Great Lakes Protection Fund

The Great Lakes Protection Fund is a publicly capitalized, private corporation created in 1989 by the Governors of the states surrounding the Great Lakes. The Fund invests a one-time contribution of public funds and uses the investment income for two purposes: first, to test new regional actions that improve the health of the Great Lakes; and second, to provide resources for states to support their individual Great Lakes priorities.
History.
The governors of seven Great Lakes states signed an official agreement on February 26, 1989, to create the Great Lakes Protection Fund. This followed recommendations made in the 1986 Toxic Substances Control Agreement, signed by the Great Lakes governors. Seven Great Lakes states contributed $81,000,000 to capitalize the Fund. Each state contributed to the Fund based on its usage of Great Lakes water. The Great Lakes Research Consortium hailed the Fund as a "unique and precedent-setting conclusion to the search for a stable, long-term funding mechanism for Great Lakes research." The Great Lakes Protection Fund held its first meeting on July 12, 1989, in Chicago.
The earnings from the endowment, now worth over $100 million, have supported 296 regional projects, committing $91 million to regional project teams. The Fund has also provided $54 million of additional support directly to its member states for their discretionary uses.
The Fund is prohibited from expending the publicly funded endowment, and does not undertake the work of government nor the compliance activities required of private parties. During the Fund’s formation, the International Association for Great Lakes Research and Great Lakes United cautioned that the Fund should not be considered a replacement for state and federal investments in environmental protection. Rather, the Fund is meant to "enhance state and federal projects while preserving water quality more effectively." 
Organization and Governance.
The Fund is a membership corporation. The governors of those states that have paid their share of the initial capital are members ex officio. Currently, the states of Minnesota, Wisconsin, Illinois, Michigan, Ohio, New York, and the Commonwealth of Pennsylvania are members in good standing. Member Governors each elect two directors who act as fiduciaries for the corporation. The governors are required to select individuals with regional perspective and seek a board of directors that is fully reflective of "the diverse community of State and regional interests (such as academics, environmentalists, business, labor, local communities and others) that use and benefit from the Great Lakes." Under the stewardship of member governors—who set the broad parameters of the Fund’s multi-year goals—directors set priorities, hire staff, invest the endowment, and make project finance decisions.
Funding and Impact.
By December 2020, the Fund has supported 296 regional projects, investing $91 million in grants and loans. Fund-supported project teams have:
These efforts were supported in response to proposals generated in response to the Fund’s guidelines, periodic supplemental requests for proposals, or assembled collaboratively with Fund staff. That work involved over 1000 collaborating institutions and thousands of team members. The Fund welcomes preproposals—short descriptions of potential new projects—at any time.