The Cuno Foundation was established in 1947 by Charles H. Cuno with an initial contribution of $104,584. The estate of his mother, valued at $203,432, was later added to the fund. From 1948 to 2023, the Cuno Foundation distributed $6,455,000 in grants. In 1996 Frank Davella established a fund in the amount of $2,952,000, for scholarships to high school seniors and to date has awarded $5,551,000 in scholarships.
The purpose of the fund, which began distribution in 1950, is to accomplish greater good for the citizens of Meriden and surrounding communities. Gifts are bestowed for public, charitable and educational purposes that encourage and promote the well-being of mankind, primarily of the inhabitants of the City of Meriden and its vicinity, regardless of race, color or creed.
Charles H. Cuno, who moved to Meriden and founded the Cuno Engineering Corporation in 1912, became one of Meriden's best-known industrialists and most generous philanthropists. He was closely connected with the Meriden Boys Club, now known as the Joseph F. Coffey Boys and Girls Club, which named its summer camp at Beaver Pond in honor of Charles H. Cuno and his family.
The Cuno Foundation oversees disbursement for three trust funds: The main Cuno Foundation Fund (Cuno Fund); the Frank Davella Educational Fund (Davella Fund), which grants scholarships to students going on to higher education; and the Cheshire Fire Department—William Grove II Memorial Scholarship Fund (Grove Fund).