Walter E Terhune Memorial Fund
The Walter E Terhune Memorial Fund is a private foundation based in Brooklyn, Ohio. In 2025, it made 32 grants totaling $640,000 to organizations in Ohio and other states; its filing says awards are for educational, literary, scientific, and other charitable causes.
Walter E Terhune Memorial Fund at a glance
In short: Walter E Terhune Memorial Fund gave $640K across 32 grants in 2025 (avg $20K), mostly in Ohio. 19% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $640,000
- -7.0% vs 2024
- Grants made (2025)
- 32
- +6.7% vs 2024
- Average grant
- $20,000
- -12.9% vs 2024
- Median grant
- $20,000
- Total assets
- $8,669,571
- -5.1% vs 2024
- New grantees (estimate)
- 19% first-time grantees (6 of 32, 2025)
- Primary geography
- Ohio (76% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Walter E Terhune Memorial Fund
- How to Apply
The 2025 filing says to submit a written statement of the organization’s purpose and history, a project description and duration, the amount requested, a budget, current tax-exempt status, a list of board members, and…
The 2025 filing says to submit a written statement of the organization’s purpose and history, a project description and duration, the amount requested, a budget, current tax-exempt status, a list of board members, and financial statements. The filing says the foundation does not restrict giving to preselected organizations. Awards are for educational, literary, scientific, and other charitable causes.
- Review Cycle
- The filing lists March 31 and September 30 deadlines. The March 31, 2026 deadline has passed; September 30, 2026 is the next listed date.
- Deadline
- The filing lists March 31 and September 30 deadlines.
- Contact
Application contact: Keybank N A Foundations And Endowm
Mailing address: P O Box 10099, Toledo, OH 43699-0099
Phone: (419) 259-6197
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Walter E Terhune Memorial Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Toledo Alliance for the Performing Arts ($60K). Together the top 10 received $385K.
Grant Size Distribution
161 grants across all recorded years
The most common grant size was under $50K: 146 grants of 161 (91%).
Geographic Focus
Where this funder awards grants
In 2025, 76% of grant dollars went to recipients in Ohio, 12% to New York, 9% to Washington, DC, 2% to Texas, and 1% to South Carolina.
Grant Distribution by State
Share of 2025 grant dollars across all 32 itemized grants.
States
Cities
Is Walter E Terhune Memorial Fund open to new grantees?
19%
first-time grantees, 2025
In 2025, 6 of 32 grantees (19%) were first-time recipients. First grants averaged $11K; repeat grants $22K. How we count
Medians: $8K first-time, $20K repeat.
- 69% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−15%). Method
- In 2025 it paid out 79% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $560K (2021) to $752K (2022). In 2025 it made 32 grants totaling $640K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Toledo Alliance for the Performing Arts Toledo, OH | General Operating | $60,000 |
| YMCA Washington, DC | General Operating | $55,000 |
| Erie Shores Council Toledo, OH | General Operating | $50,000 |
| Boys and Girls Club of Toledo Toledo, OH | General Operating | $40,000 |
| Local Initiatives Support Corp New York, NY | General Operating | $35,000 |
| Toledo Opera Toledo, OH | General Operating | $30,000 |
| Toledo Area Humane Society Maumee, OH | General Operating | $30,000 |
| Great Lakes Historical Society Toledo, OH | General Operating | $30,000 |
| Valentine Theatre Toledo, OH | General Operating | $30,000 |
| Arts Commission Toledo, OH | General Operating | $25,000 |
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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 | $8,669,571 | $273,226 | $736,724 | $640,000 | 32 | $663,352 | $229,172 | $835,337 |
| 2024 | $9,133,596 | $1,679,843 | $833,864 | $688,500 | 30 | $709,957 | $1,615,193 | $730,673 |
| 2023 | $8,287,738 | $2,569,346 | $712,806 | $625,000 | 33 | $643,820 | $2,512,900 | $599,911 |
| 2022 | $6,431,111 | $808,519 | $841,509 | $752,000 | 35 | $771,266 | $751,378 | $620,285 |
| 2021 | $6,462,200 | $659,766 | $648,009 | $559,500 | 31 | $583,648 | $600,458 | $710,710 |
| 2020 | $6,450,421 | $313,876 | $643,076 | $563,000 | 31 | — | $258,339 | $557,727 |
Under IRS private-foundation payout rules, Walter E Terhune Memorial Fund reported a distributable amount of $835K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The fund’s filing does not state a separate mission. Its 2025 filing says awards are given based on educational, literary, scientific, and other charitable causes. Grantees’ stated missions illustrate the kinds of organizations it has supported: Toledo Alliance for the Performing Arts says it brings the community together through dance and music; Black Swamp Conservancy says it works to preserve and enhance natural habitats and family farms in northwest Ohio; and Toledo Tomorrow says it works to reduce barriers to student success and access to education and career opportunities.
Grantmaking
In 2025, the fund awarded 32 grants totaling $640,000. Grant amounts ranged from $2,500 to $60,000, with a median of $20,000. The largest awards included $60,000 to Toledo Alliance for the Performing Arts, $55,000 to YMCA in Washington, DC, $50,000 to Erie Shores Council, and $40,000 to Boys and Girls Club of Toledo. These grants were listed for general operating support.
Other 2025 grantees included Local Initiatives Support Corporation ($35,000), Black Swamp Conservancy ($25,000), Sunshine Foundation Inc ($20,000), Toledo Tomorrow ($10,000), Maumee Valley Habitat for Humanity ($5,000), Good Grief of Northwest Ohio Inc ($5,000), and Diabetes Youth Services ($5,000).
Leadership & Key People
Leadership team and compensation from IRS filings
KeyBank N.A. is listed as trustee on the 2025 filing.
Walter E Terhune Memorial Fund's only listed officer is Keybank N A, Trustee on every filing since 2020 (compensated).
Officers on the 2025 filing
Keybank N A
Trustee
On filings since 2020
1 hr/week
$71K (2020) → $89K (2025)
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $89K, to Keybank N a (Trustee).
Frequently asked questions about Walter E Terhune Memorial Fund
How much does Walter E Terhune Memorial Fund give each year?
Walter E Terhune Memorial Fund gave $640K across 32 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $689K across 30 grants.
What is Walter E Terhune Memorial Fund's typical grant size?
Walter E Terhune Memorial Fund's median grant in 2025 was $20,000, and its average grant was $20,000, across 32 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Walter E Terhune Memorial Fund that year got $11K on average.
Where does Walter E Terhune Memorial Fund give grants?
Walter E Terhune Memorial Fund gives mostly in Ohio: 76% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were New York (13%) and District of Columbia (9%). The most frequent recipient cities were Toledo, OH (17 grants), Maumee, OH (3 grants) and New York, NY (2 grants).
Does Walter E Terhune Memorial Fund give general operating support?
Yes: 100% of Walter E Terhune Memorial Fund's 2025 grants with a stated purpose (32 of 32) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Walter E Terhune Memorial Fund's largest grantees?
Walter E Terhune Memorial Fund's largest 2025 grantees include Toledo Alliance for the Performing Arts ($60,000), YMCA ($55,000) and Erie Shores Council ($50,000), according to its 2025 IRS Form 990-PF. Together they received 26% of its itemized 2025 grant dollars.
How large is Walter E Terhune Memorial Fund?
Walter E Terhune Memorial Fund reported $8.7M in total assets on its 2025 IRS Form 990-PF. It paid out $663K in qualifying distributions that year, against a required minimum of $835K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Walter E Terhune Memorial Fund fund?
The fund’s filing does not state a separate mission. Its 2025 filing says awards are given based on educational, literary, scientific, and other charitable causes. See mission & focus areas ↑
How do I apply for a grant from Walter E Terhune Memorial Fund?
The 2025 filing says to submit a written statement of the organization’s purpose and history, a project description and duration, the amount requested, a budget, current tax-exempt status, a list of board members, and… Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 3, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 27, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 8, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 5, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 3, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 7, 2026)
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Cite this profile
Grantable. (2026). Walter E Terhune Memorial Fund funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/walter-e-terhune-memorial-fund-morg_8bf6c04270704e799137d85e31a4b56e
BibTeX
@misc{grantable_352446722_2026,
author = {{Grantable}},
title = {{Walter E Terhune Memorial Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/walter-e-terhune-memorial-fund-morg_8bf6c04270704e799137d85e31a4b56e},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Walter E Terhune Memorial Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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