Richard Cole 1900 – 1958
The Cole Foundation was founded in 1954 by Richard R. Cole. He named the foundation after his mother Olive B. Cole. At the time of creating the Foundation, Mr. Cole transferred a small amount of Flint & Walling Manufacturing Company, Inc. stock to the Foundation. At the time of his death, he transferred additional shares of Flint & Walling, and a further number was transferred after the subsequent death of his mother.
The stock of Flint & Walling became increasingly more valuable as Flint & Walling had a period of growth in the next 15 years. Flint & Walling acquired a number of additional companies and was eventually sold to MASCO Corporation. The Foundation is a 501 (c) (3) private foundation under the Internal Revenue Code.