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Gund Foundation Commits $4 to Phase 3 of the Fund

CLEVELAND--Sept. 25, 2009--The George Gund Foundation increased its support to the Fund for Our Economic Future, a collaborative effort to improve Northeast Ohio’s economy, with a three-year $4 million grant.

The Fund, which was launched six years ago, is a collaborative of more 60 organizations and individuals that have pooled resources to strengthen regional competitiveness through grantmaking, research and civic engagement. The Foundation’s previous commitment had been $3.1 million over three years. “In a time of economic stress it is more important than ever that our region’s leadership and resources pull together,” said David Abbott, Foundation executive director. “A collaboration such as the Fund, tackling the tough systemic issues we face, is really hard work. But joining forces makes far more impact than disconnected effort, and our trustees feel strongly that increasing our investment in the Fund signals our strong belief in collaborative action. Our increased funding also reflects the impact that the Fund has made and the fact that the Fund’s work is critical for the success of the other organizations we support in fields ranging from the arts to education.” The grant was among 50 totaling $5,582,074 made by Foundation Trustees at their September meeting. The George Gund Foundation was established in 1952 by George Gund, former chairman of the Cleveland Trust Company. The Foundation funds programs that enhance our understanding of the physical and social environment in which we live and increase our ability to cope with its changing requirements. Grants are made quarterly in the areas of education, human services, economic and community development, environment and arts. Foundation commitments to date have totaled almost $534 million.