The Cleveland Foundation Awards Over $15 Million To Local Nonprofit Organizations in Fourth Quarter Grants, Loans; $1.9 Million Dedicated to Economic Development

Business Wire, Dec 21, 2001

Business Editors

CLEVELAND--(BUSINESS WIRE)--Dec. 21, 2001

The Cleveland Foundation's Board of Trustees approved over $15,725,154 in grants and low-cost loans to Cleveland-area nonprofit organizations at its fourth quarter meeting on December 20.

The board awarded the grants and loans to organizations serving a variety of causes, including economic development, arts and culture and education.

The Foundation made its largest commitment, totaling $1,050,000 to Shorebank Enterprise Group for core operating support of the organization's community and economic development initiatives.

The Shorebank model of community development began nearly 30 years ago in Chicago. It was developed to fight the disinvestments that were taking place in South Side neighborhoods, resulting in negative impacts on housing and commercial development in the city's urban core.

In 1994, Shorebank was recruited to Cleveland to establish an affiliate in the city's Glenville area. Shorebank Cleveland has since formed a nonprofit arm, Shorebank Enterprise Group. Since its inception in Cleveland, the organization has made a number of contributions, including:

-- Over $75 million has been invested in Shorebank's targeted neighborhoods or
to minorities with an additional $15 million in new development loans expected
for 2001

-- Over 1,300 affordable housing units have been built or rehabilitated

-- Two hundred fifty small businesses have received financing and/or business
development assistance

-- Five hundred slots for childcare have been created as a result of financial
investments

-- The workforce development program placed 18 residents in jobs in 2000 and 25
to date in 2001

The Foundation made another significant grant in the economic development arena to the Economic Growth Foundation, a partnership between Cleveland Tomorrow and the Greater Cleveland Growth Association. The $650,000 grant will support implementation of the Team Northeast Ohio project, which will work towards:

1. Mobilizing business leadership to build a new, world-class

organizational capacity for the retention, expansion and

attraction of businesses throughout the region.

2. Focusing business retention and attraction efforts on a) the

300 companies employing the largest number of workers in the

region; b) industry clusters with the greatest growth

potential and c) companies that may be targeted for relocation

to the region.

3. Effectively communicating the region's competitive advantages

and business assistance resources to the three internal and

external market segments.

This commitment rounds out a series of grants made previously to the Economic Growth Foundation for advancement of their technology and minority business economic activities.

The Foundation made a $300,00 grant for core operations and 2002 programs to the Community Partnership for Arts and Culture.

Created in 1997, through a collaboration between The Cleveland Foundation, the Gund Foundation and the now-defunct Cultural Coalition, the Partnership provides cultural planning processes for the greater Cleveland arts community to structure a viable approach of developing local public support for the arts. Since publishing a cultural plan in May 2000, the group's accomplishments include:

-- Launching a comprehensive Web site for the community and for

arts and cultural organizations.

-- Collaboration with WVIZ to produce the weekly APPLAUSE

program, and with Playhouse Square and the Convention and

Visitor's Bureau to develop a half-price ticket outlet.

-- Developing an on-line, self-diagnostic tool in partnership

with National Arts Stabilization, for organizations to use in

assessing their structural strengths and weaknesses and as a

guide in developing capacity-building and strategic plans.

-- Spearheading the development and ultimate passage of new city

legislation creating artist live/work districts in the

downtown area.

The Cleveland Municipal School District (CMSD) received two grants, totaling nearly a half million dollars for two initiatives.

A $323,750 grant was awarded for the implementation of academic standards, an area that the District has made one of its top priorities. The CMSD will use the grant to support school-based professional development, communications and outreach to provide standards updates to principals, teachers, parents and community members, and for the creation of a standards-based report card.

An additional grant of $150,000 was awarded for teacher retention and recruitment.

The Cleveland Foundation, a public charity dedicated to enhancing the quality of life in Greater Cleveland, is the oldest and second-largest community foundation in the nation. Its establishment in 1914 is cited as one of 10 events that most heavily influenced the development of the nonprofit sector in the 20th Century and it continues to be a leader in its field. The Foundation has assets of approximately $1.6 billion and last year awarded more than $72 million in grants and low-cost loans to Cleveland area nonprofit organizations.

The Cleveland Foundation is made up of more than 800 funds created by individuals, families, organizations and corporations. It offers donors of all means the opportunity to have a lasting impact on their community while maximizing income, gift and estate tax benefits.