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GUND FOUNDATION CONTRIBUTES $4 MILLION DOLLARS
Submitted by jerleen1 on Mon, 09/28/2009 - 21:22.
A little bit of good news from those who do good things.....
The George Gund Foundation has contributed $4 million to the Fund for Our Economic Future.
The Fund is in its third phase of trying to boost the region's economy through collaboration with local foundations, corporations and individuals. The Fund's trustees contributed a total of $5.5 million to the organization at their September meeting.
The Gund Foundation had contributed $3.3 million to the Fund in its second phase, but decided to increase its support significantly in the third phase due to the recession, said David Abbott, executive director of the Gund Foundation.
"We felt the need is greater than ever for the Fund and its work to continue not just because of the long-term economy, but for the transformation we're undertaking" due to the recession, he said.
Mr. Abbott said the Fund has made great strides to improve the local economy but it has a long way to go and cannot complete the task alone. As a result, he said the Fund will concentrate on involving even more people, foundations and corporations in its work.
The Fund collaborates with others in the 16-county region to improve the region's economic competitiveness in four priority areas:
* Business Growth & Attraction
Launched in February 2004, more than 100 foundations, organizations and individuals have contributed more than $55 million to the Fund. Outcomes of the Fund's work can best be seen in the companies that are being assisted by our major grantees. Get a look at the future of Northeast Ohio's economy.
The Fund is in its second, three-year phase of work. In Phase 2, the Fund is collaborating with partners in the public and private sectors to implement Advance Northeast Ohio, the region's economic action plan.
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