Olive B Cole Foundation Inc
- Assets
- $31.9m
- Revenue
- $3.3m
- Investments
- $31.7m
- Employees
- 0
- Location
- Fort Wayne, IN
- Founding
- 10/1958
- Data as of
- 03/2022
- EIN
- 35-6040491
Organization Overview
Olive B Cole Foundation Inc is located in Fort Wayne, IN. The organization was established in 1958. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olive B Cole Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2022, Olive B Cole Foundation Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.8m during the year ending 03/2022. While expenses have increased by 1.8% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Olive B Cole Foundation Inc has awarded 218 individual grants totaling $5,185,405. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP PROGRAM: GRANTS ARE AWARED COLLEGE STUDENTS UNDER A PREVIOUSLY APPROVED SCHOLARSHIP PROGRAM WHICH IS ADMIN- ISTERED BY THE FOUNDATION.
AFFILIATED ENTITY: THE FOUNDATION PROVIDES TECHNICAL ASSISTANCE AND ADMINISTRATIVE SERVICES TO ELOC, INC., WITH- OUT CHARGE. ELOC, INC. IS A PRIVATE OPERATING FOUNDATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maclyn T Parker Chairman Of The Board | 30 | $50,000 | |
Emily E Pichon President | 30 | $46,000 | |
Kristi P Celico Secretary/treasurer | 30 | $25,000 | |
Gwen I Tipton Scholarship Director | 12 | $14,342 | |
Jack Hunter Director | 2 | $7,500 | |
John Riemke Director | 2 | $7,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $95,776 |
| Dividends & Interest | $2,397,337 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $763,440 |
| Capital Gain Net Income | $763,440 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,263 |
| Total Revenue | $3,258,816 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $171,092 |
| Other employee salaries and wages | $17,718 |
| Pension plans, employee benefits | $64,816 |
| Interest | $0 |
| Taxes | $35,685 |
| Depreciation | $410 |
| Occupancy | $32,017 |
| Travel, conferences, and meetings | $13,421 |
| Printing and publications | $0 |
| Other expenses | $6,562 |
| Total operating and administrative expenses | $415,394 |
| Contributions, gifts, grants paid | $1,341,431 |
| Total expenses and disbursements | $1,756,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,349 |
| Savings and temporary cash investments | $154,472 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,597 |
| Other assets | $0 |
| Total assets | $31,932,003 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Olive B Cole Foundation Inc has awarded $1,323,546 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOLARSHIPS PAID (SEE ATTACHED LIST) PURPOSE: SCHOLARSHIPS | $257,222 |
PURDUE UNIVERSITY FORT WAYNE PURPOSE: BUIDLING PROJECT, HOZIRING LEAGUE STRATEGIC INITIATIVES FUND, PARKER COLE CROSSING BRIDGE GRANT | $105,000 |
FORT WAYNE CHILDREN'S ZOO PURPOSE: RED PANDA EXPANSION | $100,000 |
Kendallville, IN PURPOSE: NEW FLOORING | $100,000 |
Kendallville, IN PURPOSE: NEW ROOFING | $100,000 |
THE NATURE CONSERVANCY PURPOSE: STEWARDSHIP | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |