The Burton D. Morgan Foundation has made a significant commitment to fostering entrepreneurship in Northeast Ohio, awarding a total of $3.2 million in grants aimed at energising the local economy and supporting innovative programmes. This substantial funding reflects the foundation’s ongoing mission to cultivate the entrepreneurial spirit in the region.
Supporting Local Entrepreneurs
As Dan Hampu, president and CEO of the Burton D. Morgan Foundation, stated, “We are thrilled to support entrepreneurs across Northeast Ohio with resources and opportunities.”
These investments are tailored to empower dedicated organisations and innovative initiatives, laying a foundation for future growth and sustainability in the entrepreneurial landscape.
Key Recipients of the Grants
Here’s a closer look at how the funds are allocated:
- Ashland University: $80,000
- BRITE: $50,000
- Cleveland State University Foundation: $20,000
- Hebrew Free Loan Association: $50,000
- Kent State University Foundation: $40,000
- Manufacturing Advocacy and Growth Network: $17,800
- North Hill Community Development Corp.: $20,000
- Purdue University: $10,000
- Summit Artspace: $20,000
- Western Reserve Community Fund: $200,000
Focus on NEOLaunchNET Initiative
In addition to the above grants, the foundation has committed $1.67 million over the next two years to support the NEOLaunchNET initiative. This programme is designed to assist students, alumni, staff, and faculty at Northeast Ohio colleges and universities who are interested in entrepreneurship and innovation.
Grant Distribution for NEOLaunchNET
- Baldwin Wallace University: $280,000
- Case Western Reserve University: $360,000
- John Carroll University: $290,000
- Kent State University Foundation: $425,000
- Lorain County Community College Foundation: $315,000
Supporting Youth Entrepreneurship
Recognising the importance of fostering young entrepreneurs, the foundation has also allocated $943,000 in grants to support youth entrepreneurship through the YIPPEE Exchange programme. This initiative focuses on empowering educators and engaging students.
Youth Entrepreneurship Recipients
- Effective Leadership Academy: $5,000
- Emmanuel Christian Academy: $20,000
- Junior Achievement of Eastern Ohio: $100,000
- Junior Achievement of Greater Cleveland: $120,000
- Junior Achievement of North Central Ohio: $270,000
- Project Invent: $20,000
- University School: $408,000
Enhancing Free Enterprise Education
Among the grants awarded, Ashland University received $80,000 to bolster the Morgan Center for Free Enterprise and Entrepreneurship. This centre is crucial for fostering knowledge and understanding of free enterprise principles among students.
Community Grants for Hudson
The foundation hasn’t forgotten about local communities. It awarded $53,500 in grants to support various organisations in Hudson, further solidifying its commitment to community development.
Hudson Community Recipients
- Destination Hudson: $6,000
- Hudson City Schools: $10,000
- Hudson Community First: $6,000
- Hudson Community Foundation: $2,500
- Hudson Community Service Association: $8,000
- Hudson Montessori School: $5,000
- Hudson-Landsberg Sister City: $5,000
- Leadership Hudson: $3,000
- Music from the Western Reserve: $3,000
- The Hudson Players Guild: $5,000
The Legacy of Burt Morgan
Philanthropist Burt Morgan established the foundation in 1967 with a clear mission: to champion the entrepreneurial spirit and create a robust ecosystem for entrepreneurship education. His vision continues to thrive as the foundation empowers individuals and organisations across Northeast Ohio.
Conclusion: A Bright Future for Entrepreneurship
The Burton D. Morgan Foundation’s generous grants will undoubtedly have a profound impact on the entrepreneurial landscape in Northeast Ohio. By investing in education, innovation, and community development, the foundation is paving the way for future generations of entrepreneurs.
This commitment to fostering entrepreneurship not only strengthens the local economy but also enriches the community’s spirit.
As we move forward, it’s clear that the foundation’s efforts will continue to resonate, inspiring countless individuals to pursue their entrepreneurial dreams.
Suggested links for further info.
- Burton D. Morgan Foundation: Explore the Foundation’s Impact
- Entrepreneurship Grants: Understanding Entrepreneurship Grants
- Youth Entrepreneurship: Empowering Young Entrepreneurs
- NEOLaunchNET: Learn About NEOLaunchNET
- Community Development: Importance of Community Development
