The Business Of Good Foundation

Quick Stats

• Annual Giving: Not publicly disclosed
• Success Rate: N/A (invitation-only)
• Decision Time: N/A (invitation-only)
• Grant Range: Not publicly disclosed
• Geographic Focus: Northeast Ohio, particularly Ashtabula area

Contact Details

Website: www.thebusinessofgood.org
Address: P.O. Box 2838, Ashtabula, OH 44005
Phone: Not publicly listed
Email: Not publicly listed

Overview

The Business of Good Foundation (EIN: 34-1973248) is a private grantmaking foundation established in 1997 by Tim and Alice McCarthy, originally operating as Free Hand, Inc. before changing its name in 2009. Based in Ashtabula, Ohio, the foundation has invested over $10 million plus thousands of volunteer hours since its founding. The foundation operates with a distinctive mission to "serve those who serve the poor" through hands-on capacity building efforts. It advances equality of opportunity through education and entrepreneurship, focusing on building self-esteem and personal empowerment among economically and socially disadvantaged populations. The foundation works exclusively through long-term partnerships with pre-selected program partners rather than accepting unsolicited grant proposals.

Funding Priorities

Grant Programs

The foundation directs all grantmaking to pre-selected program partners:

• America Mentors: Online mentoring services for first-generation college students
• New Entrepreneurs Opportunity Fund (NEO Fund): Education, mentoring, and coaching for small business development
• Ashtabula Capital Access Program (ACAP): Business financing assistance for northeast Ohio entrepreneurs
• SEA Change: Social enterprise accelerator based in Columbus, Ohio

Priority Areas

• Education access and persistence for first-generation college students
• Entrepreneurship and small business development
• Social enterprise development
• Capacity building for organizations serving economically disadvantaged populations

What They Don't Fund

• Organizations outside their pre-selected program partner network
• One-time grants or short-term projects
• Unsolicited proposals from new organizations

Governance and Leadership

Founders: Tim and Alice McCarthy (established 1997)

The foundation maintains a low public profile regarding its current board composition and leadership structure. Detailed governance information is available in their Form 990-PF filings with the IRS.

Application Process & Timeline

How to Apply

This funder does not have a public application process. All grantmaking is directed to pre-selected program partners. The foundation explicitly states that it does NOT accept unsolicited grant proposals. Organizations cannot apply for funding through traditional grant application methods.

Getting on Their Radar

The foundation identifies partners through existing relationships within the northeast Ohio nonprofit community, particularly those working in education and entrepreneurship for economically disadvantaged populations. They appear to value long-term partnerships with organizations that demonstrate capacity for hands-on service delivery and measurable impact in their core focus areas.

Decision Timeline

Not applicable - invitation-only basis

Success Rates

Not applicable - the foundation works exclusively with pre-selected partners

Reapplication Policy

Not applicable - no public application process

Application Success Factors

Since the foundation operates on an invitation-only basis, traditional application success factors do not apply. However, organizations that align with their mission should note:

• The foundation values long-term partnerships over one-time grants
• They seek organizations that directly serve economically disadvantaged populations
• Focus areas must align with education access, employment, or entrepreneurship
• Geographic proximity to northeast Ohio, particularly Ashtabula, appears advantageous
• They emphasize capacity building and hands-on support rather than just financial contributions

Key Takeaways for Grant Writers

• This foundation does NOT accept unsolicited grant proposals - relationship building is essential
• Focus exclusively on education and entrepreneurship for economically disadvantaged populations
• Operates through long-term partnerships rather than traditional grant cycles
• Based in and primarily serves northeast Ohio, especially Ashtabula area
• Values hands-on capacity building alongside financial support
• Has invested over $10 million since 1997, demonstrating significant giving capacity
• Organizations seeking support must align with existing program partner framework

References

• ProPublica Nonprofit Explorer - https://projects.propublica.org/nonprofits/organizations/341973248 (Accessed February 26, 2026)
• Cause IQ - https://www.causeiq.com/organizations/the-business-of-good-foundation,341973248/ (Accessed February 26, 2026)
• Candid Foundation Directory - https://fconline.foundationcenter.org/fdo-grantmaker-profile/?key=FREE130 (Accessed February 26, 2026)
• The Business of Good Foundation Official Website - https://thebusinessofgoodfoundation.org/ (Accessed February 26, 2026)
• Grantmakers.io - https://www.grantmakers.io/profiles/v0/341973248-the-business-of-good-foundation/ (Accessed February 26, 2026)
• Charity Navigator - https://www.charitynavigator.org/ein/341973248 (Accessed February 26, 2026)
• GuideStar - https://www.guidestar.org/profile/34-1973248 (Accessed February 26, 2026)