The Kelvin and Eleanor Smith Foundation, a private family Foundation, was incorporated in 1955. Through the years, the Foundation has been funded solely through the gifts and estates of Kelvin and Eleanor Smith. Kelvin, along with his two brothers, was a co-founder of the Lubrizol Corporation. He and his wife, Eleanor, were greatly interested in the arts and the natural environment and cared deeply about their Cleveland community.

The Board of Trustees consists of six members. Ellen Stirn Mavec was elected President and Chairman in 1997.