The Cleveland Foundation
"As an employer, we feel an ethical responsibility to provide financial security for our staff, who gives their best to the foundation and the community every day."
– Kathleen Stecky, director of human resources, The Cleveland Foundation
Company Facts
- Location: Cleveland, Ohio
- Type of business: The nation's first community foundation
- Number of employees: 73
- Founded: 1914
- Web site: www.clevelandfoundation.org
Benefit highlights
- 76% - 86% employer-paid medical and dental insurance premiums for employees and dependents
- 403(b) plan with a 9% non-matching contribution plus an additional 5.7% in employer contributions for earnings in excess of Social Security wage base; average employee deferral of 7% percent
- 457(b) plan
- 100% employer-paid premiums for short- and long-term disability insurance
Percent of employees participating in 403(b) plan: 67%
How they've continued to protect the financial security of employees in this economy: No plans to cut staff or salaries offering stability The Cleveland Foundation offers free financial counseling and stress management sessions. Its retirement plan vendor provides investment education about staying the course and taking a long-term approach to investing. The Foundation has reassured employees there are no imminent plans to cut staff or salaries. "Just being able to offer that stability is something our staff is genuinely grateful for," said Monica Brown, Human Resources manager, The Cleveland Foundation. "Their families are experiencing cuts in pay and benefits and we didn't want to contribute to that."
Other interesting facts:
- A ramped-up wellness program with an on-site wellness coach is helping to create a more health-focused culture
- Offers incentives to employees to stay healthy such as a free health premium for a month or gift cards to health food stores
- Offers a 35-hour work week and flexible work hours
Why Judges Selected The Cleveland Foundation
Watch a video of comments from 10 Best judge David L. Wray.
Read the transcript
"The Cleveland Foundation has an outstanding benefits program. Their company contribution to the retirement plan is especially impressive and the company obviously doesn't just say they care about their employees, they mean it as demonstrated by their wonderful wellness program."
— David L. Wray, 10 Best judge and president ofThe Profit Sharing/401kCouncil of America (PSCA)
