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The Fund for Our Economic Future is a collaboration of philanthropic organizations and individuals that have united to strengthen the economic competitiveness of Northeast Ohio through grantmaking, research and civic engagement.
Formed in 2004, the Fund is a response to the forces of global economics that have made regions the central economic unit of the 21st century. Regions, not individual communities, must be able to compete for business investment and jobs in the global economy. The mission of the Fund is to improve the 16-county region of Northeast Ohio's (the Cleveland Plus region) ability to compete in the global economy. |
Cleveland Foundation President Ronn Richard (left) discusses the work of JumpStart with the nonprofit's president Ray Leach at the Fund's 2007 annual meeting. |
The Fund's members have raised more than $60 million and the majority of its charitable grantmaking has gone to regional economic development organizations that work to start, accelerate, attract, and grow companies in the region.
In addition, the Fund works with partners in Advance Northeast Ohio, the region's economic action plan, to develop and implement regional strategies that address four key priority areas of Business Growth & Attraction; Talent Development; Growth Through Racial & Economic Inclusion; and Government Collaboration & Efficiency.
The Fund began its second, three-year phase in early 2007. All members of the Fund that commit at least $100,000 to the collaboration are eligible to vote on how the Fund allocates its resources. The Fund members vote on grants and other matters quarterly.
The Fund is not a legal entity. Rather, its members have agreed to collaborate to support a select number of initiatives that acheive the objectives of Advance Northeast Ohio. The Fund's leadership team and numerous representatives from member organizations work with the Fund's small staff to oversee its grantmaking, research and civic engagement.
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