New Energy to Reinvent and Diversify Fund
What was the New Energy to Reinvent and Diversify Fund?
The New Energy to Reinvent and Diversify Fund, more commonly known as the NERD fund, was a short-lived, secretive and controversial government expenses fund which ran in the State of Michigan from 2011 to 2013.
Where have you heard about the New Energy to Reinvent and Diversify Fund?
If you’re from the State of Michigan, it’s likely you will have been made aware of the New Energy to Reinvent and Diversify Fund. The state, and its creator Governor Rick Snyder, came under a fair amount of scrutiny when the fund was revealed to the public.
What you need to know about the New Energy to Reinvent and Diversify Fund.
The fund was set up to allow anonymous corporate donors to subsidise government expenses, and it was this anonymity that was one of the main causes for concern amongst its critics. Throughout 2011 and 2012 the NERD fund received almost $1.7 million in donations. Amongst other projects, the money from the fund was used to pay for the accommodation and living expenses of Detroit Emergency Manager Kevyn Orr and his family, upgraded furniture and a new security system for Governor Snyder’s home, travel expenses for his staff and to pay Richard Baird, who assisted Snyder with several sensitive projects.