Elyria, OH, March 4, 2014 - On Tuesday, Community Foundation of Lorain County President and CEO Brian Frederick was elected as chair of the Fund for Our Economic Future (the Fund) by its members. Frederick will serve a two-year term and assumes the role from Deborah D. Hoover, president and CEO of the Burton D. Morgan Foundation.
The Fund for Our Economic Future is a collaboration of funders, including private, community and corporate foundations, higher education institutions, health care systems, corporations, and individuals, dedicated to advancing economic growth and equitable access to opportunity for the people of Northeast Ohio through research, civic engagement, and grantmaking. Since its founding in 2004, the Fund has raised $100 million for improving regional economic competitiveness. The Fund's efforts have helped retain and create more than 16,500 jobs, generate nearly $650 million in payroll, and attract nearly $3.5 billion in capital to Northeast Ohio.
Involved with the Fund since its formation more than a decade ago, Mr. Frederick becomes the philanthropic collaboration's fourth chair. The Community Foundation is committed to building strong regional capacity that in turn supports economic development efforts for Lorain County. Serving as chair for the Fund is an important contribution to these efforts.
"The Community Foundation of Lorain County was a founding member of the Fund for Our Economic Future and I’m so honored to have been elected as Chair. We started the Fund to transform NE Ohio and we’re beginning to see that transformation happen, including here in Lorain County. But the work is far from over and there is much yet to do." Mr. Frederick said.
Mr. Frederick has served as a board member and governance chair of Team Lorain County, and as co-chair of the economic development committee for the Oberlin Project. He was also the founding board chair of Civic Commons. Mr. Frederick has received a number of accolades for his service to the community, including the 2013 Ohio Philanthropy Award from Philanthropy Ohio and the Eric Nord Award for Excellence in Leadership from Leadership Lorain County in 2014.
About the Community Foundation
Founded in 1980, the Community Foundation of Lorain County is made up of more than 560 endowed Funds valued at approximately $119 million dollars. Assets of the Funds are invested wisely and a percentage of those earnings provide $4.4 annually in grant support to non-profit organizations in Lorain County. For more information on the Community Foundation visit www.peoplewhocare.org.