Bank of Ann Arbor's Tim Marshall appointed chairman of Ann Arbor SPARK

Marshall has been serving as vice chairman for the past two years. He replaces Stephen Forrest, the University of Michigan’s vice president for research, as chairman.

SPARK’s board of directors meets annually and provides broad direction for the organization. The group also has an executive committee, which meets every other month and provides regular guidance and oversight.

Other new board appointments: Cynthia Wilbanks, vice president of government relations for U-M, is vice chairwoman; David Parsigian, partner in Honigman Miller Schwartz and Cohn LLP, is secretary; Trevor Lauer, vice president of marketing for DTE Energy Co., is treasurer.

Marshall was also appointed chairman of the Federal Reserve Bank of Chicago’s Community Depositary Institution Advisory Council in February.

SPARK, which was co-founded in 2005 by Gov. Rick Snyder, released its annual report Monday, saying its core operating budget is about $4.4 million. That figure comes from tax dollars via the Local Development Finance Authority, Washtenaw County, the city of Ann Arbor and other local municipalities, the University of Michigan, and financing from private businesses and nonprofit organizations.

(Editor's note: AnnArbor.com Executive Vice President Laurel Champion serves on Ann Arbor SPARK's Executive Committee.)