M R Lilly P And Mary Dickey Memorial Fund

Organization Overview

M R Lilly P And Mary Dickey Memorial Fund is located in Brooklyn, OH. The organization was established in 1994. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. M R Lilly P And Mary Dickey Memorial Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, M R Lilly P And Mary Dickey Memorial Fund generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 0.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2019, M R Lilly P And Mary Dickey Memorial Fund has awarded 12 individual grants totaling $4,793,513. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

GRANTS ARE MADE ACCORDING TO TRUST AGREEMENT DATED OCTOBER 27,1987. KEYBANK, AS TRUSTEE, MAKES DISTRIBUTIONS AS FOLLOWS: 25% TO LAKE ERIE COLLEGE, 50% TO FIRST PRESBYTERIAN CHURCH, AND 25% TO CASE WESTERN RESERVE UNIVERSITY. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARIES HAVE CHOSEN TO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME. KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF EACH BENEFICIARY ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASE NOTE THE CHARITIES HAVE A RIGHT TO REMOVE THE TRUSTEE, AND THE TRUSTEE HAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THE CONTINUATION TO QUALIFY AS A 509(A)3 .

Describe the Organization's Program Activity:

Part 3 - Line 4a

GRANTS MADE TO FIRST PRESBYTERIAN CHURCH FOR RELIGIOUS OBSERVATIONS AND MAINTENANCE OF THE CHURCH PROPERTY.


GRANTS MADE TO LAKE ERIE COLLEGE TO BE USED FOR THE PAYMENT OF SALARIES FOR FOREIGN LANGUAGE TEACHERS. ANY EXCESS INCOME IS TO BE USED FOR THE PAYMENT OF SALARIES TO OTHER TEACHERS.


GRANTS MADE TO CASE WESTERN RESERVE UNIVERSITY TO BE USED EQUALLY FOR SCHOLARSHIP FOR GRADUATE DEGREES IN FOREIGN LANGUAGE AND LAW WITH PREFERENCE GIVEN TO LAKE ERIE COLLEGE GRADUATES.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $217,794
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,307,499
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,525,293

Grants Awarded

Over the last fiscal year, M R Lilly P And Mary Dickey Memorial Fund has awarded $1,205,384 in support to 3 organizations.

Grant RecipientAmount

FIRST PRESBYTERIAN SOCIETYOLD STONE CHURCH

Org PageRecipient Profile

Cleveland, OH

PURPOSE: For religious observations and maintenance of the church property

$602,692

CASE WESTERN RESERVE UNIVERSITY

Org PageRecipient Profile

Cleveland, OH

PURPOSE: To be used equally for scholarship for graduate degrees in foreign language and law with preference given to Lake Erie College graduates.

$301,346

LAKE ERIE COLLEGE

Org PageRecipient Profile

Painesville, OH

PURPOSE: To be used for salaries of foreign language teachers. Any excess to be used for other teachers.

$301,346
View Grant Profile

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