trends and constantly upgrading skills can help prevent burnout by instilling a sense of purpose and accomplishment. Learning new things and staying engaged in professional development fosters a

growth mindset, making challenges more manageable.

5. Cultivate a support system: Building a network of support is crucial for small business owners. This can include friends, family, mentors or fellow entrepreneurs who understand the unique challenges they face. A reliable support system provides an outlet for expressing concerns, seeking advice and gaining perspective.

6. Practice mindfulness: Incorporating mindfulness practices, such as meditation or deep-breathing exercises, into daily routine is proven to reduce stress. Even if it’s just 10 minutes, these techniques promote mental clarity, resilience and emotional well-being. There are plenty of great apps to guide you including Headspace, Calm and Healthy Minds that are among the most popular.

Prioritizing mental health is a vital investment in the sustained success of your business, and implementing proactive strategies to prevent burnout is the best way to ensure you are in a space to meet the challenges ahead. Please know your mental well-being is important not only to those who love you but all of those who benefit from the role you play in making this such a vibrant community.

Terri Lacroix-Kelty is the director of behavioral health at Munson Healthcare.

Liquid Gold: Inside Traverse City’s $60M bet on the Discovery Center & Pier

By Craig Manning

Foregone conclusion or pipe dream?

Some locals might be asking that question about a plan to position Traverse City as a globally recognized blue economy hub. But while the plan in question is ambitious, wide-ranging and expensive, the local stakeholders say they are confident their goals are not only possible, but just about guaranteed to meet with success.

That team – Northwestern Michigan College (NMC), Discovery Center & Pier, Traverse Connect, 20Fathoms and Michigan Technological University – came together in 2022 with a shared vision of building an 85,000 square-foot, $60 million freshwater research and innovation center in Traverse City. Once built, the facility will include research labs, classroom and seminar space, a startup incubator and more.

The new center isn’t scheduled to break ground at its future home at Discovery Center & Pier until late 2025. However, Traverse Connect President and CEO Warren Call says recruiting of freshwater

researchers and innovators to the region has begun.

The goal? Have the new center and its various spaces “oversold by the time it opens,” he says.

“The idea is, between now and when that first building opens, we’re working

are actually built, we’ve got a lot of momentum already going.”

That recruitment process is taking many forms. One example Call shares is a recent meeting he and NMC Marine Center Director Ed Bailey had with officials from both University of Michigan and

“Michigan Tech has a research vessel, and they’ve expressed some interest in having that down here during part of the summer. Same with Grand Valley State University and Central Michigan University. And we’ll be able to provide that dock space, not only for those large university research vessels, but also for test vessels.”

– Matt McDonough, CEO, Discovery Center

to attract those businesses, those research institutions and those entrepreneurs that are going to be a part of the center,” Call explained. “All that activity is going to be happening now and over the next couple of years, so that by the time the facilities

Michigan State University.

“We asked them what kinds of ecology, biology and water quality things they are working on that might be applicable for us to partner on with a research project here, potentially as soon as this summer,”

Call said. “Are there testing facilities or hardware at NMC that U of M or MSU could use? Those are the kinds of questions we’re asking.”

Building those relationships with educational partners is made easier by the fact that some improvements are already underway at Discovery Center & Pier. While the full innovation center won’t be built for a year and a half, Discovery Center will have new docks this fall and a new dockside learning center shortly thereafter.

According to Discovery Center CEO Matt McDonough, the improved dock space is already attracting the attention of potential partners.

“Boat space is limited in this community, so simply being able to provide that space will be a draw,” McDonough said. “Michigan Tech has a research vessel, and they’ve expressed some interest in having that down here during part of the summer. Same with Grand Valley State University and Central Michigan University. And we’ll be able to provide that dock space, not only for those large

university research vessels, but also for test vessels. So, for instance, Michigan Tech has real interest in the electrical boat field, but they need spaces to test those vessels and get them out on the water. We can be a venue for that.”

Research universities aren’t the only ones showing enthusiasm for Traverse City’s budding blue economy hub.

According to Call, Traverse Connect has had productive talks with companies and startups from across the marine industry, many of which have expressed interest in establishing some sort of presence in northern Michigan. Electric boat manufacturers, he says, seem especially ready to put down roots here.

“The electrification or decarbonization of vessels is definitely a key opportunity,” Call said. “And businesses in that space are understanding that northern Michigan is a great place to do research and development on those vessels – largely because it’s also a great place to use the boats. Then you combine that with the fact that we already have a lot of significant manufacturing, which could make it possible for those companies to build that stuff here. So, there’s clearly a great con

Between the interest of university partners and the interest of electric boat manufacturers, Call says he thinks the idealized vision of the freshwater research and innovation center is already taking shape.

“Think about a situation where we’ve got a couple of companies here that are testing new marine electrification technologies,” Call says. “They are in the center, working side by side with our university partners to develop these technologies. And then, as they are developing these new technologies, they are hiring our young people to work with them, or maybe even building some of them here. That’s a pretty cool continuum.”

There, Call hits upon the other key attribute of the new center: Once built, it will be a key tool for NMC to enhance the experiences for its students and its alumni alike.

Hans Van Sumeren, director NMC’s Great Lakes Water Studies Institute, says he’s already fielding questions about the new center from these two groups.

“From current students we’re hearing things like, ‘How can I be engaged?’ ‘I want to be a researcher there.’ ‘I want to interact with those researchers.’ ‘What

As for NMC grads, Van Sumeren says he’s gotten more than a few notes or phone calls from past students showing interest in moving back to Traverse City to be a part of the new innovation center.

just because they see the energy forming around the center. I think that’s a sign we’re going to start seeing even broader recruitment to NMC’s programs from

be a part of the new innovation center.

“It’s definitely going to be an employment attractor,” he said.

But it’s not just students or former

events like Lakebed 2030, an annual conference dedicated to the mapping of the bottom of the Great Lakes. NMC hosts that conference each year in partnership with the National Ocean and Atmospheric Administration (NOAA) and the Great Lakes Observing System, and it routinely brings a who’s who of major industries to the area. As those players start getting a glimpse of what is forming at the new center, Van Sumeren predicts some of them will be enticed to establish a long-term presence in northern Michigan.

While a strong show of support from within the marine industry is a big thing, McDonough is quick to point out that the freshwater research and innovation center has received political votes of confidence, too.

“Lieutenant Governor Garlin Gilchrist, when he visited last summer, made a point to say that this project was his ‘baby’ and that he was really championing the dollars to support this and get it going,” McDonough said. “If you go back a decade and look at the way the state was formulating plans around water, there was plenty of support for sustainability, preservation, and what the future would bring around stewardship. But there wasn’t a lot of discussion around what that workforce could be. We’ve really seen a transformation in the language that the state is using about the ability to catalyze water here as

a workforce opportunity as well, and that has been really impactful for us.”

Last year, that endorsement from the governor’s office manifested in a massive $15 million allocation in American Rescue Plan Act (ARPA) money for the freshwater research and innovation center in Michigan’s 2024 budget. Another $1.6 million grant from the federal government left project partners more than halfway toward the estimated price tag for a phase one buildout.

“We’ve still got a bit of a gap to close,” McDonough said. “And so, our efforts this year are really focused on that fundraising. We’ve had some productive conversations with folks at the state Small Business Development Center and we’re hoping that they’ll release some additional funding for us soon, likely in the $3 million to $5 million range. That’ll help whittle the gap down a little bit, and then I’m also in the process of making a lot of big requests for dollars. By the end of February, we’ll have about $7.5 million out in grant requests.”

McDonough expects the fundraising process will wind through most of this year, but the project partners are dealing with a tight deadline for getting their ducks in a row: At very least, the $15 million in ARPA dollars has to be contractually obligated by the end of this year.

“So, even though we’re not going to

break ground until November 2025, we have to have all the money at least pledged and in place before we’re confident signing a contract to build a $27 million building,” McDonough says. “That’s where our efforts are now.”

If all goes according to plan, the freshwater research and innovation center should be open for business by the summer of 2027 – and perhaps already filled with researchers, businesses, entrepre-

neurs and students.

In fact, not only are the project partners hoping for that level of demand; they’re betting on it.

“I’m hoping that, with all this work we’re doing now, there will be so much momentum by the time we open the doors that, within a couple of years of operating the first building, we’ll be able to build a second building right next door to the first one,” McDonough said.

COMMITMENT IS OUR NORTH STAR

For over 100 years, we’ve showed up for our communities. On the front lines and behind the scenes. With the help of leading-edge technology for the best possible outcomes for our friends and neighbors.

We’re committed to Northern Michigan. And to you.

Learn more at: munsonhealthcare.org/commitment

David Thompson Manager, Practice EHR Operations

‘A FAMILY THING:’

50 years on, Long Lake Marina stronger than ever

By Art Bukowski

Surviving 50 years in business means you did a few things right. Remaining independent after all that time in a world awash with mergers and acquisitions means you’ve harnessed something pretty special.

Relatively recent mergers among other local dealers left Long Lake Marina as one of only a handful of independently owned and operated boat dealers in all of northern Michigan. Long Lake Marina General Manager Paul Leman seemed hesitant to drift into cliches when asked about his family’s secret recipe.

“I know you hear this statement a lot from people, but in our case it’s really true: This is a family thing,” he said. “The people who work here with us aren’t employees; we consider them our family. And we treat our customers like family. It’s what keeps us going.”

That core principle has led Long Lake Marina – which deals in pontoons, personal watercraft, snowmobiles and all of the associated gear – to source much of its business from customer referrals. That’s a pretty important thing for an outfit that’s off the beaten path, relatively speaking.

“We’re not perfect, but we care, and that means a lot to people,” Leman said.

Mom-and-pop to full service shop

What’s now more than 20,000 square feet of sales and service combined with several large storage buildings in Interlochen began in 1973 as a tiny mom-andpop operation along the north shore of Long Lake, hence the name.

Dorothy has since passed, and Warren, 88, is still the shop’s sole owner, though Paul and his wife Heather have run things for many years.

“Everyone in the family worked here. I have an older brother and he ran it for a while. And my sister worked on and off for the company, but I’m the last one

“We’re expecting flat to a little bit of a decline (in sales) this year. But we’ve weathered that many, many times over the years, and part of how you do that is you work hard to support the product you’ve already sold.”

– Paul Leman, General Manager, Long Lake Marina

Paul’s dad Warren Leman moved the family up from Detroit on a whim and opened a small resort and bait shop that also dealt in Evinrude outboard motors, among other items. Warren’s wife Dorothy worked as a secretary in the oil business while Warren managed to scrape up just enough earnings at the shop, Paul said.

standing,” Paul said.

Decade after decade in business means the Leman family has built solid relationships that are a key part of their success. Paul enjoys it as much, if not more, than he did all those years ago.

“This is all I’ve ever done, and I still love what I do. I’m 55 years old now, and when dad started, I was five,” Paul said.

“We have multiple generations that have been our customers – the parents, the kids, the grandkids – and that’s pretty neat.”

Challenges and growth

Small, independent dealerships face considerable challenges, not the least of which is a lack of buying power that drives better prices and selection for the big boys. But despite Long Lake Marina’s relatively small size, Paul said they’re often solicited by manufacturers who recognize the long-term value of a customer well cared for.

“We’re no slouch in terms of sales; we do well for our size,” Paul said. “And more than anything else (the manufacturers) want someone who’s going to keep the customers happy.”

As with many businesses, COVID was a rough time. Not that people didn’t want to recreate, but supplier delays meant reduced parts and inventory, Paul says. While some of those supply issues still continue to reverberate, Long Lake Marina and other operations are now running up against increased inflation and other sluggish economic factors that are expected to impact business.

The original Long Lake resort and bait shop in the 1970s.

Owner Warren Leman in the 1980s.

“We’re expecting flat to a little bit of a decline (in sales) this year,” Paul said. “But we’ve weathered that many, many times over the years, and part of how you do that is you work hard to support the product you’ve already sold.”

The business offers full service for most products sold, in addition to storage, hauling, launching and much more that keeps the money flowing outside of sales.

Weather challenges also seem to be more frequent, but it’s another rollwith-the-punches-type thing for Paul and his crew.

“That’s one thing I tell anybody who wants to be in the recreation business: You’re really dependent on the weather,” he said. “If it’s a cold and rainy summer, sales aren’t good, and if it’s a warm and dry winter, sales aren’t going to be good.”

Long Lake Marina used to sell larger fiberglass boats while in town (they were what’s now the Women’s Resource Center thrift shop on U.S. 31 from 1989 until 2006) but now focuses on pontoons and smaller craft. Paul says it’s part of a trend toward people looking to get the most bang for their buck out of a single boat.

“Pontoons are very versatile now; people can have a pontoon and do everything with it,” he said. “They’re not going to do everything as well as a specialty boat, but you can fish off them, and now that you can get a decent-sized engine you can really cruise with them.”

As for potential growth, Paul says he is eyeing more storage barns. It’s a definite need, he says, and one he feels his business should be prepared to cater to.

“We want to expand into doing more storage, and we’d like it to be inside stor-

age,” he said. “For one, shrink wrapping is not the most environmentally friendly thing in the world, and the second thing is it’s very labor intensive.”

No matter what they do at Long Lake Marina, Paul says he is dead-set on not

straying from the principles that got them this far.

“We’re still a family style business in a sea of conglomerates. I think that does say a lot,” he said. “We want to keep it that way.”

Paul Leman in the Interlochen showroom.

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Life looks good on you.

Life looks good on you.

BOOK REVIEW

By Chris Wendel

I wasn’t quite sure at first what to make of a book written by Arnold Schwarzenegger showing up on The New York Times Business Best Sellers list. Is Schwarzenegger a businessman? Probably. Is he an entrepreneur? Certainly. It turns out that Schwarzenegger’s book is more about personal development and motivation than a business management manual.

“Be Useful” could also be considered a condensed memoir of Schwarzenegger’s remarkable life. And who wouldn’t be interested in advice from a first-generation immigrant to the United States, a world champion athlete, a recognizable global brand, an action hero, a high-paid movie actor, and the former governor of the state of California?

Schwarzenegger claims that he originally comprised “Be Useful” to be longer than seven chapters of “tools.” In a recent interview he claimed that his publisher, Penguin Press, cut short his manifesto to fit a bestseller format. I’m not sure what was in those missing chapters, but “Be Useful” as published is full of decent advice for anyone striving to be successful.

The book begins by describing Schwarzenegger’s early aspirational vision from his adolescence. Living a hardscrabble childhood in post-World War II Austria, his ambition was to someday to live and thrive in the United States. From that experience he learned how to intentionally drive himself toward achieving goals that he set. In today’s world where so much information comes at people from multiple directions, it was nice to hear Schwarzenegger describe in depth the importance and his methodology for creating a true vision and zeroing in on it.

In a chapter/rule “Work You Ass Off,” Schwarzenegger describes his process for taking that established vision and accomplishing it. There are no magic tricks here. Instead he describes making incremental improvement every day, charting one’s progress, and breaking huge goals into smaller, manageable chunks. He relates this “Putting in the Work” to his weight training regimen, focusing on the end goal in mind and grinding through the day-to-day work it takes to excel as part of a satisfying process. He sums this all up, stating: “The beauty of pain, not only is it temporary... it tells you when you begin to give enough of yourself in pursuit of your dreams.”

Schwarzenegger offers up more advice in the “Sell, Sell, Sell” section, saying: “I realized then the importance of selling. Not just selling a product or service, but selling yourself and your ideas.” He goes on to describe when he and actor Danny DeVito pitched the idea of starring themselves as twins to a major movie executive. Although the thought of selling one’s self might be uncomfortable for some, Schwarzenegger does a solid job breaking it into relatable parts such as asking for help, listening, and maintaining relationships.

BE USEFUL: Seven Tools for Life

By Arnold Schwarzenegger

One of the most interesting parts of “Be Useful” is Schwarzenegger describing his tenure as the governor of California. Chosen more for his celebrity status than political experience, Schwarzenegger was true to himself by seeking solutions for bringing people together with different political philosophies, and then using some of the methods mentioned in the book to address some of California’s pressing problems.

Schwarzenegger is now in his mid-70s, is recognizable to a wide age range of potential readers and “Be Useful” is an entertaining book with mass audience appeal. In particular, it could be valuable for high school or college graduates or those just starting off in life. “Be Useful” does have a dose of profanity that may put off some readers.

Although some of the book’s platitudes may seem simplistic and lacking depth, it’s hard to criticize someone who started with so little and made so much of himself in one lifetime. At times I found myself thinking that Schwarzenegger’s parables were a bit simplistic, with his ego run amok. Those emotions, however, were tempered by his wry sense of humor and overall pragmatic advice.

Chris Wendel works for Northern Initiatives, a mission-based lending organization based in Marquette, Mich. Northern Initiatives provides funding to businesses throughout Michigan and online business resources through its “Initiate” program to small business owners throughout the United States. Wendel lives and works in Traverse City.

SOLAR FLAIR

Michigan-based solar boats arrive in northern Michigan

By Craig Manning

If you were out cruising the waters of South Lake Leelanau last summer, you may have spotted an unusual sight: a futuristic-looking boat bedecked with solar panels. Though it resembles something out of a James Bond film, that boat is actually a real-life, Michigan-made innovation from a growing startup. And while the startup in question is based out of Holland, its proving ground is in northern Michigan.

Meet Lilypad Labs, a startup established in February 2021 that specializes in designing and manufacturing boats entirely powered by the sun. The boats aren’t built for speed: Instead, their design centers around a dinner table setup, with room for up to six people to sit, eat, drink, chat, and cruise at a leisurely pace.

During cruise, solar panels are positioned toward the bow and the stern of

the watercraft. The panels slide inward when the boats are not in use, similar to how a retractable roof works on a football stadium. It’s a flashy, sleek design that draws attention while also maximizing the power generation potential of the boat.

tive. Jim Hotary, our CTO, is ex-automotive and robotics. Another founder was a software stack guy, and the fourth was design. We all brought various experiences from large corporate companies, like Haworth and Bissell and General Motors.”

“Electric boats seem like such an opportunity for the state to protect its waters, and I think companies like ours can really bang the drum for that.”

– Dana Lowell, CEO, Lilypad Labs

That focus on eye-catching design isn’t surprising, given the backgrounds of Lilypad’s four founders.

“It was a team of guys who were mostly ex-tech,” explained CEO Dana Lowell of the startup’s initial core. “I’m ex-automo-

That initial quartet (two of them have now departed the company) also brought a shared dream: that of building a business that would do it the right way.

Per Lowell, the idealistic vision for Lilypad Labs not only applied to the actu-

al goal of the business itself – to advance the visibility, availability, and popularity of carbon-free transportation on water – but also to the corporate structure of the company. The business model, as Lowell explains, was built around revenue-sharing, because “we want to have it be a win-win for the people that we’re partnering with and the communities that we’re working with to get these boats out there.”

In other words, even if Lilypad Labs isn’t based in Traverse City, the company’s plan to kick back some of its revenues to partner businesses and communities could benefit the region. That’s because northern Michigan, with its wealth of gleaming waters and summertime visitors, is where Lilypad is putting the lion’s share of its focus as the company continues to build awareness for its boats. Last year, Lilypad placed two boats at Fountain Point Resort on South Lake Leelanau,

renting them out for cruises by way of a partnership with Aussie Watersports.

This summer, at least two Lilypad vessels will be back in the Grand Traverse area – one at Elk Rapids Marina and another based at a new downtown Traverse City storefront that Elk Rapids Marina is opening this spring. Lowell says the Lilypad team is also considering bringing a third boat to the region, but those plans aren’t finalized just yet.

Even if just two of the boats come north, that will still constitute a big bet on northern Michigan for Lilypad.

“Right now, I’ve got the two boats in a warehouse that we just finished refurbishing, I’ve got two more boats coming in that we’re building right now, and I’ve got another two more boats on order,” Lowell said.

There are a few reasons for the low stock. For one thing, Lowell says that starting in the middle of the COVID-19 pandemic meant dealing with some shortages in materials – especially on the solar panel side. For another, he says Lilypad’s founders wanted everything to be Michigan-based, which took time and patience.

“Our supply base is almost entirely in Michigan, and that is not easy,” Lowell explained. “And then we also wanted to do a lot with circularity. So, we chose aluminum instead of fiberglass, because aluminum is recyclable and has a lot

of available fabrication capability. We source our solar panels locally. Solar cells themselves are a little more challenging, but that’s beginning to come here in North America, too. Our batteries are remanufactured Toyota Prius batteries, so we’re taking these lithium-ion phosphate batteries recovered from the automotive industry, inspecting each cell, and then building our own battery kits for the battery backup.”

The list goes on: The wood decking on Lilypad boats, for instance, is black locust timber recovered from the Michigan Department of Natural Resources. Black locust is a fast-growing, fast-spreading invasive species of tree known for producing a particularly rot-resistant variety of timber, making it unpopular among homeowners and naturalists but extremely popular among marine industry companies.

The circularity strategy for building boats may not be the quickest way to amass a fleet of watercraft, but Lowell says it matches well with what is currently the business model for Lilypad. Rather than sell its boats to permanent buyers, the company has thus far operated on a rental basis, finding partners in waterside communities and using those partnerships to introduce its product to boating enthusiasts.

In addition to spreading the word about Lilypad itself, the rental approach

can help create the kind of rising tide that lifts all boats. So suggests Susie Cooper, who owns the Elk Rapids Marina along with her husband Lewis.

Since buying the marina in early 2021, the Coopers have been championing electric boats. In the summer of 2022, they started demoing boats from X Shore, a Swedish manufacturer breaking barriers in the electric boating space. That same year, Elk Rapids Marina installed an Aqua

superPower fast charger on its docks, the first piece of a growing electric boat charging “corridor” in northern Michigan; Northport also now has a charger, and grant funds should soon bring charging infrastructure to the marinas in Traverse City, Charlevoix and Harbor Springs.

“I think everybody in the electric boating industry – whether you’re selling, whether you’re building, whatever it is

Lilypad’s Dana Lowell and Jim Hotary

– we’re ambassadors, because it’s a new technology,” Susie said. “So, the more people we can introduce to different types of electric boating – including Lilypad –the better. Imagine if we could get, let’s say, 26% of boats being electric; just think of the impact on the environment that would have. It would be amazing.”

As the core northern Michigan partners for Lilypad’s 2024 summer, the Coopers will have plenty of opportunity to introduce new people to the world of electric and solar-powered boats. Beyond Elk Rapids Marina itself, the couple are opening an additional storefront in downtown Traverse City, right across from The Little Fleet.

“That spot just happens to back up to the Boardman River, so we were able to get some boat slips,” said Lewis. “We plan on having some demo boats, one of which will be a Lilypad.”

The sheer visibility of that downtown spot, Lewis says, will generate a lot of interest in the Lilypad, simply because of how the design tends to catch the eye.

“It’s the perfect place to get people exposed to Lilypad and to the electric boating experience,” he said. “And then, hopefully, we build from there.”

Lowell’s dream? Eventually, enough positive impressions will get more people thinking seriously about ditching their

gas-powered boats in favor of electric and solar alternatives. If and when that time comes, he’s confident Lilypad will be ready and able to scale up its production and start selling boats to the end consumer.

More than just selling a bunch of boats, Lowell says his hope is to help

build a boating industry that is kinder to the environment – and, especially, kinder to Michigan waters.

“There’s this ongoing discussion about: ‘What’s the most valuable resource in the world?’” Lowell said. “We hear about lithium and cobalt, but I would make the argument that the most valuable resource

in the world is fresh water. Michigan has 20% of the world’s fresh water, so I think the state needs to lean more into water initiatives – including EV transformation. Electric boats seem like such an opportunity for the state to protect its waters, and I think companies like ours can really bang the drum for that.”

A HELPING HAND

Spark in the Dark founder launches

new community giving tool

By Craig Manning

In 2022, Spark in the Dark Founder Abigail McKiernan teased a new business as her “next big thing” in TCBN’s “40Under40” issue.

At the time, McKiernan described the HelpLink concept as “a website where individuals can ask for help with specific and unique needs.” The site, she assured, would be designed to guarantee “that 100% of the money spent by the giver goes to the person in need, creating a self-sustaining helping model that does not require donations, grants, or fundraisers.”

HelpLink took a little while to come to fruition, but the organization officially launched its giving tool in November of last year. Since then, the resource has helped meet dozens of needs in communities around Michigan, impacting nearly 100 lives.

McKiernan says she is hoping to grow those numbers substantially in the months to come, as HelpLink rolls out to more enterprise and nonprofit partners – and, perhaps most importantly, as it catches the attention of individuals, whether those that need a helping hand or are looking to offer one.

HelpLink’s stated mission is to support local communities by providing and facilitating a platform where people may ask for help and donate to specific needs to deliver tangible impact. That aim isn’t so far from what McKiernan was aiming to do when she launched Spark in the Dark in 2017. Primarily by using Facebook, Spark in the Dark worked to connect people in need directly to resources and members in their community who are able to help in times of crisis.

Since the organization started, McKiernan says it has connected about 90,000 needs and amassed a “whopping” 28,000 members across the state of Michigan.

“In that mission, I’m always trying to make things better, easier, faster in the sense of connecting needs with people who can help with those needs,” McKiernan said of Spark in the Dark and its growth. “HelpLink was borne out of that.”

monaco cooked up together was going to be primarily an individual-to-individual giving platform, McKiernan says. But that approach would have only addressed one side of the giving triangle (individuals) while leaving out businesses and nonprofits.

They went back to the drawing board, and ended up instead with what McKiernan describes as a corporate giving tool that lets businesses streamline giving in an impactful way, and that allows them to give to a whole variety of nonprofits while also meeting individual needs.

How exactly does the HelpLink system work? Like with Spark in the Dark, HelpLink allows individuals to share needs that they may have with an online community. Some current needs listed on the system include items like refrigerators or bedding sets.

The unique thing, McKiernan says, is that “every need that comes through HelpLink is sponsored by a local nonprofit” and is tied to a specified monetary need in the way a crowdfunding campaign on Kickstarter or GoFundMe would be.

As nonprofits sponsor different needs – or post their own – HelpLink provides a way to put those causes out in the world for donors to help with directly. As soon as a monetary need is met, HelpLink purchases the item in question and sends it directly to the person or organization that requested it.

“With Spark in the Dark, it is a consistent struggle we see where someone will need food desperately, but they don’t have a car to get to a food pantry, or even to a Spark in the Dark meet,” McKiernan said.

By sending the needed items directly to the people who asked for them, HelpLink helps circumnavigate those difficulties. Recently, McKiernan says the company even added a bill pay feature to its software, so people who are struggling with a past due bill – whether it’s utilities, a medical bill, or a car repair – will be able to upload their bill to request help.

amounts of money they want to have automatically donated. The HelpLink system also includes a donor dashboard, which allows companies to keep track of what they are donating and to whom.

Perhaps most notably, McKiernan says, HelpLink includes tools that make it easy for businesses to involve their employees in the giving process. Team members can provide feedback on what causes are important to them, to drive their employer’s giving strategy – or can even take matters into their own hands and use the platform to direct their own giving, whether to nonprofits or individuals.

If businesses want an especially employer-guided giving strategy, they can even use HelpLink to set up a matching strategy.

“Through HelpLink, we can allow businesses to match their employees’ gifts,” McKiernan said. “So, if I’m an employee at TentCraft and I want to give to Susan, who has posted on our platform that she needs baby formula, TentCraft can then match my donation as an employee, up to X amount.”

Ultimately, McKiernan hopes HelpLink will resolve some of the primary pain points that exist in every corner of the giving triangle. For businesses, the platform can help direct giving strategy, get employees more involved, and keep an accurate accounting of every donation. For individuals, it can be a way to get involved with giving or to bring needs to the forefront and find nonprofit support for those needs.

“It’s really taken about 80% of the work out of the giving strategy for for-profit companies,” McKiernan said.

And while nonprofits can use the platform to promote their own fundraising efforts, McKiernan says she is hopeful HelpLink will also provide a way to make more granular-level impacts than is often possible with grand, full-scale fundraising efforts.

If all goes well, the first round of grant funding will go toward “much-needed infrastructure improvements in the DDA district and around downtown,” said DDA Chair Max Anderson. (Jess L Ashmore Photography)

While trying to work out the idea for HelpLink, McKiernan met Dan Mastromonaco, a software developer who was creating a volunteer-based app. McKiernan says the two decided that “two heads are better than one” and joined forces.

Initially, what McKiernan and Mastro-

The other piece of the puzzle is the business world. Since launching HelpLink, McKiernan and Mastromonaco have been working to recruit businesses to join the platform. So far, they’ve landed a handful of major Michigan enterprises, including names like TentCraft and Great Lakes Steel.

Through HelpLink, for-profit businesses can set monthly budgets for community giving, select the nonprofits they most want to support, and set up monthly

“Oftentimes, nonprofits can’t meet all the needs that come through the door,” McKiernan says. “If there was enough funding for everybody, it would be a glorious thing. But unfortunately, the nonprofits often are having to pick and choose. HelpLink allows them an easy, free-to-use resource for those people they’re trying to help to get their needs out there. And then, hopefully, those people get their needs met by donors and by community members when (the nonprofits) are unable to write those checks themselves.”

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Space for Lease. The Long Lake Culinary Campus is a Unique Opportunity to have your business in a Cooperative Environment. The home of "Food for Thought" and the onsite Childcare Center contribute to a Vibrant Modern business setting, w/Common Areas throughout including the Exercise Rm w/Shower! Long Lake Conditional Zoning identifies this property as a special place for a Variety of Uses. An Abundance of Parking with Great Ingress and Egress. Spaces for Lease can be combined to accommodate tenants needs! Large "Community Center" space For Lease would make a great space for Catering Company - Cooking ClassesOnsite Restaurant - Yoga/Fitness Center - or all of the above! MLS# 1918467 $1445/month

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EXPOSURES

The Northern Michigan Policy Conference, a regional economic development conference led by the Northern Michigan Chamber Alliance, was held Jan. 19 at the Grand Traverse Resort and Spa. Pictured at the conference (l-r): Warren Call, Caitlyn Stark, Nikki Devitt, Stacie Bytwork, Gov. Gretchen Whitmer, Paul Gunderson, Christopher Germain, Michelle Barefoot and Sarah Van Horn. All are leaders of Alliance member organizations. The Alliance includes 16 chambers and economic development organizations from across northern Michigan. Photo by Hilltop Media Co.

Debbie Smith and Col. Randy McClure (USAF retired) at the ribbon-cutting ceremony for Legacy Aviation’s new aviation mechanic program. Smith is on Legacy Aviation’s Fundraising Committee and McClure is a senior advisor to the Legacy Aviation management team. The McClure Conference room at Legacy is named after him.

Traverse City Country Club (TCCC) recently presented its check to the Mid Michigan Honor Flight. Pictured (l-r): TCCC President Rick Birndorf, Mid Michigan Honor Flight VP John Jury and TCCC’s GM Guy Guarino. Members of TCCC held a special event last November and raised $55,000, which exceeded 2022’s contributions.

The Michigan Restaurant & Lodging Association presented its Star of the Year award to Crystal Mountain. The award is given to a resort that demonstrates exceptional quality service, top-notch accommodations, outstanding amenities and exceeds guest expectations. Accepting the award was Brittney Primeau, Crystal’s director of communications.

Michael Thue, Ashley Smith and Rebecca Clark enjoying TCYP’s first happy hour of 2024 at Cut & Run. Traverse City Young Professionals was created by Traverse Connect to “empower and activate young professionals in the Grand Traverse region by providing a dynamic environment for networking and professional development.

SHIP SHAPE

Great Lakes Maritime Academy preps students for life as a Merchant Marine

By Ross Boissoneau

Located on the shores of Grand Traverse Bay, the Great Lakes Maritime Academy is one of only seven institutions of maritime study in the United States.

“We train people to be officers in the U.S. Merchant Marine,” said GLMA Superintendent Jerry Achenbach.

There are two tracks: One for deck officers and one for engineering. Graduates go on to work on ships of all sizes on both the oceans and the Great Lakes.

Tess Lepley is one of those who opted for the engineering track. She works onboard the T/S State of Michigan as an engineer at the Great Lakes Maritime Academy.

She originally attended a university for mechanical engineering, but says she decided she wanted to be an operational engineer instead of a design engineer and also work on ships.

“I graduated from the academy in 2022, sailed on the oceans for a year and came back to take my current position,” she said.

She’s one of three recent graduates, along with Dan Zassick and Chuck Miller, who have come back to work for GLMA.

Graduates like Lepley, Zassick and Miller can go on to work on ships of all sizes, from tugboats up to monsters over 1,000 feet in length. Robert Thibaudeau, longtime captain of the Paul R. Tregurtha, the largest ship on the Great Lakes, is

a graduate of the academy, as is Lori Reinhart, the first woman to command an American ore boat on the Great Lakes.

The academy was founded in 1969. Achenbach says it all goes back to Les Biederman’s vision and to the influence and clout Michigan had at the time on Capitol Hill. A new facility opened on the site in 2003, followed two years later with an expansion of the harbor to better accommodate its vessels.

Students earn a bachelor’s in Maritime Technology, one of two bachelor’s programs at Northwestern Michigan College. (The other is in Marine Technology; NMC is the only such program in the country.) Maritime Technology graduates

get a bachelor’s degree and a Coast Guard license. Achenbach said there is a compressed three-year program for those who already hold a bachelor’s, and that one quarter of enrollees complete the program in three and a half years.

Achenbach says the goal is to have 40 graduates annually.

“Eighty percent of those who arrive graduate,” he said. “That’s higher than the others.”

He attributes that in part to the maturity of those who enroll here. Many of those who attend the other schools are traditional college students in their early 20s or even younger, while those at the GLMA are older, with an average age of 27.

A recent photo of Great Lakes Maritime Academy cadets.

“It’s a different demographic,” Achenbach said of NMC’s program compared to others. “We’ve had cadets in their 50s and 60s. One woman was a retired Navy officer with a Ph.D. who had always wanted to do this.”

Not that “this” is easy for anyone at any age. Besides a demanding classroom curriculum, students spend much of their time onboard the T/S State of Michigan and the academy’s other watercraft, including the summer of their first year of school. There are numerous licensing requirements, and the fourth year is largely spent in preparation for that testing. After completing all the training, cadets still have to pass their licensing exam. Until they do, their degree is not conferred.

The star of the academy’s fleet is the 224-foot-long T/S State of Michigan. It serves as a floating classroom and handson learning environment. Built in 1986 as the Persistent, a Navy submarine surveillance ship, it was originally used to tow sonar arrays for tracking Soviet submarines.

As the Soviet threat diminished, the Navy decommissioned Persistent and sister ship Vindicator in 1998, transferring them to the U.S. Coast Guard for use in drug interdiction. Though it was overhauled and repowered, the Persistent was eventually deemed too slow for offshore drug enforcement and was made available to other government agencies. The Maritime

Academy subsequently negotiated the transfer of the now-renamed vessel to Traverse City.

Other members of the fleet include a 41-foot former U.S. Coast Guard Utility Boat that handles heavy seas. Its all-weather capability combined with its long range allows joint operations with the T/S State of Michigan while underway.

The fleet’s tug Mississippi was built in 1916 by the Great Lakes Towing Co. of Cleveland and was converted to diesel propulsion in 1957. Last, the 45-foot Anchor Bay began its life as a tug boat for the Army Corps of Engineers and is the first vessel cadets operate upon entering the Academy.

Achenbach says it is a challenge to get students used to the tempo of the program and the culture of Merchant Marine training and life. Asked to describe a typical day, Achenbach laughed.

“There’s no such thing,” he said.

Between time spent in the classroom studying such areas as law and finance and working aboard ship, no two days are alike.

“It’s arduous,” Achenbach said.

Those who graduate from the program typically have no problem landing jobs in the field.

“Right now there is a shortage of officers,” he said, both on the Great Lakes and on ocean-going vessels.

Those positions range from deck hands to pilots, engineers and the numerous

T/S State of Michigan

“Eighty percent of those who arrive graduate. That’s higher than the others.”

Jerry Achenbach, Superintendent, Great Lakes Maritime Academy

others needed for the ships plying the waterways of the Great Lakes. The maritime industry includes tugboats, barges, container ships, passenger ships, tankers, research vessels, ferry systems, bulk carriers and specialized vessels of many types. Despite the name, Merchant Marine officers are not connected with the military. It simply refers to those individuals,

licensed or unlicensed, who make their living in the maritime industry. What they do have is extensive training and managerial skills.

For Lepley, joining the Merchant Marine offered the chance to do something other than a conventional 9 to 5 desk job.

“This occupation is a ‘Choose Your Own Adventure’ book. There are infinite

Robert W. Parker

Scott D. Harvey

Jeffrey R. Wonacott

Peter J. Boyles

Andrew J. Blodgett

Timothy M. White

Todd W. Millar

Anders J. Gillis

Jacqueline P. Olson

Stephen C. Chambers Emeritus

John R. Blakeslee Emeritus

opportunities to travel, to work on stateof-the-art equipment, and meet people from all over the world,” she said.

She graduated in 2022 with a bachelor’s degree in Maritime Technology and a United States Coast Guard License as a 3rd Engineer, able to work on any ship in the world.

“Through one of my 90-day sea projects I had over a semester here at the Academy I was hired back to a refined oil tanker that worked mainly in the Gulf of Mexico,” Lepley said, describing the work as intense, with numerous 12-hour days spent working on the equipment to make sure it was all working properly and would pass exacting inspections.

“I met dear friends from all over the world, ran from hurricanes, played cornhole on the bridge wings while watching the sun set over the coast of Florida, participated in abandon-ship drills, safely climbed inside an engine that was three stories tall, and experienced port calls that I was only able to see because of my job,” she said.

Chrissy Kadleck, spokesperson for Ohiobased Interlake Maritime Services, said their company employs many GLMA graduates.

“We work to attract them to our fleet,” she said.

The company, based in the Cleveland suburb of Middleburg Heights, has been in business for more than 100 years. Its

commercial fleet of 11 vessels hauls more than 20 million tons of cargo yearly across the Great Lakes. Among the fleet is the freighter Mark W. Barker, the newest freighter on the Great Lakes, and the S.S. Badger, the ferry providing service from Ludington to Manitowoc, Wisconsin.

“We heavily recruit from Great Lakes Maritime Academy,” Kadleck said, adding graduates are typically first employed as third mates or third engineers who work to meet the challenges of the Great Lakes, its connecting waterways and its ports.

While many of those working on the ships of the Great Lakes are graduates of the program, that’s not as often the case for ocean-going watercraft. Asked whether the captains and other personnel on cruise ships might be graduates of NMC’s program, Achenbach said it’s possible but unlikely. That’s because the other six programs in the U.S. are on the seaboard and there are also other such schools abroad. Also, most cruise ships sail under the flag of other nations.

Lepley is one of the few women who attend the GLMA. According to Achenback, approximately 80 to 90% of the graduates are male, and a similar percentage are white.

“We have to do a lot of outreach to increase our diversity,” he said, though

he allows it has slowly increased over the years. “Compared to when I graduated in 1986 it’s much better.”

Both Achenbach and Lepley say one of the best things about the academy is the support it is able to offer the cadets. In their words, no one slips through the cracks.

“What I find to be special about Great

Lakes Maritime Academy is the ability of our faculty and staff to be personally invested in your education and future career,” said Lepley. “Our ability to give hands-on experience to cadets through labs, a sea project onboard our training ship, or a sea project onboard a commercial vessel is phenomenal.”

Tess Lepley in the engine room aboard the T/S State of Michigan.

lifestyle and plan for the related costs.

1. What will I be doing?

• Do I plan to continue working past age 65 or after I reach my full retirement age?

Full time or part time?

• Are there hobbies I want to pursue that will either cost money or make money?

• Is there volunteer work that may also have costs associated?

• Do I plan to travel? Where?

• Are there things I enjoy that have related costs?

2. Where will I be living?

• Will I stay in my current home or downsize to something smaller or a rental property?

• Will I move to a retirement community or assisted living facility?

• Will I sell my home and replace it with an RV or other alternative living option?

3. What situations could impact my expenditures?

• What health care coverage do I need for my health conditions?

• Do I have an emergency fund for unexpected situations such as a health care crisis or property loss due to a natural disaster?

• What if I stop working sooner than expected?

• What happens if I experience a significant income loss?

4. What barriers are keeping me from investing?

• I have nothing extra to invest.

• I have education loans or other debt.

• I don’t know how to start an investment plan.

• I have time to start saving later.

Next steps

Prepare rather than panic. Create an outline from your answers to these questions. It should give you the framework to calculate the income you may need to support your retirement lifestyle. Decide to adjust your spending patterns today. Choose something you really don’t need and redirect that amount into your retirement savings. Take advantage of growth potential over time. Pay yourself first instead of spending money on something that won’t support your future retirement needs. Creating that nest egg now could reduce your stress about money. Start or add to an emergency fund. Even if the amount seems very small, it’s important to take the first step. As that amount grows and the behavior becomes a habit, you will likely gain confidence and momentum in your investment activities. Meet with a financial advisor to review your answers and turn your outline into a plan to help you work toward your goals.

JULIAN | BLACK Wealth Management Group of Wells Fargo Advisors

NEWSMAKERS

>> BANKING & FINANCE

Morgan Stanley’s Wealth Management office in Traverse City announces the following:

1 - Jason Idziak , a family wealth advisor and financial advisor, has been named to the firm’s Master’s Club. The appointment recognizes excellence in service to clients.

2 - Damian Lockhart , financial advisor and branch manager, has been named to the firm’s Century Club. The appointment recognizes excellence in service to clients.

Private wealth management firm Robert W. Baird & Co. in Traverse City announces the following:

3 - Karla Taylor of the Rivard Teahen Group recently received the Wealth Management Certified Professional designation. This designation is earned by financial planning professionals who successfully complete a rigorous curriculum of portfolio strategies.

4 - Rebecca Teahen of the Rivard Teahen Group recently obtained the Certified Investment Management Analyst® certification through the Investments and Wealth Institute. This certification is a technical portfolio construction program for investment professionals.

>> HEALTH CARE

5 - Adrienne Hope has been promoted to human resources manager at Comfort Keepers of Northern Michigan in Traverse City. Hope is responsible for developing and implementing strategies to recruit, train, and retain employees. Hope joined the compa -

ny in 2021 and previously served as talent development specialist.

6 - Kelly Ramos was recently honored as a Kristin Butler 2023 Comfort Keeper of the Year at the home care franchise’s international conference. Ramos has been a Comfort Keepers’ Traverse City caregiver since 2020. The award is named for the Comfort Keepers’ founder and recognizes Ramos’ work in providing the best quality care for her clients.

>> NON PROFIT

7 - Matt Ness has joined the board of directors of Big Brothers Big Sisters of Northwestern Michigan in Traverse City. Ness is vice president of lending at Neighborhood Lending and brings a passion for youth development and social impact within his community.

2 // DAMIAN LOCKHART 3 // KARLA TAYLOR

4 // REBECCA TEAHEN

1 // JASON IDZIAK

5 // ADRIENNE HOPE 6 // KELLY RAMOS 7 // MATT NESS

>> REAL ESTATE

8 - Kristen Rivard recently joined Traverse Real Estate in Traverse City. Rivard has more than six years of experience as a Realtor.

9 - Claire Washington recently joined the Live Traverse City Real Estate Team at RE/MAX Bayshore in Traverse City as a Realtor.

10 - Thomas Yagle has joined Traverse Real Estate in Traverse City as a Realtor. Yagle brings nine years of experience in the home industry, owning and operating Vivid Custom Painting.

>> OTHER

Sonny’s Body Shop in Traverse City announces the following personnel news:

11- Lee Cobb recently joined the Sonny’s team in the position of general shop maintenance.

12 - Darin Neal has joined the company as an estimator, bringing many years of experience working with insurance companies.

13 - Jeff Proudfoot has joined Sonny’s as an auto body technician. Proudfoot brings more than 20 years of experience to his new position.

Please send Newsmakers by the 10th of the month to news@tcbusinessnews.com

Welcome to a different kind of wealth management

We’re built differently - to us helping you protect and grow your wealth is about more than just your investment portfolio. Unlike many firms, we have expertise across financial planning, investing strategy, tax and estate planning, trust services, insurance solutions, and more. Our specialists across each of these areas communicate with each other about you, and with you, so you can enjoy everything you’ve achieved. We’re here to help you connect all the dots of your financial life.

JEFF PROUDFOOT

Judi Heather