Olive B Cole Foundation Inc
The Olive B Cole Foundation is a private charitable foundation located in Fort Wayne, Indiana, dedicated to improving the quality of life for residents of Northeast Indiana. Founded in 1954 by Richard R. Cole and named after his mother, the foundation has operated for seven decades with a focus on strategic philanthropy in economic development, education, and community improvement.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$32.4M
-0.7% YoY
Annual Giving
$1.3M
+1.9% YoY
Grant Count
63
+61.5% YoY
Avg Grant Size
$20K
-36.9% YoY
Mission & Focus Areas
Mission: The Olive B Cole Foundation employs its resources to improve the quality of life for the residents of Northeast Indiana, with special emphasis on Noble County and the counties of DeKalb, LaGrange, and Steuben.
Vision: The Cole Foundation develops new and innovative ways to accomplish its mission by fostering education, economic development, community crisis assistance, recreational opportunities, and environmental conservation.
Primary Areas of Interest:
- Job creation and entrepreneurism
- Scholarships and education
- Economic development
The foundation was endowed by Richard Cole with "a freedom of purpose unusual among foundations," and the Board of Directors has maintained an attitude of innovation rather than simple responsiveness.
Grantmaking
Grant Range
** $1,000 to $300,000+
Average Grant
** $27,000–$33,000
Review Cycle
; approximately 3 months for decisions
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Geographic Focus
Where this funder awards grants
The foundation makes grants to 501(c)(3) organizations or governmental entities located within DeKalb, LaGrange, Noble, and Steuben counties in Northeast Indiana. The foundation will also consider organizations located outside these four counties if they serve residents of those counties.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Total Assets: $32.4–$32.7 million (2024–2025)
Total Revenues: $1,528,596 (2025)
Total Expenses: $1,747,061 (2025)
Annual Giving: $1,260,300–$1,528,596
Staff: 0 employees (operates with volunteer or contracted administration)
History: The foundation was initially funded through the transfer of Flint & Walling Manufacturing Company stock by founder Richard R. Cole. Additional shares were transferred at his death and after his mother's death. The foundation's assets grew significantly when Flint & Walling acquired several additional companies and was eventually sold to MASCO Corporation.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $32,439,869 | $32,658,334 | $32,798,326 |
| Revenue | $1,528,596 | $1,595,787 | $2,843,905 |
| Expenses | $1,747,061 | $1,735,779 | $1,977,582 |
| Qualifying Distributions | $1,581,497 | $1,555,710 | $1,786,225 |
| Net Investment Income | $1,042,920 | $1,488,912 | $2,715,291 |
| Distributable Amount | $1,784,133 | $1,589,679 | $1,558,747 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
230 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Emily Pichon – President; primary contact for grant inquiries
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Maclyn T Parker | Chairman | 30 | $59,320 |
| Emily Pichon | President | 30 | $66,735 |
| Gwen Tipton | Scholarship Director | 12 | $17,203 |
| Kristi Parker Celico | Secretary/Treasurer | 18 | $32,087 |
| Jack Hunter | Director | 5 | $2,122 |
| John Riemke | Director | 5 | $8,734 |
| J Tracy Tipton | Director | 5 | $8,734 |
| Michael Barranda | Director | 5 | $8,734 |
| Larry Clemens | Director | 5 | $8,734 |
Contact Information
Mailing Address: 6207 Constitution Drive, Fort Wayne, Indiana 46804
Phone: (260) 436-2182
Email: admin@obcole.org
Website: https://obcole.org
Office Hours: By appointment
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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