Endowment Established For VAI
GRAND RAPIDS — The Van Andel Institute announced late Thursday that it will receive an annual gift out of earnings from an endowment established by the late Jay Van Andel through his estate and will no longer receive partial funding from the Jay and Betty Van Andel Foundation, which is to be dissolved in 2005 in accordance with his wishes.
According to the VAI, the endowment will support the ongoing work of the institute, while VAI scientists will continue to seek grants and funding from third parties. VAI’s development staff will continue to solicit private funding to support operations as well.
The institute did not release information on the amount of the endowment in its initial announcement.