$30 million gift to Cleveland Clinic hopes to spark innovation
CLEVELAND, Ohio (WOIO) - On Thursday, the Cleveland Clinic announced it received a major gift hoping to spark innovation.
The $30 million gift from the Jack, Joseph and Morton Mandel Foundation means the exact title of the Clinic’s CEO will now be the Morton L. Mandel CEO chair.
The endowment also creates a fund from which the CEO can direct money to innovation projects.
“This gift gives a tool to the CEO of Cleveland Clinic to be able to spark innovation. We think that’s a big part of leadership,” said Stephen H. Hoffman, chairman of the board of the Jack, Joseph and Morton Mandel Foundation. “We’re giving the CEO the resources to put muscle behind his or her leadership in innovation, now and in the future.”
The Mandel family has been major supporters of the Clinic, establishing their foundation in their hometown of Cleveland in 1953.
Morton Mandel, who has watched the leadership of current CEO Dr. Tom Mihaljevic and former CEO Dr. Toby Cosgrove, passed away at the age of 98 in 2019.
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