The FRED A. LENNON FOUNDATION was established in 1965 in SOLON by engineer and corporate executive Fred A. Lennon. The fund supports only pre-selected organizations, primarily within the state, emphasizing HIGHER EDUCATION, the Roman Catholic church, and medicine and medical research. It accepts no applications. In 1990 assets of the foundation were over $8.1 million, with expenditures of over $3.4 million for 202 grants, an increase of 36% over 1989, in the average range of $1,000-$10,000. Recipients of large gifts included GILMOUR ACADEMY (over $400,000), the CLEVELAND CLINIC FOUNDATION ($500,000), and the Vatican Observatory in Tucson, AZ ($200,000). Various local hospitals received a total of $300,000. Lennon was president of the foundation in 1993. In Dec. 1994 the foundation planned to close its books at the end of 1995.
See also PHILANTHROPY and FOUNDATIONS.