December 22, 2022 (Warren, Ohio) – The Raymond John Wean Foundation is hoping to spread a little extra cheer to their 2022 Community Investment grantees this holiday season.
The rising costs of materials, utilities and health insurance increases between 20%-40% and competitive staff compensation are just a few of the challenges shared by Foundation partners. While agreed that having more diversified and unrestricted funds can help, several expressed having to utilize discretionary funds more than usual during these times.
According to an article by Tony Bowen on Exponent Philanthropy’s website, “to meet rising costs, nonprofits face difficult choices. While they can work to raise more money, it takes time away from important programmatic priorities. Nonprofit leaders can try to cut costs, including eliminating staff cost-of-living adjustments. However, then they run the risk of not being able to carry out their critical missions.”
After thoughtful discussion during the December quarterly meeting, the Board of Directors approved the staff recommendation to address both the IRS requirement and the increasing inflation pressures of nonprofits by moving to distribute additional funds to each of their 2022 Community Investment grantees. An additional 10% will be added to each of the Foundation’s active Community Investment grants by year’s end.
“Ohio Transformation Fund (OTF) is grateful for the thoughtful approach The Raymond John Wean Foundation is taking to address the needs of the community in this time of rising costs,” says Elissa Schneider, interim executive director of OTF.
Committed to exploring new practices in philanthropy, this type of distribution is a first for the Wean Foundation.
Nearly $205,000 will be distributed among the following 11 organizations:
- Economic Action Group
- Greater Cleveland Neighborhood Centers
- Heart Reach Neighborhood Ministries
- Inspiring Minds
- Ohio Voice
- Organización Cívica y Cultural Hispana Americana (OCCHA)
- Policy Matters Ohio
- Trumbull Neighborhood Partnership
- United Returning Citizens
- Youngstown Neighborhood Development Corporation
- YSU Center for Nonprofit Leadership
About the Wean Foundation: The Raymond John Wean Foundation is dedicated to community-building in underresourced communities of Warren and Youngstown in Ohio’s Mahoning Valley. The Foundation leverages a dynamic combination of grantmaking, capacity building, convening and partnerships to provoke new thinking, strengthen communities and disrupt the status quo to achieve its vision: empowered residents creating an equitable Mahoning Valley. Visit weanfoundation.org to learn more.