By Catherine Twing, Contributing Writer
Region – J. Michael Grenon, CIMA®, is a Vice President at Grimes & Co. in Westborough, where he manages portfolios for high net-worth individuals, endowments and retirement plans.
But in his off hours he uses his experience in finance and investment to help others in Central Massachusetts.
After seven years on the investment committee for the Health Foundation of Central Massachusetts, he has recently been appointed to the board of directors.
The investment committee is tasked with determining how to invest the Foundation’s funds in different ways, so it can continue to generate more income and continue in perpetuity.
Jan Yost, president and CEO of the Foundation explained that it is crucial to have experienced professionals like Grenon on their investment committee and board.
“Investing is so important, we ask community members to join us. That way the investment committee can have far more expertise. It’s a great way to tap people who are very smart in investing,” she said.
Yost explained that the Foundation began in 1999 when Central Massachusetts Health Care, Inc. was sold. Laws dictated the profit from the sale must go to a nonprofit organization with a similar mission, and the Health Foundation of Central Massachusetts was created.
“$60 million was netted from the sale. Now we’re at $75 million from good investments. We’ve also awarded $42 million in grants to over 200 organizations and operated for 20 years,” she said. “It’s a wonderful asset for the region.”
Grenon believes the benefit is mutual.
“Because of the organization I’ve learned more,” he said. “A benefit of serving on a lot of nonprofit boards is what you learn from other professionals who bring in their own expertise in health care, finance. The Health Foundation of Central Mass helps a lot of social service agencies that are contributing to healthcare.”
Between his full-time job and work with the Health Foundation, most people would guess he’s a busy man.
And they’re right – but that’s not the only organization he is involved with.
He is also an active member of the Investment Management Consultants Association, past president of both the Worcester Economic Club and the Worcester Young Businessmen’s Association, serves on the Investment Committee for St. Joseph’s Abbey and on the board of directors at Worcester Academy and Catholic Charities.
Catholic Charities is an organization he is particularly passionate about and has been involved with for close to 20 years.
“There are few organizations that I know of that have made such an impact on the residents of Central Massachusetts,” Grenon said. “When you look through all the grants they have made over the years, there’s an awful lot of areas they have touched.”
Executive Director of Catholic Charities Tim McMahon recognizes Grenon’s dedication.
“Mike has worked tirelessly over the years championing the work being done at Catholic Charities,” McMahon said. “As a volunteer board member, his advocacy in meeting the needs of the most vulnerable has really been his hallmark.”
When he isn’t working at Grimes & Co. or on one of the many committees or boards, the Millbury native and current Northborough resident enjoys spending time with his family including wife Brittany and children Ali, Courtney and Danielle.
“I like golf, I’m a big sports fan — all Boston. But work and family take up 90 percent of my time.”