February 2010 update from the Fund for Our Economic Future and the work of its grantees.

1. F U N D F O R O U R
E C O N O M I C F U T U R E
February 2010 Members Newsletter
Venture Dollars Slow, But Still Flow
The 2009 Venture Capital Report for the Cleveland Plus Region issued in
Northeast Ohio by January found that between 2005 and 2009, $1.1 billion has been invested by venture
the Numbers capitalists and angel investors in 183 unique companies in the region. In the last five
years, these 183 Northeast Ohio companies have received 348 investments, contributing
to Ohio’s 2009 ranking as a top ten state for investment deal activity.
125
However, 2009 was a disappointing year for venture investment in the region,
with only $99 million raised, compared to $260 million in 2008.
Despite the overall drop in venture deals, investments in young companies
Ohio companies will receive
(described as seed stage investment) peaked in 2009, with 32 companies attracting
nearly $125 million in clean-energy
investment.
manufacturing tax credits
“The fact that investment actually increased in seed stage companies in 2009
is an indicator of the commitment of the region’s investors and the State of Ohio to
41
commercializing technologies,” says Ray Leach, CEO of JumpStart Inc. “Seed stage
investors in the region are priming the pump for later stage investors, enabling them
Cuyahoga County’s land
to find competitive investment opportunities here.” Over the past five years, more than
bank received nearly $41 million
170 seed stage investments have been made.
to demolish blighted homes and
renovate others The Venture Capital Advisory Task Force that compiled the report is comprised
of more than 40 investors in the Cleveland Plus region. The report is paid for by the
4
Fund for Our Economic Future.
Collaborative efforts The 2009 Venture Capital Report for the Cleveland Plus™ Region
For Policy Makers
of four entities (the Global
Over $1 Billion of Venture Capital Invested in the last Five Years
Cardiovascular Innovation Center, has Created Thousands of Jobs, with Thousands More Projected.
Jobs Are Being Created at Every Stage of Growth
Team NEO, the State of Ohio and Today: A Thriving Pipeline of Growing Companies SEED BSKLive is an IT company whose flagship product, StaffKnex, is a web-based application that
combines staff scheduling and other functions into an automated staff management system. The
the City of Akron) attracted Israeli $1.1 billion dollars have been invested by angel and venture capital investors in 183 unique Cleveland Plus regionentrepreneursince 2005*, raised $550,000 of seed funding in 2008,
company, led by serial companies Mark Woodka,
demonstrating that our region is starting and growing the innovative companies and large scale employers of our future. In 2009, during2009, and has grown its team to nine full time employees.
followed by a $1.3 million Series A round in a
year in which venture capital investing was down 38 percent nationally, our region saw seed stage investment at its highest level in the
biomedical device company region’s pipeline of growing companies. EARLY
last four years. Over the past five years, more than 170 seed stage investments have beenMAR Systems’ process forthe Cleveland Plus and other metals from water has already proven
made, continuously filling removing mercury
over 100 times more effective than competitive methods. The company has grown due to seed
These investment dollars are funding companies in globally competitive, high tech industriesinvestment, followed by a $1 million Series A round in 2007, and a $1.5 million Series B round in
such as Healthcare, Cleantech, and IT.
NI Medical Ltd. to Akron 2009. With this funding, the company plans to grow its current seven-person team to 50 people in 2010.
EqUITY INVESTMENTS BY SECTOR
[$ Millions 2005-2009] [2005-2009] GROWTH
NUMBER OF COMPANIES BY SECTOR PartsSource is the nation’s only alternative parts aggregator for hospital equipment parts. The
company is led by Air Force veteran Ray Dalton, currently employs over 200 people, and hires
Business & Consumer Products & Business & Consumer an additional four to six people per month. The previously angel-backed company raised a $50
Healthcare
Services & Agriculture Products & Services
& Agriculture
million growth capital round in 2008,n Information
Healthcare and its revenues grew by 338% in 2009.
Information 136
n Healthcare Services, Technology
EXIT
35 25 MemberHealth, a pharmacy benefits management company, grew rapidly and was acquired
Healthcare IT & Other
Technology 261 n Business &
112 11 by UniversalnAmerican in 2007 for $630 million. Prior to the acquisition, MemberHealth
Biopharmaceuticals
Consumer
4
n Medical Devices & Products &
employed 160 people; now, Universal American’s Cleveland office employs 250 and the
Equipment Services &
63 company ranks 494 in the Fortune 500. Agriculture
33
48 46
206
Cleantech
262
Information Tomorrow: $1.2 Billion in Venture Capital Will Be
18
n Advanced
Technology 12 Specialty Materials
Cleantech
Needed to Deliver Growth andChemicals
& Thousands More Jobs
Healthcare n Energy
3The Venture Capital Advisory Task Force, comprised of over 40
Cleantech n Environmental
investors in the Cleveland Plus region, has determined that at
least an additional $1.2 billion in private sector venture capital
investment will be needed over the next five years to continue the
Today and Tomorrow: Thousands of Jobs Created growth of the companies in the pipeline and create thousands of
additional jobs.
According to the National Venture Capital Association, a job is created for every $26,435 of private sector capital invested, which
equates to 40,700 jobs that have been and will be created from the $1.1 billion raised by Cleveland Plus companies in the last five
years. These jobs feed into an ecosystem of growth in the high tech sector in Northeast Ohio:
• Ohio is in the Top 10 for medical device jobs in the country and venture-backed Cleveland Plus area companies such as AxioMed
Spine, CerviLenz, IMALUX, Orthohelix Surgical Designs, Synapse BioMedical, Trek Diagnostics, and ViewRay are the programs of the State of Ohio, some of which are currently pending
Current investment incentives and funding types of
firms that will continue to keep Ohio ranked highly. approval in the state legislature, are critical to maintaining this projected flow of private sector venture capital
ffef
• Ohio has the 4th highest number of cleantech jobs in the country the venture-backed Cleveland Plus area companies such as
into and Cleveland Plus region.
Five Star Technologies, Logos Energy, MAR Systems, Ovation Polymers, rexorce Thermionics, and Sorbent Technologies are the
types of firms that will keep Ohio standing strong on this front. Ohio Third Frontier Technology Investment Tax Credit The Ohio Capital Fund
• Ohio’s high tech employment has grown faster than almost all other Midwest states funded percent versus an averagetax credit is for taxpayers who
Third Frontier has – 6.4 four pre- This of 4.3 This fund provides capital to investment
percent in other Midwest states. Nowhere is this more true than in the Cleveland Plus region.supported
seed and seed funds and invest in small, Ohio-based technology funds to increase investing in Ohio
the growth of over 800 innovative companies. companies.
companies in the Cleveland Plus region Over $20 million in private sector 10 Cleveland Plus area investment funds
*Annual Equity Capital Raised by Cleveland Plus Area Companies: 2005: $259 million, 2006: $158 million, 2007:and indirectly. Statewide, it 2009: $99 millioncapital has been invested in over 200
directly $317 million, 2008: $260 million, have received monies from which $64
has catalyzed innovation and created Cleveland Plus area companies as a million has been invested in Cleveland
41,300 jobs already, with the potential result of the tax credit. Plus area companies for their growth.
to create thousands more.
Special thanks to the Fund for Our Economic Future for
www.jumpstartinc.org www.nortech.org www.bioenterprise.com underwriting this report. www.futurefundneo.org
February 2010 Members Newsletter

2. Northeast Ohio Health Care Startups
Raise $66 Million in 2009
As part of its work to grow health care companies and commercialize bioscience
technologies in Northeast Ohio, BioEnterprise closely monitors private investment
across biotechnology, medical device and health care software and services – with a
special focus on trends, financings and opinions in the Midwest region.
The organization’s latest Midwest Health Care Venture Investment Report found
that health care startups in the Midwest attracted $780 million in new investments
across 156 companies in 2009. Northeast Ohio accounted for $66.6 million of the new
Northeast Ohio by
investments across 21 companies – the third highest number of companies in
the Numbers the Midwest.
50
The total number of investments across the Midwest in 2009 is comparable to
2008, but the funding level represents a 26% drop from 2008, reflecting a similar drop
nationally in health care venture investing.
San Francisco-based
Revere Data opened a Youngstown
“This was a difficult year for emerging health care ventures in the Midwest
office and plans to hire and nationally,” said Baiju R. Shah, president & CEO of BioEnterprise. “The global
50 employees within two years recession combined with the industry uncertainties related to U.S. health care reform
dampened investment.”
123
The full Midwest Health Care Venture Investment Report is published yearly.
Editions dating back to 2005 are available at www.bioenterprise.com.
Business expansion projects News from
in Wayne County totaled more than Midwest Health Care Startups Raise $780 Million in 2009
$123 million in 2009
Minnesota Leading State
Cleveland, OH, January 29, 2010 – Midwest health care startups attracted $780 Million
in new investments across 156 companies in 2009 according to the BioEnterprise Table: Midwest Health Care Venture Investment (By State)
Midwest Health Care Venture Investment Report.. While the total number of
investments is comparable to 2008, the funding level represents a 26% drop from 2008,
State 2009 2008 2007 2006 2005
reflecting a similar drop nationally in health care venture investing. Minnesota
$ # of $ # of $ # of # of $ # of
companies collectively attracted the most investment dollars within the Midwest.
Millions Cos. Millions Cos. Millions Cos. $ Millions Cos. Millions Cos.
70
Illinois 38.9 8 97.3 13 125.5 7 101.6 12 39.2 7
“This was a difficult year for emerging health care ventures in the Midwest and
nationally,” said Baiju R. Shah, President & CEO of BioEnterprise, the Cleveland-based
Indiana 76.3 14 75.4 7 135.6 10 37.2 8 23.1 4
biomedical venture developer. “The global recession combined with the industry Iowa 36.8 3 4.0 1 - - - - - -
uncertainties related to U.S. health care reform dampened investment.” Kansas 4.3 5 16.9 9 56.6 6 - - - -
Kentucky 97.3 7 19.2 6 32.0 4 51.4 4 19.3 2
By sector, the 2009 equity funding was allocated as follows: Michigan 102.2 14 105.0 12 56.2 5 135.5 11 52.9 8
The Minority Business • Medical device companies: $264 million (34%) Minnesota 199.0
65.8
23
8
318.9
50.2
22
11
296.1
69.6
25
7
233.9
39.2
22
10
151.0
71.9
18
9
• Biopharmaceutical companies: $378 million (48%) Missouri
Accelerator 2.5+ has generated • Health care software and service companies: $139 million (18%) Ohio
Western
105.4 40 189.1 43 295.5 44 113.9 39 185.4 18
37.8 24 126.2 33 101.4 17 54.4 22 58.3 10
$70 million in new deals for
“While the dollars to biotech companies are larger, the number of companies attracting Pennsylvania
capital is balanced between biotech and medical devices,” Shah continued. “This Wisconsin 16.2 10 48.5 8 56.2 12 25.2 7 39.3 6
reflects the industry balance in the Midwest as compared to the coasts.” Total 780.0 156 1,050.5 165 1,224.7 137 792.3 135 640.4 82
16 minority companies The Midwest Health Care Venture Investment Report includes all reported numbers and
regionally collected data. For complete state and region results across the Midwest, see Table: Midwest Health Care Venture Investment (By Region)**
the attached table. To view additional data about Midwest health care business activity
visit http://www.bioenterprise.com/reports/index.html. Region 2009 2008 2007 2006
# of $ # of # of # of
1
$ Millions Cos. Millions Cos. $ Millions Cos. $ Millions Cos.
Chicago 38.9 8 97.3 13 125.5 7 101.6 12
Indianapolis 41.2 9 73.0 6 113.6 8 18.4 6
West Lafayette 28.2 3 2.5 1 22.0 2 18.8 2
Louisville 2.5 4 13.4 3 6.2 2 11.4 3
Detroit-Ann Arbor 68.8 7 89.0 8 56.2 5 98.3 8
SW Michigan 14.5 5 16.0 2 - - 6.7 2
Minneapolis 199.0 23 318.9 22 296.1 25 233.9 22
St. Louis 27.8 7 47.2 10 57.6 6 20.2 9
Kansas City* 42.3 6 19.9 10 68.6 7 19.0 1
Cincinnati* 121.2 8 19.2 2 64.6 10 13.6 4
Cleveland 66.3 21 163.5 31 241.8 28 87.9 23
Columbus 12.4 13 6.4 10 14.2 7 12.4 12
Pittsburgh 37.8 24 126.2 33 101.4 17 54.4 22
Wisconsin 16.2 10 48.5 8 56.2 12 25.2 7
* Border MSAs such as Kansas City and Cincinnati include deals from both states in those geographies; deals are
aggregated into state totals based on the MSA’s principal state
**Regions’ totals do not equal states as not all areas are included in list of regions
Sources: Compiled by BioEnterprise team from Venture Wire, Private Equity Week, Wall Street Journal, Venture Source,
SEC Filings, company press releases, and www.biospace.com.
2
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3. EfficientGovNow Engagement Meetings
Sweep the Region
Representatives from the Fund for Our Economic Future and Kent State
University’s Center for Public Administration & Public Policy have been hitting the road
across Northeast Ohio to encourage the public and government officials to participate
in Round 2 of EfficientGovNow.
Entities participating in recent and upcoming EfficientGovNow engagement
meetings include:
Northeast Ohio by Ashland Area Council for Economic Development
the Numbers Ashland City Council
45
Ashtabula Growth Partnership
Burton Middlefield Rotary
Cleveland Clinic’s Global Chagrin Valley Intergovernmental Council
Cardiovascular Innovation Center City of Medina, Montville, Lafayette and York Townships
has awarded $13 million to 45 Cleveland City Council Caucus
companies in just two years
First Suburbs Consortium
Lorain County Community Alliance
37
Medina County Economic Development Corporation
Northeast Ohio’s Medina County Township Trustees Association
biomedical industry has grown by Northeast Ohio Four County Regional Planning and Development Organization
37 percent in the last five years, Northeast Ohio Trade & Economic Consortium
outpacing the national average
Portage County Township Trustee Association
Richland County Regional Planning Commission
Stark Development Board
Tri County Municipal Clerks
Western Reserve Municipal Clerks
Similar meetings last year helped persuade 294 government entities, representing
14 of Northeast Ohio’s 16 counties, and their partners to submit 65 project ideas to the
first round of the competitive grants program. In the second round, the Fund hopes to
attract even more project ideas from the region’s government officials, as well as entries
from all 16 counties. The deadline for government officials to submit a project abstract
for Round 2 of EfficientGovNow is February 26.
Updates on the progress of engagement efforts, as well as details about the
second round of EfficientGovNow, are available at www.efficientgovnow.org.
ffef February 2010 Members Newsletter
Pg. 3

4. BioEnterprise and Team NEO Amp Up
Biomedical Company Attraction
Northeast Ohio’s robust biomedical cluster is getting a shot in the arm from
a collaboration between BioEnterprise and Team NEO. The two Fund grantees have
been collaborating on a targeted marketing campaign to attract additional medical
device companies to the 16-county Plus region.
Through an informative new Web site ( www.clevelandplusbiomedical.com ),
ongoing national and trade media stories and targeted business development efforts,
the initiative aims to:
>> Attract new businesses and jobs in core regional
MEDICAL DEVICES
strengths: medical imaging, orthopedics, cardiovascular and
neurostimulation
Behind Cleveland’s >> Promote Northeast Ohio’s biomedical cluster as an ideal
BioMed Hub location for medical device business growth because of the
Company executives credit their success
to the area’s deep pool of resources.
access to funding, talent, support entities, suppliers, customers
and collaborative partners, such as the Cleveland Clinic, Case
by MARK AREND velop the critical mass for
m a r k . a r e n d @ c o n w a y. c o m a sustainable biomedical
industry cluster,” says Peter
C Western Reserve University, Summa Health System, University
Gingras, president and
leveland’s aspirations of being CEO of Proxy Biomedical,
a leading center of biomedi- Inc., which makes bioma-
Hospitals and the Austen BioInnovation Institute in Akron
cal device manufacturing will terials for the repair and
take a step forward when the regeneration of tissue. “The
Medical Mart and Conven- development of the Euclid
tion Center opens in 2013. A site on the Corridor and the Medi-
city’s downtown mall, chosen in January cal Mart will help the city
2009, will accommodate 120,000 sq.
ft. (11,150 sq. m.) of permanent show-
rooms, 300,000 sq. ft. (27,870 sq. m.) of
in attaining this critical
mass and lead to additional
growth,” he predicts. (The
The offices of Quality
Electrodynamics, led by
>> Increase the Plus region’s brand awareness and position
in core industries
exhibit halls and 100,000 sq. ft. (9,290 Euclid Corridor is a trans- President and CEO Dr. Hiroyuki
Fujita (left), have doubled
sq. m.) of conference center space. The portation project involving in staff every 18 months.
center, being developed by MMPI — rapid transit and diesel-
manager of Chicago’s Merchandise electric vehicles on Euclid
Mart, among other properties — will Avenue.)
bring together buyers and sellers of
medical equipment and help showcase Catalysts for Growth
initiative of the Cleveland Clinic, Uni-
versity Hospitals, Case Western, Summa To date, the campaign has secured 15 national/trade media
Cleveland’s substantial healthcare and What’s already in place is just as Health System and the BioInnovation
biotech communities.
“Cleveland is on the path to de-
important as what lies ahead. Two
organizations are behind much of the
Institute in Akron that cultivates health-
care companies and commercializes placements, including stories in Expansion Solutions magazine,
recent growth in the area’s bioscience technologies.
medical device and equip-
ment sector — the Global
“Access to funding is essential for
biomed companies to grow,” says Gin- Site Selection magazine and the Medical Device Daily technology
Cardiovascular Innova- gras. “GCIC and BioEnterprise, and the
tion Center (GCIC) and
BioEnterprise. GCIC is a
US$250-million research
connections to funding resources these
organizations provide, demonstrate the
area’s commitment to providing finan-
newspaper.
and product development
consortium founded in
2007 with funding from
cial resources that will help the cluster
continue to grow.”
Dr. Hiroyuki Fujita, president and
More information about the effort, as well as what makes
Ohio’s Third Frontier Proj-
ect. The Cleveland Clinic
leads the effort with par-
CEO of Quality Electrodynamics
(QED), a maker of MRI RF coils for hu-
man body imaging founded in Cleveland
Northeast Ohio an attractive biomedical hub, is available at
www.clevelandplusbiomedical.com.
ticipation from Case West- in 2005, concurs.
ern Reserve University, “The region will continue to grow,
Peter Gingras (right), President Ohio State University, the because it provides biomedical compa-
and CEO of Proxy Biomedical, Universities of Toledo and nies the resources necessary to thrive,”
Inc., says development of the Cincinnati and University he says. In February 2009, QED moved
Euclid Corridor and the new
Hospitals of Cleveland. from 3,000 sq. ft. (279 sq. m.) of space
Medical Mart will help Cleveland
achieve critical mass for the GCIC has funded 45 com- to a 27,000-sq.-ft. (2,500-sq.-m.) facility.
biomedical industry. panies thus far. The company doubles its staff approxi-
BioEnterprise is an mately every 18 months and currently
784 NOVEMBER 2009 SITE SELECTION
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5. Report Indicates Northeast Ohio Benefits
from Diversifying Industry
Northeast Ohio is trending closer to the United States in this current recession
than in the 1981 recession, according to the most recent edition of Team NEO’s
quarterly Cleveland Plus Economic Review.
Compared to the 1981 major recession in which Northeast Ohio significantly
lagged behind the United States in employment and GRP, these indicators in the
16-county region of Northeast Ohio are trending closer to national averages in this
Northeast Ohio by recession.
the Numbers The review indicates that this improvement is likely due to Northeast Ohio’s
change in industry mix. Nearly 30% of the region’s GRP depended on the manufacturing
25
industry in 1981, compared with 12% today. The Cleveland Plus region’s economy
is now more diversified, with increases in health care, headquarters, professional,
Phycal, a JumpStart portfolio scientific and technical services, and other industries.
company creating algal biofuel, More information and the complete report are available at
was one of BusinessWeek’s www.clevelandplusbusiness.com.
“25 Most Intriguing Companies.”
33
December 2009 | Volume 3, Issue 4
Our partners include:
Greater Cleveland Partnership
Greater Akron Chamber
Stark Development Board
Thirty-three Northeast Ohio
Team Lorain County
The Cleveland Plus Economy
Youngstown-Warren Regional Chamber
Medina County Economic Development Corporation ®
Growth Partnership of Ashtabula County
cleantech companies have received
venture or angel investment in the
Through Two Recessions
The U.S. has experienced two major recessions in Therefore, today it is important to know how
last five years the last 30 years: one beginning in 1981, and the we are doing in comparison – both to the 1981
Cleveland current recession, which began in 2007. In the 1981 recession and to the nation. To evaluate this,
recession, the Cleveland Plus region saw much the following report looks at the Cleveland
Plus ®
greater declines in employment and Gross Regional Plus region’s performance through the first
Product (GRP) than for the U.S. as a whole. seven quarters of each recession.
Economic
Review
December 2009
Volume 3, Issue 4 Current NEO vs U.S. Employment
1981 vs. 2007 Recession
Recession +2% +2%
Diversifying Industries Trending 0
-2% U.S. ‘81
0
-2%
% Change
% Change
Closer to U.S. -4% U.S.‘07 -4%
Positively Impacting -6%
NEO ‘07
-6%
Cleveland Plus Economy: An indicator of regional
-8% -8%
NEO ‘81
-10% -10%
economic strength is the Q3 in ‘81 vs.
Q4 in ’07
Q4 in ‘81 vs.
Q1 in ’08
Q1 in ‘82 vs.
Q2 in ’08
Q2 in ‘82 vs.
Q3 in ’08
Q3 in ‘82 vs.
Q4 in ’08
Q4 in ‘82 vs.
Q1 in ’09
Q1 in ‘83 vs.
Q2 in ’09
Q3 in ‘81 vs.
Q4 in ’07
Q4 in ‘81 vs.
Q1 in ’08
Q
A Northeast Ohio View of the Global Recession of employment
comparison U.S. in ‘81 NEO in ‘81 U.S. in ‘07 NEO in ‘07 U.S. in ‘81
and GRP indexes. During the
1981 recession, Cleveland Plus > From 1981 to 2007, Source : Economy.com and Ohio LMI
employment and GRP rate Employment has increased
www.clevelandplusbusiness.com
dropped more sharply than the by nearly 100,000 individuals
U.S. During the current recession,
NEO vs U.S. Employment and GRP are only
employment NEO vs U.S. GRP
1981 vs. 2007 Recession 1981 vs. 2007 Recession
now approaching the decline
experienced in 1981. And, the
+2% +2%
change in Cleveland Plus
0 0
employment and GRP is U.S.‘81
-2% -2%
tracking much closer to the U.S.‘81
% Change
% Change
U.S.‘07 U.S. ‘07
-4%
changes for the U.S. In this -4%
NEO ‘07
-6% recession, Northeast Ohio -6%
NEO ’07
-8% is performing more in -8% NEO ‘81
NEO ‘81
-10%
Q3 in ‘81 vs. Q4 in ‘81 vs. Q1 in ‘82 vs.
line ‘82 vs. the ‘82 vs. average. Q1 in ‘83 vs.
Q2 in
with Q3 in U.S. Q4 in ‘82 vs. -10%
Q3 in ‘81 vs. Q4 in ‘81 vs. Q1 in ‘82 vs. Q2 in ‘82 vs. Q3 in ‘82 vs. Q4 in ‘82 vs. Q1 in ‘83 vs.
Q4 in ’07 Q1 in ’08 Q2 in ’08 Q3 in ’08 Q4 in ’08 Q1 in ’09 Q2 in ’09 Q4 in ’07 Q1 in ’08 Q2 in ’08 Q3 in ’08 Q4 in ’08 Q1 in ’09 Q2 in ’09
U.S. in ‘81 NEO in ‘81 U.S. in ‘07 NEO in ‘07 U.S. in ‘81 NEO in ‘81 U.S. in ‘07 NEO in ‘07
Source : Economy.com
> From 1981 to 2007,
All data are for seven quarters of each respective GRP has increased by almost $65 billion
recession and does not project future performance.
ffef
www.clevelandplusbusiness.com
Pg. 5
February 2010 Members Newsletter

6. Broer to Join Leadership Team at
Montessori High School
Members and friends of the Fund for Our Economic Future are widely familiar
with the efforts of Weathertop Foundation’s Vikki Broer, who has been working as a
consultant to the collaboration’s staff over the last three years.
She has raised the bar in the area of member relations, feedback and fundraising.
Recently, a new opportunity to advance the goals of the region, namely in the area
of talent development, piqued Vikki’s interest. Over the next couple months, she will
transition into the position of dean of administration at the Montessori High School at
University Circle.
In breaking the news of her new opportunity, Vikki shared the following reflections:
The Fund for Our Economic Future is one of the keys to the revitalization
on Northeast Ohio. I am privileged to be part of this forward-thinking network of
philanthropists. While I will continue with the Fund in a volunteer capacity, I will
miss the supportive and collegial atmosphere of the Fund offices. The opportunity
to work with all of our members was an experience in the pursuit of excellence. The
vision and dedication of Fund members, Fund leadership and staff is overwhelming.
The Fund “walks the walk,” creating a regional network that encourages collaboration,
and creativity in solving the challenges of our region. In my new position, I will
continue the spread the message of Advance Northeast Ohio, working on what
matters across silos and across regional boundaries to ensure a bright future for
Northeast Ohio.
The Fund looks forward to working with Vikki in a volunteer capacity, and wishes
her the best in her new position. Brad Whitehead, president of the Fund, responded:
Vikki has been an extraordinary asset to the Fund over the last two years,
leading our strategy process, facilitating the design of our committee structure,
coordinating membership efforts and regularly reaching out to Fund members to
determine how they might best contribute to our collaboration – and she has been
a trusted counselor and friend to me as well. Vikki certainly represents philanthropy
at its finest and we are thrilled that she will still be a part of the Fund even as she
moves in new professional directions.
Funders Committee 2010 Calendar
The first Phase 3 meeting of the Funders Committee of the Fund for Our
Economic Future will be held on March 3 at the Intercontinental Hotel at the Cleveland
Clinic, 9801 Carnegie Ave. The meeting will be held from 9 a.m. to noon.
The dates for the other Funders Committee meetings in 2010 are:
• June 16 at the Davis Education & Visitor Center in Youngstown
2010 • September 1 (location to be determined)
• December 8 (location to be determined)
All Funders Committee meetings are from 9 a.m. to noon. If you have questions
or suggestions for a Funders Committee location, please contact Angela Maldonado
at 216-925-4900.
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