OneOhio Recovery Foundation makes important progress toward initial distribution of funds
In its April 12 meeting, held at the Ohio Chamber of Commerce, the OneOhio Recovery Foundation Board of Directors made its most important progress to-date toward distributing funds to the public when Board Chair Larry Kidd announced that the Foundation has received more than $58 million in the past month from three of the opioid settlements from pharmaceutical industry interests.
“This meeting marks the end of a very productive first year for the OneOhio Recovery Foundation, a year marked by the hard work of Board members and staff to build a solid footing for the task ahead,” said Kidd. “With the first settlement fund payments just received in late March, the Foundation Board is finalizing the critical processes necessary to distribute those resources across the state in support of efforts to fight opioid addiction and abuse at the grassroots level.”
At their April meeting, Board members:
• Welcomed two new Board members. Robert Radcliffe was appointed by Governor Mike DeWine, replacing John Tharp. Scott Sylak was appointed by Region 4, replacing Mike Beazley.
• Received an update from Chairman Kidd on the Foundation’s first payments received from three of the opioid settlements:
— $3,667,677 from the Mallinckrodt bankruptcy (NOAT II) on March 28.
— $34,648,406 from the Distributor settlement (Years 1-2) on March 31.
— $20,045,814 from the Janssen settlement (Years 1-2) on March 31.
• Approved Foundation allocations of settlement payments received in late March 2023 (Mallinckrodt payment, Distributor settlement Year 1 and 2 payments, and Janssen settlement Year 1 and 2 payments only):
— $51,194,220 will be allocated for grants to support Region projects.
— $3,667,677 will be invested for future use.
— An amount not to exceed $3,500,000 will be allocated for operations.
• Approved the Foundation’s Grant Making Policy, setting forth the composition, roles and responsibilities of the Grant Oversight Committee and establishing the eligibility and submission requirements governing grant proposals.
• Approved the Foundation’s Investment Policy, with agreement that the policy would be revisited at the May 2023 Board meeting.
• Reviewed the Foundation’s Fiscal Policy, with agreement that the policy would be revisited at the May 2023 Board meeting.
• Heard an update from staff on grant software options under review by the Foundation, with agreement to revisit grant software options at the May 2023 Board meeting.
• Received training from attorney Mike Garcar regarding a non-profit board member’s role and legal duties, limitations of a private foundation and best board practices.
This was the 29-member board’s 11th public meeting since its formation in May 2022, continuing work to establish fundamental policies to guide the Foundation’s mandate to distribute opioid settlement funds across the state.
The board’s next public meeting will be held Wednesday, May 10 at 10:30 a.m., at offices of the Ohio Chamber of Commerce, 34 S. 3rd Street, Columbus.
Members of the public may access video of all board meetings and related board documents at OneOhioFoundation.com/Meetings.
About the OneOhio Recovery Foundation: The OneOhio Recovery Foundation is a private, nonprofit foundation created under the leadership of Governor Mike DeWine and Attorney General Dave Yost, and other state and local leaders, with the mission advancing Ohio’s addiction prevention, treatment, and recovery efforts now and into the future.
The Foundation is governed by a 29-member board from across Ohio and is funded by 55 percent of settlement funds that Ohio is receiving from the pharmaceutical industry as a consequence of its role in the national opioid epidemic. Funds support local efforts to prevent and combat addiction and are also invested to support those efforts for the long term. Visit OneOhioFoundation.com for more information.