Mercy College celebrated its first Founders' Day on October 26, 2008. Mary "Mimi" Lyon received the inaugural Founders' Day Medal for her contributions to Mercy College through her late husband Frank Lyon's creation of the Daddy Short Legs Scholarship. The scholarship provides short-term financial assistance to Mercy College seniors in need. Dr. Kimberly Cline, Mercy College's president, believes the new Founders' Day tradition is important for recognizing individuals who have contributed to the College's continuous growth.