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EDUCATIONAL TRUST

EDUCATIONAL TRUST was founded in Cleveland in 1952 by the RELIANCE ELECTRIC CO. The corporate trust, one of Cleveland's largest FOUNDATIONS in terms of assets, has supported community funds, HIGHER EDUCATION, HOSPITALS AND HEALTH PLANNING (except national health organizations), cultural programs, and social services, in addition to a matching gift program for employee charitable gifts. It has donated primarily in geographical areas around its industrial facilities. In 1992 the Reliance Electric Co. Trust, with assets of over $177 million, distributed $875,220 for 519 grants, ranging from $20 to $60,000 and averaging from $500 to $5,000. Those funds included a total of $90,000 in 2 grants to CASE WESTERN RESERVE UNIV. and $86,250 in 3 grants to UNITED WAY SERVICES, Cleveland. In 1994 the trust was led by Edward R. Towns, secretary, and located at Reliance corporate offices in LYNDHURST.


See also PHILANTHROPY, FOUNDATIONS.