Burton D. Morgan Foundation announces new strategic direction

Submitted by the Burton D. Morgan Foundation

The Burton D. Morgan Foundation said has it begun implementing a new strategic plan, which will govern operations and guide programming and grantmaking through 2026.

The foundation’s new mission statement is “Strengthening free enterprise by investing in people and entities that embody the entrepreneurial spirit.” Along with continued support for the education and growth of entrepreneurs, the foundation will become more intentional about prioritizing free enterprise programming and educating stakeholders and the community about its benefits.

Board Chairman Richard Seaman stated, “Our recently appointed President and CEO Dan Hampu prioritized the strategic planning process during his first year. He actively engaged Morgan staff and trustees to create a more focused strategic direction for our grant dollars that better reflects Burt Morgan’s belief in the free enterprise system and that will enhance the growth of second-stage businesses in Northeast Ohio. The board wants our grant dollars to make a real difference consistent with Burt’s vision.”

Morgan Foundation will also be more deliberate in its approach to supporting entrepreneurs. A greater emphasis will be placed on second stage businesses – entrepreneurial companies with revenues between $1 million and $50 million and a desire to grow. Morgan Foundation believes there is a scarcity in programming for this important subset of entrepreneurs, and it intends to fill that gap. 

The foundation is partnering with Edward Lowe Foundation to provide a suite of programs aimed at these businesses, following a successful pilot in 2023. These programs will complement the tremendously effective Scalerator NEO program, co-funded by Burton D. Morgan Foundation and the Fasenmyer Fund. 

President and CEO Dan Hampu commented, “We are excited about the new direction of the Foundation, which includes further alignment with Burt’s intent. We’ve been a part of building fields in the past and are excited to continue this work by strengthening the free enterprise system and entrepreneur education and support. Initial conversations and pilots in these areas have been catalysts to these new priorities.”

To view a summary of the foundation’s 2024-2026 Strategic Plan, visit
bdmorganfdn.org/strategic-plan. ∞