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The Fund for our Economic Future, an unprecedented, both in Ohio, and the US, collaboration of NEO's private, community, and corporate foundations was launched today in Akron. This fund, totaling over $32 million dollars, is the largest and most comprehensive philanthropic collaboration of its kind in the US. The money will, and future monies raised, will go entirely (no cost factor overhead) to business startup.
Something to cheer for in NEO!
Something to cheer for in NEO!
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Re: Press Release!!!
Tue, February 17, 2004 - 3:54 PMHere's a write-up on this from Crain's:
www.crainscleveland.com/news.cms
Also I believe unprecendented is Civic Innovation Lab, funded by the CLeveland Foundation, which released its first round of funds this Spring.
It will be very interesting to see what the Fund for our Economic Future funds...
From the Crain's article:
"Robert Briggs, executive director of the Akron-based GAR Foundation, said the $30 million would be invested over three years. The first round of investments are expected to be made in April. Mr. Briggs said some existing programs could receive money, and new programs might get money. Every foundation that contributes $100,000 or more to the fund will have a single vote on how to invest the money. An executive committee made up of representatives of the foundations that contribute more than $1 million will evaluate various projects. Unsolicited proposals won’t be accepted."
Read more: www.crainscleveland.com/news.cms
