Karakul to Retire From Role of Foundation President and Executive Director of Third Federal Foundation
Kurt Karakul, President and Executive Director of the Third Federal Foundation, will retire in June, transitioning to an advisory role until the end of 2021. He has spearheaded the Slavic Village P-16 program for 14 years, enhancing academic support in Cleveland. Chairman Marc A. Stefanski praised his community activism and leadership. The Foundation, established in 2007 with $50 million in stock and $5 million in cash, has funded various initiatives, including pandemic relief. Emily Thome will succeed Karakul as President and Executive Director, bringing 20 years of nonprofit experience.
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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
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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