F. W. Olin Foundation

Olin used the foundation for personal giving, including gifts for a chemical engineering building in the Engineering Quadrangle at Cornell University and a vocational high school in Alton, Illinois. In creating the foundation, Olin passed control of what would become the Olin Corporation to his sons, Spencer and John, while donating controlling shares to the foundation. "The old man then took his marbles out of the game," as Fortune described the transaction. "He plunked his stock into a charitable foundation.... If the boys did not want control of the company to pass to the foundation on his death, they'd jolly well have to hustle up the money to buy back the shares." The Olin sons did that, which left $50 million in the foundation's corpus, making it one of the largest foundations in the country. == Franklin W. Olin College of Engineering==

In the early 1990s, the board of the Olin Foundation began to worry about the perpetuation of donor intent in subsequent generations. "We were concerned about how we were going to find people committed to continue the grant program, who wouldn't come in with their own agenda, their own baggage, and try to change things around," Milas said. "With the escalation of building costs, would we be able to sustain that grant program? We were locked into what we had as a private foundation. Would we remain relevant if we couldn't substantially grow our assets?" == Other buildings and schools funded by the foundation ==

The following is an incomplete list of other schools, programs, or buildings funded by the Franklin W. Olin foundation before its closure: • William H. Coleman Hall at Bucknell University • F. W. Olin Science Building at Bucknell University • Olin Center for Educational Technology, Augustana College (Illinois) • F. W. Olin Building, Southwestern University • Franklin W. Olin Building Luther College (Iowa) • Olin-Rice Science Center, Macalester College • F. W. Olin Center, Union College • Olin Hall, Ursinus College • F. W. Olin Center, Tufts University • F. W. Olin Graduate School of Business, Babson College • F. W. Olin Hall, University of Denver • F. W. Olin Hall, fine arts building at Roanoke College • F. W. Olin Hall, residence hall at Cornell College • F. W. Olin Hall, residence hall at Weill Cornell Medicine • F. W. Olin Library at Mills College • F. W. Olin Physical Sciences Center, Florida Institute of Technology • F. W. Olin Science Center, Harvey Mudd College • F. W. Olin Science Center, containing the Olin Observatory, Connecticut College • Franklin W. Olin Jr. Hall, Cornell University • Olin Arts Center, Bates College • Olin Engineering Building, Hampton University • Olin Engineering Center, Marquette University • Olin Fine Arts Center, Washington & Jefferson College • Olin Hall, housing the physics department of Worcester Polytechnic Institute • Olin Hall, housing the departments of biology, psychology, and environmental science and sustainability of Drake University. • Olin Hall, housing the departments of biology, chemistry, and physics of Bradley University • Olin Hall, Whitman College • Olin Hall of Science, Carleton College • Olin Library (Rollins College) • Olin Science Building, Colby College • Franklin W. Olin Hall, Centre College • Franklin W. Olin Building, Alfred University • Franklin W. Olin Building, Wofford College • Olin Hall, Roanoke College • Olin Hall, Johns Hopkins University • Olin Hall, University of San Diego • Olin School of Business, Washington University in St. Louis • Olin Physical Laboratory, Wake Forest University • Olin Arts and Communication Center/Humanities Building, Concordia College (Moorhead, Minnesota) • Olin Hall, University of Akron • F.W. Olin Science Hall, Denison University • F.W. Olin Biological Sciences Building, DePauw University • Olin Hall of Engineering, University of Southern California • Vivian Hall of Engineering, University of Southern California • Olin Laboratory for Materials, Case Institute of Technology • Crawford Hall, Case Western Reserve University == See also ==