Lloyd A. Fry Foundation

Lloyd A. Fry Foundation

The Lloyd A. Fry Foundation was established in 1983 with capital generated by Lloyd A. Fry, who built the nation's largest roofing materials company. His grandson, Lloyd A. Fry III, remains a Director, and Chicago attorney Graham C. Grady chairs the board from his partnership at Taft Law. The Foundation concentrates its grantmaking entirely within Chicago, directing resources toward nonprofit organizations that address systemic barriers for underserved communities. The Foundation's investment strategy spans the liquidity spectrum, including buyout, venture capital, mezzanine, special situations, and fund-of-funds commitments. Geographic deployment stays domestic, with exposure to both early-stage and expansion-stage companies. Alongside its private portfolio, the institution holds dedicated corporate stock and bond portfolios. An estimated $191 million endowment supports both investment operations and grantmaking. The program team focuses on three areas: arts learning, education, and employment. In December 2025, Unmi Song retired after a long tenure as President; Sherly Chavarria assumed the role the following month. Board-level continuity comes from Howard M. McCue III, a former partner at McDermott Will & Emery. The Foundation maintains ties to professional networks including Forefront, where Graham Grady founded the Trustee Subcommittee, and the D5 Coalition for advancing diversity in philanthropy. The Foundation separates its grantmaking from its investment activities, yet the dual structure — deploying endowment assets for returns while distributing grants to Chicago nonprofits — creates a unique operating model among mid-sized foundations.