New award added to Fast Track 50 event

Outstanding nonprofit organization to be honored along with top companies in region

The spotlight at the annual Lake-Geauga Fast Track 50 awards dinner and program will shine on one more winner starting this year.

In addition to paying tribute to the region’s fastest growing businesses and winners of two special business-related categories, the 2017 Lake-Geauga Fast Track 50 event on Nov. 2 also will honor an outstanding nonprofit organization.

The idea to create the Nonprofit Award was suggested after last year’s event by a Fast Track 50 company executive to Scott J. Marn, president of the Fast Track 50 Board of Trustees.

While the Fast Track 50 has traditionally focused on saluting business achievement, Marn said the board supported the proposal to annually recognize a topperforming nonprofit organization.

“We believe that nonprofit organizations and private employers both play vital roles in enhancing the quality of life in Lake and Geauga counties,” Marn said. “The Fast Track 50 Nonprofit Award will give nonprofit organizations an opportunity to show how they provide the highest levels of service to their clients while operating in a professional and effective manner.”

To be eligible for the Fast Track 50 Nonprofit Award, an organization must:

• Be a registered 501(c) and in good standing with the Ohio Secretary of State

• Serve Lake and/or Geauga county residents

• Be incorporated in 2013 or prior with a minimum annual operating budget of $250,000 in 2016.

Nonprofit organizations also must a demonstrate a dedication to their mission in Lake and/or Geauga counties by showing proof of:

• Creating meaningful and measurable benefits to the community

• Providing outstanding community services, innovation programming and/ or delivery of services.

The Nonprofit Award takes its place alongside these other prestigious Fast Track 50 awards:

•The Lake-Geauga Fast Track 50: Honors the region’s fastest growing companies in Lake and Geauga counties. Winners of the 2017 award will be based on a weighted average of 80 percent sales growth and 20 percent employment growth from 2012 through 2016. To be eligible for the award, companies must be located within the two-county region, be organized as a forprofit business, and must have a sales profit for 2012 of at least $250,000.

To more fairly compare larger and smaller companies, the Fast Track 50 is divided into Established and Emerging categories.

For 2017, Established Companies must report revenue of at least $2.75 million in 2012, the baseline year for all evaluations. Emerging companies are required to have 2012 sales of between $250,000 and $2.75 million. There are 25 companies on each list.

• Entrepreneur of the Year Award: Given to a business leader who demonstrates how their collective and unselfish executive leadership, creativity, team building and corporate vision resulted in business and employment growth.

• Game Changer Award: Bestowed upon an individual, new product, company or event that presents a positive reflection for or generates favorable publicity for Lake and/or Geauga counties.

The application to apply for all categories of 2017 Lake-Geauga Fast Track 50 awards can be downloaded on the event’s website: fasttrack50.org. Nomination deadline is June 30.

Questions also may be addressed to Maria Bennett of Lakeland Community College at 440-525-7538 or mbennett@lakelandcc.edu.

The Fast Track 50 is cosponsored by the Benjamin F. Edwards & Co. office in Mentor; Lakeland Community College; the Lake County Ohio Port and Economic Development Authority; Erie Bank; the Mentor Economic Assistance Corp.; The News-Herald; and Skoda Minotti CPAs, Business and Financial Advisors.