A Continuous Learning Foundation
The Burton D. Morgan Foundation created its first strategic plan in 2005, just a few years after Mr. Morgan passed away in 2003. Mr. Morgan shared his donor intent for the Foundation frequently, both in meetings and in his prolific writings. At this turning point in the Foundation's history, the Trustees decided to capture all they knew about our donor’s wishes in a strategic plan to guide the Foundation’s future direction. The Trustees updated and enhanced the plan in 2007 and again in 2011. The Foundation’s focus reflects our donor’s intent, interpreted through the wisdom and good judgment of our Board of Trustees and adjusted for the passage of time and societal changes.
The Foundation will align its resources to achieve greater impact by setting mission-focused goals, managing to outcomes, measuring results, and communicating successes and failures. Throughout this process, we will check our progress and adjust as necessary as we learn and work toward continuous improvement. We will learn as an organization through disciplined self-examination and through active engagement with our grantees. We will be a continuous learning foundation and share our findings to help strengthen the practice of philanthropy and the field of entrepreneurship.
Strategic Plan Focus
Mr. Morgan was very clear that he wanted the Foundation to focus its assets and other resources primarily on entrepreneurship and entrepreneurship education. The current plan emphasizes the following elements in support of our mission:
Entrepreneurship Ecosystem
-
Build networks of grantees to amplify the impact of our grants
-
Evaluate the impact and effectiveness of our grants and share the results
-
Develop learning communities among our grantees to maximize opportunities to share knowledge
-
Disseminate information and knowledge through multiple modes of communication
-
Leverage foundation grant dollars and other resources to promote entrepreneurship
Youth Entrepreneurship
-
Enhance teacher training opportunities in entrepreneurship
-
Support a strong portfolio of grants in entrepreneurship, financial literacy, and economics
-
Assess the effectiveness of entrepreneurship education programs
-
Strengthen pathways in entrepreneurship
Collegiate Entrepreneurship
-
Support the sustainability of our collegiate entrepreneurship programs
-
Promote experiential learning opportunities
-
Build and optimize the network of collegiate entrepreneurship programs
-
Assess the effectiveness of collegiate programs
Adult Entrepreneurship
-
Invest in Northeast Ohio venture development organizations
-
Build pathways from collegiate to adult entrepreneurship
-
Address gaps in the entrepreneurship support system
-
Assess programmatic results
-
Support region-wide economic development through entrepreneurship
Community Support
-
Support the vitality of the Foundation’s hometown of Hudson, Ohio
-
On a proactive basis, support community needs through selected organizations
Financial Resources
-
Manage the assets of the Foundation to conservatively grow our capital and produce resources to support the Foundation's mission.
The Foundation's strategic plan will guide our work in the coming years as we embark on new initiatives to strengthen the institutions and networks that are creating an entrepreneurial culture in Northeast Ohio.