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Funding Sustainable Growth
For the Regional Economy

The Generation Foundation works collaboratively to help revitalize the Northeast Ohio economy and improve the quality of life for all of its four million citizens. It has made over $1.9 million in grants to early-stage nonprofit economic development organizations in life sciences, emerging technologies, innovative and advanced manufacturing, technology transfer, environmental remediation, and sustainability in the use of energy and water resources. Usually these are start-up organizations that would find it difficult to get other funding. The Foundation has worked with 50 other donors so that grants to organizations for which it was an initial funder have been leveraged by an additional $44 million in follow-on funding in addition to capital investments.

What's New....

Community West Foundation
Targets Economic Development

Collaboration— that synergy-creating process that allows grant makers to scale up their support of projects they have mutually chosen—took another step forward this month in Cleveland.

Community West Foundation, based in Rocky River,  has over $100 million in assets supporting organizations providing the basic needs of food, clothing, shelter and medical care to those in need. In a new partnership with The Generation Foundation, the two organizations will cooperate in a regional grant-making initiative to support economic development.

“The Community West Foundation’s partnership with the Generation Foundation will increase local innovative options to support job training, and has extraordinary potential to help our most vulnerable citizens overcome barriers and achieve employment and success in life,” said David T. Dombrowiak, Community West Foundation President and CEO.  “By working together we can strengthen our communities, create opportunities, and keep hope alive for people in need.”

Although the two foundations are separate entities, the Community West Foundation made a substantial grant to The Generation Foundation so that both organizations could reach significant scale in their economic development grant making. 

 With the help of its 21-member Advisory Board, the Foundation will continue to research, identify and fund potential grantees that are positioned to make the greatest impact on the Greater Cleveland economy.

“At a City Club meeting in 2001, The Generation Foundation proposed the idea that foundations could collaborate in a single focus area—economic development. At that time, a negligible amount of Northeast Ohio grants went to this sector,” said Peter K. Ranney, President. “Now, with powerhouse organizations like Fund for Our Economic Future aggregating funds from dozens of corporate, foundation and individual donors, millions of dollars a year  invigorate our economy and improve the quality of life of all in Greater Cleveland.”

Since its founding in 1997, The Generation Foundation has made $2 million in grants, mostly to technology-based startups. Grantees include Cleveland Clinic Innovations, NorTech, One Community, WIRE-Net, Fund for Our Economic Future and the initial research leading to the formation of BioEnterprise.

“This natural collaboration creates real synergy,” said William W. Baker, Community West Board Chair. “It allows us to expand our grant making footprint to include all of Northeast Ohio. Rebuilding the area’s economy so that it creates abundant quality new jobs is the bedrock of what we are currently doing for so many distressed families: Illuminating Hope.”

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 Spring 2015 
Generation Foundation Newsletter



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