The foundation was established in May of 1968 by attorney Paul Cressman Sr. based on the wishes of Byron and Alice Lockwood.
Byron and Alice met and married in the 1930s. Their estate was developed from operations of timber businesses in King and Snohomish county and real estate investments in the Greater Seattle Area.
They shared a passion for the outdoors and spent significant time outside the then sparsely populated city of Bothell. Byron invested significant time with young and ambitious people who he could help realize their potential in business and in sports.
Beyond their business and recreational interests, they shared a desire to give back to the local community which led to the creation of the foundation. They felt this was best done through contributions to organizations supporting education, health, and human services which is why those are the categories of grant requests evaluated by the foundation.
The foundation’s assets currently stand at approximately $20 million and it gives away at least 5% of its gross assets annually.