Burton D. Morgan Foundation Awards More than $1.1 Million to Benefit Northeast Ohio Organizations
Burton D. Morgan Foundation has awarded funding in excess of $1.1 million in the first quarter of 2024 for organizations in Northeast Ohio to support entrepreneurs of all ages and stages.
The following organizations received grants to educate and support adult entrepreneurs:
Bounce Innovation Hub - $2,000 for operating support
Community Initiatives - $20,000 to support the Entrepreneurship Funders Network
Cuyahoga Community College Foundation - $1,000 for the Goldman Sachs 10,000 Small Businesses program
Downtown Akron Partnership - $1,000 for operating support
Entrepreneurs’ Organization of Cleveland - $20,000 for a Strategic Alliance Partnership
Greater Akron Chamber Foundation - $20,000 to support the success of the regional business community
Hudson Library & Historical Society - $60,000 for the Burton D. Morgan Center for Entrepreneurship
Kent State University Foundation - $20,000 for Ohio Employee Ownership Center programming for second stage businesses
Manufacturing Advocacy & Growth Network – up to $57,600 for the EDGE Summer Fellows program
SEA Change Incorporated - $40,000 for the Northeast Ohio Social Enterprise Accelerator Program
The Well Community Development Corporation - $87,000 for Akron Food Works
Venture for America – up to $100,000 to support VFA's Northeast Ohio program
Morgan Foundation made grants to the following organizations to support entrepreneurs on college campuses:
Kent State University Foundation - $20,000 to support hackathons
The University of Akron Foundation - $3,500 to connect NEOLaunchNET ventures to needed legal services
Youngstown State University Foundation - $10,000 to support entrepreneurship programming
In addition, VentureWell received $20,000 for support of conferences focused on collegiate entrepreneurship.
Following an experimental pilot program in 2021, Morgan Foundation is providing universities and other nonprofit organizations with Morgan Startup Grant funds to educate entrepreneurs and support the launch and development of early-stage businesses. These microgrants, which are often less than $500, have been successful at spurring business momentum. A total of $200,000 was distributed to these nine organizations for the Morgan Startup Grants program:
Ashland University
Baldwin Wallace University
BRITE
Case Western Reserve University
Cleveland State University Foundation
Cuyahoga Community College Foundation
John Carroll University
Kent State University Foundation
SEA Change Incorporated
The foundation supports youth entrepreneurship primarily through YIPPEE Exchange, a market-based approach to philanthropy in which educators decide what we fund using a points-based system. Community Initiatives received a grant of up to $150,000 to support YIPPEE. Additional grants made to support young entrepreneurs include:
University School - $180,750 to support the 2024 Enspire conference
VentureLab - $20,000 for the Spark Startup Mentorship Program
Woodridge Local School System - $50,000 for the EntrepreNEW program
Morgan Foundation also made a grant of $5,000 to Great Trail Council Boy Scouts of America in honor of our founder, Burt Morgan, on the anniversary of his passing.
President & CEO Daniel Hampu commented, "We are thrilled to announce grants awarded in the first quarter, which mark a significant step forward in Morgan Foundation’s commitment to strengthening free enterprise and fostering innovation and entrepreneurship in Northeast Ohio. These partnerships, both new and existing, underscore our dedication to supporting ventures at every stage, from startups to second stage businesses, and empowering entrepreneurs of all ages through dynamic, educational programming aligned with our strategic vision."