Charles P. Bolton Elected Chair of Cleveland Foundation Board

Board welcomes new member Beth Oldenburg Rankin

Release Date: 03.25.2011

The Cleveland Foundation’s board of directors has elected Charles P. Bolton as the 19th chair in the organization’s 97-year history. The board also announced that Beth Oldenburg Rankin will join the board. Both changes take effect April 1.

Bolton is a private investor. He is a member of the boards of the City Club Foundation, Cleveland Museum of Art, the Cleveland Orchestra’s Musical Arts Association, the Payne Fund, and the Kelvin and Eleanor Smith Foundation. He is an emeritus trustee of Case Western Reserve University and a life trustee of Hawken School after serving both institutions as chairman. Bolton has been a member of the Cleveland Foundation board since 2004.

“Charlie Bolton has been an ardent supporter of the foundation and its initiatives, both through his highly engaged work with the board and as an individual and philanthropist,” said Ronald B. Richard, president and CEO of the Cleveland Foundation. “Over the past seven years, he has led committees critical to the foundation, including our investment committee. His passion for Greater Cleveland, its residents, and its future is exemplary, and I look forward to continuing the wonderful working relationship we’ve developed through the years.”

Bolton succeeds David Goldberg, principal of Edgerton Investments, as board chair. Goldberg steps down from the chairmanship after three years. He will remain on the board until his 10-year term expires in March 2012.

“Under David’s chairmanship, the foundation embarked on some of its most ambitious initiatives, including the launch of Evergreen Cooperatives and the founding of several new schools in partnership with Cleveland Metropolitan School District,” Richard said. “David is a fearless innovator, and we were fortunate to have his passion, knowledge, and insight as chair these past three years.”

Rankin was appointed to a five-year term on the foundation’s board by the Probate Court of Cuyahoga County. She was past co-president and is current co-chair of the board for the Cleveland Play House, where her involvement includes annual and capital fundraising, facilities location review, strategic planning, and development of the agreement with Case Western Reserve University’s Master of Fine Arts program. She also serves on the executive committee of Town Hall of Cleveland and is a past member of the board of Hathaway Brown and St. Paul’s School for Boys in Baltimore.

“Beth brings a wealth of experience from her time at Cleveland Play House,” Richard said. “She has been hands-on with the Play House’s strategic planning and fundraising, in addition to her work as a civic volunteer and philanthropist with other organizations and causes. We are sure to benefit from her expertise and insight.”

The board also recognized the dedicated service of member Tana Carney, who is concluding her term after 10 years.

“Tana led our philanthropy and communications committee, and she has been a tireless champion in terms of fundraising and raising awareness of the foundation,” Richard said. “She was keenly interested and involved in every facet of the foundation’s work. We are extremely grateful for her service to the board.”

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Established in 1914, the Cleveland Foundation is the world’s first community foundation and the nation’s second largest today, with assets of $1.87 billion and 2010 grants of nearly $85 million. The foundation improves the lives of Greater Clevelanders by building community endowment, addressing needs through grantmaking, and providing leadership on vital issues. The foundation proactively directs two-thirds of its flexible grant dollars to the community’s greatest needs: economic transformation, public-school improvement, youth development, neighborhoods, and arts advancement.