Karakul to Retire From Role of Foundation President and Executive Director of Third Federal Foundation
May 12 2021 - 01:48PM
Business Wire
Has led the grantmaking arm of Third Federal
since inception in 2007
Third Federal Foundation President and Executive Director Kurt
Karakul will be retiring from his current role in June and
transitioning to an advisory role with the Foundation through the
end of 2021, focusing on special projects.
Working with the Cleveland Metropolitan School District, for the
last 14 years, Karakul was instrumental in the development of the
Slavic Village P-16 program to support children with critical
wrap-around services and programs to help them succeed in school
and in life. The collaborative effort has helped move the needle on
academics in the four Cleveland Metropolitan School District K-8
schools in Slavic Village.
“Kurt was my only choice for the first Executive Director of our
Foundation,” said Third Federal Chairman and CEO Marc A. Stefanski.
“He embraced the role and expanded our support beyond simply making
charitable donations. He is a tireless community activist, making
an impact through his leadership and support of a wide-range of
programs and projects that support the most vulnerable in our
communities. He will be missed in an everyday capacity, but I know
he will continue to be engaged with our Third Federal family and
the community at large.”
The Third Federal Foundation was formed in 2007 with $50 million
in stock and $5 million in cash as a result of the Initial Public
Offering of Third Federal stock. Karakul was the first director of
the Foundation, leading impactful initiatives in education, housing
and healthcare in the communities Third Federal serves, and most
directly, in Slavic Village, where the company was founded in 1938.
In 2020, the Foundation was one of the first funders of the Greater
Cleveland COVID-19 Rapid Response Fund, which supported non-profit
organizations and programs hit hard by the pandemic.
Prior to joining the Foundation, Karakul was a partner with the
law firm Weston Hurd, LLP, where he was also co-chair of the Real
Estate Law Section. For more than two decades, he has served as an
adjunct professor at The Case Western University Law School and
co-authored a real estate column in The Plain Dealer Saturday Real
Estate Section. Mr. Karakul is a graduate of Kenyon College and
Case Western Reserve School of Law.
Upon Karakul’s retirement, Third Federal Foundation Vice
President Emily Thome will assume the role of President and
Executive Director. Thome came to the Foundation in 2018 with 20
years of experience in the nonprofit sector, most recently serving
in senior development roles for the Cleveland Orchestra and the
Cleveland Clinic. Early in her career, she served in program
development and delivery roles as a health educator, managing
various grant programs in Cuyahoga, Lake and Geauga counties. Thome
holds a Bachelor of Science in Community Health from Ohio
University.
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Jennifer Rosa (216) 429-5037
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