Scholarship Spotlight
Deb Bailey Memorial Scholarship
- Endowed in 2021.
- Honors Deb Bailey, who served as a GRCC trustee from 2013 until her death in 2020.
- Supports first generation students.
Ms. Ellen James Trailblazer Scholarship
- Endowed in 2019.
- Honors retired trustee and current foundation board member Ellen James.
- Supports Grand Rapids high school graduates who will be the first in their family to attend college.
Doug Klein steers asset growth for more scholarships.
For 15 years, board Treasurer Doug Klein has kept careful oversight of the GRCC Foundation’s assets.
It’s a staggering responsibility: Growth in foundation funds means more scholarships, and a scholarship is often the difference between a student completing a degree or certificate or dropping out. Under Klein’s leadership, the foundation’s cash and investments increased by more than $15 million.
Klein, who stepped down from the board this year, is quick to share any praise, crediting previous treasurers Barb DeMoor and Jim LaFeur with putting the foundation on a firm financial footing.
“My responsibility, along with the investment committee, was maintaining and enhancing the foundation’s assets,” he said. “Those assets have grown over the past decade and a half from approximately $12 million to over $40 million currently.”
Doug Klein
He brought an impressive breadth of experience when he took his board seat in 2008.
His most recent position was as senior portfolio manager of Northern Trust Co. from 1999 to his retirement in 2014. He previously served as vice president and senior portfolio manager for Bank One and also worked in portfolio management for Union Bank Trust Co., NBD Bank, First Chicago, and Old Kent Financial Corp.
While he isn’t a GRCC alumnus – he earned his bachelor’s degree in business from Michigan State University and is certified as a Chartered Financial Analyst – he supports the college as a linchpin in the community.
“Pat and I have many friends and former co-workers who attended either GRJC or GRCC,” he said. While the Kleins do not yet have a designated scholarship fund – “it is on our radar,” he said – they have contributed to other funds, including those honoring fellow foundation board member Ellen James and GRCC trustee Deb Bailey. They are especially strong advocates for the foundation’s unrestricted fund.
“I have the highest regard for the administrative leadership, faculty and staff,” Doug Klein said. “Everyone is dedicated to the success of students, whether they are entering as freshmen, directly from high school, or if they are matriculating for adult career enhancement opportunities.”
“There are many organizations in West Michigan worthy of our time and treasure. Grand Rapids Community College is at the top of the list for Pat and me.”
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