The Lily Palmer Fry Memorial Trust, established in 1954, provides funding to support summer camp opportunities for underserved children, with a focus on traditional camp programs that expose urban children to natural environments outside of the city. The trust serves communities in New York City and Westchester County, New York, as well as Fairfield and Hartford Counties, Connecticut. Grants are awarded on an annual basis and prioritize funding "camperships" for children, excluding other camp-related expenses such as supplies or salaries.

Applications are due by February 1, with grant decisions communicated via letter within two to three months of the deadline. The grants are managed by the Connecticut office of Bank of America, which serves as co-trustee alongside two relatives of Lily Palmer Fry.

Nonprofits interested in applying must adhere to the specific guidelines outlined by the trust, including focusing on camperships for underserved children in the eligible geographic areas. The funding is limited to one year per grant cycle, and applicants can access submission information and application assistance through the provided resources.