Burton D. Morgan Foundation pledges $1.5 million for Build Back Better projects

The Burton D. Morgan Foundation has pledged $1.5 million to support two local projects of the Economic Development Administration’s Build Back Better Regional Challenge.

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Trustees of the Hudson-based foundation approved the grants at their board meeting in June. The challenge aims to develop regional industry while embracing economic equity, creating good-paying jobs and enhancing U.S. competitiveness.

The foundation awarded JumpStart a $1 million grant to support entrepreneurial services and programming in Northeast Ohio. JumpStart leads one of eight projects included under Northeast Ohio’s joint proposal for the Build Back Better Regional Challenge, which seeks “to align regional assets and bolster its advanced manufacturing cluster, with a focus on energy storage and advanced materials.” Grant dollars would be used as a cash match for the initiative if it is awarded.

“We are deeply appreciative of this support,” said Ray Leach, president and chief executive officer of JumpStart Inc., in a news release. “It is meaningful to have philanthropic leaders like Burton D. Morgan Foundation, who understand the power of entrepreneurship and partner to impact inclusive economic growth. Through this partnership, we will deepen our collective impact by providing entrepreneurs access to the services, connections and capital they need to grow and through transformational collaborations like Build Back Better.”

The University of Akron Foundation was awarded a conditional grant of $500,000 to support its cash match toward the Build Back Better initiative, which would lead to construction of a polymer research, development and production facility.

“We are grateful for Burton D. Morgan Foundation’s support of The University of Akron’s Build Back Better grant application match requirement, ” said Kimberly Cole, executive director for the University of Akron Foundation, in a prepared statement. “Their partnership here loudly demonstrates our region’s strength and commitment to harnessing this economic opportunity. Again and again, leaders in all sectors in Northeast Ohio come together to turn high-impact ideas into reality that build on the talent and assets of our University and our region.” 

The Economic Development Administration is expected to announce award decisions in September.

Additionally, trustees awarded $663,050 in grants that will support entrepreneurship programming and opportunities for youths, college students and adults in Northeast Ohio. Recipients include:

• Cuyahoga County Public Library: $100,000 to support an innovation center at the Solon branch.

• Purdue University: $60,000 for co-curricular entrepreneurship programming for two years.

• University School: $303,050 to support Young Entrepreneur Institute in the 2022-23 academic year.

• Western Reserve Community Fund: $200,000 for loan capital to support small business lending.

Other grants include:

• Crafty Mart: $12,500 for the 2022 Maker Sessions, which includes Launch Market and Creative Catapult.

• Community Initiatives: $20,000 for operating support for Entrepreneurship Funders Network.

• Hudson City School District: $3,000 for the Six District Educational Compact.

• Kent State University Foundation: $1,000 for transportation costs associated with the Deshpande Symposium.

• Kent State University Foundation: $15,303 to conduct studies related to year 3 EntrepreNew evaluation work.

• Leadership Ohio: $5,000 for the two-day Leadership Ohio Akron session.

• North Akron Community Development Corp.: $20,000 to support NoHi and Market House operations.

• SEA Change Inc.: $20,000 for the 2022 Northeast Ohio Signature Cohort focused on social enterprise.

• Summit Artspace: $20,000 to support artist entrepreneurship programs

• Teen Enterprise Foundation: $5,000 to support the Young Entrepreneur Pop Up Shop Challenge

• University of Massachusetts-Lowell: $20,000 to support the Deshpande Symposium in Cleveland.

• University School: $20,000 for the Greg Malkin Fund for Youth Entrepreneurship.

• University School: $20,000 for sponsorships on the YIPPEE site.

• Venture for America: $10,000 for the San Antonio Fellows program.

• VentureWell: $10,000 to sponsor the Open 2022 Conference

Grants awarded for Hudson initiatives include:

• Destination Hudson:  $6,000 for operating and program support.

• Hudson City School District: $10,000 to support Hudson Middle School Clubs.

• Hudson Community First: $6,000 for the Career Panel and Intern for a Day Program.

• Hudson Community Foundation: $2,500 for the Hudson Bandstand fund, for the 2022 summer concert series.

• Hudson Community Foundation: $2,500 for educational programming focused on inclusive entrepreneurship.

• Hudson Community Service Association: $8,000 for the food pantry program.

• Hudson-Landsberg Sister City: $5,000 for the Christkindlmarkt event.

• Hudson Montessori School: $5,000 for operating support.

• Music from the Western Reserve: $3,000 for the 2022-23 concert season.

The foundation also made a $50,000 grant to Razom for the Emergency Response Project providing critical humanitarian war relief and recovery in Ukraine.

Philanthropist Burt Morgan established the foundation in 1967. Its mission is to champion the entrepreneurial spirit, contribute to a robust entrepreneurial ecosystem and serve as a leader in the field of entrepreneurship education.

For more information, visit https://www.bdmorganfdn.org/.

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This article originally appeared on Akron Beacon Journal: Foundation pledges $1.5 million to Build Back Better