Walter E Terhune Memorial Fund
The Walter E. Terhune Memorial Fund is a component fund of the Greater Toledo Community Foundation. The fund's origins trace to Walter E. Terhune's vision in the 1920s, which laid the foundation for what would become the Greater Toledo Community Foundation. The fund operates as part of a community foundation structure serving northwest Ohio and southeast Michigan.
Key facts about Walter E Terhune Memorial Fund
- EIN
- 35-2446722
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $688,500
- Grants made (2024)
- 30
- Average grant
- $22,950
- Median grant
- $15,500
- New grantees (estimate)
- 17% first-time grantees (5 of 30, 2024)
- Total assets
- $9,133,596
- Primary geography
- Ohio (85% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Walter E Terhune Memorial Fund funds
By grant dollars, the top recipient states for Walter E Terhune Memorial Fund's 30 itemized 2024 grants were Ohio (85%) and New York (10%). The most frequent recipient cities were Toledo, OH (17 grants), New York, NY (2 grants) and Maumee, OH (2 grants). 100% of grants with a stated purpose were for general or operating support.
Is Walter E Terhune Memorial Fund open to new grantees?
17%
first-time grantees, 2024
In 2024, 5 of 30 grantees (17%) were first-time recipients. First grants averaged $32K; repeat grants $21K. How we count
Medians: $15K first-time, $16K repeat.
- 67% of 2024 grantees were also funded in 2023. Method
- Giving grew 23% from 2021 to 2024. Method
- In 2024 it paid out 97% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Walter E Terhune Memorial Fund
- How to evaluate Walter E Terhune Memorial Fund as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$9.1M
+10.2% YoY
Annual Giving
$689K
+10.2% YoY
Grant Count
30
-9.1% YoY
Avg Grant Size
$23K
+21.2% YoY
Under IRS private-foundation payout rules, Walter E Terhune Memorial Fund reported a distributable amount of $731K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Walter E. Terhune Memorial Fund supports the Greater Toledo Community Foundation's mission to create opportunities, connect generosity, and inspire collective action to strengthen the region. The foundation's broader funding priorities include education, health, arts, and social services.
Grantmaking
The Walter E. Terhune Memorial Fund serves as a "Top Dog Sponsor" for the Bark in the Park event held at Blueberry Fields Dog Park, indicating active community engagement and philanthropic support for local initiatives.
Ready to take the next step with Walter E Terhune Memorial Fund?
Geographic Focus
Where this funder awards grants
The fund supports northwest Ohio and southeast Michigan through the Greater Toledo Community Foundation's grantmaking activities.
Grant Distribution by State
Share of all 30 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $9,133,596 | $8,287,738 | $6,431,111 |
| Revenue | $1,679,843 | $2,569,346 | $808,519 |
| Expenses | $833,864 | $712,806 | $841,509 |
| Qualifying Distributions | $709,957 | $643,820 | $771,266 |
| Net Investment Income | $1,615,193 | $2,512,900 | $751,378 |
| Distributable Amount | $730,673 | $599,911 | $620,285 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
160 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Toledo Alliance for the Performing Arts ($110,000), Toledo Museum of Art ($57,500), Erie Shores Council ($50,000).
| Recipient | Purpose | Amount |
|---|---|---|
| TOLEDO ALLIANCE FOR THE PERFORMING ARTS Toledo, OH | GENERAL OPERATING | $110,000 |
| TOLEDO MUSEUM OF ART Toledo, OH | GENERAL OPERATING | $57,500 |
| ERIE SHORES COUNCIL Toledo, OH | GENERAL OPERATING | $50,000 |
| TOLEDO ZOOLOGICAL SOCIETY FOUNDATION Toledo, OH | GENERAL OPERATING | $50,000 |
| GREAT LAKES HISTORICAL SOCIETY Toledo, OH | GENERAL OPERATING | $35,000 |
| VALENTINE THEATRE Toledo, OH | GENERAL OPERATING | $35,000 |
| BOYS AND GIRLS CLUB OF TOLEDO Toledo, OH | GENERAL OPERATING | $35,000 |
| TOLEDO AREA HUMANE SOCIETY Maumee, OH | GENERAL OPERATING | $30,000 |
| TOLEDO OPERA ASSOCIATION Toledo, OH | GENERAL OPERATING | $30,000 |
| LOCAL INITIATIVES SUPPORT CORP New York, NY | GENERAL OPERATING | $30,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Keybank N a | Trustee | 1 | $81,028 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Walter E Terhune Memorial Fund fund?
The Walter E. Terhune Memorial Fund supports the Greater Toledo Community Foundation's mission to create opportunities, connect generosity, and inspire collective action to strengthen the region. The foundation's broader funding priorities include education, health, arts, and social services.
How do I apply for a grant from Walter E Terhune Memorial Fund?
The Walter E. Terhune Memorial Fund serves as a "Top Dog Sponsor" for the Bark in the Park event held at Blueberry Fields Dog Park, indicating active community engagement and philanthropic support for local initiatives.
Where does Walter E Terhune Memorial Fund make grants?
The fund supports northwest Ohio and southeast Michigan through the Greater Toledo Community Foundation's grantmaking activities.
What size grants does Walter E Terhune Memorial Fund award?
In 2024, Walter E Terhune Memorial Fund awarded 30 grants totaling $689K — an average of about $23K per grant, based on its IRS Form 990 filings.
How much is Walter E Terhune Memorial Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Walter E Terhune Memorial Fund reported a distributable amount of $731K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Walter E Terhune Memorial Fund's EIN?
Walter E Terhune Memorial Fund's EIN (Employer Identification Number) is 35-2446722. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.