Humble Beginnings

2. A Prescription for Success: ‘Humble’ Pierstorf Brothers’ $22 Million Fund Still Supporting Students

3. Humble Beginnings • Ervin Pierstorf and Clarence Pierstorf, born in the 1910s on Cleveland’s west side • Their father ran a local pharmacy, in which the brothers helped as children and took over the management of after their father’s passing in his 40s. TOP: the “new” Pierstorf’s, located in Fairview Park BOTTOM: the original pharmacy in Cleveland’s West Park

4. Business Prosperity • Pharmacy • Fairview Photo Service – regional developer of Kodak film. The Pierstorfs had 200+ trucks that picked up film for development from establishments all over Cleveland, then returned the finished prints. • Savings and Loan PHOTOS: Fairview Photo Service’s then state-of-the-art photo processing equipment

5. Business Prosperity • When their mother required nursing care, the brothers constructed a new nursing home in Westlake. • Undoubtedly, she got the best room at Oakridge Home. PHOTO: Oakridge Home during construction.

6. Modest Wealth • Although the brothers’ businesses grew substantially and they became quite wealthy, they lived modestly. • They gave back to their beloved community an annual holiday party at the Fairview Theater and movie nights at Fairview High School stadium using a newfangled movie projector they purchased. TOP: A holiday card from Fairview Photo BOTTOM: The Pierstorf Brothers

7. The Fund’s Beginnings “Life is good, God is good, take what he gives you. You’ve got to help Him along once in a while. But if you get off the track, well, He’ll get you back on.” - ErvPierstorf • At the pharmacy, the brothers began lending money to their young employees for college tuition. • Upon Clarence’s passing in 1993, his $5 million estate was used to create the Pierstorf Memorial Fund, a scholarship that offers no-interest loans to Cleveland-area students from Lutheran churches.

8. The Fund’s Beginnings • The money seeds two loan funds, one for undergraduate no-interest loans for Lutheran students in the Cleveland area, and another offering no-interest, need-based loans to pharmacy students at Ohio Northern University, home of the Pierstorf Family Pharmacy Museum, which is housed in the Pierstorf Annex building. PHOTO: The Pierstorfs at Ohio Northern University.

9. The Fund’s Beginnings • Upon its founding, the loan program was targeted toward students who attended Messiah Lutheran Church, where the Pierstorfs worshipped. • Today, every active Lutheran student in 7 Northeast Ohio counties is eligible to apply. PHOTO: Messiah Lutheran Church in Fairview Park, where the Pierstorf Memorial Fund is managed.

10. The Fund’s Beginnings • ErvPierstorf lived to be 100 years old, passing in 2016. • His modest lifestyle was deceiving: when he passed, he left $17 million to the Fund. • Even after 25 years of loan distributions to deserving students, the Pierstorf Memorial Fund stands at $22 million, with an equal disbursement each year to both loan programs. “Nobody knew. He was very private about [his wealth]. He probably had one suit and the same car he drove forever.” - Karen Blackburn

11. How does it work? • Students apply for assistance, get an endorsement from their Lutheran church pastor, and are considered by the committee based at Messiah. • The loans come at no interest, up to $3,000 per year for four years, and must be paid off five years after graduation. PHOTO: Messiah Lutheran Church in Fairview Park, where the Pierstorf Memorial Fund is managed.

12. Loans, Not Handouts • ErvPierstorf ensured that loan recipients understood that it was just that – a loan. “Erv wanted them to know that by them paying it back, they would help the next in line. It’s not a handout. That’s why he didn’t want the loan to be too significant. If it was too large, they’d have trouble paying back. We wanted it to be enough. It’s the perfect amount for the students to take responsibility for their college.” - Karen Blackburn

13. Payback Rate “That’s the incredible thing. Everyone pays us back. Erv used to personally hand out the checks and he would tell the kids, ‘Respect your parents, do well in school, and pay us back!’” - Marty Uhle, current Director of the Pierstorf Memorial Fund • The payback rate is higher than other loan programs. • Currently, of the 600 active loans that the Fund is collecting on, only 7 are delinquent. • The loans don’t come with credit checks, GPA requirements, financial needs assessments, or other typical loan paperwork – just a recommendation from a pastor and a promise to pay the money back.

14. Success Story: Nathan Kelley • Chief Operating Officer of Spooner, Inc. • 1997 graduate of Kent State University • Pierstorf Loan Recipient

15. Success Story: Nathan Kelley “I certainly didn’t have a college fund to lean on, and my parents were not in a position to just be able to write a check for tuition. There was a lot of relief in being able to receive interest free loans and know that when you began paying off those loans after graduation – you would be paying for what was received. I didn’t achieve anything special in my high school years that would make me worthy of being granted a scholarship from the Pierstorf Memorial Fund. But their [the Pierstorf Brothers’] vision mirrors God’s grace in this world. Not the top ten in your class? Doesn’t matter – scholarship granted. Unclear about your future or what you want to end up doing in life? No problem – scholarship granted.” - Nathan Kelley

16. A Lasting Legacy • ErvPierstorf always hoped that scholarship recipients would learn not only the value of paying back, but also paying forward, saying to recipients in 2013, “All I ask is that you use it to the best of your ability and as you get through with your schooling, and if you can help somebody else, pass it on,” he told them in 2013. “Whatever things you can do to make life better for just one person.” PHOTO: A young ErvPierstorf

17. The Pierstorf Memorial Fund Marty Uhle, Director 21485 Lorain Road Fairview Park, OH 44126 440-665-3653 www.pierstorf.org