The Elizabeth Welsh Young Memorial
The Elizabeth Welsh Young Memorial is a private foundation, based in Towson, MD. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $3.5M in total assets. In 2025, it awarded 1 grant totaling $332K. Net investment income was $163K.
The Elizabeth Welsh Young Memorial at a glance
In short: The Elizabeth Welsh Young Memorial gave $332K across 1 grant in 2025 (avg $332K), mostly in Maryland. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $331,500
- +4.3% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $331,500
- +4.3% vs 2024
- Median grant
- $331,500
- Total assets
- $3,467,277
- +3.9% vs 2024
- Primary geography
- Maryland (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Elizabeth Welsh Young Memorial funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Garrison Forest School ($332K).
Grant Size Distribution
19 grants across all recorded years
The most common grant size was under $50K: 15 grants of 19 (79%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How The Elizabeth Welsh Young Memorial gives
- Giving held roughly steady from 2022 to 2025 (+14%). Method
- In 2022 it paid out 105% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $246K (2021) to $332K (2025). In 2025 it made 1 grant totaling $332K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Garrison Forest School Owings Mills, MD | Scholarships | $331,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $3,467,277 | $569,165 | $364,884 | $331,500 | 1 | $331,500 | $163,124 | — |
| 2024 | $3,338,284 | $226,329 | $336,440 | $317,706 | 1 | $317,706 | $164,417 | — |
| 2023 | $3,881,374 | $276,421 | $309,601 | $292,329 | 1 | $292,329 | $162,568 | — |
| 2022 | $3,475,906 | $180,450 | $316,854 | $290,102 | 1 | $311,507 | $150,105 | $297,015 |
| 2021 | $3,612,368 | $304,880 | $264,127 | $246,000 | 15 | $257,776 | $304,329 | $301,878 |
Leadership & Key People
Officers and directors from IRS filings
The Elizabeth Welsh Young Memorial is led by Edward C. Covahey Jr., Trustee on every filing since 2021 — the only officer listed, and uncompensated.
Officers on the 2025 filing
Edward C. Covahey Jr.
Trustee
On filings since 2021
$8K (2021) → $0 (2025)
Former officers (1)
- Former: Elizabeth Reese Boozer (2021) — Trustee
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2021 IRS filing
The highest reported compensation on the 2021 filing was $8K, to Edward C Covahey (Trustee). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The Elizabeth Welsh Young Memorial
How much does The Elizabeth Welsh Young Memorial give each year?
The Elizabeth Welsh Young Memorial gave $332K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $318K across 1 grant.
How large is The Elizabeth Welsh Young Memorial?
The Elizabeth Welsh Young Memorial reported $3.5M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $569K.
Where does The Elizabeth Welsh Young Memorial operate?
The Elizabeth Welsh Young Memorial has awarded grants in Maryland.
What is The Elizabeth Welsh Young Memorial's EIN?
The Elizabeth Welsh Young Memorial's EIN (Employer Identification Number) is 81-6166483. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2021 (received by the IRS September 23, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS July 18, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 23, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS March 25, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS March 12, 2026)
- IRS filings on file for fiscal years 2021–2025
Live grants for the work The Elizabeth Welsh Young Memorial funds
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