HBS-NEO Harvard Business School Club of Northeastern Ohio HBS-NEO

HBS Philanthropy Fund

The Harvard Business School Club of Northeastern Ohio Fund was started with funds from a conference hosted by the Club. Funds have been invested wisely and added to by several club members. The Fund's purpose is to provide financial support to organizations and individuals committed to fostering and improving business education in Northeast Ohio.

The fund provides honorariums annually for the Leadership, Dively Entrepreneurship, Elliott Economics teacher and Jones Excellence in School Management awards. The fund also provides seed funds that promote new ventures in business education. It is intended to provide start-up capital in support of good ideas and bridge funding gaps until permanent revenue streams are sufficient. The fund specifically encourages scalable ideas, where a wide and meaningful impact can be achieved by leveraging processes, people, intellectual capital, technology and financial resources.  The fund is managed by two committees of club officers, trustees and former officers. The Investment Committee manages the investments and the Philanthropy Committee manages disbursements from the fund.

The Fund grants approximately 5% of a rolling three year average Fund balance (currently ~$140,000 per year from invested funds of approximately $3,000,000). Individual grants typically range from $2,500 to $25,000. Recipients are asked to report back to the philanthropy committee comparing results to goals and commitments. The philanthropy committee meets monthly from September through May. Applications may be submitted at any time and will be considered as received.

Fund awards are made to programs that:

  • Promote business education in Northeastern Ohio and have the potential for long lived impact.
  • Require start-up funding versus long term support. The fund does not customarily make awards to the general revenue pool of an organization, regardless of its mission.
  • Provide a written summary of the recipients program, the sponsoring organization and other information requested on the application.
  • Are affiliated with well-run organizations that plan to sustain the program without long term support from the fund.
  • Will primarily use the award for direct mission (e.g., educational development or training) rather than indirect administrative activities.
  • Have the potential to reach and assist large numbers of people. These programs will receive special consideration.
  • Contain innovative elements such as greater teaching efficiency or new uses of technology, even if there is significant risk of failure.
  • Have HBS Club member involvement with the program or the affiliated organization.
  • Provide IRS determination letter and last Fiscal Year financial statement.

Organizations that received grants from the HBS Club Fund last year:

  • Cleveland Council on World Affairs
  • Cleveland Botanical Garden
  • College NOW
  • Greater Cleveland Volunteers
  • HBS Performance Management for Non-Profits and

HBS Strategic Perspectives in Non-Profit Management

  • Minds Matter of Cleveland
  • ECity / Youth Opportunities Unlimited
  • Breakthrough Schools
  • Saint Martin dePorres High School
  • Shaker Heights Entrepreneurship program
  • Entrepreneurs EDGE
  • Urban Squash