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Investments

2

About The Fund for Our Economic Future

The Fund for Our Economic Future is a philanthropic collaboration to advance job creation in Northeast Ohio.

The Fund for Our Economic Future Headquarter Location

Cleveland, Ohio,

United States

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Latest The Fund for Our Economic Future News

Fund for Our Economic Future names Mark Samolczyk as chair

Dec 11, 2017

The collaborative, philanthropic group of funders on Monday, Dec. 11, announced that its members have elected Mark Samolczyk, president and CEO of the Stark Community Foundation , as chair. Samolczyk, who becomes the Fund's fifth chair, succeeds Brian Frederick, who recently retired as president and CEO of the Community Foundation of Lorain County. "I'm thrilled to take on this new role," Samolczyk said in a statement. "The Fund is the leader on inclusive economic growth in our region, and I hope to further bring to ground its research, expertise, and regional economic development strategy and support in our local communities." Samolczyk's term will run through March 2020. At that time, he will be eligible for a second, and final, two-year term. He joined the Stark Community Foundation in October 2009. Prior to joining the foundation in 2009, Samolczyk was senior vice president of corporate planning and development for Timken Co. With the Fund, Samolczyk has served as vice chair and on several committees and due diligence teams. He also sits on a number of civic boards, including Team NEO, JumpStart, the Stark Economic Development Board and the Downtown Canton Land Bank. Samolczyk was elected during the Fund's final meeting of the year, which took place last Thursday, Dec. 7. At that meeting, fund members also approved grants designed to advance the Fund's mission of increasing economic growth and access to opportunity for all people of Northeast Ohio. Awards were as follows: • Up to $400,000 to BioEnterprise for one year of operating expenses to advance the region's biomedical cluster, including its work to provide business growth services to biomedical companies and its health information technology talent initiative to grow talent for the sector and improve access to jobs for more people across Northeast Ohio. • Up to $270,000 to MAGNET to support its Partnership for Regional Innovation Services to Manufacturers (PRISM) program, which helps small and midsize companies innovate and reach their growth potential. • Up to $50,000 to support Magnet's Early College Early Career youth apprenticeship program, which aims to connect inner-city and rural students directly to open, high-paying positions available in the region's manufacturing sector. MORNING ROUNDUP Business headlines from Crain's Cleveland Business and other Ohio newspapers — delivered FREE to your inbox every morning. Sign up for the Morning Newsletter.

The Fund for Our Economic Future Investments

2 Investments

The Fund for Our Economic Future has made 2 investments. Their latest investment was in Team NEO as part of their Grant on December 12, 2016.

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The Fund for Our Economic Future Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/14/2016

Grant

Team NEO

$0.65M

Yes

2

12/14/2016

Grant - II

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$99M

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10

Date

12/14/2016

12/14/2016

Round

Grant

Grant - II

Company

Team NEO

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Amount

$0.65M

$99M

New?

Yes

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Co-Investors

Sources

2

10

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