Our Story
Affecting Global Change, Locally
A Vision for Opportunity:
The Founding of the Ratcliffe Foundation
Phil and Carole Ratcliffe established the foundation in 2003 with a vision to expand access to education and training for aspiring entrepreneurs and small business owners—empowering them to grow their ventures, create jobs, and strengthen economic opportunities in local communities.
Their first grant, awarded to Anne Arundel Community College (AACC) in August 2003, was a ten-year, one-million-dollar pledge—the largest individual donation in the college’s history at the time. The grant funded scholarships for students across a wide range of majors, all united by a shared goal: to one day own a business. Today, the program continues, supporting around fifty students each year as they study entrepreneurship and business management.
Honoring the Legacy of Phil and Carole Ratcliffe
During the early years, Phil would frequently visit with students to learn about their business ventures and to share his expertise. He was smart, hardworking, kind, generous, thoughtful, and witty. He had fun getting to know the students, and they thoroughly enjoyed spending time learning from him.
Carole was engaged in the work of the foundation from the beginning. After Phil passed, she became more visible and active. Like Phil, she was generous with her time and knowledge and enjoyed everything from participating in class projects to visiting student business owners working in incubator space on various college campuses. She also opened her home and hosted picnics for students and faculty from many of the programs supported by the foundation.
AACC would be the first of many programs the foundation would come to support including colleges and universities in Delaware, Florida, Maryland, North Carolina, Ohio, and Virginia.
Inspiring the Next Generation of Changemakers
Phil and Carole were passionate about supporting people in all walks of life ranging from artists to watermen. Their entrepreneurial background guided the framework and culture at the foundation. The foundation leaders remain interested in learning about new and innovative programs leading to business success, small business ownership, and entrepreneurship.
The Ratcliffe’s legacy and positive impact will live on through the many individuals who have achieved their goals and dreams with support from programs funded by their foundation.
Carole and Phil were the epitome of a servant leaders – they brought out the best in others. They were kind, curious, and incredibly supportive. They will be remembered as incredible philanthropists, businesspeople, and champions for entrepreneurs. We hope that you are inspired by their wisdom and generosity to work hard, have fun, give back and make the World a better place.
