Our founder looks to the future

JOHN HUNT describes founder Tom Monaghan’s long-term vision for Legatus . . .

John Hunt

Earlier this year Tom Monaghan, our founder and chairman, spoke to the board of governors on Legatus’ growth and mission over the past 27 years. He shared his vision for Legatus well into the future — perhaps even past his service to the Church.

He had been encouraged to memorialize his aspirations for this lay organization he loves so much such that the permanence of its mission will remain as testament to his vision. In his remarks to the board last February, he highlighted some of the traits of the Legatus executive — the Catholic leader in the marketplace who requires nurturing in order to fulfill his or her role as leader, mentor and confidant.

Such individuals, in his view, are the most ethical group of leaders in the country. They are creative problem-solvers, visionaries, motivators, competitors, risk-takers, long-term thinkers, and they are, in a nutshell, the heart and soul of the laity in the New Evangelization.

A significant attribute of Tom Monaghan’s plan when he, inspired by the Holy Spirit, founded Legatus in 1987 was the sense that Legatus should always be populated by the true leaders of the business community, the culture and the Church. At its founding, Legatus’ threshold for membership was $4 million and 50 employees. To encourage membership growth, the criteria were reduced over time to $3 million and 30 employees. Subsequently, the revenue component was raised to $5 million where it is today. In actual fact, the criteria for membership in Legatus are substantially as they were at Legatus’ founding — more than 27 years ago.

Earlier this year, the board of governors acknowledged this static membership component and adopted reasonable increases to membership criteria for 2015. Bear in mind that these changes do not affect the membership of any current Legatus members. They are, however, intended to acknowledge the impact of inflation on the economy — and on the Legatus membership criteria since 1987.

Effective Jan. 1, 2015, the following changes will become effective. Minimum number of employees: 40. Minimum annual revenues: $5.5 million. Financial Services Assets Under Management: $250 million.

These changes are intended to assure the integrity of the criteria and are subject to further modification in the future. Our regional directors and I are available to respond to any questions you may have.

JOHN HUNT is Legatus’ executive director. He and his wife Kathie are charter members of Legatus’ Chicago Chapter.