By Mark Curnutte • mcurnutte@enquirer.com • March 24, 2009

 

The Greater Cincinnati Foundation has committed $1 million to help families affected by the recession and stabilize the financial footing of nonprofit organizations.

 

The announcement was made Monday by Kathy Merchant, president and CEO of the foundation at a meeting of social service providers at the Hamilton County Community Action Agency in Bond Hill.

In addition to its pledge, the Greater Cincinnati Foundation got $800,000 in additional funding for a new assistance pool from 14 sources - including the United Way of Greater Cincinnati, Procter & Gamble Fund of the Greater Cincinnati Foundation and PNC Bank. The fund is called the Weathering the Economic Storm Fund.

"Obviously, our community's needs are much greater than we can address with these funds, and so we (opened) it up to participation (by) the community," Merchant said.

United Way is committing $200,000 to the fund. It already has invested $7.1 million of contributions to its annual drive to agencies that provide emergency help families in need.

"The partnership is another way for us to provide additional support," Carrie Hayden, chair of the United Way board, said.

In late February, The Enquirer reported that the Greater Cincinnati Foundation pledged to maintain its funding level, more than $40 million in 2008, to nonprofit organizations for the next three years. Merchant made that commitment at the Ohio grant-makers forum in February.

The Greater Cincinnati Foundation manages the charitable activities of hundreds of individuals and dozens of companies throughout the region and distributes grants to nonprofit education, social service, arts, faith-based and other groups.

The other 11 groups contributing to the new funding source are the Butler Foundation, Christ Church Cathedral, Carol Ann and Ralph V. Haile/U.S. Bank Foundation, Health Foundation of Greater Cincinnati, Andrew Jergens Foundation, Macy's, Mayerson Foundation, William Cooper Procter Fund, Scripps Howard Foundation, Women's Fund of the Greater Cincinnati Foundation and Craig Young Family Foundation.

For more information: greatercincinnatifdn.org.