The First 25 Years – 1914-1939 – The Cleveland Foundation – A Community Trust

The First 2S Years1914 • H H 1939

The Cleveland FoundationA Community Trust

The First 25 Years1914 H H H H H 1939

The Cleveland FoundationA Community Trust

638 TERMINAL TOWER BUILDING

THE. CLEVELAND FOUNDATION

Distribution CommitteeMALCOLM L. McBRIDE, Chairman

LEONARD P. AYRES

CARL W. BRAND

MRS. F. H. GOFF

FRED S. MCCONNELL

JAMES R. GARFIELD, CounselLEYTON E. CARTER, Director

Trustees' CommitteeHARRIS CREECH, Chairman

SIDNEY B. CONGDON

BENEDICT CROWELL

Trustee BanksCENTRAL NATIONAL BANK

THE CLEVELAND TRUST COMPANY

THE NATIONAL CITY BANK

THE CLEVELAND FOUNDATION, establishedtwenty-five years ago, outlines in this anni-

versary booklet some of the achievemen ts whichwere made possi ble by the generous gifts of themany donors whose bequests are listed.

To us it seems that the facts about the growthof the Foundation are eloquent; hence this book-let is mainly a record of facts.

We believe that the plan of the Foundationoffers the best method yet devised to meet theneeds of a changing world.

We hope this brief review will be of interest toall who read it.

The Distribution CommitteeMALCOLML. McBRIDE,

Chairman.LEONARDP. AYRESCARLW. BRANDMRS. F. H. GOFFFRED S. MCCONNELL

4 The Cleveland Foundation

TIME will be required to determinethe value and usefulness of commun-

ity trusts. I am hopeful they will be foundhelpful in avoiding the evil effects of the"Dead Hand" and in stimulating andsafeguarding gifts to charity.

From address of the lateF. H. Goff, founder of TheCleveland Foundation, de-livered September 30, 1919.

There is now available the record of 25years with which to judge the "value andusefulness of community trusts."

Twenty-fifth Anniversary

On January 2, I9I4, The ClevelandFoundation was established by action ofthe Board of Directors of The ClevelandTrust Company. It was a pioneer under-taking conceived by the late FrederickHarris Goff, a great citizen of Cleveland.

It is a community foundation, or com-munity trust, set up for the continuingbenefit of this city and its people. Its pur-poses are charitable and educational inthe broadest sense.

I t is organized to function upon a per-manent basis because charitable trustsare deemed to be established in per-petuity.

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SOME BASIC QUESTIONS

How assure that gifts made upon apermanent basis for specific philanthropicpurposes will not outlive their usefulness?

How assure that funds will be so ad-ministered as to respond intelligently andreasonably to changing conditions of com-munity need?

These are basic questions which pros-pective donors should consider. TheCleveland Foundation offers an answer tothese questions.


THE FOUNDATION'S FUNDS

The Foundation's funds are not thegifts of a single individual or family as isthe case with certain foundations. In-stead, The Cleveland Foundation pro-vides for the union of gifts from anynumber of donors through which its broadand beneficial purposes may be carriedout.

The present endowmen t totaling over$6,000,000, represen ts large, small, andmedium-sized gifts* left at different timesby various donors, generous-mindedciti-zens who have recognized the merits ofthe community foundation plan.

*At present certain trusts are subject to life uses sothat the entire income from such trusts is not availablefor the benefit of the Foundation.

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SAFEGUARDING ANDINVESTING OF FUNDS

The Foundation's funds are placed inthe custody of Cleveland financial insti-tutions which are trustees of the Founda-tion. They are charged with the duty ofsafeguarding and investing the funds en-trusted to them, making available theincome and, under certain condi tions theprincipal, for the purposes of the Founda-tion.

The trustees for the Foundation arenow the

Central National BankThe Cleveland Trust Company

The National City Bank

Each of these institutions is administer-ing funds for The Cleveland Foundation.


USE OF INCOME

The income from the Foundation'sfunds is disbursed for charitable and edu-cational purposes by a Distribution Com-mittee of five citizens. The term of officeis five years, one term expiring each year.Members may be reappointed.

Two members are appointed by thetrustee institutions and three by publicofficials; one each by the presiding judgeof the United States District Court forthe Northern District of Ohio, EasternDivision; the Judge of the Probate Courtof Cuyahoga County; the Chief Executiveof the Ci ty of Cleveland.

Members of the Committee are "select-ed for their knowledge of the educationalor charitable needs of the community."They serve without compensation.

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DONORS MAY DESIGNATE

Any donor to the Foundation maydesignate his preferred charity and hiswishes will be observed by the Distribu-tion Commi ttee un til changing condi tionsmake such purpose unnecessary, undesir-able, impractical, or impossible. In suchcase, by proper action of the Foundation,the funds can thereafter be used for suchother charitable purposes as will, pre-sumably, more effectually promote thepublic welfare.

Various donors to the Foundation haveexercised this right of designation. Butrecognizing that change is inevitable theydid not wish their gifts tied irrevocablyto a particular institution or particularpurpose.

Who can know accurately what thefuture needs of the community will be?The question answers itself.


UPON WHOMSHALL WE DEPEND?

In a legal sense The Cleveland Founda-tion is established in perpetuity.

But during that long tenure, the Foun-dation's benefactions will be administeredby living people — citizens of this com-munity. By the nature of the plan theycannot serve their own interest, since nomaterial benefits can accrue to them fromthis service. They can only serve, as bestthey can, the charitable and educationalneeds which they see and understand.

Who can do more?

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EARLY YEARS

During its earliest years the Founda-tion did not have income-producing en-dowments. Accumulation of endowmenttakes time.

Nevertheless the Foundation was ac-tive from the very beginning. A series ofimportant and useful community surveyswere undertaken. These were initiatedby a group known as the Survey Commit-tee of The Cleveland Foundation whichplanned and conducted certain surveysand secured the necessary contributionsof money to meet the costs involved.

This Committee, appointed in Febru-ary, I9I4, was composed of Charles E.Adams, chairman; Thomas G. Fitz-simons, Myrta Jones Cannon, Bascom Lit-tle, Victor W. Sincere; A. D. Baldwin, sec-retary. It served until 1917. Under its su-pervision the comprehensive ClevelandSchool Survey (The Education Survey)and the Survey of Cleveland's ReliefAgencies were completed. The schoolsurvey has had a notable influence uponpublic school education.


EARLY YEARS

The fir s t F 0 u n d a t ion Commi tteeknown as such was appointed in thespring of 1917 and was made up of Dr.J. D. Williamson, chairman; Thomas G.Fitzsimons, Malcolm L. McBride, BelleSherwin and Ambrose Swasey.

The Committee continued for sometime the policy of conducting importantand needful community surveys. Notablewere the Cleveland Recreation Surveyand the Survey of Criminal Justice. Thislatter survey, particularly, received inter-national notice and prompted, amongother things, the execution of similarmonumental studies in other cities andstates. From 1914 to 1919 Allen T. Burnsserved as director of survey activities.

By 1919 income from endowment fundswas available to the Foundation and itbegan its permanent and major task, theadministration of income for charitableand educational purposes for the benefitof this community.

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The Cleveland Foundation

THE MULTIPLE TRUSTEESHIP

An Important Development

Since 1930 additional local trust com-panies, acting individually, have become,with The Cleveland Trust Company,trustees for the Foundation.

This has been accomplished by theadoption, on the part of each participat-ing institution, of a Resolution and Dec-laration of Trust creating the ClevelandFoundation.

The resolution of the Board of Direc-tors of The Cleveland Trust Companyof January 2, 1914, originally establishingthe Foundation necessarily remains in fullforce and effect. All new trusts for theFoundation are, however, executed underthe resolution of later date.

Twenty-fifth Anniversary 15

SPREAD OF THECOMMUNITY FOUNDATION PLAN

The Cleveland Foundation, pioneercommunity trust, has been widely copied.More than 75 community foundationshave been established and modeled essen-tially upon the plan established here onJanuary 2, 1914.

Examination of files of The ClevelandFoundation will reveal that scarcely amonth passes during which inquiries arenot received from communities in this andother countries about the operation of theFoundation and how a similar plan maybe instituted.


THE TANGIBLE EVIDENCEOF SERVICE

The Cleveland Foundation has dis-bursed over $2,202,000 for charitable andeducational purposes for the benefit ofthis community. These benefactions havebeen possible because of the gifts ofdonors who have endowed the Founda-tion as a permanent institution for theadministration of gifts dedicated to thewelfare of this city and its inhabitants.

There follows a condensed statement ofdisbursements classified by major pur-poses from the inception of the Founda-tion to January I, 1939.


Disbursements of Cleveland Foundationfor Charitable and Educational Purposes

PurposeCHILD WELFARE

Sick, crippled and dis-abled .

Health, recreation andcharacter building .

Institutional and fosterhome care

()ther

EDUCATION

Scholarships and stu-dent aid

Institutional aidOther

RESEARCH

MedicalEducational

AID TO HOSPITALS

AID TO THE AGED.

UNCLASSIFIED

(For various charitablepurposes)

Grand Total

Amount

$ 53,135.28

156,853.48

512,032.1 I

37,959·94$ 759,980.8 I

$ 143,442.67298,005.6817,695·53

459,143.88

$ 44,410.00161,756.65

206,166.65726,086.47

5,807.65


A List ofInstitutions and Purposes

Now Being Aided by the Foundation

Note — Many of these purposes and institutionsare now being benefited by virtue of designationsmade by donors, which designations the Distribu-tion Committee deem appropriate, desirable and

practical.

Association for the Crippled and DisabledAssociated CharitiesBabies' and Children's HospitalBellevue Hospital, Bellevue, OhioBoard of Education Nursery SchoolsBoy Scouts of America, Greater Cleveland CouncilCase School of Applied ScienceChild Health Association of ClevelandCitizens Civil Service CommitteeCity HospitalCleveland Children's BureauCleveland Council of Campfire GirlsCleveland Girl Scout CouncilCleveland Humane SocietyCleveland Museum of ArtCleveland Protestant Orphan AsylumCleveland School of ArtCommunity Fund of ClevelandDivision of Recreation, City of Cleveland


Dorcas Invalids' HomeGoodrich Social SettlementHiram HouseLakeside Hospi talMaternal Health AssociationMaternity HospitalMayor's Advisory Board on Playgrounds and RecreationNeighborhood AssociationPlaygroundsRainbow HospitalSalvation Army (Mary B. Talbert Home and Hospital)South Side Improvement ClubStudent AidWelfare Federation of ClevelandWestern Reserve UniversityWickliffe Dispensary, Wickliffe, OhioWomen's City Club Lecture FundYoung Women's Christian Association


It is Believedthat ...

Thoughtful people, whenthey examine The Cleve-land Foundation plan, willfind it

Wisely conceived

Simple in operation

Serviceable to donors andto the community.


The Distribution Committee of TheCleveland Foundation Invites —

Prospective donors to any charitable oreducational purpose or institution ofbenefit to Cleveland or any community inOhio to investigate the

CLEVELAND FOUNDATIONPLAN

and its operation.

The Committee believes that, despitea changing world, the philan thropic mo-tive in the hearts of men will long endure.

The Cleveland Foundation exists toserve that motive faithfully for the last-ing benefit of this community or othersin the State of Ohio.

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PERSONNEL

Committee Members — Past andPresent

LEONARD P. AYRES, 1922-CARL W. BRAND, 1926-

H. G. DALTON, 1931 - 1939THOMAS G. FITZSIMONS, I917 - 1925

MRS. F. H. GOFF, 1926-

THOMAS L. JOHNSON, 1925 - 1926MALCOLM L. McBRIDE, 1917-

FRED S. MCCONNELL, 1939-W. H. PRESCOTT, 1919 - I93IBELLE SHERWIN, 1917 - 1926

AMBROSE SWASEY, 1917 - 1919DR. J. D. WILLIAMSON, 1917 - 1922

Since 1919 the Foundation Committeehas maintained office quarters for theFoundation and has employed a full-timedirector who also acts as secretary of theCommittee.

Term of Service of DirectorsDR. RAYMOND MOLEY, 1919 - 1923CARLTON K. MATSON, 1924 - 1928LEYTON E. CARTER, 1928 -


Suggested Forms for Gifts to

THE CLEVELAND FOUNDATIONBy Will or Trust Agreement

The following suggestions are made to accom-plish the incorporation of the Resolution, intothe Will or Trust Agreement avoiding thenecessity of copying the full text of the Resolu-tion into the document. The attorney draftingthe Will or Trust Instrument should use aptwords to meet the conditions of each particulargift.

If the Will or Trust Agreemen t provides for animmediate bequest or gift to The ClevelandFoundation not dependent on any prior trusts,the insertion of the following will provide forsuch gift and incorporate the Foundation planwithout the necessity of setting forth the resolu-tion at length:

"I give and bequeath the sum of to(Name of Bank or Trust Company) , to be managed,controlled, administered, and disbursed in all respects for thecharitable uses and purposes set forth in a Resolution adoptedby the Board of Directors of (Name of Bank or TrustCompany) on the day of ,providing for a community charitable trust, designated in saidResolution as The Cleveland Foundation, said Resolution beingset forth at length in the minutes of the meeting of the saidBoard of Directors on the date aforesaid as written in thecorporate records on page , volume of said

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records, which resolution and records are actually in existence atthe time this will is executed, and are incorporated herein asfully and with like effect as if herein written at length."

A like provision may be used in a living trustagreement with appropriate language for thepresen t gift of money or property in lieu of thewords "I give and bequeath" in the abovelegacy form.

If the Will or Trust Agreement provides forpayment of income to family and relatives dur-ing life, or other precedent trusts, the followingform is suggested:

"Upon the termination of the trusts hereinbefore expressedI direct that the entire net income derived from the trust estate,with its accumulations as aforesaid, shall be expended or appro-priated each year, perpetually, until the principal may havebeen disbursed, for the charitable uses and purposes set forth in aResolution adopted by the Board of Directors of (Nameof Bank or Trust Company) on the day of

, providing for a community charitabletrust, designated in said Resolution as The Cleveland Founda-tion, and to that end I direct that the trust estate, both principaland income shall, at the termination of the aforesaid trusts, vestin (Name of Bank or Trust Company) and bemanaged, controlled, administered and disbursed in all respectsas provided in said Resolution, which is set forth at length in theminutes of the meeting of said Board of Directors on the dateaforesaid as written in the corporate records on page ,volume of said records, which resolution and recordsare actually in existence at the time this will or trust agreementis executed, and are incorporated herein as fully and with likeeffect as if herein written at length."

If in the Will or Trust Agreement it is desiredto express a preference as to a particular chari-

"It is my desire that the foregoing gift be known as the. . . . . . . . MEMORIAL FUND."


table institution or institutions, or as to the kindof charitable endeavor to be favored, languageto the following effect may be added:

"Pursuant to the right reserved to the contributors to saidFoundation, I hereby express my desire that the income and/orprincipal herein bequeathed (or given) for the charitable purposesof said Cleveland Foundation, be distributed, subject to theterms and provisions of said Resolution, to the following chari-table institutions: (or for the following charitable purposes:)"

If it is desired that the gift to The ClevelandFoundation, bear a name as a memorial, thefollowing language may be used:

The Resolution creating The Cleveland Foun-dation under the Multiple Trusteeship Plan wasadopted by the several trustee institutions co-operating in said plan on the following dates:Central National Bank, December 24,1930

Minutes volume for 1929 and 1930The Cleveland Trust Company, January 5,1931

Volume 2/135 Board of Directors, pages 194-215 incl.The National City Bank, June II, 1934

Minutes June II, 1934, pages 1-16 incl.


SUMMARY STATEMENT OF FUNDS

The present funds of the Foundationare made up of gifts of generous donorswho, in most instances, were residents ofCleveland or vicini ty.

In recognition of these notable giftsthere follow brief statements concerningthem. It is to be noted that new trustshave become effective nearly every yearduring the past two decades, indicatingthe steady growth of the Foundation'sendowmen t funds.

The figures given for the principalvalues of these trusts are book valuesfurnished under recent dates by the cor-porate trustees for these funds.

The funds are listed alphabetically ac-cording to ti tie.

Twenty-fifth Ann iversary

Julia Alida Beebe Fund — $47,837This fund was created by a testamentary trust of the residuaryestate under the will of the late Julia A. Beebe. The donor desig-nated that, subject to certain life uses, one-half of the net incomefrom the trust fund be made available to The Cleveland Protest-ant Orphan Asylum and the remaining half for The Animal Pro-tective League and The Humane Society in equal parts to each.Income first received in 1924. Trustee, The Cleveland TrustCompany.

Gertrude H. Britton - Katharine H. PerkinsFund — $23,629

This fund was created by an irrevocable living trust, the donorsexpressing the desire that income be made available to the

Dr. Hamilton Fisk Biggar Fund — $100,812Established by gift in trust under agreement executed by the lateDr. Hamilton Fisk Biggar. The donor provided that preferencein the use of three-fourths of the net income be for one or moreof three purposes —"the advancement of medical science,assistance of young men or women in procuring a medical educa-tion, or the relief from time to time of hospitals or similar insti-tutions." Income first received, 1927. Trustee, The ClevelandTrust Company.

George H. Boyd Fund — $1,465,983The late George H. Boyd, of Sharon, Pennsylvania, made hisresiduary estate available for the charitable uses and purposes ofthe Foundation. He provided that, subject to certain life uses,one-fourth of the net income from the fund might be used forassisting worthy and deserving young men and women in obtain-ing an education at Western Reserve University or elsewhere,the remainder of the income being designated for Western Re-serve University as may be determined by the FoundationCommittee and officersof the University. Income first received,1927. Trustee, The Cleveland Trust Company.


Maternal Health Association of Cleveland. Income first received,1937. Trustee, The National City Bank.

Caroline E. Coit Fund — $30,032By testamentary trust the residuary estate of the late CarolineE. Coit became available for the charitable uses and purposes ofthe Foundation. The donor expressed the desire that the netincome be distributed two-fifths thereof to the Art Museum ofCleveland; two-fifths to the Welfare Federation of Cleveland;one-fifth to the Cleveland School of Art for scholarships; so longas such institutions continue in existence and are efficientlymanaged. Income first received, 1937. Trustee, The ClevelandTrust Company.

Harry Coulby Fund — $3,065,610By testamentary trust the late Harry Coulby made his residuaryestate available for the charitable purposes of the Foundation.Exercising his right of designation the donor provided that one-half of the net income be made available to Lakeside Hospitalfor its support and maintenance and one-half for the benefit ofsick, crippled or needy children. Income first received, 1931.Trustee, The Cleveland Trust Company.

Jacob D. Cox Fund — $101,319By trust agreement the late Jacob D. Cox established this fund,the income therefrom to be used as prescribed for the benefit offull professors in Case School of Applied Science so long as theschool retains its separate identity. Income first received, 1930.Trustee, The Cleveland Trust Company .

. "The George Freeman Charity Fund" —$49,891

The will of the late Emma D. Freeman provided for the estab-lishment of a trust fund to be known as "The George FreemanCharity Fund" in memory of her husband. The Foundationbecame ultimate beneficiary of the fund. The income is used for


the benefit of poor children of the City of Cleveland. Incomefirst received by Foundation, 1930. Trustee, The ClevelandTrust Company.

Frederic H. Gates Fund — $276,805Established by testamentary trust of the residuary estate underthe will of the late Frederic H. Gates. By agreement after hisdeath certain annuities were set up for various persons. Mr.Gates expressed the preference that part or all of the incomeavailable to the Foundation might be devoted to the WilliamN. Gates Memorial Hospital for Sick and Crippled Children atElyria, Ohio. Income first received, 1929. Trustee, The Cleve-land Trust Company.

"Frederick Harris Goff Fund" — $49,712This fund has been established by a living trust agreement as amemorial to the late Frederick Harris Goff, the donors wishingto remain anonymous. It was provided by them that incomefrom the fund is to be used to aid in the "education or specialtraining of young people of either sex who have adequate basicpreparation, preferably secondary school education or itsequivalent, and who shall have given sufficient evidence of beingspecially gifted or of having unusual ability, and of being soqualified by character and situation in life as to entitle them tosuch education or training." Income first received, 1926. Trustee,The Cleveland Trust Company.

"The A. W. Hurlbut Fund"— $47,667By trust agreement executed by the late Frances A. Gorhamthis fund was established as a memorial to the donor's father,and to be known as "The A. W. Hurlbut Fund." Trustee, TheCleveland Trust Company.

"The Kate Hanna Harvey MemorialFund"— $40,341

This fund was created by an irrevocable living trust agreementby gifts of Elisabeth Ireland, R. Livingston Ireland, Jr., and


Margaret Ireland, the fund to be known as "The Kate HannaHarvey Memorial Fund." The donors expressed the desire thatthe income from the trust be made available to the ClevelandCommunity Fund and the Maternal Health Association on acertain prescribed basis. Income first received, 1937. Trustee,The National City Bank.

The Melville H. Haskell, Mary H. Hunter,Gertrude H. Britton and Katharine H.

Perkins Fund — $66,383This fund was created by an irrevocable living trust, the donorsexpressing the desire that income be divided upon a certain pre-scribed basis between the Cleveland Community Fund and theMaternity Hospital of Cleveland, the latter designation of in-come being in honor of Gertrude H. Haskell. Income first re-ceived, 1937.Trustee, The National City Bank.

The Hiram House Fund — $7,765This trust was created pursuant to action of the Trustees of TheHiram House who transferred to the trust certain gifts previouslymade to The Hiram House. The trustor, The Hiram House, ex-pressed the direction that income be paid to The Hiram Houseso long as it is effectively and efficiently serving the purposesset forth in the trust agreement.

Creating this trust was a noteworthy recognition of the flexi-bility inherent in the Foundation plan. Income first received,1939. Trustee, The Cleveland Trust Company.

"The Jacob Hirtenstein Fund"— $5,345Under decree of the circuit court of Cook County, Illinois,entered April 21, 1928, the executor of the last will and testa-ment of Mr. Hirtenstein, a resident of Chicago, in recognition ofan outright residuary bequest to the Foundation, paid $6,000to The Cleveland Foundation. After deduction of taxes andother expenses the residue was placed in a trust fund to be


known as "The Jacob Hirtenstein Fund" for the charitable usesof The Cleveland Foundation without specific designation ofuse. Income first received 1929. Trustee, The Cleveland TrustCompany.

Robert M. Linney Fund — $124,804Established under the will of the late Robert M. Linney, incomefrom this trust is subject to certain life uses but otherwise avail-able for the charitable uses and purposes of the Foundationwithout specific designation. Income first received, 1929.Trustee, The Cleveland Trust Company.

Ella L. Lowman Fund — $961This fund was created by a testamentary trust of the residuaryestate under the will of the late Ella L. Lowman, the donor ex-pressing the desire that income be made available to charitableinstitutions looking after and caring for needy children. Incomeavailable, 1939. Trustee, The Cleveland Trust Company.

"The Helen E. McCreary MemorialFund"— $5,000

This fund was created pursuant to the terms of a certain decreein the Common Pleas Court of Cuyahoga County whereby cer-tain assets of The Retreat were transferred to establish the fund,income being available for the charitable or educational uses ofthe Foundation without specific designation. Income first re-ceived, 1937. Trustee, The Cleveland Trust Company.

"The George W. and Sarah McGuireFund"— $33,946

This fund was established as the result of a settlement agreementexecuted after Mrs. McGuire's death. Out of respect to thewishes of said Sarah McGuire the fund is known as "The GeorgeW. and Sarah McGuire Fund," income being available for thecharitable uses and purposes of the Foundation, without specific


designation. Income first received, 1928. Trustee, The ClevelandTrust Company.

Cornelia S. Moore Fund — $42,776Under terms of a trust agreement executed by the late CorneliaS. Moore, the Foundation became beneficiary of a trust of theresidue of her estate subject to payment of certain annuities.The donor expressed the preference that income of the fund bedivided equally between the Dorcas Invalids Home of Cleve-land and the Bellevue Hospital, Bellevue, Ohio, so long as saidinstitutions are in existence and are, in the opinion of the Com-mittee, efficiently and worthily conducted. Income first received,1937. Trustee, The Cleveland Trust Company.

Mary King Osborn Fund — $4,900This fund was established by trust agreement executed by thelate Mary King Osborn. The donor expressed the desire thatincome from the fund be paid to the Cleveland CommunityFund. Income first received, 1934. Trustee, The Cleveland TrustCompany.

William P. Palmer Fund — $24,846This fund, established by trust agreement executed by the lateWilliam P. Palmer, is for the charitable uses and purposes ofthe Foundation. The donor expressed no designation of use.Income first received, 1929. Trustee, The Cleveland TrustCompany.

Douglas Perkins Fund — $45,486Under the terms of a trust agreement executed by the lateDouglas Perkins, the Foundation became ultimate beneficiaryof a certain fund. The donor expressed the desire that the incomefrom the fund "be made available to the Cleveland ProtestantOrphan Asylum so long as it may seem to the Foundation Com-mittee under conditions as they may hereafter exist, wise andmost widely beneficiaL" Income first received, 1936. Trustee,The Cleveland Trust Company.


Walter D. Price Fund — $11,713Established by testamentary trust created by the late WalterD. Price. There are no designations of use of income. Incomefirst received, 1938. Trustee, The Cleveland Trust Company.

William H. Price Fund — $98,194This fund was established pursuant to a settlement agreementexecuted after the death of Mr. Price, the income being availablefor the general purposes of the Foundation. Income first received,1922. Trustee, The Cleveland Trust Company.

The Retreat Memorial Fund — $77,395Trustees of The Retreat, an institution for the care of unmarriedmothers and their children, formerly located at 2697 WoodhillRoad, Cleveland, made application to the Common Pleas Courtof Cuyahoga County, to transfer certain real property and otherassets to The Cleveland Trust Company in trust for the Founda-tion. The application being duly approved by the court thetransfer was made by deed of trust dated February, 1937. Thedonors provided that income be made available to charitableinstitutions in Cuyahoga County engaged in "assisting, protect-ing and reforming unmarried mothers and unfortunate womenand their children." Income first received, 1937.

Reasons prompting the notable action of the trustees of TheRetreat were a desire to be relieved of responsibility of operatingthe property under changed conditions of need and care of un-married mothers and a desire to secure flexibility of use of in-come made possible under the Foundation plan. Trustee, TheCleveland Trust Company.

Charles L. Richman Fund — $55,925Under the will of the late Charles Richman, The ClevelandFoundation was one of several residuary legatees of this estate.The Foundation's present portion of such residue at an approxi-mate value of $55,925was made available in 1939. Income firstreceived 1939. Trustee, The Cleveland Trust Company.


"The Mary Coit Sanford MemorialFund"— $3,700

Certain friends of the late Mary Coit Sanford set up a trustfund in her memory, the donors designating that the income befor the use of the "program committee of the Women's CityClub of Cleveland for the purpose of defraying the cost of lec-tures upon educational, civic, cultural or scientific subjects pre-sented under the auspices of said club." Income first received,1931.Trustee, The Cleveland Trust Company.

Mary Coit Sanford Fund — $40,429The will of the late Mary Coit Sanford bequeathed the residueof her estate in trust for the Foundation upon the termination ofcertain life uses. Designations made by the donor provide for thedistribution of one-eighth of the income for a scholarship atFlora Stone Mather College known as "The Harriet FairfieldCoit Scholarship;" one-eighth of the income for a scholarship atFlora Stone Mather College to be known as "The William HenryCoit Scholarship;" one-fourth of the income for Lakeside Hos-pital to maintain a bed known as "The Henry L. SanfordMemorial Bed;" one-fourth of the income for Rainbow Cottageto be known as "The Mary Coit Sanford Fund" for the purchaseof equipment or supplies; one-fourth of the income to the Asso-ciated Charities. Income first received, 1938. Trustee, TheCleveland Trust Company.

Marion R. Spellman Fund — $II,563Established by testamentary trust of the residuary estate of thelate Marion R. Spellman. The donor expressed the desire thatincome be used for aid in research work, teaching of psychologyand along practical lines, or aid of crippled or helpless childrenor aged women. Income first received, 1932.Trustee, The Cleve-land Trust Company.

Charles F. Uhl Fund — $1,000Established by testamentary trust of the late Charles F. Uhl.Income is made available to The Welfare Federation of Cleve-


land, successor to the Cleveland Federation for Charity andPhilanthropy named by the donor. Income first received, 1919.Trustee, The Cleveland Trust Company.

"The A. H. and Julia W. ShunkFund"— $98,II5

The will of the late Julia Warren Shunk created a trust of herresiduary estate for the charitable uses of the Foundation. Inaccordance with the wish of the donor the fund is known as "TheA. H. and Julia W. Shunk Fund" with designation of income toThe Cleveland Protestant Orphan Asylum so long as the insti-tution shall be in need of assistance and the management is, inthe opinion of the Committee, efficient. Funds first received,1919. Trustee, The Cleveland Trust Company.

Edward Loder Whittemore Fund — $25,083Established by testamentary trust of the late Edward LoderWhittemore. The testator expressed no designation for use ofincome. Income first received, 1931. Trustee, The ClevelandTrust Company.

Dr. J. D. Williamson Fund — $5,000This fund, created by the terms of the will of the late Dr. J. D.Williamson, is for the benefit of The Hiram House of Clevelandand its purposes. Income first received, 1939. Trustee, CentralNational Bank.

"The George H., Charles E., and Samuel DennyWilson Memorial Fund"— $162,773

This fund was created by a testamentary trust of the residuaryestate under the will of the late Margaret A. Wilson. The donordirected that the income be used to provide "sustenance andparticularly medical and surgical aid and appliances for worthysufferers of the City of Cleveland, giving preference to children."Income first received, 1919. Trustee, The Cleveland TrustCompany.

The First 25 Years – 1914-1939 – The Cleveland Foundation – A Community Trust

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Transcript of The First 25 Years – 1914-1939 – The Cleveland Foundation – A Community Trust