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The Burton D. Morgan Foundation Awards More Than $700,000

02/11/2010

The Burton D. Morgan Foundation has pledged $150,000 for continued support of the Fund for Our Economic Future.  The grant, to be paid over three years, brings the Foundation’s commitment to the regional economic development initiative to $400,000.

“This Foundation has played an important role in helping to shape the Fund’s entrepreneurship agenda over the last six years,” Morgan Foundation President Deborah Hoover said. “Through its commitment to Phase 3 of this vital initiative, we look forward to contributing not only financial resources, but also leadership and expertise to advance the Fund’s work.

The Fund is seeking $15 million for the next three-year phase of guiding and spurring the region’s economic growth. “While significant progress has been made, much transformative work remains to be accomplished,” Hoover said.

The support for the Fund was among more than $700,000 in grants recently approved by the Foundation to promote entrepreneurship, economic development, the free enterprise system, and to benefit the area and the Hudson community. Grants included:

City of Hudson – Up to $10,000 for upgrades to the City’s Web capabilities related to economic development.

Consortium for Entrepreneurship Education – Up to $15,000 for general support and scholarships for Northeast Ohio educators to attend the 2010 national conference in Columbus.

Cuyahoga Valley Countrywide Conservancy – $25,500 to support training and workshops and to fund a development consultant for the organization.

Entrepreneurs EDGE – Up to $75,000 for CEOs for NEO, a program that matches area business leaders with graduate and undergraduate students and engages the students for a two-month summer internship to explore promising new ideas for the businesses.

Entrepreneurship Education Consortium – Up to $86,000 for a summer collegiate entrepreneurship boot camp for students from nine member colleges, a collegiate idea competition and for student interns to help with fundraising.

First Congregational Church of Hudson – $30,000 for the 2010 Pledge Drive supporting 2010 operations.

Fund for Our Economic Future – $150,000 over three years for Phase 3 of the economic development collaboration.

Hudson City School District – $15,000 to pilot a mini-grants program in 2010-2011 supporting entrepreneurship lessons and activities proposed by teachers.

Ideastream – $40,000 to sponsor Nightly Business Report on PBS television station WVIZ.

National Inventors Hall of Fame Foundation - $25,000 toward development of a new national Camp Invention flagship curriculum aimed at engaging children in entrepreneurship as well as innovation.

Northeast Ohio Council on Higher Education – $36,000 to work with entrepreneurial companies in Northeast Ohio to create 32 summer internships for college students, provide employer internship training, and partially reimburse employers for the cost of the interns.

Western Reserve Academy – $116,000 for the Morgan Leadership Program for the 2010-2011 and 2011-2012 academic years. The grant includes five scholarships of $10,000 each for those chosen as Morgan Leaders each year.

In addition to grants promoting entrepreneurship and economic development, the Foundation annually also provides a number of proactive grants to support the quality of life in this community. Those grants are:

Akron Art Museum – $50,000 for the revolving Artworks Fund for deposits on future exhibits.

Akron-Canton Regional Foodbank – $20,000 to aid the Foodbank.

American Red Cross of Summit and Portage Counties – $30,000 to help the Akron-based chapter of the American Red Cross in its mission of aiding those in need of local disaster relief.

Hudson Community Service Association – $8,000 to assist those in need in Hudson and within the city’s school district.