2020 Annual Report TABLE of CONTENTS
2020 Annual Report TABLE OF CONTENTS 2 60 Chairman’s Letter Strategic Plan 6 62 Richard P. Mellon Appropriations 8 63 COVID-19 Update Financial Statements 16 65 Conservation Notes to Financial Statements 26 70 Economic Development Report of Independent Auditors 38 71 Education Policy & Grant Guidelines 48 72 Human Services Trustees, Officers & Staff Cover Photo: The Greater Pittsburgh Community Food Bank, a Richard King Mellon Foundation grantee, distributed 46.3 million meals in the first year of the COVID-19 pandemic. 2 2020 Annual Report Richard King Mellon 1899–1970 RICHARD KING MELLON was born in Pittsburgh, Pennsylvania, on June 19, 1899, the son of Richard Beatty Mellon and Jennie King Mellon. Mr. Mellon served his country in both World Wars and in peacetime, attaining the rank of Lieutenant General, United States Army Reserve, and receiving the Distinguished Service Medal. Serving his country during World War II, Mr. Mellon was the dominant figure in the financial, Richard K. Mellon received the Distinguished Service Medal. He eventually attained the industrial, and civic life of his community for many years. rank of Lieutenant General, United States He was president of Mellon National Bank and, for 20 Army Reserve. years, chairman of the board of Mellon National Bank and Trust Company; as a director, he aided the growth of many of the nation’s leading enterprises, particularly Gulf Oil Corporation and Aluminum Company of America. Mr. Mellon, president and governor of T. Mellon and Sons, inspired and led the rebirth of a great American city. His creative energies forged the Pittsburgh Renaissance, a nationally recognized architectural, civic, social, and educational venture.
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